Can I retire at age 58 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$77,789$77,097$76,421$75,761$75,116$72,193
2 years$38,510$37,792$37,097$36,423$35,770$32,860
3 years$25,418$24,698$24,004$23,337$22,694$19,889
4 years$18,874$18,155$17,469$16,813$16,185$13,507
5 years$14,948$14,234$13,557$12,914$12,304$9,759
6 years$12,332$11,623$10,956$10,327$9,736$7,325
7 years$10,464$9,761$9,104$8,491$7,918$5,642
8 years$9,063$8,367$7,721$7,123$6,568$4,424
9 years$7,975$7,285$6,650$6,067$5,532$3,516
10 years$7,104$6,421$5,798$5,230$4,713$2,823
11 years$6,393$5,717$5,104$4,551$4,054$2,283
12 years$5,800$5,131$4,530$3,992$3,513$1,859
13 years$5,299$4,637$4,047$3,525$3,063$1,520
14 years$4,870$4,215$3,636$3,129$2,685$1,248
15 years$4,498$3,850$3,283$2,790$2,364$1,028
16 years$4,173$3,533$2,977$2,498$2,089$848
17 years$3,887$3,253$2,709$2,245$1,853$702
18 years$3,633$3,006$2,473$2,023$1,647$582
19 years$3,406$2,786$2,264$1,828$1,468$483
20 years$3,202$2,589$2,077$1,656$1,312$401
21 years$3,017$2,412$1,911$1,503$1,174$333
22 years$2,850$2,251$1,761$1,366$1,052$278
23 years$2,697$2,105$1,626$1,244$944$231
24 years$2,557$1,973$1,504$1,135$849$193
25 years$2,429$1,851$1,393$1,036$764$161
26 years$2,310$1,740$1,292$948$688$134
27 years$2,201$1,637$1,200$867$620$112
28 years$2,100$1,543$1,115$795$560$93
29 years$2,005$1,456$1,038$729$505$78
30 years$1,918$1,375$967$669$457$65
31 years$1,836$1,299$901$614$413$54
32 years$1,759$1,230$841$564$373$45
33 years$1,687$1,164$785$519$338$38
34 years$1,619$1,104$734$478$306$32
35 years$1,556$1,047$686$440$277$26
36 years$1,496$994$642$405$251$22
37 years$1,440$944$600$373$228$18
38 years$1,386$897$562$344$206$15
39 years$1,336$853$527$317$187$13
40 years$1,288$811$494$292$170$11
41 years$1,242$772$463$270$154$9
42 years$1,199$736$434$249$140$7
43 years$1,158$701$408$230$127$6
44 years$1,119$668$383$212$115$5
45 years$1,082$637$359$196$104$4
46 years$1,047$608$337$181$95$4
47 years$1,013$580$317$167$86$3
48 years$980$554$298$155$78$3
49 years$949$529$280$143$71$2
50 years$920$505$263$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $942,000, adding $4,589 every year, while hoping to spend $34,817 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: 58/26/16 Blend
57$942,000$942,000$942,000$942,000
58$1,042,818$992,892$978,291$1,098,733
59$1,112,140$1,004,498$974,018$1,148,728
60$1,187,366$1,015,507$968,436$1,198,979
61$1,269,062$1,025,851$961,463$1,252,957
62$1,357,849$1,035,460$953,015$1,311,026
63$1,454,412$1,044,260$943,003$1,373,588
64$1,559,503$1,052,170$931,334$1,441,088
65$1,673,951$1,059,105$917,913$1,514,016
66$1,798,666$1,064,974$902,635$1,592,912
67$1,934,653$1,069,680$885,397$1,678,375
68$2,083,015$1,073,122$866,085$1,771,063
69$2,244,968$1,075,190$844,584$1,871,704
70$2,421,848$1,075,768$820,771$1,981,102
71$2,615,129$1,074,732$794,519$2,100,142
72$2,826,431$1,071,953$765,694$2,229,805
73$3,057,540$1,067,292$734,158$2,371,169
74$3,310,420$1,060,601$699,763$2,525,427
75$3,587,236$1,051,723$662,359$2,693,894
76$3,890,371$1,040,494$621,784$2,878,021
77$4,222,448$1,026,738$577,874$3,079,411
78$4,586,358$1,010,268$530,453$3,299,832
79$4,985,283$990,888$479,339$3,541,234
80$5,422,729$968,388$424,344$3,805,769
81$5,902,556$942,548$365,268$4,095,811
82$6,429,016$913,133$301,905$4,413,982
83$7,006,795$879,895$234,037$4,763,171
84$7,641,050$842,572$161,439$5,146,567
85$8,337,465$800,886$83,876$5,567,688
86$9,102,301$754,544$1,100$6,030,416
87$9,942,455$703,236$0$6,539,030
88$10,865,523$646,632$0$7,113,148
89$11,879,876$584,387$0$7,744,252
90$12,994,734$516,132$0$8,437,948
91$14,220,256$441,481$0$9,200,623
92$15,567,632$360,024$0$10,039,319
93$17,049,194$271,329$0$10,961,797
94$18,678,525$174,938$0$11,976,615
95$20,470,593$70,368$0$13,093,209
96$22,441,888$0$0$14,321,978
97$24,610,579$0$0$15,686,659
98$26,996,684$0$0$17,210,394
99$29,622,261$0$0$18,887,146
100$32,511,612$0$0$20,732,448