Can I retire at age 58 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$77,707$77,015$76,339$75,680$75,037$72,898
2 years$38,469$37,752$37,058$36,385$35,732$33,593
3 years$25,391$24,672$23,979$23,312$22,670$20,599
4 years$18,854$18,136$17,451$16,795$16,168$14,181
5 years$14,932$14,219$13,542$12,900$12,291$10,393
6 years$12,319$11,611$10,944$10,316$9,725$7,918
7 years$10,453$9,751$9,095$8,482$7,909$6,192
8 years$9,054$8,358$7,713$7,115$6,562$4,934
9 years$7,966$7,277$6,643$6,060$5,526$3,987
10 years$7,097$6,415$5,792$5,224$4,708$3,255
11 years$6,386$5,711$5,099$4,547$4,049$2,680
12 years$5,794$5,125$4,525$3,988$3,509$2,221
13 years$5,293$4,632$4,043$3,521$3,060$1,850
14 years$4,865$4,210$3,633$3,125$2,682$1,548
15 years$4,493$3,846$3,280$2,787$2,362$1,299
16 years$4,169$3,529$2,974$2,496$2,087$1,094
17 years$3,883$3,250$2,706$2,242$1,851$923
18 years$3,629$3,003$2,470$2,021$1,646$780
19 years$3,402$2,783$2,261$1,826$1,467$661
20 years$3,198$2,586$2,075$1,654$1,310$561
21 years$3,014$2,409$1,909$1,501$1,172$476
22 years$2,847$2,249$1,759$1,365$1,051$405
23 years$2,694$2,103$1,624$1,243$943$344
24 years$2,554$1,971$1,502$1,134$848$293
25 years$2,426$1,849$1,391$1,035$763$250
26 years$2,308$1,738$1,290$947$687$213
27 years$2,199$1,636$1,198$866$620$181
28 years$2,097$1,541$1,114$794$559$155
29 years$2,003$1,454$1,037$728$505$132
30 years$1,915$1,373$966$668$456$113
31 years$1,834$1,298$900$614$412$96
32 years$1,757$1,228$840$564$373$82
33 years$1,685$1,163$784$519$338$70
34 years$1,618$1,102$733$477$306$60
35 years$1,554$1,046$685$439$277$51
36 years$1,495$992$641$404$251$44
37 years$1,438$943$600$373$227$37
38 years$1,385$896$562$344$206$32
39 years$1,334$852$526$317$187$27
40 years$1,286$810$493$292$170$23
41 years$1,241$771$463$270$154$20
42 years$1,198$735$434$249$140$17
43 years$1,157$700$407$230$127$15
44 years$1,118$667$382$212$115$12
45 years$1,081$636$359$196$104$11
46 years$1,045$607$337$181$95$9
47 years$1,012$579$317$167$86$8
48 years$979$553$298$154$78$7
49 years$948$528$280$143$71$6
50 years$919$504$263$132$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $941,000, adding $2,872 every year, while hoping to spend $44,551 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: 70/13/17 Blend
57$941,000$941,000$941,000$941,000
58$1,039,944$990,071$975,486$1,108,370
59$1,098,617$991,183$960,763$1,155,398
60$1,161,781$990,856$944,053$1,201,267
61$1,229,847$988,973$925,244$1,250,341
62$1,303,268$985,408$904,215$1,302,929
63$1,382,538$980,031$880,844$1,359,375
64$1,468,204$972,699$854,999$1,420,058
65$1,560,864$963,264$826,545$1,485,396
66$1,661,177$951,569$795,339$1,555,850
67$1,769,866$937,445$761,232$1,631,929
68$1,887,728$920,716$724,069$1,714,197
69$2,015,639$901,193$683,688$1,803,275
70$2,154,560$878,678$639,917$1,899,848
71$2,305,550$852,958$592,580$2,004,673
72$2,469,776$823,813$541,490$2,118,587
73$2,648,517$791,004$486,455$2,242,511
74$2,843,186$754,283$427,271$2,377,464
75$3,055,333$713,385$363,726$2,524,571
76$3,286,666$668,030$295,601$2,685,072
77$3,539,066$617,923$222,663$2,860,336
78$3,814,600$562,751$144,672$3,051,875
79$4,115,548$502,184$61,377$3,261,357
80$4,444,416$435,874$0$3,490,622
81$4,803,965$363,449$0$3,746,692
82$5,197,233$284,522$0$4,039,024
83$5,627,568$198,681$0$4,358,997
84$6,098,653$105,490$0$4,709,394
85$6,614,547$4,490$0$5,093,282
86$7,179,718$0$0$5,514,042
87$7,799,087$0$0$5,990,392
88$8,478,073$0$0$6,513,349
89$9,222,645$0$0$7,086,873
90$10,039,377$0$0$7,716,034
91$10,935,511$0$0$8,406,419
92$11,919,023$0$0$9,164,179
93$12,998,697$0$0$9,996,090
94$14,184,212$0$0$10,909,616
95$15,486,228$0$0$11,912,981
96$16,916,490$0$0$13,015,243
97$18,487,934$0$0$14,226,379
98$20,214,814$0$0$15,557,385
99$22,112,830$0$0$17,020,371
100$24,199,281$0$0$18,628,679