Can I retire at age 58 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$78,037$77,342$76,664$76,002$75,356$72,366
2 years$38,632$37,913$37,215$36,539$35,884$32,909
3 years$25,499$24,776$24,081$23,411$22,766$19,899
4 years$18,934$18,213$17,525$16,866$16,237$13,500
5 years$14,996$14,279$13,600$12,955$12,343$9,744
6 years$12,371$11,660$10,991$10,360$9,767$7,306
7 years$10,497$9,792$9,133$8,518$7,943$5,620
8 years$9,092$8,394$7,746$7,145$6,589$4,402
9 years$8,000$7,308$6,671$6,086$5,549$3,494
10 years$7,127$6,442$5,816$5,246$4,728$2,802
11 years$6,413$5,735$5,121$4,566$4,066$2,263
12 years$5,818$5,147$4,544$4,005$3,524$1,840
13 years$5,316$4,652$4,060$3,536$3,073$1,503
14 years$4,885$4,228$3,648$3,139$2,694$1,232
15 years$4,513$3,863$3,294$2,799$2,372$1,013
16 years$4,187$3,544$2,986$2,506$2,096$835
17 years$3,900$3,264$2,717$2,252$1,859$690
18 years$3,645$3,016$2,481$2,029$1,653$571
19 years$3,417$2,795$2,271$1,834$1,473$473
20 years$3,212$2,597$2,084$1,661$1,316$392
21 years$3,027$2,419$1,917$1,507$1,177$326
22 years$2,859$2,258$1,767$1,370$1,055$271
23 years$2,705$2,112$1,631$1,248$947$225
24 years$2,565$1,979$1,509$1,138$852$187
25 years$2,436$1,857$1,397$1,040$766$156
26 years$2,318$1,745$1,296$951$690$130
27 years$2,208$1,643$1,203$870$622$108
28 years$2,106$1,548$1,119$797$561$90
29 years$2,012$1,460$1,041$731$507$75
30 years$1,924$1,379$970$671$458$62
31 years$1,841$1,304$904$616$414$52
32 years$1,764$1,233$843$566$375$43
33 years$1,692$1,168$788$521$339$36
34 years$1,625$1,107$736$479$307$30
35 years$1,561$1,050$688$441$278$25
36 years$1,501$997$644$406$252$21
37 years$1,444$947$602$374$228$17
38 years$1,391$900$564$345$207$15
39 years$1,340$855$529$318$188$12
40 years$1,292$814$495$293$170$10
41 years$1,246$775$464$271$154$8
42 years$1,203$738$436$250$140$7
43 years$1,162$703$409$231$127$6
44 years$1,123$670$384$213$115$5
45 years$1,085$639$360$197$105$4
46 years$1,050$610$338$182$95$3
47 years$1,016$582$318$168$86$3
48 years$983$555$299$155$78$2
49 years$952$530$281$143$71$2
50 years$923$507$264$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $945,000, adding $6,194 every year, while hoping to spend $25,775 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: 59/31/10 Blend
57$945,000$945,000$945,000$945,000
58$1,047,779$997,694$983,047$1,106,780
59$1,127,228$1,019,157$988,554$1,168,647
60$1,213,917$1,040,807$993,383$1,232,618
61$1,308,557$1,062,627$997,482$1,301,740
62$1,411,932$1,084,598$1,000,799$1,376,512
63$1,524,902$1,106,696$1,003,279$1,457,480
64$1,648,418$1,128,900$1,004,864$1,545,249
65$1,783,523$1,151,183$1,005,494$1,640,482
66$1,931,368$1,173,517$1,005,104$1,743,913
67$2,093,221$1,195,872$1,003,628$1,856,347
68$2,270,475$1,218,215$1,000,995$1,978,675
69$2,464,667$1,240,511$997,132$2,111,876
70$2,677,489$1,262,722$991,961$2,257,030
71$2,910,803$1,284,806$985,403$2,415,325
72$3,166,662$1,306,718$977,371$2,588,074
73$3,447,326$1,328,412$967,777$2,776,721
74$3,755,284$1,349,835$956,528$2,982,858
75$4,093,278$1,370,932$943,527$3,208,240
76$4,464,329$1,391,644$928,672$3,454,802
77$4,871,763$1,411,907$911,855$3,724,674
78$5,319,246$1,431,654$892,965$4,020,206
79$5,810,814$1,450,810$871,885$4,343,988
80$6,350,917$1,469,299$848,492$4,698,873
81$6,944,453$1,487,038$822,659$5,088,007
82$7,596,820$1,503,936$794,252$5,514,857
83$8,313,966$1,519,899$763,129$5,983,244
84$9,102,443$1,534,826$729,146$6,497,381
85$9,969,468$1,548,608$692,149$7,061,910
86$10,922,995$1,561,132$651,977$7,681,947
87$11,971,786$1,572,272$608,464$8,363,132
88$13,125,495$1,581,901$561,434$9,111,684
89$14,394,759$1,589,877$510,705$9,934,452
90$15,791,297$1,596,054$456,087$10,838,989
91$17,328,023$1,600,274$397,379$11,833,620
92$19,019,164$1,602,370$334,374$12,927,520
93$20,880,398$1,602,165$266,855$14,130,801
94$22,928,997$1,599,471$194,594$15,454,611
95$25,183,996$1,594,086$117,354$16,911,234
96$27,666,367$1,585,799$34,888$18,514,212
97$30,399,218$1,574,385$0$20,278,469
98$33,408,013$1,559,604$0$22,226,125
99$36,720,808$1,541,203$0$24,373,984
100$40,368,523$1,518,914$0$26,738,333