Can I retire at age 58 with 934,000?

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 $934,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$77,129$76,442$75,772$75,117$74,478$73,548
2 years$38,183$37,471$36,782$36,114$35,466$34,529
3 years$25,202$24,488$23,801$23,139$22,501$21,588
4 years$18,713$18,001$17,321$16,670$16,048$15,165
5 years$14,821$14,113$13,442$12,804$12,199$11,349
6 years$12,227$11,525$10,863$10,240$9,653$8,837
7 years$10,375$9,678$9,027$8,419$7,850$7,069
8 years$8,986$8,296$7,656$7,062$6,513$5,765
9 years$7,907$7,223$6,594$6,015$5,485$4,771
10 years$7,044$6,367$5,749$5,185$4,673$3,993
11 years$6,338$5,668$5,061$4,513$4,019$3,372
12 years$5,751$5,087$4,492$3,958$3,483$2,867
13 years$5,254$4,597$4,013$3,495$3,037$2,453
14 years$4,828$4,179$3,606$3,102$2,662$2,108
15 years$4,460$3,818$3,255$2,767$2,344$1,820
16 years$4,138$3,503$2,951$2,477$2,072$1,576
17 years$3,854$3,226$2,686$2,226$1,837$1,369
18 years$3,602$2,981$2,452$2,006$1,633$1,192
19 years$3,377$2,763$2,244$1,812$1,456$1,040
20 years$3,174$2,567$2,060$1,641$1,300$909
21 years$2,991$2,391$1,895$1,490$1,164$795
22 years$2,825$2,232$1,746$1,355$1,043$697
23 years$2,674$2,088$1,612$1,234$936$612
24 years$2,535$1,956$1,491$1,125$842$538
25 years$2,408$1,836$1,381$1,028$757$473
26 years$2,291$1,725$1,281$940$682$416
27 years$2,182$1,624$1,189$860$615$366
28 years$2,082$1,530$1,106$788$555$323
29 years$1,988$1,443$1,029$723$501$284
30 years$1,901$1,363$958$663$453$251
31 years$1,820$1,288$894$609$409$221
32 years$1,744$1,219$834$560$370$195
33 years$1,673$1,155$778$515$335$172
34 years$1,606$1,094$727$474$303$152
35 years$1,543$1,038$680$436$275$135
36 years$1,483$985$636$401$249$119
37 years$1,427$936$595$370$226$105
38 years$1,374$889$558$341$205$93
39 years$1,324$846$522$314$186$82
40 years$1,277$804$490$290$168$73
41 years$1,232$766$459$268$153$64
42 years$1,189$729$431$247$139$57
43 years$1,148$695$404$228$126$50
44 years$1,110$662$379$210$114$44
45 years$1,073$632$356$194$104$39
46 years$1,038$603$335$180$94$35
47 years$1,004$575$314$166$85$31
48 years$972$549$295$153$78$27
49 years$941$524$278$142$70$24
50 years$912$501$261$131$64$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $934,000, adding $3,426 every year, while hoping to spend $43,420 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: 80/12/8 Blend
57$934,000$934,000$934,000$934,000
58$1,032,802$983,300$968,823$1,114,080
59$1,091,949$985,283$955,080$1,169,821
60$1,155,674$985,908$939,421$1,224,916
61$1,224,398$985,063$921,737$1,284,070
62$1,298,583$982,628$901,912$1,347,666
63$1,378,738$978,476$879,826$1,416,126
64$1,465,422$972,473$855,352$1,489,915
65$1,559,248$964,477$828,359$1,569,547
66$1,660,891$954,337$798,709$1,655,586
67$1,771,093$941,891$766,257$1,748,654
68$1,890,672$926,970$730,854$1,849,437
69$2,020,523$909,395$692,340$1,958,690
70$2,161,635$888,973$650,552$2,077,248
71$2,315,093$865,505$605,317$2,206,027
72$2,482,093$838,775$556,455$2,346,039
73$2,663,949$808,557$503,779$2,498,401
74$2,862,107$774,612$447,091$2,664,340
75$3,078,161$736,686$386,187$2,845,212
76$3,313,861$694,512$320,853$3,042,510
77$3,571,138$647,806$250,864$3,257,882
78$3,852,113$596,268$175,987$3,493,140
79$4,159,125$539,581$95,979$3,750,288
80$4,494,746$477,411$10,584$4,031,528
81$4,861,809$409,403$0$4,339,294
82$5,263,433$335,183$0$4,683,141
83$5,703,053$254,357$0$5,060,557
84$6,184,451$166,507$0$5,473,922
85$6,711,792$71,193$0$5,926,851
86$7,289,662$0$0$6,423,330
87$7,923,112$0$0$6,971,981
88$8,617,707$0$0$7,583,925
89$9,379,573$0$0$8,255,162
90$10,215,460$0$0$8,991,643
91$11,132,801$0$0$9,799,920
92$12,139,784$0$0$10,687,212
93$13,245,430$0$0$11,661,470
94$14,459,675$0$0$12,731,454
95$15,793,464$0$0$13,906,812
96$17,258,855$0$0$15,198,174
97$18,869,131$0$0$16,617,251
98$20,638,926$0$0$18,176,943
99$22,584,363$0$0$19,891,462
100$24,723,202$0$0$21,776,467