Can I retire at age 58 with 938,000?

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 $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%12%
1 years$77,459$76,769$76,096$75,439$74,797$74,171
2 years$38,346$37,632$36,940$36,269$35,618$34,986
3 years$25,310$24,593$23,903$23,238$22,597$21,980
4 years$18,793$18,078$17,395$16,741$16,117$15,519
5 years$14,884$14,174$13,499$12,859$12,252$11,675
6 years$12,279$11,574$10,909$10,283$9,694$9,140
7 years$10,419$9,720$9,066$8,455$7,884$7,352
8 years$9,025$8,332$7,688$7,092$6,541$6,030
9 years$7,941$7,254$6,622$6,041$5,508$5,020
10 years$7,074$6,394$5,773$5,208$4,693$4,227
11 years$6,365$5,692$5,083$4,532$4,036$3,591
12 years$5,775$5,109$4,511$3,975$3,498$3,073
13 years$5,276$4,617$4,030$3,510$3,050$2,646
14 years$4,849$4,197$3,621$3,115$2,674$2,290
15 years$4,479$3,834$3,269$2,778$2,354$1,990
16 years$4,156$3,518$2,964$2,488$2,081$1,735
17 years$3,871$3,240$2,697$2,235$1,845$1,517
18 years$3,618$2,993$2,462$2,014$1,640$1,330
19 years$3,391$2,774$2,254$1,820$1,462$1,169
20 years$3,188$2,578$2,069$1,649$1,306$1,029
21 years$3,004$2,401$1,903$1,496$1,169$908
22 years$2,837$2,242$1,754$1,360$1,048$802
23 years$2,685$2,096$1,619$1,239$940$709
24 years$2,546$1,964$1,497$1,130$845$628
25 years$2,418$1,843$1,387$1,032$761$556
26 years$2,300$1,732$1,286$944$685$493
27 years$2,192$1,630$1,194$864$618$438
28 years$2,091$1,536$1,110$791$557$389
29 years$1,997$1,449$1,033$726$503$346
30 years$1,909$1,369$963$666$455$307
31 years$1,828$1,294$897$612$411$273
32 years$1,751$1,224$837$562$372$243
33 years$1,680$1,159$782$517$337$217
34 years$1,613$1,099$730$476$305$193
35 years$1,549$1,042$683$438$276$172
36 years$1,490$989$639$403$250$153
37 years$1,434$940$598$371$227$136
38 years$1,380$893$560$342$205$122
39 years$1,330$849$525$316$186$108
40 years$1,282$808$492$291$169$97
41 years$1,237$769$461$269$153$86
42 years$1,194$732$432$248$139$77
43 years$1,153$698$406$229$126$69
44 years$1,114$665$381$211$115$61
45 years$1,077$634$358$195$104$55
46 years$1,042$605$336$180$94$49
47 years$1,008$577$316$167$86$43
48 years$976$551$297$154$78$39
49 years$945$526$279$142$71$35
50 years$916$503$262$131$64$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $938,000, adding $3,490 every year, while hoping to spend $58,211 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: 82/10/8 Blend
57$938,000$938,000$938,000$938,000
58$1,037,276$987,562$973,023$1,121,040
59$1,081,142$974,016$943,683$1,162,811
60$1,127,531$957,856$911,409$1,200,545
61$1,176,640$938,892$876,042$1,240,191
62$1,228,682$916,922$837,414$1,281,910
63$1,283,891$891,735$795,351$1,325,874
64$1,342,523$863,104$749,670$1,372,277
65$1,404,857$830,793$700,181$1,421,331
66$1,471,199$794,549$646,683$1,473,270
67$1,541,884$754,104$588,970$1,528,350
68$1,617,278$709,177$526,822$1,586,856
69$1,697,783$659,470$460,014$1,649,101
70$1,783,840$604,666$388,307$1,715,430
71$1,875,930$544,433$311,454$1,786,224
72$1,974,582$478,418$229,195$1,861,903
73$2,080,377$406,249$141,261$1,942,929
74$2,193,952$327,531$47,369$2,029,814
75$2,316,005$241,850$0$2,123,121
76$2,447,302$148,765$0$2,227,982
77$2,588,686$47,814$0$2,345,181
78$2,741,082$0$0$2,471,454
79$2,905,506$0$0$2,614,434
80$3,083,072$0$0$2,774,540
81$3,275,009$0$0$2,947,621
82$3,482,663$0$0$3,134,894
83$3,707,517$0$0$3,337,697
84$3,951,198$0$0$3,557,502
85$4,215,499$0$0$3,795,926
86$4,502,389$0$0$4,054,750
87$4,814,034$0$0$4,335,931
88$5,152,817$0$0$4,641,621
89$5,521,361$0$0$4,974,190
90$5,922,549$0$0$5,336,243
91$6,359,556$0$0$5,730,648
92$6,835,874$0$0$6,160,561
93$7,355,347$0$0$6,629,454
94$7,922,206$0$0$7,141,151
95$8,541,108$0$0$7,699,859
96$9,217,180$0$0$8,310,211
97$9,956,064$0$0$8,977,304
98$10,763,975$0$0$9,706,754
99$11,647,753$0$0$10,504,741
100$12,614,931$0$0$11,378,071