Can I retire at age 58 with 1,470,000?

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 $1,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$121,391$120,310$119,255$118,225$117,220$116,092
2 years$60,095$58,975$57,891$56,839$55,819$54,683
3 years$39,665$38,541$37,459$36,417$35,414$34,305
4 years$29,452$28,332$27,261$26,237$25,257$24,184
5 years$23,326$22,212$21,155$20,152$19,200$18,165
6 years$19,244$18,138$17,097$16,116$15,193$14,198
7 years$16,329$15,232$14,207$13,250$12,356$11,401
8 years$14,143$13,057$12,049$11,115$10,250$9,336
9 years$12,444$11,368$10,378$9,467$8,632$7,758
10 years$11,086$10,021$9,048$8,161$7,355$6,520
11 years$9,976$8,921$7,965$7,103$6,326$5,529
12 years$9,051$8,007$7,069$6,230$5,482$4,723
13 years$8,269$7,236$6,316$5,500$4,780$4,059
14 years$7,599$6,577$5,675$4,882$4,190$3,505
15 years$7,020$6,008$5,124$4,354$3,689$3,040
16 years$6,513$5,513$4,645$3,899$3,261$2,645
17 years$6,066$5,077$4,227$3,503$2,891$2,309
18 years$5,669$4,691$3,859$3,157$2,571$2,020
19 years$5,315$4,348$3,532$2,852$2,291$1,771
20 years$4,996$4,040$3,242$2,583$2,047$1,556
21 years$4,708$3,763$2,982$2,345$1,831$1,369
22 years$4,447$3,513$2,748$2,132$1,642$1,207
23 years$4,208$3,286$2,538$1,942$1,474$1,065
24 years$3,990$3,078$2,347$1,771$1,325$940
25 years$3,790$2,889$2,174$1,617$1,192$831
26 years$3,605$2,715$2,016$1,479$1,074$736
27 years$3,435$2,555$1,872$1,353$968$651
28 years$3,276$2,408$1,740$1,240$873$577
29 years$3,129$2,271$1,619$1,137$789$512
30 years$2,992$2,145$1,508$1,044$713$454
31 years$2,864$2,028$1,406$958$644$403
32 years$2,745$1,919$1,312$881$583$358
33 years$2,633$1,817$1,225$810$527$317
34 years$2,527$1,722$1,145$745$478$282
35 years$2,428$1,633$1,070$686$433$251
36 years$2,335$1,550$1,001$632$392$223
37 years$2,247$1,473$937$582$355$198
38 years$2,163$1,399$877$537$322$176
39 years$2,084$1,331$822$495$292$157
40 years$2,010$1,266$771$456$265$139
41 years$1,939$1,205$723$421$240$124
42 years$1,872$1,148$678$389$218$110
43 years$1,808$1,094$636$359$198$98
44 years$1,747$1,042$597$331$180$87
45 years$1,689$994$561$306$163$78
46 years$1,633$948$526$283$148$69
47 years$1,580$905$495$261$134$61
48 years$1,530$864$465$241$122$55
49 years$1,481$825$437$223$111$49
50 years$1,435$788$411$206$101$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,470,000, adding $3,522 every year, while hoping to spend $49,962 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: 28/44/28 Blend
57$1,470,000$1,470,000$1,470,000$1,470,000
58$1,623,573$1,545,663$1,522,878$1,654,860
59$1,736,018$1,568,241$1,520,735$1,702,737
60$1,858,258$1,590,251$1,516,846$1,749,588
61$1,991,240$1,611,613$1,511,099$1,798,920
62$2,136,004$1,632,239$1,503,379$1,850,981
63$2,293,696$1,652,038$1,493,561$1,906,045
64$2,465,576$1,670,912$1,481,520$1,964,420
65$2,653,034$1,688,755$1,467,119$2,026,447
66$2,857,595$1,705,456$1,450,219$2,092,504
67$3,080,940$1,720,894$1,430,672$2,163,013
68$3,324,921$1,734,943$1,408,325$2,238,440
69$3,591,574$1,747,466$1,383,015$2,319,307
70$3,883,143$1,758,320$1,354,574$2,406,188
71$4,202,096$1,767,350$1,322,825$2,499,725
72$4,551,153$1,774,394$1,287,582$2,600,627
73$4,933,307$1,779,276$1,248,653$2,709,682
74$5,351,856$1,781,812$1,205,835$2,827,763
75$5,810,431$1,781,807$1,158,916$2,955,840
76$6,313,031$1,779,050$1,107,675$3,094,985
77$6,864,058$1,773,322$1,051,880$3,246,389
78$7,468,363$1,764,387$991,290$3,411,370
79$8,131,290$1,751,995$925,651$3,591,388
80$8,858,721$1,735,882$854,700$3,788,060
81$9,657,138$1,715,768$778,160$4,003,178
82$10,533,681$1,691,355$695,743$4,238,723
83$11,496,213$1,662,329$607,148$4,496,891
84$12,553,400$1,628,356$512,060$4,780,109
85$13,714,783$1,589,082$410,151$5,091,064
86$14,990,877$1,544,133$301,077$5,432,728
87$16,393,264$1,493,113$184,481$5,808,389
88$17,934,704$1,435,602$59,988$6,221,683
89$19,629,254$1,371,157$0$6,676,630
90$21,492,403$1,299,309$0$7,199,444
91$23,541,214$1,219,560$0$7,793,809
92$25,794,485$1,131,387$0$8,447,343
93$28,272,931$1,034,232$0$9,166,178
94$30,999,371$927,511$0$9,957,085
95$33,998,950$810,602$0$10,827,535
96$37,299,372$682,851$0$11,785,772
97$40,931,161$543,564$0$12,840,895
98$44,927,951$392,010$0$14,002,943
99$49,326,802$227,418$0$15,282,993
100$54,168,545$48,971$0$16,693,266