Can I retire at age 58 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$78,120$77,424$76,745$76,082$75,435$74,064
2 years$38,673$37,953$37,255$36,578$35,922$34,545
3 years$25,526$24,803$24,106$23,436$22,790$21,451
4 years$18,954$18,233$17,543$16,884$16,254$14,963
5 years$15,011$14,295$13,614$12,969$12,356$11,116
6 years$12,384$11,673$11,002$10,371$9,777$8,590
7 years$10,508$9,803$9,143$8,527$7,951$6,818
8 years$9,102$8,403$7,754$7,153$6,596$5,516
9 years$8,008$7,316$6,679$6,093$5,555$4,527
10 years$7,134$6,449$5,822$5,252$4,733$3,756
11 years$6,420$5,741$5,126$4,571$4,071$3,144
12 years$5,825$5,153$4,549$4,009$3,528$2,650
13 years$5,321$4,657$4,064$3,539$3,076$2,246
14 years$4,890$4,233$3,652$3,142$2,697$1,913
15 years$4,517$3,867$3,297$2,802$2,374$1,635
16 years$4,191$3,548$2,989$2,509$2,098$1,402
17 years$3,904$3,267$2,720$2,254$1,861$1,206
18 years$3,648$3,019$2,483$2,032$1,654$1,039
19 years$3,420$2,798$2,273$1,836$1,475$897
20 years$3,215$2,600$2,086$1,663$1,317$776
21 years$3,030$2,422$1,919$1,509$1,179$672
22 years$2,862$2,261$1,769$1,372$1,056$583
23 years$2,708$2,114$1,633$1,249$948$506
24 years$2,568$1,981$1,510$1,140$852$440
25 years$2,439$1,859$1,399$1,041$767$382
26 years$2,320$1,747$1,297$952$691$333
27 years$2,210$1,644$1,205$871$623$290
28 years$2,108$1,549$1,120$798$562$252
29 years$2,014$1,462$1,042$732$508$220
30 years$1,926$1,380$971$672$459$192
31 years$1,843$1,305$905$617$415$167
32 years$1,766$1,235$844$567$375$146
33 years$1,694$1,169$788$521$339$127
34 years$1,626$1,108$737$480$307$111
35 years$1,563$1,051$689$442$278$97
36 years$1,502$998$644$407$252$85
37 years$1,446$948$603$375$229$74
38 years$1,392$901$565$345$207$65
39 years$1,341$856$529$318$188$56
40 years$1,293$815$496$294$170$49
41 years$1,248$776$465$271$155$43
42 years$1,204$739$436$250$140$38
43 years$1,163$704$409$231$127$33
44 years$1,124$671$384$213$116$29
45 years$1,087$640$361$197$105$25
46 years$1,051$610$339$182$95$22
47 years$1,017$582$318$168$87$19
48 years$984$556$299$155$79$17
49 years$953$531$281$143$71$15
50 years$924$507$264$133$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $946,000, adding $3,455 every year, while hoping to spend $39,154 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: 82/12/6 Blend
57$946,000$946,000$946,000$946,000
58$1,046,056$995,918$981,255$1,131,145
59$1,111,094$1,003,058$972,467$1,194,410
60$1,181,454$1,009,236$962,073$1,258,243
61$1,257,637$1,014,363$949,977$1,327,104
62$1,340,194$1,018,346$936,080$1,401,473
63$1,429,732$1,021,083$920,276$1,481,880
64$1,526,917$1,022,468$902,458$1,568,905
65$1,632,482$1,022,389$882,511$1,663,192
66$1,747,235$1,020,726$860,314$1,765,446
67$1,872,062$1,017,350$835,744$1,876,445
68$2,007,939$1,012,127$808,668$1,997,047
69$2,155,941$1,004,914$778,951$2,128,196
70$2,317,250$995,558$746,449$2,270,932
71$2,493,167$983,897$711,012$2,426,401
72$2,685,123$969,761$672,484$2,595,866
73$2,894,695$952,969$630,701$2,780,718
74$3,123,617$933,327$585,493$2,982,491
75$3,373,800$910,634$536,681$3,202,874
76$3,647,346$884,674$484,078$3,443,729
77$3,946,570$855,218$427,490$3,707,106
78$4,274,022$822,025$366,712$3,995,268
79$4,632,509$784,841$301,533$4,310,704
80$5,025,121$743,394$231,731$4,656,162
81$5,455,262$697,399$157,073$5,034,666
82$5,926,681$646,554$77,317$5,449,551
83$6,443,508$590,540$0$5,904,492
84$7,010,288$529,019$0$6,404,040
85$7,632,030$461,634$0$6,957,472
86$8,314,251$388,008$0$7,564,773
87$9,063,026$307,742$0$8,231,382
88$9,885,050$220,416$0$8,963,295
89$10,787,694$125,586$0$9,767,119
90$11,779,080$22,781$0$10,650,132
91$12,868,156$0$0$11,620,358
92$14,064,777$0$0$12,698,324
93$15,379,801$0$0$13,886,280
94$16,825,191$0$0$15,192,030
95$18,414,126$0$0$16,627,480
96$20,161,123$0$0$18,205,751
97$22,082,181$0$0$19,941,297
98$24,194,922$0$0$21,850,043
99$26,518,763$0$0$23,949,536
100$29,075,100$0$0$26,259,106