Can I retire at age 58 with 1,490,000?

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$123,043$121,947$120,878$119,834$118,815$117,967
2 years$60,912$59,778$58,678$57,612$56,578$55,724
3 years$40,205$39,065$37,969$36,913$35,896$35,060
4 years$29,853$28,717$27,632$26,594$25,601$24,792
5 years$23,644$22,515$21,443$20,426$19,462$18,680
6 years$19,505$18,385$17,329$16,335$15,399$14,647
7 years$16,551$15,440$14,401$13,430$12,524$11,801
8 years$14,336$13,235$12,213$11,266$10,390$9,697
9 years$12,614$11,523$10,519$9,596$8,750$8,086
10 years$11,237$10,157$9,171$8,272$7,455$6,820
11 years$10,111$9,042$8,074$7,199$6,412$5,806
12 years$9,174$8,116$7,165$6,315$5,556$4,978
13 years$8,381$7,334$6,402$5,575$4,845$4,294
14 years$7,703$6,667$5,752$4,949$4,247$3,723
15 years$7,115$6,090$5,193$4,413$3,740$3,242
16 years$6,601$5,588$4,708$3,952$3,305$2,832
17 years$6,148$5,146$4,284$3,551$2,930$2,482
18 years$5,746$4,755$3,911$3,200$2,606$2,181
19 years$5,387$4,407$3,580$2,891$2,322$1,921
20 years$5,064$4,095$3,286$2,619$2,074$1,695
21 years$4,772$3,815$3,022$2,377$1,856$1,498
22 years$4,507$3,561$2,786$2,161$1,664$1,326
23 years$4,266$3,330$2,572$1,968$1,494$1,175
24 years$4,045$3,120$2,379$1,795$1,343$1,043
25 years$3,841$2,928$2,203$1,639$1,208$926
26 years$3,654$2,752$2,043$1,499$1,088$824
27 years$3,481$2,590$1,897$1,372$981$733
28 years$3,321$2,441$1,764$1,257$885$652
29 years$3,172$2,302$1,641$1,153$799$581
30 years$3,033$2,174$1,529$1,058$722$518
31 years$2,903$2,055$1,425$972$653$462
32 years$2,782$1,945$1,330$893$591$412
33 years$2,668$1,842$1,242$821$535$368
34 years$2,562$1,746$1,160$755$484$328
35 years$2,461$1,656$1,085$695$438$293
36 years$2,366$1,572$1,015$640$397$262
37 years$2,277$1,493$950$590$360$234
38 years$2,193$1,418$889$544$326$209
39 years$2,113$1,349$833$502$296$187
40 years$2,037$1,283$781$463$268$167
41 years$1,965$1,222$732$427$244$149
42 years$1,897$1,163$687$394$221$134
43 years$1,832$1,108$645$364$201$120
44 years$1,770$1,057$605$336$182$107
45 years$1,711$1,008$568$310$165$96
46 years$1,655$961$534$286$150$86
47 years$1,602$917$501$265$136$77
48 years$1,551$876$471$244$124$68
49 years$1,502$836$443$226$112$61
50 years$1,455$799$416$209$102$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $1,490,000, adding $4,454 every year, while hoping to spend $49,683 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: 82/12/6 Blend
57$1,490,000$1,490,000$1,490,000$1,490,000
58$1,646,574$1,567,604$1,544,509$1,780,595
59$1,761,663$1,591,555$1,543,388$1,892,798
60$1,886,825$1,615,013$1,540,564$2,008,829
61$2,023,036$1,637,904$1,535,928$2,134,666
62$2,171,368$1,660,144$1,529,365$2,271,261
63$2,333,004$1,681,647$1,520,754$2,419,661
64$2,509,241$1,702,318$1,509,970$2,581,021
65$2,701,509$1,722,058$1,496,880$2,756,614
66$2,911,383$1,740,759$1,481,346$2,947,839
67$3,140,596$1,758,308$1,463,222$3,156,239
68$3,391,054$1,774,582$1,442,357$3,383,514
69$3,664,858$1,789,453$1,418,592$3,631,533
70$3,964,319$1,802,781$1,391,761$3,902,360
71$4,291,982$1,814,421$1,361,688$4,198,265
72$4,650,652$1,824,215$1,328,192$4,521,750
73$5,043,414$1,831,996$1,291,081$4,875,571
74$5,473,666$1,837,589$1,250,157$5,262,766
75$5,945,154$1,840,804$1,205,211$5,686,681
76$6,461,997$1,841,441$1,156,023$6,151,003
77$7,028,738$1,839,289$1,102,367$6,659,792
78$7,650,376$1,834,121$1,044,003$7,217,526
79$8,332,420$1,825,698$980,682$7,829,136
80$9,080,935$1,813,766$912,144$8,500,056
81$9,902,606$1,798,056$838,116$9,236,274
82$10,804,792$1,778,281$758,313$10,044,390
83$11,795,603$1,754,139$672,439$10,931,673
84$12,883,972$1,725,309$580,183$11,906,137
85$14,079,738$1,691,451$481,221$12,976,612
86$15,393,744$1,652,204$375,214$14,152,827
87$16,837,930$1,607,187$261,808$15,445,505
88$18,425,456$1,555,995$140,635$16,866,462
89$20,170,816$1,498,203$11,310$18,428,720
90$22,089,980$1,433,356$0$20,146,627
91$24,200,545$1,360,976$0$22,044,110
92$26,521,894$1,280,558$0$24,131,784
93$29,075,387$1,191,565$0$26,428,156
94$31,884,557$1,093,432$0$28,954,423
95$34,975,331$985,560$0$31,733,937
96$38,376,279$867,317$0$34,792,435
97$42,118,878$738,033$0$38,158,278
98$46,237,811$597,004$0$41,862,717
99$50,771,293$443,483$0$45,940,192
100$55,761,433$276,682$0$50,428,655