Can I retire at age 58 with 937,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.7%
1 years$77,377$76,687$76,015$75,359$74,718$74,185
2 years$38,305$37,592$36,900$36,230$35,580$35,042
3 years$25,283$24,567$23,877$23,213$22,573$22,048
4 years$18,773$18,059$17,376$16,724$16,099$15,590
5 years$14,869$14,159$13,485$12,845$12,239$11,747
6 years$12,266$11,562$10,898$10,273$9,684$9,211
7 years$10,408$9,709$9,056$8,446$7,876$7,421
8 years$9,015$8,323$7,680$7,085$6,534$6,098
9 years$7,932$7,246$6,615$6,035$5,502$5,085
10 years$7,067$6,387$5,767$5,202$4,688$4,289
11 years$6,359$5,686$5,077$4,527$4,032$3,651
12 years$5,769$5,104$4,506$3,971$3,494$3,131
13 years$5,271$4,612$4,026$3,506$3,047$2,701
14 years$4,844$4,192$3,617$3,112$2,671$2,341
15 years$4,474$3,830$3,266$2,775$2,352$2,039
16 years$4,151$3,514$2,961$2,485$2,078$1,781
17 years$3,866$3,236$2,694$2,233$1,843$1,561
18 years$3,614$2,990$2,460$2,012$1,639$1,372
19 years$3,388$2,771$2,252$1,818$1,460$1,208
20 years$3,185$2,575$2,066$1,647$1,305$1,066
21 years$3,001$2,399$1,901$1,495$1,167$942
22 years$2,834$2,239$1,752$1,359$1,046$834
23 years$2,682$2,094$1,617$1,238$939$739
24 years$2,543$1,962$1,496$1,129$844$656
25 years$2,416$1,841$1,386$1,031$760$583
26 years$2,298$1,731$1,285$943$684$518
27 years$2,189$1,629$1,193$863$617$461
28 years$2,088$1,535$1,109$790$557$410
29 years$1,995$1,448$1,032$725$503$365
30 years$1,907$1,367$962$665$454$326
31 years$1,826$1,293$896$611$411$291
32 years$1,750$1,223$836$561$371$259
33 years$1,678$1,158$781$516$336$231
34 years$1,611$1,098$730$475$304$206
35 years$1,548$1,041$682$437$276$184
36 years$1,488$988$638$403$250$165
37 years$1,432$939$597$371$226$147
38 years$1,379$892$559$342$205$132
39 years$1,329$848$524$315$186$118
40 years$1,281$807$491$291$169$105
41 years$1,236$768$461$268$153$94
42 years$1,193$732$432$248$139$84
43 years$1,152$697$405$229$126$75
44 years$1,113$664$381$211$114$67
45 years$1,076$634$357$195$104$60
46 years$1,041$604$336$180$94$54
47 years$1,007$577$315$166$86$48
48 years$975$551$296$154$78$43
49 years$944$526$278$142$71$39
50 years$915$502$262$131$64$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $937,000, adding $3,647 every year, while hoping to spend $43,861 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: 42/46/12 Blend
57$937,000$937,000$937,000$937,000
58$1,036,336$986,675$972,151$1,076,073
59$1,095,374$988,354$958,051$1,105,960
60$1,158,965$988,646$942,008$1,133,645
61$1,227,525$987,435$923,911$1,162,654
62$1,301,514$984,601$903,643$1,193,127
63$1,381,437$980,015$881,084$1,225,219
64$1,467,848$973,540$856,104$1,259,107
65$1,561,356$965,031$828,571$1,294,985
66$1,662,631$954,335$798,345$1,333,072
67$1,772,410$941,287$765,280$1,373,612
68$1,891,502$925,717$729,224$1,416,878
69$2,020,799$907,440$690,016$1,463,175
70$2,161,278$886,263$647,490$1,512,841
71$2,314,020$861,981$601,472$1,566,255
72$2,480,208$834,376$551,779$1,623,838
73$2,661,147$803,218$498,221$1,686,059
74$2,858,272$768,264$440,600$1,753,441
75$3,073,164$729,257$378,708$1,826,566
76$3,307,560$685,924$312,328$1,906,079
77$3,563,373$637,977$241,234$1,992,699
78$3,842,711$585,111$165,189$2,087,225
79$4,147,891$527,005$83,946$2,190,544
80$4,481,466$463,319$0$2,303,642
81$4,846,246$393,692$0$2,427,966
82$5,245,326$317,745$0$2,575,869
83$5,682,111$235,077$0$2,737,977
84$6,160,354$145,263$0$2,915,819
85$6,684,186$47,857$0$3,111,092
86$7,258,156$0$0$3,325,675
87$7,887,275$0$0$3,590,807
88$8,577,061$0$0$3,908,186
89$9,333,592$0$0$4,256,398
90$10,163,561$0$0$4,638,538
91$11,074,342$0$0$5,058,019
92$12,074,057$0$0$5,518,597
93$13,171,652$0$0$6,024,410
94$14,376,983$0$0$6,580,019
95$15,700,904$0$0$7,190,444
96$17,155,375$0$0$7,861,220
97$18,753,572$0$0$8,598,442
98$20,510,007$0$0$9,408,824
99$22,440,671$0$0$10,299,766
100$24,563,181$0$0$11,279,418