Can I retire at age 58 with 937,000?

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 $937,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$77,377$76,687$76,015$75,359$74,718$72,471
2 years$38,305$37,592$36,900$36,230$35,580$33,335
3 years$25,283$24,567$23,877$23,213$22,573$20,401
4 years$18,773$18,059$17,376$16,724$16,099$14,017
5 years$14,869$14,159$13,485$12,845$12,239$10,250
6 years$12,266$11,562$10,898$10,273$9,684$7,792
7 years$10,408$9,709$9,056$8,446$7,876$6,081
8 years$9,015$8,323$7,680$7,085$6,534$4,834
9 years$7,932$7,246$6,615$6,035$5,502$3,896
10 years$7,067$6,387$5,767$5,202$4,688$3,173
11 years$6,359$5,686$5,077$4,527$4,032$2,606
12 years$5,769$5,104$4,506$3,971$3,494$2,154
13 years$5,271$4,612$4,026$3,506$3,047$1,789
14 years$4,844$4,192$3,617$3,112$2,671$1,493
15 years$4,474$3,830$3,266$2,775$2,352$1,249
16 years$4,151$3,514$2,961$2,485$2,078$1,049
17 years$3,866$3,236$2,694$2,233$1,843$883
18 years$3,614$2,990$2,460$2,012$1,639$744
19 years$3,388$2,771$2,252$1,818$1,460$628
20 years$3,185$2,575$2,066$1,647$1,305$531
21 years$3,001$2,399$1,901$1,495$1,167$450
22 years$2,834$2,239$1,752$1,359$1,046$381
23 years$2,682$2,094$1,617$1,238$939$323
24 years$2,543$1,962$1,496$1,129$844$274
25 years$2,416$1,841$1,386$1,031$760$233
26 years$2,298$1,731$1,285$943$684$198
27 years$2,189$1,629$1,193$863$617$168
28 years$2,088$1,535$1,109$790$557$143
29 years$1,995$1,448$1,032$725$503$121
30 years$1,907$1,367$962$665$454$103
31 years$1,826$1,293$896$611$411$88
32 years$1,750$1,223$836$561$371$75
33 years$1,678$1,158$781$516$336$64
34 years$1,611$1,098$730$475$304$54
35 years$1,548$1,041$682$437$276$46
36 years$1,488$988$638$403$250$39
37 years$1,432$939$597$371$226$33
38 years$1,379$892$559$342$205$28
39 years$1,329$848$524$315$186$24
40 years$1,281$807$491$291$169$21
41 years$1,236$768$461$268$153$18
42 years$1,193$732$432$248$139$15
43 years$1,152$697$405$229$126$13
44 years$1,113$664$381$211$114$11
45 years$1,076$634$357$195$104$9
46 years$1,041$604$336$180$94$8
47 years$1,007$577$315$166$86$7
48 years$975$551$296$154$78$6
49 years$944$526$278$142$71$5
50 years$915$502$262$131$64$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $937,000, adding $5,498 every year, while hoping to spend $50,556 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: 61/28/11 Blend
57$937,000$937,000$937,000$937,000
58$1,038,245$988,584$974,061$1,098,581
59$1,090,355$983,234$952,901$1,134,367
60$1,146,086$975,926$929,337$1,167,141
61$1,205,753$966,513$903,236$1,201,657
62$1,269,703$954,836$874,459$1,238,088
63$1,338,317$940,727$842,857$1,276,623
64$1,412,012$924,009$808,279$1,317,473
65$1,491,244$904,493$770,563$1,360,872
66$1,576,517$881,979$729,543$1,407,081
67$1,668,383$856,257$685,044$1,456,389
68$1,767,447$827,103$636,882$1,509,116
69$1,874,376$794,280$584,867$1,565,620
70$1,989,902$757,539$528,799$1,626,297
71$2,114,827$716,614$468,470$1,691,585
72$2,250,037$671,225$403,661$1,761,972
73$2,396,502$621,077$334,145$1,837,998
74$2,555,290$565,855$259,684$1,920,263
75$2,727,578$505,229$180,031$2,009,430
76$2,914,655$438,850$94,926$2,106,237
77$3,117,943$366,347$4,100$2,211,499
78$3,339,006$287,331$0$2,326,120
79$3,579,563$201,388$0$2,461,998
80$3,841,505$108,083$0$2,610,569
81$4,126,916$6,956$0$2,772,614
82$4,438,086$0$0$2,949,532
83$4,777,538$0$0$3,174,441
84$5,148,047$0$0$3,422,336
85$5,552,669$0$0$3,693,125
86$5,994,767$0$0$3,989,068
87$6,478,045$0$0$4,312,654
88$7,006,579$0$0$4,666,621
89$7,584,858$0$0$5,053,987
90$8,217,826$0$0$5,478,072
91$8,910,924$0$0$5,942,534
92$9,670,147$0$0$6,451,401
93$10,502,096$0$0$7,009,108
94$11,414,040$0$0$7,620,540
95$12,413,985$0$0$8,291,079
96$13,510,749$0$0$9,026,649
97$14,714,045$0$0$9,833,779
98$16,034,571$0$0$10,719,659
99$17,484,112$0$0$11,692,207
100$19,075,646$0$0$12,760,148