Can I retire at age 58 with 939,000?

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 $939,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$77,542$76,851$76,177$75,519$74,877$73,425
2 years$38,387$37,672$36,979$36,307$35,656$34,199
3 years$25,337$24,619$23,928$23,263$22,622$21,205
4 years$18,813$18,098$17,413$16,759$16,134$14,769
5 years$14,900$14,189$13,514$12,873$12,265$10,955
6 years$12,292$11,586$10,921$10,294$9,705$8,452
7 years$10,430$9,730$9,075$8,464$7,892$6,696
8 years$9,034$8,340$7,697$7,100$6,548$5,408
9 years$7,949$7,262$6,629$6,048$5,514$4,431
10 years$7,082$6,401$5,779$5,213$4,698$3,670
11 years$6,372$5,698$5,088$4,537$4,041$3,066
12 years$5,781$5,115$4,516$3,979$3,502$2,579
13 years$5,282$4,622$4,034$3,513$3,053$2,182
14 years$4,854$4,201$3,625$3,119$2,677$1,854
15 years$4,484$3,838$3,273$2,781$2,357$1,582
16 years$4,160$3,521$2,967$2,490$2,083$1,353
17 years$3,875$3,243$2,700$2,238$1,847$1,161
18 years$3,621$2,997$2,465$2,017$1,642$999
19 years$3,395$2,777$2,256$1,822$1,464$861
20 years$3,191$2,581$2,071$1,650$1,307$743
21 years$3,007$2,404$1,905$1,498$1,170$642
22 years$2,840$2,244$1,756$1,362$1,049$555
23 years$2,688$2,099$1,621$1,240$941$481
24 years$2,549$1,966$1,499$1,131$846$417
25 years$2,421$1,845$1,388$1,033$761$362
26 years$2,303$1,734$1,288$945$686$314
27 years$2,194$1,632$1,196$865$618$273
28 years$2,093$1,538$1,112$792$558$237
29 years$1,999$1,451$1,034$726$504$206
30 years$1,911$1,370$964$667$455$179
31 years$1,830$1,295$898$612$412$156
32 years$1,753$1,226$838$563$372$136
33 years$1,682$1,161$783$517$337$118
34 years$1,614$1,100$731$476$305$103
35 years$1,551$1,043$684$438$276$90
36 years$1,491$990$639$404$250$78
37 years$1,435$941$599$372$227$68
38 years$1,382$894$561$343$206$59
39 years$1,331$850$525$316$187$52
40 years$1,284$809$492$292$169$45
41 years$1,238$770$462$269$153$39
42 years$1,195$733$433$248$139$34
43 years$1,155$699$406$229$126$30
44 years$1,116$666$381$212$115$26
45 years$1,079$635$358$195$104$23
46 years$1,043$606$336$180$95$20
47 years$1,009$578$316$167$86$17
48 years$977$552$297$154$78$15
49 years$946$527$279$142$71$13
50 years$917$503$262$132$64$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $939,000, adding $3,775 every year, while hoping to spend $40,888 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: 63/12/25 Blend
57$939,000$939,000$939,000$939,000
58$1,038,672$988,905$974,350$1,097,034
59$1,101,112$993,857$963,487$1,141,921
60$1,168,550$997,681$950,889$1,186,075
61$1,241,454$1,000,279$936,455$1,233,398
62$1,320,336$1,001,546$920,080$1,284,205
63$1,405,760$1,001,371$901,652$1,338,846
64$1,498,345$999,636$881,055$1,397,707
65$1,598,774$996,216$858,168$1,461,212
66$1,707,796$990,978$832,864$1,529,834
67$1,826,236$983,780$805,009$1,604,093
68$1,955,000$974,474$774,465$1,684,563
69$2,095,086$962,899$741,086$1,771,880
70$2,247,593$948,889$704,720$1,866,747
71$2,413,728$932,265$665,209$1,969,937
72$2,594,820$912,838$622,385$2,082,309
73$2,792,333$890,408$576,076$2,204,806
74$3,007,876$864,764$526,101$2,338,475
75$3,243,223$835,681$472,268$2,484,468
76$3,500,325$802,922$414,382$2,644,060
77$3,781,329$766,235$352,234$2,818,657
78$4,088,600$725,357$285,610$3,009,811
79$4,424,743$680,005$214,284$3,219,238
80$4,792,624$629,882$138,019$3,448,829
81$5,195,400$574,676$56,572$3,700,673
82$5,636,549$514,052$0$3,977,077
83$6,119,898$447,662$0$4,288,680
84$6,649,663$375,134$0$4,646,827
85$7,230,490$296,076$0$5,039,584
86$7,867,491$210,075$0$5,470,451
87$8,566,300$116,694$0$5,943,282
88$9,333,122$15,471$0$6,462,327
89$10,174,792$0$0$7,032,268
90$11,098,837$0$0$7,670,690
91$12,113,550$0$0$8,374,069
92$13,228,067$0$0$9,146,703
93$14,452,451$0$0$9,995,578
94$15,797,789$0$0$10,928,390
95$17,276,294$0$0$11,953,616
96$18,901,420$0$0$13,080,597
97$20,687,992$0$0$14,319,622
98$22,652,342$0$0$15,682,030
99$24,812,461$0$0$17,180,310
100$27,188,175$0$0$18,828,224