Can I retire at age 58 with 935,000?

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 $935,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$77,211$76,524$75,853$75,198$74,558$71,628
2 years$38,223$37,512$36,822$36,153$35,504$32,588
3 years$25,229$24,514$23,826$23,163$22,525$19,715
4 years$18,733$18,021$17,339$16,688$16,065$13,382
5 years$14,837$14,128$13,456$12,818$12,212$9,663
6 years$12,240$11,537$10,874$10,251$9,663$7,250
7 years$10,386$9,689$9,037$8,428$7,859$5,580
8 years$8,996$8,305$7,664$7,070$6,520$4,373
9 years$7,915$7,231$6,601$6,022$5,491$3,474
10 years$7,051$6,374$5,755$5,191$4,678$2,787
11 years$6,345$5,674$5,066$4,518$4,023$2,253
12 years$5,757$5,093$4,496$3,963$3,487$1,832
13 years$5,260$4,602$4,017$3,498$3,040$1,498
14 years$4,834$4,183$3,609$3,105$2,665$1,229
15 years$4,465$3,822$3,259$2,769$2,347$1,011
16 years$4,142$3,506$2,955$2,480$2,074$834
17 years$3,858$3,229$2,689$2,228$1,839$690
18 years$3,606$2,984$2,454$2,008$1,635$571
19 years$3,380$2,765$2,247$1,814$1,457$474
20 years$3,178$2,570$2,062$1,643$1,302$393
21 years$2,995$2,394$1,897$1,491$1,165$327
22 years$2,828$2,234$1,748$1,356$1,044$272
23 years$2,677$2,090$1,614$1,235$937$226
24 years$2,538$1,958$1,493$1,126$842$188
25 years$2,411$1,837$1,383$1,029$758$157
26 years$2,293$1,727$1,282$941$683$131
27 years$2,185$1,625$1,191$861$616$109
28 years$2,084$1,531$1,107$789$556$91
29 years$1,990$1,445$1,030$723$502$76
30 years$1,903$1,364$959$664$453$63
31 years$1,822$1,290$894$610$410$53
32 years$1,746$1,220$835$560$371$44
33 years$1,674$1,156$779$515$335$37
34 years$1,607$1,095$728$474$304$31
35 years$1,544$1,039$681$436$275$26
36 years$1,485$986$637$402$249$21
37 years$1,429$937$596$370$226$18
38 years$1,376$890$558$341$205$15
39 years$1,326$846$523$315$186$12
40 years$1,278$805$490$290$168$10
41 years$1,233$767$460$268$153$9
42 years$1,190$730$431$247$139$7
43 years$1,150$696$405$228$126$6
44 years$1,111$663$380$211$114$5
45 years$1,074$632$357$195$104$4
46 years$1,039$603$335$180$94$3
47 years$1,005$576$315$166$86$3
48 years$973$549$296$153$78$2
49 years$942$525$278$142$71$2
50 years$913$501$261$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $935,000, adding $3,934 every year, while hoping to spend $53,767 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: 77/11/12 Blend
57$935,000$935,000$935,000$935,000
58$1,034,428$984,873$970,380$1,111,388
59$1,082,732$975,924$945,680$1,153,668
60$1,134,161$964,735$918,351$1,192,785
61$1,188,977$951,138$888,247$1,234,160
62$1,247,466$934,958$855,218$1,277,996
63$1,309,944$916,007$819,104$1,324,520
64$1,376,755$894,088$779,740$1,373,979
65$1,448,276$868,990$736,953$1,426,650
66$1,524,922$840,492$690,563$1,482,836
67$1,607,146$808,359$640,379$1,542,872
68$1,695,448$772,341$586,205$1,607,128
69$1,790,374$732,177$527,833$1,676,013
70$1,892,526$687,587$465,049$1,749,977
71$2,002,562$638,277$397,627$1,829,518
72$2,121,208$583,937$325,331$1,915,187
73$2,249,258$524,237$247,917$2,007,591
74$2,387,588$458,830$165,128$2,107,399
75$2,537,157$387,348$76,696$2,215,352
76$2,699,023$309,404$0$2,332,266
77$2,874,347$224,588$0$2,461,307
78$3,064,404$132,467$0$2,611,835
79$3,270,598$32,583$0$2,775,156
80$3,494,474$0$0$2,952,525
81$3,737,728$0$0$3,154,469
82$4,002,229$0$0$3,378,369
83$4,290,031$0$0$3,622,024
84$4,603,396$0$0$3,887,352
85$4,944,812$0$0$4,176,464
86$5,317,016$0$0$4,491,682
87$5,723,021$0$0$4,835,563
88$6,166,144$0$0$5,210,921
89$6,650,036$0$0$5,620,852
90$7,178,716$0$0$6,068,766
91$7,756,608$0$0$6,558,417
92$8,388,584$0$0$7,093,937
93$9,080,006$0$0$7,679,877
94$9,836,781$0$0$8,321,247
95$10,665,411$0$0$9,023,564
96$11,573,057$0$0$9,792,905
97$12,567,607$0$0$10,635,960
98$13,657,744$0$0$11,560,099
99$14,853,035$0$0$12,573,436
100$16,164,016$0$0$13,684,912