Can I retire at age 58 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$101,572$100,667$99,785$98,923$98,082$96,259
2 years$50,283$49,347$48,439$47,559$46,706$44,876
3 years$33,189$32,249$31,343$30,472$29,632$27,853
4 years$24,644$23,706$22,810$21,953$21,134$19,418
5 years$19,518$18,586$17,701$16,862$16,066$14,419
6 years$16,102$15,177$14,305$13,485$12,712$11,136
7 years$13,663$12,745$11,888$11,087$10,338$8,833
8 years$11,834$10,925$10,082$9,300$8,577$7,142
9 years$10,413$9,512$8,683$7,922$7,223$5,858
10 years$9,276$8,385$7,570$6,829$6,154$4,858
11 years$8,347$7,464$6,665$5,943$5,293$4,064
12 years$7,573$6,700$5,915$5,213$4,587$3,423
13 years$6,919$6,055$5,285$4,602$4,000$2,899
14 years$6,359$5,503$4,748$4,085$3,506$2,467
15 years$5,873$5,027$4,287$3,643$3,087$2,108
16 years$5,449$4,613$3,887$3,262$2,728$1,806
17 years$5,076$4,248$3,537$2,931$2,419$1,552
18 years$4,744$3,925$3,229$2,641$2,151$1,337
19 years$4,447$3,638$2,956$2,387$1,917$1,153
20 years$4,180$3,381$2,713$2,162$1,712$997
21 years$3,939$3,149$2,495$1,962$1,532$863
22 years$3,721$2,939$2,300$1,784$1,374$748
23 years$3,521$2,749$2,123$1,625$1,233$649
24 years$3,339$2,576$1,964$1,482$1,108$563
25 years$3,171$2,417$1,819$1,353$997$489
26 years$3,017$2,272$1,687$1,237$898$426
27 years$2,874$2,138$1,566$1,132$810$370
28 years$2,741$2,015$1,456$1,038$731$322
29 years$2,618$1,901$1,355$951$660$281
30 years$2,504$1,795$1,262$873$596$244
31 years$2,397$1,697$1,177$802$539$213
32 years$2,297$1,606$1,098$737$488$186
33 years$2,203$1,520$1,025$678$441$162
34 years$2,115$1,441$958$624$400$141
35 years$2,032$1,367$895$574$362$123
36 years$1,954$1,297$838$529$328$107
37 years$1,880$1,232$784$487$297$94
38 years$1,810$1,171$734$449$269$82
39 years$1,744$1,113$688$414$244$71
40 years$1,682$1,059$645$382$222$62
41 years$1,622$1,008$605$352$201$54
42 years$1,566$960$567$325$182$47
43 years$1,512$915$532$300$166$41
44 years$1,461$872$500$277$150$36
45 years$1,413$832$469$256$136$32
46 years$1,366$793$441$236$124$28
47 years$1,322$757$414$218$112$24
48 years$1,280$723$389$202$102$21
49 years$1,240$690$366$187$93$18
50 years$1,201$659$344$172$84$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,230,000, adding $3,497 every year, while hoping to spend $48,631 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: 44/37/19 Blend
57$1,230,000$1,230,000$1,230,000$1,230,000
58$1,359,067$1,293,877$1,274,812$1,411,255
59$1,445,949$1,305,534$1,265,775$1,459,972
60$1,540,063$1,316,132$1,254,806$1,507,679
61$1,642,095$1,325,569$1,241,788$1,558,375
62$1,752,800$1,333,733$1,226,599$1,612,361
63$1,873,009$1,340,509$1,209,113$1,669,968
64$2,003,633$1,345,772$1,189,196$1,731,564
65$2,145,678$1,349,389$1,166,708$1,797,559
66$2,300,249$1,351,220$1,141,504$1,868,405
67$2,468,560$1,351,115$1,113,431$1,944,603
68$2,651,950$1,348,917$1,082,328$2,026,710
69$2,851,891$1,344,456$1,048,028$2,115,340
70$3,070,004$1,337,555$1,010,357$2,211,177
71$3,308,072$1,328,022$969,131$2,314,975
72$3,568,058$1,315,658$924,159$2,427,571
73$3,852,123$1,300,248$875,242$2,549,891
74$4,162,646$1,281,567$822,169$2,682,960
75$4,502,248$1,259,376$764,724$2,827,912
76$4,873,811$1,233,419$702,676$2,986,004
77$5,280,513$1,203,430$635,789$3,158,623
78$5,725,850$1,169,123$563,813$3,347,306
79$6,213,673$1,130,196$486,487$3,553,753
80$6,748,224$1,086,332$403,540$3,779,843
81$7,334,172$1,037,191$314,688$4,027,654
82$7,976,663$982,419$219,635$4,299,484
83$8,681,361$921,636$118,071$4,597,874
84$9,454,507$854,443$9,674$4,925,631
85$10,302,975$780,420$0$5,285,857
86$11,234,337$699,118$0$5,703,473
87$12,256,931$610,067$0$6,164,267
88$13,379,946$512,768$0$6,670,537
89$14,613,502$406,696$0$7,226,985
90$15,968,749$291,293$0$7,838,800
91$17,457,967$165,972$0$8,511,711
92$19,094,688$30,113$0$9,252,035
93$20,893,819$0$0$10,066,746
94$22,871,783$0$0$11,011,151
95$25,046,673$0$0$12,063,226
96$27,438,424$0$0$13,220,374
97$30,068,999$0$0$14,493,242
98$32,962,596$0$0$15,893,561
99$36,145,877$0$0$17,434,255
100$39,648,216$0$0$19,129,567