Can I retire at age 58 with 1,310,000?

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 $1,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$108,179$107,215$106,275$105,357$104,461$101,036
2 years$53,554$52,556$51,590$50,653$49,743$46,326
3 years$35,348$34,346$33,382$32,454$31,559$28,256
4 years$26,247$25,248$24,294$23,381$22,508$19,345
5 years$20,787$19,795$18,853$17,959$17,110$14,095
6 years$17,149$16,164$15,236$14,362$13,539$10,674
7 years$14,551$13,574$12,661$11,808$11,011$8,296
8 years$12,604$11,636$10,738$9,905$9,135$6,568
9 years$11,090$10,131$9,248$8,437$7,693$5,271
10 years$9,880$8,930$8,063$7,273$6,554$4,274
11 years$8,890$7,950$7,098$6,329$5,637$3,494
12 years$8,066$7,135$6,300$5,552$4,885$2,874
13 years$7,369$6,448$5,628$4,901$4,260$2,377
14 years$6,772$5,861$5,057$4,351$3,734$1,973
15 years$6,255$5,354$4,566$3,880$3,288$1,644
16 years$5,804$4,913$4,140$3,474$2,906$1,373
17 years$5,406$4,524$3,767$3,122$2,576$1,149
18 years$5,052$4,181$3,439$2,813$2,291$964
19 years$4,736$3,875$3,148$2,542$2,042$810
20 years$4,452$3,600$2,889$2,302$1,824$681
21 years$4,196$3,354$2,657$2,089$1,632$573
22 years$3,963$3,131$2,449$1,900$1,463$483
23 years$3,750$2,928$2,261$1,730$1,313$407
24 years$3,556$2,743$2,091$1,578$1,180$344
25 years$3,377$2,574$1,937$1,441$1,062$290
26 years$3,213$2,420$1,797$1,318$957$245
27 years$3,061$2,277$1,668$1,206$863$207
28 years$2,920$2,146$1,551$1,105$778$175
29 years$2,789$2,024$1,443$1,013$703$148
30 years$2,667$1,912$1,344$930$635$125
31 years$2,553$1,807$1,253$854$574$106
32 years$2,446$1,710$1,169$785$519$90
33 years$2,346$1,619$1,092$722$470$76
34 years$2,252$1,535$1,020$664$426$64
35 years$2,164$1,456$954$611$385$54
36 years$2,081$1,382$892$563$349$46
37 years$2,002$1,312$835$519$317$39
38 years$1,928$1,247$782$478$287$33
39 years$1,858$1,186$733$441$260$28
40 years$1,791$1,128$687$407$236$24
41 years$1,728$1,074$644$375$214$20
42 years$1,668$1,023$604$346$194$17
43 years$1,611$975$567$320$176$14
44 years$1,556$929$532$295$160$12
45 years$1,505$886$500$273$145$10
46 years$1,455$845$469$252$132$9
47 years$1,408$806$441$233$120$7
48 years$1,363$770$414$215$109$6
49 years$1,320$735$389$199$99$5
50 years$1,279$702$366$184$90$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,310,000, adding $3,098 every year, while hoping to spend $54,491 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: 38/35/27 Blend
57$1,310,000$1,310,000$1,310,000$1,310,000
58$1,446,816$1,377,386$1,357,081$1,490,055
59$1,536,413$1,386,899$1,344,565$1,531,548
60$1,633,323$1,395,053$1,329,803$1,571,124
61$1,738,233$1,401,723$1,312,664$1,612,844
62$1,851,902$1,406,776$1,293,007$1,656,940
63$1,975,160$1,410,072$1,270,687$1,703,668
64$2,108,923$1,411,462$1,245,551$1,753,314
65$2,254,197$1,410,788$1,217,441$1,806,196
66$2,412,090$1,407,881$1,186,190$1,862,670
67$2,583,818$1,402,562$1,151,623$1,923,131
68$2,770,722$1,394,643$1,113,556$1,988,022
69$2,974,276$1,383,920$1,071,801$2,057,830
70$3,196,102$1,370,182$1,026,156$2,133,103
71$3,437,986$1,353,202$976,413$2,214,446
72$3,701,891$1,332,740$922,354$2,302,534
73$3,989,982$1,308,543$863,751$2,398,115
74$4,304,639$1,280,340$800,366$2,502,022
75$4,648,483$1,247,847$731,949$2,615,178
76$5,024,399$1,210,763$658,240$2,738,608
77$5,435,565$1,168,767$578,967$2,873,449
78$5,885,477$1,121,521$493,848$3,020,964
79$6,377,989$1,068,669$402,584$3,182,550
80$6,917,340$1,009,830$304,868$3,359,760
81$7,508,203$944,606$200,375$3,554,311
82$8,155,720$872,572$88,768$3,768,110
83$8,865,558$793,282$0$4,003,266
84$9,643,954$706,262$0$4,270,854
85$10,497,781$611,012$0$4,592,583
86$11,434,607$507,005$0$4,945,826
87$12,462,771$393,682$0$5,333,870
88$13,591,455$270,454$0$5,760,343
89$14,830,776$136,699$0$6,229,252
90$16,191,877$0$0$6,745,020
91$17,687,033$0$0$7,315,707
92$19,329,768$0$0$8,000,755
93$21,134,980$0$0$8,753,752
94$23,119,081$0$0$9,581,567
95$25,300,153$0$0$10,491,769
96$27,698,117$0$0$11,492,699
97$30,334,919$0$0$12,593,542
98$33,234,740$0$0$13,804,421
99$36,424,221$0$0$15,136,490
100$39,932,715$0$0$16,602,037