Can I retire at age 58 with 1,390,000?

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 $1,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$114,785$113,762$112,765$111,791$110,841$106,653
2 years$56,824$55,766$54,740$53,746$52,781$48,611
3 years$37,507$36,444$35,421$34,435$33,487$29,465
4 years$27,850$26,790$25,777$24,809$23,883$20,041
5 years$22,057$21,004$20,004$19,056$18,155$14,502
6 years$18,196$17,151$16,166$15,239$14,366$10,904
7 years$15,440$14,403$13,434$12,529$11,683$8,412
8 years$13,374$12,346$11,393$10,510$9,692$6,609
9 years$11,767$10,750$9,813$8,952$8,162$5,262
10 years$10,483$9,475$8,555$7,717$6,955$4,232
11 years$9,433$8,435$7,532$6,716$5,981$3,430
12 years$8,558$7,571$6,684$5,891$5,183$2,798
13 years$7,819$6,842$5,972$5,201$4,520$2,293
14 years$7,186$6,219$5,366$4,617$3,962$1,886
15 years$6,637$5,681$4,845$4,117$3,489$1,557
16 years$6,158$5,213$4,392$3,687$3,083$1,288
17 years$5,736$4,801$3,997$3,312$2,734$1,068
18 years$5,361$4,436$3,649$2,985$2,431$887
19 years$5,025$4,111$3,340$2,697$2,167$738
20 years$4,724$3,820$3,065$2,443$1,935$614
21 years$4,452$3,559$2,820$2,217$1,732$512
22 years$4,205$3,322$2,599$2,016$1,552$427
23 years$3,979$3,107$2,399$1,836$1,393$357
24 years$3,773$2,911$2,219$1,674$1,252$298
25 years$3,584$2,732$2,055$1,529$1,127$249
26 years$3,409$2,567$1,906$1,398$1,015$208
27 years$3,248$2,416$1,770$1,280$915$174
28 years$3,098$2,277$1,646$1,173$826$145
29 years$2,959$2,148$1,531$1,075$746$122
30 years$2,829$2,028$1,426$987$674$102
31 years$2,709$1,918$1,330$906$609$85
32 years$2,595$1,814$1,241$833$551$71
33 years$2,489$1,718$1,158$766$499$60
34 years$2,390$1,628$1,082$705$452$50
35 years$2,296$1,545$1,012$649$409$42
36 years$2,208$1,466$947$597$371$35
37 years$2,124$1,392$886$551$336$29
38 years$2,046$1,323$830$507$304$25
39 years$1,971$1,258$777$468$276$21
40 years$1,900$1,197$729$432$250$17
41 years$1,833$1,140$683$398$227$14
42 years$1,770$1,085$641$367$206$12
43 years$1,709$1,034$601$339$187$10
44 years$1,652$986$565$313$170$8
45 years$1,597$940$530$289$154$7
46 years$1,544$897$498$267$140$6
47 years$1,494$856$468$247$127$5
48 years$1,447$817$440$228$115$4
49 years$1,401$780$413$211$105$3
50 years$1,357$745$388$195$95$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,390,000, adding $2,910 every year, while hoping to spend $51,813 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: 66/23/11 Blend
57$1,390,000$1,390,000$1,390,000$1,390,000
58$1,534,782$1,461,112$1,439,567$1,632,210
59$1,636,201$1,477,578$1,432,664$1,713,945
60$1,746,228$1,493,114$1,423,793$1,796,853
61$1,865,687$1,507,620$1,412,833$1,886,139
62$1,995,483$1,520,989$1,399,659$1,982,422
63$2,136,612$1,533,107$1,384,138$2,086,384
64$2,290,171$1,543,854$1,366,130$2,198,778
65$2,457,364$1,553,099$1,345,492$2,320,432
66$2,639,520$1,560,705$1,322,070$2,452,262
67$2,838,098$1,566,527$1,295,707$2,595,277
68$3,054,705$1,570,408$1,266,234$2,750,588
69$3,291,111$1,572,184$1,233,479$2,919,425
70$3,549,262$1,571,678$1,197,258$3,103,138
71$3,831,302$1,568,706$1,157,381$3,303,222
72$4,139,590$1,563,068$1,113,649$3,521,321
73$4,476,725$1,554,555$1,065,853$3,759,252
74$4,845,567$1,542,944$1,013,775$4,019,017
75$5,249,265$1,527,999$957,187$4,302,824
76$5,691,289$1,509,469$895,851$4,613,107
77$6,175,457$1,487,090$829,519$4,952,554
78$6,705,975$1,460,578$757,929$5,324,125
79$7,287,475$1,429,638$680,811$5,731,087
80$7,925,060$1,393,952$597,880$6,177,043
81$8,624,347$1,353,187$508,840$6,665,964
82$9,391,526$1,306,989$413,382$7,202,233
83$10,233,413$1,254,983$311,182$7,790,680
84$11,157,517$1,196,773$201,903$8,436,633
85$12,172,110$1,131,941$85,192$9,145,966
86$13,286,301$1,060,042$0$9,925,158
87$14,510,128$980,608$0$10,785,971
88$15,854,647$893,143$0$11,742,634
89$17,332,038$797,125$0$12,793,869
90$18,955,719$691,998$0$13,949,303
91$20,740,475$577,177$0$15,219,546
92$22,702,590$452,046$0$16,616,294
93$24,860,009$315,951$0$18,152,441
94$27,232,500$168,203$0$19,842,197
95$29,841,843$8,073$0$21,701,228
96$32,712,035$0$0$23,746,803
97$35,869,517$0$0$26,039,767
98$39,343,418$0$0$28,564,866
99$43,165,836$0$0$31,343,400
100$47,372,137$0$0$34,401,090