Can I retire at age 58 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$77,872$77,178$76,502$75,841$75,196$74,504
2 years$38,551$37,833$37,137$36,462$35,808$35,110
3 years$25,445$24,724$24,030$23,362$22,718$22,037
4 years$18,894$18,175$17,488$16,831$16,203$15,543
5 years$14,964$14,249$13,571$12,928$12,317$11,681
6 years$12,345$11,636$10,967$10,338$9,746$9,135
7 years$10,475$9,772$9,114$8,500$7,926$7,339
8 years$9,073$8,376$7,729$7,130$6,575$6,013
9 years$7,983$7,293$6,657$6,073$5,537$5,000
10 years$7,112$6,428$5,804$5,235$4,718$4,205
11 years$6,399$5,723$5,110$4,556$4,058$3,568
12 years$5,806$5,136$4,535$3,996$3,516$3,050
13 years$5,305$4,642$4,052$3,528$3,066$2,623
14 years$4,875$4,219$3,640$3,132$2,688$2,266
15 years$4,503$3,854$3,287$2,793$2,367$1,967
16 years$4,178$3,536$2,980$2,501$2,092$1,712
17 years$3,891$3,257$2,712$2,247$1,855$1,496
18 years$3,637$3,009$2,475$2,025$1,649$1,310
19 years$3,409$2,789$2,266$1,830$1,470$1,149
20 years$3,205$2,592$2,080$1,657$1,313$1,010
21 years$3,020$2,414$1,913$1,504$1,175$890
22 years$2,853$2,254$1,763$1,368$1,053$785
23 years$2,700$2,108$1,628$1,245$945$693
24 years$2,560$1,975$1,505$1,136$850$612
25 years$2,431$1,853$1,394$1,037$765$542
26 years$2,313$1,742$1,293$949$689$480
27 years$2,203$1,639$1,201$868$621$425
28 years$2,102$1,545$1,116$795$560$377
29 years$2,007$1,457$1,039$729$506$335
30 years$1,920$1,376$968$669$457$297
31 years$1,837$1,301$902$615$413$264
32 years$1,761$1,231$842$565$374$234
33 years$1,689$1,166$786$520$338$208
34 years$1,621$1,105$734$478$306$185
35 years$1,558$1,048$687$440$277$165
36 years$1,498$995$642$405$251$146
37 years$1,441$945$601$373$228$130
38 years$1,388$898$563$344$207$116
39 years$1,337$854$527$317$187$103
40 years$1,289$812$494$293$170$92
41 years$1,244$773$464$270$154$82
42 years$1,201$736$435$249$140$73
43 years$1,160$702$408$230$127$65
44 years$1,120$669$383$212$115$58
45 years$1,083$638$360$196$105$51
46 years$1,048$608$338$181$95$46
47 years$1,014$581$317$167$86$41
48 years$981$554$298$155$78$36
49 years$950$529$280$143$71$32
50 years$921$506$263$132$65$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $943,000, adding $3,510 every year, while hoping to spend $24,428 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: 37/41/22 Blend
57$943,000$943,000$943,000$943,000
58$1,042,807$992,828$978,211$1,074,379
59$1,123,182$1,015,485$984,990$1,120,368
60$1,210,936$1,038,434$991,177$1,167,479
61$1,306,797$1,061,663$996,727$1,217,873
62$1,411,565$1,085,158$1,001,592$1,271,859
63$1,526,121$1,108,907$1,005,721$1,329,780
64$1,651,434$1,132,893$1,009,062$1,392,011
65$1,788,573$1,157,097$1,011,558$1,458,968
66$1,938,714$1,181,502$1,013,152$1,531,110
67$2,103,153$1,206,085$1,013,783$1,608,940
68$2,283,315$1,230,824$1,013,385$1,693,017
69$2,480,771$1,255,692$1,011,891$1,783,954
70$2,697,251$1,280,662$1,009,231$1,882,430
71$2,934,661$1,305,705$1,005,330$1,989,190
72$3,195,098$1,330,786$1,000,111$2,105,058
73$3,480,875$1,355,872$993,491$2,230,945
74$3,794,537$1,380,922$985,386$2,367,851
75$4,138,889$1,405,897$975,706$2,516,882
76$4,517,020$1,430,750$964,356$2,679,258
77$4,932,333$1,455,434$951,240$2,856,322
78$5,388,578$1,479,897$936,253$3,049,558
79$5,889,884$1,504,083$919,288$3,260,601
80$6,440,800$1,527,931$900,232$3,491,256
81$7,046,339$1,551,377$878,968$3,743,510
82$7,712,024$1,574,353$855,371$4,019,558
83$8,443,938$1,596,784$829,314$4,321,820
84$9,248,784$1,618,590$800,660$4,652,964
85$10,133,946$1,639,687$769,268$5,015,932
86$11,107,560$1,659,984$734,991$5,413,969
87$12,178,593$1,679,384$697,674$5,850,654
88$13,356,919$1,697,784$657,156$6,329,933
89$14,653,422$1,715,072$613,268$6,856,157
90$16,080,092$1,731,132$565,833$7,434,125
91$17,650,142$1,745,838$514,669$8,069,128
92$19,378,127$1,759,055$459,582$8,767,001
93$21,280,089$1,770,642$400,370$9,534,175
94$23,373,701$1,780,446$336,826$10,377,746
95$25,678,437$1,788,306$268,728$11,305,535
96$28,215,756$1,794,051$195,848$12,326,165
97$31,009,302$1,797,499$117,948$13,449,144
98$34,085,129$1,798,455$34,778$14,684,955
99$37,471,946$1,796,713$0$16,045,158
100$41,201,387$1,792,055$0$17,555,166