Can I retire at age 58 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$98,269$97,394$96,540$95,706$94,892$93,940
2 years$48,648$47,742$46,864$46,013$45,187$44,228
3 years$32,110$31,200$30,324$29,481$28,668$27,732
4 years$23,842$22,935$22,068$21,239$20,447$19,541
5 years$18,883$17,982$17,126$16,314$15,543$14,670
6 years$15,578$14,683$13,840$13,046$12,299$11,460
7 years$13,218$12,331$11,501$10,726$10,002$9,197
8 years$11,449$10,570$9,754$8,998$8,298$7,527
9 years$10,074$9,203$8,401$7,664$6,988$6,251
10 years$8,975$8,112$7,324$6,607$5,954$5,250
11 years$8,076$7,222$6,448$5,750$5,121$4,450
12 years$7,327$6,482$5,723$5,043$4,437$3,799
13 years$6,694$5,858$5,113$4,452$3,870$3,262
14 years$6,152$5,324$4,594$3,952$3,392$2,816
15 years$5,682$4,864$4,148$3,525$2,987$2,440
16 years$5,272$4,463$3,760$3,156$2,640$2,122
17 years$4,910$4,110$3,422$2,836$2,340$1,850
18 years$4,589$3,798$3,124$2,556$2,081$1,618
19 years$4,302$3,520$2,860$2,309$1,855$1,418
20 years$4,044$3,271$2,624$2,091$1,657$1,245
21 years$3,811$3,046$2,414$1,898$1,483$1,094
22 years$3,600$2,844$2,225$1,726$1,329$964
23 years$3,407$2,660$2,054$1,572$1,193$850
24 years$3,230$2,492$1,900$1,433$1,072$750
25 years$3,068$2,339$1,760$1,309$965$662
26 years$2,919$2,198$1,632$1,197$869$586
27 years$2,780$2,069$1,515$1,096$784$518
28 years$2,652$1,949$1,409$1,004$707$459
29 years$2,533$1,839$1,311$921$638$406
30 years$2,422$1,737$1,221$845$577$360
31 years$2,319$1,642$1,138$776$522$319
32 years$2,222$1,553$1,062$713$472$283
33 years$2,131$1,471$992$656$427$251
34 years$2,046$1,394$927$603$387$223
35 years$1,966$1,322$866$555$350$198
36 years$1,890$1,255$810$512$317$176
37 years$1,819$1,192$759$471$288$156
38 years$1,751$1,133$710$434$261$139
39 years$1,687$1,077$666$401$236$123
40 years$1,627$1,025$624$369$214$110
41 years$1,570$976$585$341$195$97
42 years$1,515$929$549$315$176$87
43 years$1,463$885$515$290$160$77
44 years$1,414$844$483$268$145$68
45 years$1,367$805$454$248$132$61
46 years$1,322$768$426$229$120$54
47 years$1,279$733$400$211$109$48
48 years$1,238$699$376$195$99$43
49 years$1,199$668$354$180$90$38
50 years$1,162$638$333$167$82$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,190,000, adding $6,436 every year, while hoping to spend $20,448 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: 37/35/28 Blend
57$1,190,000$1,190,000$1,190,000$1,190,000
58$1,318,019$1,254,949$1,236,504$1,355,556
59$1,430,700$1,294,685$1,256,170$1,423,606
60$1,554,190$1,335,682$1,275,810$1,494,737
61$1,689,568$1,377,982$1,295,401$1,571,182
62$1,838,026$1,421,625$1,314,919$1,653,432
63$2,000,875$1,466,655$1,334,338$1,742,033
64$2,179,558$1,513,115$1,353,633$1,837,580
65$2,375,667$1,561,051$1,372,773$1,940,732
66$2,590,953$1,610,511$1,391,729$2,052,210
67$2,827,347$1,661,543$1,410,469$2,172,812
68$3,086,975$1,714,197$1,428,958$2,303,411
69$3,372,179$1,768,525$1,447,161$2,444,972
70$3,685,539$1,824,581$1,465,039$2,598,556
71$4,029,898$1,882,419$1,482,551$2,765,330
72$4,408,387$1,942,097$1,499,657$2,946,580
73$4,824,457$2,003,674$1,516,309$3,143,721
74$5,281,907$2,067,210$1,532,461$3,358,311
75$5,784,927$2,132,768$1,548,064$3,592,067
76$6,338,128$2,200,413$1,563,063$3,846,878
77$6,946,595$2,270,211$1,577,403$4,124,825
78$7,615,928$2,342,232$1,591,027$4,428,201
79$8,352,298$2,416,546$1,603,871$4,759,529
80$9,162,503$2,493,227$1,615,871$5,121,590
81$10,054,034$2,572,351$1,626,959$5,517,446
82$11,035,145$2,653,997$1,637,062$5,950,472
83$12,114,932$2,738,244$1,646,105$6,424,382
84$13,303,414$2,825,177$1,654,009$6,943,271
85$14,611,633$2,914,881$1,660,689$7,511,648
86$16,051,755$3,007,446$1,666,058$8,134,481
87$17,637,187$3,102,964$1,670,023$8,817,243
88$19,382,699$3,201,528$1,672,488$9,565,965
89$21,304,569$3,303,238$1,673,351$10,387,288
90$23,420,732$3,408,193$1,672,505$11,288,534
91$25,750,951$3,516,499$1,669,839$12,277,766
92$28,317,004$3,628,263$1,665,234$13,363,869
93$31,142,887$3,743,597$1,658,568$14,556,632
94$34,255,042$3,862,614$1,649,711$15,866,843
95$37,682,609$3,985,434$1,638,528$17,306,387
96$41,457,694$4,112,179$1,624,878$18,888,359
97$45,615,678$4,242,976$1,608,611$20,627,189
98$50,195,550$4,377,955$1,589,573$22,538,777
99$55,240,272$4,517,250$1,567,599$24,640,643
100$60,797,186$4,661,002$1,542,519$26,952,092