Can I retire at age 58 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$77,459$76,769$76,096$75,439$74,797$72,000
2 years$38,346$37,632$36,940$36,269$35,618$32,832
3 years$25,310$24,593$23,903$23,238$22,597$19,910
4 years$18,793$18,078$17,395$16,741$16,117$13,549
5 years$14,884$14,174$13,499$12,859$12,252$9,810
6 years$12,279$11,574$10,909$10,283$9,694$7,380
7 years$10,419$9,720$9,066$8,455$7,884$5,697
8 years$9,025$8,332$7,688$7,092$6,541$4,478
9 years$7,941$7,254$6,622$6,041$5,508$3,568
10 years$7,074$6,394$5,773$5,208$4,693$2,871
11 years$6,365$5,692$5,083$4,532$4,036$2,329
12 years$5,775$5,109$4,511$3,975$3,498$1,901
13 years$5,276$4,617$4,030$3,510$3,050$1,559
14 years$4,849$4,197$3,621$3,115$2,674$1,283
15 years$4,479$3,834$3,269$2,778$2,354$1,060
16 years$4,156$3,518$2,964$2,488$2,081$877
17 years$3,871$3,240$2,697$2,235$1,845$728
18 years$3,618$2,993$2,462$2,014$1,640$605
19 years$3,391$2,774$2,254$1,820$1,462$504
20 years$3,188$2,578$2,069$1,649$1,306$420
21 years$3,004$2,401$1,903$1,496$1,169$350
22 years$2,837$2,242$1,754$1,360$1,048$292
23 years$2,685$2,096$1,619$1,239$940$244
24 years$2,546$1,964$1,497$1,130$845$204
25 years$2,418$1,843$1,387$1,032$761$171
26 years$2,300$1,732$1,286$944$685$143
27 years$2,192$1,630$1,194$864$618$119
28 years$2,091$1,536$1,110$791$557$100
29 years$1,997$1,449$1,033$726$503$84
30 years$1,909$1,369$963$666$455$70
31 years$1,828$1,294$897$612$411$59
32 years$1,751$1,224$837$562$372$49
33 years$1,680$1,159$782$517$337$41
34 years$1,613$1,099$730$476$305$35
35 years$1,549$1,042$683$438$276$29
36 years$1,490$989$639$403$250$24
37 years$1,434$940$598$371$227$20
38 years$1,380$893$560$342$205$17
39 years$1,330$849$525$316$186$14
40 years$1,282$808$492$291$169$12
41 years$1,237$769$461$269$153$10
42 years$1,194$732$432$248$139$8
43 years$1,153$698$406$229$126$7
44 years$1,114$665$381$211$115$6
45 years$1,077$634$358$195$104$5
46 years$1,042$605$336$180$94$4
47 years$1,008$577$316$167$86$3
48 years$976$551$297$154$78$3
49 years$945$526$279$142$71$2
50 years$916$503$262$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $938,000, adding $4,244 every year, while hoping to spend $27,207 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: 78/10/12 Blend
57$938,000$938,000$938,000$938,000
58$1,038,054$988,340$973,801$1,116,330
59$1,114,987$1,007,820$977,475$1,187,906
60$1,198,856$1,027,344$980,360$1,262,483
61$1,290,339$1,046,883$982,402$1,343,504
62$1,390,183$1,066,409$983,542$1,431,602
63$1,499,210$1,085,892$983,719$1,527,471
64$1,618,325$1,105,297$982,870$1,631,880
65$1,748,526$1,124,588$980,927$1,745,672
66$1,890,909$1,143,726$977,821$1,869,778
67$2,046,681$1,162,668$973,479$2,005,223
68$2,217,174$1,181,371$967,822$2,153,135
69$2,403,852$1,199,784$960,770$2,314,760
70$2,608,327$1,217,856$952,238$2,491,466
71$2,832,377$1,235,531$942,138$2,684,765
72$3,077,956$1,252,749$930,376$2,896,320
73$3,347,220$1,269,445$916,856$3,127,964
74$3,642,541$1,285,553$901,475$3,381,717
75$3,966,533$1,300,998$884,127$3,659,804
76$4,322,074$1,315,701$864,701$3,964,679
77$4,712,335$1,329,581$843,078$4,299,043
78$5,140,810$1,342,546$819,137$4,665,874
79$5,611,345$1,354,504$792,751$5,068,455
80$6,128,179$1,365,351$763,785$5,510,401
81$6,695,982$1,374,982$732,100$5,995,696
82$7,319,896$1,383,280$697,549$6,528,733
83$8,005,588$1,390,123$659,980$7,114,350
84$8,759,302$1,395,383$619,233$7,757,880
85$9,587,914$1,398,920$575,141$8,465,200
86$10,499,003$1,400,589$527,530$9,242,786
87$11,500,915$1,400,232$476,216$10,097,775
88$12,602,850$1,397,685$421,011$11,038,033
89$13,814,941$1,392,771$361,715$12,072,227
90$15,148,353$1,385,305$298,120$13,209,908
91$16,615,388$1,375,088$230,010$14,461,605
92$18,229,600$1,361,910$157,158$15,838,918
93$20,005,925$1,345,549$79,329$17,354,631
94$21,960,817$1,325,769$0$19,022,835
95$24,112,408$1,302,320$0$20,859,533
96$26,480,677$1,274,936$0$22,892,230
97$29,087,636$1,243,338$0$25,129,651
98$31,957,542$1,207,229$0$27,592,615
99$35,117,122$1,166,294$0$30,304,060
100$38,595,826$1,120,200$0$33,289,268