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%16.7%
1 years$78,037$77,342$76,664$76,002$75,356$73,296
2 years$38,632$37,913$37,215$36,539$35,884$33,824
3 years$25,499$24,776$24,081$23,411$22,766$20,770
4 years$18,934$18,213$17,525$16,866$16,237$14,321
5 years$14,996$14,279$13,600$12,955$12,343$10,511
6 years$12,371$11,660$10,991$10,360$9,767$8,022
7 years$10,497$9,792$9,133$8,518$7,943$6,284
8 years$9,092$8,394$7,746$7,145$6,589$5,016
9 years$8,000$7,308$6,671$6,086$5,549$4,060
10 years$7,127$6,442$5,816$5,246$4,728$3,322
11 years$6,413$5,735$5,121$4,566$4,066$2,740
12 years$5,818$5,147$4,544$4,005$3,524$2,275
13 years$5,316$4,652$4,060$3,536$3,073$1,899
14 years$4,885$4,228$3,648$3,139$2,694$1,592
15 years$4,513$3,863$3,294$2,799$2,372$1,339
16 years$4,187$3,544$2,986$2,506$2,096$1,130
17 years$3,900$3,264$2,717$2,252$1,859$956
18 years$3,645$3,016$2,481$2,029$1,653$810
19 years$3,417$2,795$2,271$1,834$1,473$687
20 years$3,212$2,597$2,084$1,661$1,316$584
21 years$3,027$2,419$1,917$1,507$1,177$497
22 years$2,859$2,258$1,767$1,370$1,055$424
23 years$2,705$2,112$1,631$1,248$947$361
24 years$2,565$1,979$1,509$1,138$852$308
25 years$2,436$1,857$1,397$1,040$766$263
26 years$2,318$1,745$1,296$951$690$225
27 years$2,208$1,643$1,203$870$622$192
28 years$2,106$1,548$1,119$797$561$164
29 years$2,012$1,460$1,041$731$507$141
30 years$1,924$1,379$970$671$458$120
31 years$1,841$1,304$904$616$414$103
32 years$1,764$1,233$843$566$375$88
33 years$1,692$1,168$788$521$339$75
34 years$1,625$1,107$736$479$307$65
35 years$1,561$1,050$688$441$278$55
36 years$1,501$997$644$406$252$47
37 years$1,444$947$602$374$228$41
38 years$1,391$900$564$345$207$35
39 years$1,340$855$529$318$188$30
40 years$1,292$814$495$293$170$25
41 years$1,246$775$464$271$154$22
42 years$1,203$738$436$250$140$19
43 years$1,162$703$409$231$127$16
44 years$1,123$670$384$213$115$14
45 years$1,085$639$360$197$105$12
46 years$1,050$610$338$182$95$10
47 years$1,016$582$318$168$86$9
48 years$983$555$299$155$78$7
49 years$952$530$281$143$71$6
50 years$923$507$264$132$65$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $945,000, adding $3,456 every year, while hoping to spend $53,751 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: 47/37/16 Blend
57$945,000$945,000$945,000$945,000
58$1,044,955$994,870$980,222$1,089,198
59$1,094,350$986,428$955,869$1,111,817
60$1,146,981$975,771$928,899$1,130,610
61$1,203,123$962,733$899,166$1,149,844
62$1,263,074$947,140$866,521$1,169,581
63$1,327,163$928,805$830,805$1,189,895
64$1,395,750$907,533$791,853$1,210,867
65$1,469,229$883,114$749,493$1,232,593
66$1,548,033$855,330$703,544$1,255,181
67$1,632,637$823,945$653,817$1,278,756
68$1,723,561$788,714$600,115$1,303,460
69$1,821,378$749,375$542,233$1,329,454
70$1,926,716$705,651$479,955$1,356,919
71$2,040,265$657,252$413,057$1,386,064
72$2,162,781$603,866$341,304$1,417,121
73$2,295,098$545,169$264,451$1,450,356
74$2,438,131$480,815$182,242$1,486,065
75$2,592,884$410,439$94,411$1,524,584
76$2,760,463$333,655$679$1,566,289
77$2,942,083$250,057$0$1,611,605
78$3,139,080$159,214$0$1,677,967
79$3,352,923$60,673$0$1,750,173
80$3,585,228$0$0$1,828,757
81$3,837,773$0$0$1,933,192
82$4,112,513$0$0$2,073,773
83$4,411,600$0$0$2,226,910
84$4,737,402$0$0$2,393,827
85$5,092,525$0$0$2,575,874
86$5,479,834$0$0$2,774,532
87$5,902,487$0$0$2,991,434
88$6,363,958$0$0$3,228,379
89$6,868,071$0$0$3,487,344
90$7,419,035$0$0$3,770,509
91$8,021,485$0$0$4,080,271
92$8,680,526$0$0$4,419,271
93$9,401,775$0$0$4,790,418
94$10,191,420$0$0$5,196,914
95$11,056,275$0$0$5,642,286
96$12,003,844$0$0$6,130,417
97$13,042,389$0$0$6,665,585
98$14,181,011$0$0$7,252,501
99$15,429,734$0$0$7,896,354
100$16,799,599$0$0$8,602,859