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%11.6%
1 years$77,377$76,687$76,015$75,359$74,718$74,216
2 years$38,305$37,592$36,900$36,230$35,580$35,074
3 years$25,283$24,567$23,877$23,213$22,573$22,078
4 years$18,773$18,059$17,376$16,724$16,099$15,620
5 years$14,869$14,159$13,485$12,845$12,239$11,776
6 years$12,266$11,562$10,898$10,273$9,684$9,238
7 years$10,408$9,709$9,056$8,446$7,876$7,447
8 years$9,015$8,323$7,680$7,085$6,534$6,123
9 years$7,932$7,246$6,615$6,035$5,502$5,109
10 years$7,067$6,387$5,767$5,202$4,688$4,312
11 years$6,359$5,686$5,077$4,527$4,032$3,672
12 years$5,769$5,104$4,506$3,971$3,494$3,151
13 years$5,271$4,612$4,026$3,506$3,047$2,720
14 years$4,844$4,192$3,617$3,112$2,671$2,360
15 years$4,474$3,830$3,266$2,775$2,352$2,056
16 years$4,151$3,514$2,961$2,485$2,078$1,798
17 years$3,866$3,236$2,694$2,233$1,843$1,576
18 years$3,614$2,990$2,460$2,012$1,639$1,386
19 years$3,388$2,771$2,252$1,818$1,460$1,222
20 years$3,185$2,575$2,066$1,647$1,305$1,079
21 years$3,001$2,399$1,901$1,495$1,167$954
22 years$2,834$2,239$1,752$1,359$1,046$845
23 years$2,682$2,094$1,617$1,238$939$750
24 years$2,543$1,962$1,496$1,129$844$666
25 years$2,416$1,841$1,386$1,031$760$592
26 years$2,298$1,731$1,285$943$684$527
27 years$2,189$1,629$1,193$863$617$469
28 years$2,088$1,535$1,109$790$557$418
29 years$1,995$1,448$1,032$725$503$372
30 years$1,907$1,367$962$665$454$332
31 years$1,826$1,293$896$611$411$297
32 years$1,750$1,223$836$561$371$265
33 years$1,678$1,158$781$516$336$236
34 years$1,611$1,098$730$475$304$211
35 years$1,548$1,041$682$437$276$189
36 years$1,488$988$638$403$250$169
37 years$1,432$939$597$371$226$151
38 years$1,379$892$559$342$205$135
39 years$1,329$848$524$315$186$121
40 years$1,281$807$491$291$169$108
41 years$1,236$768$461$268$153$97
42 years$1,193$732$432$248$139$87
43 years$1,152$697$405$229$126$77
44 years$1,113$664$381$211$114$69
45 years$1,076$634$357$195$104$62
46 years$1,041$604$336$180$94$56
47 years$1,007$577$315$166$86$50
48 years$975$551$296$154$78$45
49 years$944$526$278$142$71$40
50 years$915$502$262$131$64$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $937,000, adding $4,109 every year, while hoping to spend $40,693 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: 70/5/25 Blend
57$937,000$937,000$937,000$937,000
58$1,036,812$987,151$972,628$1,102,527
59$1,099,270$992,225$961,914$1,152,114
60$1,166,735$996,183$949,477$1,201,263
61$1,239,674$998,928$935,217$1,254,103
62$1,318,602$1,000,357$919,028$1,310,999
63$1,404,084$1,000,359$900,800$1,372,353
64$1,496,741$998,817$880,417$1,438,609
65$1,597,256$995,606$857,758$1,510,254
66$1,706,381$990,596$832,698$1,587,831
67$1,824,942$983,645$805,104$1,671,934
68$1,953,849$974,606$774,837$1,763,222
69$2,094,101$963,322$741,754$1,862,421
70$2,246,799$949,624$705,702$1,970,332
71$2,413,153$933,337$666,524$2,087,839
72$2,594,498$914,273$624,056$2,215,917
73$2,792,298$892,234$578,123$2,355,644
74$3,008,168$867,009$528,546$2,508,207
75$3,243,885$838,377$475,136$2,674,917
76$3,501,406$806,101$417,698$2,857,219
77$3,782,882$769,934$356,024$3,056,708
78$4,090,686$729,610$289,901$3,275,144
79$4,427,428$684,852$219,103$3,514,469
80$4,795,981$635,365$143,399$3,776,823
81$5,199,510$580,838$62,542$4,064,570
82$5,641,501$520,940$0$4,380,313
83$6,125,792$455,324$0$4,733,263
84$6,656,609$383,621$0$5,138,469
85$7,238,609$305,444$0$5,582,801
86$7,876,918$220,381$0$6,070,193
87$8,577,183$128,000$0$6,604,977
88$9,345,625$27,841$0$7,191,928
89$10,189,096$0$0$7,836,304
90$11,115,143$0$0$8,548,334
91$12,132,079$0$0$9,331,983
92$13,249,063$0$0$10,192,784
93$14,476,185$0$0$11,138,518
94$15,824,557$0$0$12,177,758
95$17,306,426$0$0$13,319,948
96$18,935,280$0$0$14,575,493
97$20,725,980$0$0$15,955,857
98$22,694,900$0$0$17,473,669
99$24,860,077$0$0$19,142,842
100$27,241,388$0$0$20,978,707