Can I retire at age 58 with 1,180,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$97,443$96,575$95,728$94,902$94,095$91,857
2 years$48,239$47,341$46,470$45,626$44,807$42,566
3 years$31,840$30,938$30,069$29,233$28,427$26,253
4 years$23,642$22,743$21,883$21,061$20,275$18,183
5 years$18,725$17,830$16,982$16,177$15,413$13,410
6 years$15,447$14,560$13,724$12,937$12,195$10,284
7 years$13,107$12,227$11,405$10,636$9,918$8,098
8 years$11,353$10,481$9,672$8,922$8,228$6,498
9 years$9,989$9,126$8,331$7,600$6,929$5,288
10 years$8,899$8,044$7,263$6,551$5,904$4,351
11 years$8,008$7,161$6,394$5,701$5,078$3,609
12 years$7,265$6,427$5,675$5,001$4,400$3,015
13 years$6,638$5,808$5,070$4,415$3,837$2,532
14 years$6,100$5,280$4,555$3,919$3,364$2,135
15 years$5,635$4,823$4,113$3,495$2,962$1,808
16 years$5,228$4,425$3,729$3,130$2,617$1,535
17 years$4,869$4,075$3,393$2,812$2,321$1,307
18 years$4,551$3,766$3,097$2,534$2,064$1,115
19 years$4,266$3,490$2,836$2,290$1,839$953
20 years$4,010$3,243$2,602$2,074$1,643$815
21 years$3,779$3,021$2,394$1,882$1,470$699
22 years$3,569$2,820$2,206$1,711$1,318$599
23 years$3,378$2,637$2,037$1,558$1,183$515
24 years$3,203$2,471$1,884$1,421$1,063$442
25 years$3,042$2,319$1,745$1,298$957$380
26 years$2,894$2,179$1,618$1,187$862$327
27 years$2,757$2,051$1,503$1,086$777$282
28 years$2,630$1,933$1,397$995$701$243
29 years$2,512$1,823$1,300$913$633$209
30 years$2,402$1,722$1,211$838$572$180
31 years$2,299$1,628$1,129$769$517$155
32 years$2,203$1,540$1,053$707$468$134
33 years$2,113$1,459$983$650$423$116
34 years$2,029$1,382$919$598$383$100
35 years$1,949$1,311$859$551$347$86
36 years$1,874$1,245$804$507$315$74
37 years$1,803$1,182$752$467$285$64
38 years$1,736$1,123$704$431$258$55
39 years$1,673$1,068$660$397$234$48
40 years$1,613$1,016$619$366$213$41
41 years$1,556$967$580$338$193$36
42 years$1,502$921$544$312$175$31
43 years$1,451$878$511$288$159$26
44 years$1,402$837$479$266$144$23
45 years$1,355$798$450$246$131$20
46 years$1,311$761$423$227$119$17
47 years$1,269$726$397$210$108$15
48 years$1,228$693$373$194$98$13
49 years$1,189$662$351$179$89$11
50 years$1,152$633$330$165$81$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,180,000, adding $5,386 every year, while hoping to spend $53,075 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 49/35/16 Blend
57$1,180,000$1,180,000$1,180,000$1,180,000
58$1,305,916$1,243,376$1,225,086$1,363,851
59$1,382,648$1,247,830$1,209,655$1,408,865
60$1,465,427$1,250,723$1,191,928$1,451,824
61$1,554,816$1,251,923$1,171,772$1,497,333
62$1,651,429$1,251,290$1,149,049$1,545,649
63$1,755,945$1,248,673$1,123,612$1,597,060
64$1,869,108$1,243,914$1,095,309$1,651,884
65$1,991,735$1,236,845$1,063,981$1,710,476
66$2,124,729$1,227,286$1,029,460$1,773,227
67$2,269,077$1,215,049$991,573$1,840,575
68$2,425,869$1,199,933$950,137$1,913,003
69$2,596,302$1,181,724$904,961$1,991,048
70$2,781,694$1,160,198$855,847$2,075,307
71$2,983,494$1,135,115$802,584$2,166,439
72$3,203,296$1,106,221$744,957$2,265,178
73$3,442,857$1,073,250$682,737$2,372,334
74$3,704,106$1,035,917$615,686$2,488,808
75$3,989,170$993,922$543,557$2,615,597
76$4,300,389$946,948$466,090$2,753,804
77$4,640,338$894,658$383,014$2,904,652
78$5,011,853$836,697$294,045$3,069,497
79$5,418,057$772,689$198,890$3,249,835
80$5,862,385$702,238$97,240$3,447,328
81$6,348,623$624,922$0$3,663,812
82$6,880,938$540,299$0$3,903,237
83$7,463,918$447,898$0$4,183,773
84$8,102,619$347,226$0$4,491,348
85$8,802,604$237,758$0$4,828,776
86$9,570,003$118,942$0$5,199,164
87$10,411,568$0$0$5,605,940
88$11,334,733$0$0$6,056,671
89$12,347,688$0$0$6,601,635
90$13,459,454$0$0$7,199,892
91$14,679,968$0$0$7,856,805
92$16,020,175$0$0$8,578,282
93$17,492,133$0$0$9,370,833
94$19,109,125$0$0$10,241,627
95$20,885,783$0$0$11,198,564
96$22,838,227$0$0$12,250,345
97$24,984,216$0$0$13,406,559
98$27,343,316$0$0$14,677,766
99$29,937,081$0$0$16,075,605
100$32,789,260$0$0$17,612,895