Can I retire at age 58 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$78,285$77,588$76,907$76,243$75,595$75,087
2 years$38,755$38,033$37,334$36,655$35,998$35,485
3 years$25,580$24,855$24,157$23,485$22,838$22,338
4 years$18,994$18,271$17,580$16,920$16,288$15,803
5 years$15,043$14,325$13,643$12,996$12,382$11,914
6 years$12,410$11,697$11,026$10,393$9,798$9,347
7 years$10,530$9,823$9,162$8,545$7,968$7,535
8 years$9,121$8,420$7,770$7,168$6,610$6,195
9 years$8,025$7,331$6,693$6,106$5,567$5,169
10 years$7,149$6,462$5,835$5,263$4,743$4,362
11 years$6,433$5,753$5,137$4,580$4,079$3,715
12 years$5,837$5,164$4,559$4,018$3,535$3,188
13 years$5,333$4,666$4,073$3,547$3,083$2,752
14 years$4,901$4,242$3,660$3,149$2,702$2,387
15 years$4,527$3,875$3,304$2,808$2,379$2,080
16 years$4,200$3,555$2,996$2,514$2,103$1,819
17 years$3,912$3,274$2,726$2,259$1,864$1,595
18 years$3,656$3,025$2,488$2,036$1,658$1,403
19 years$3,427$2,804$2,278$1,840$1,478$1,236
20 years$3,222$2,606$2,091$1,666$1,320$1,091
21 years$3,036$2,427$1,923$1,512$1,181$965
22 years$2,868$2,265$1,772$1,375$1,059$855
23 years$2,714$2,119$1,636$1,252$950$759
24 years$2,573$1,985$1,513$1,142$854$674
25 years$2,444$1,863$1,402$1,043$769$599
26 years$2,325$1,751$1,300$954$692$533
27 years$2,215$1,648$1,207$873$624$474
28 years$2,113$1,553$1,122$800$563$423
29 years$2,018$1,465$1,044$733$509$377
30 years$1,930$1,383$973$673$460$336
31 years$1,847$1,308$907$618$415$300
32 years$1,770$1,237$846$568$376$268
33 years$1,698$1,172$790$522$340$239
34 years$1,630$1,111$738$481$308$214
35 years$1,566$1,053$690$442$279$191
36 years$1,506$1,000$646$407$253$171
37 years$1,449$950$604$375$229$153
38 years$1,395$902$566$346$208$137
39 years$1,344$858$530$319$188$122
40 years$1,296$816$497$294$171$109
41 years$1,250$777$466$272$155$98
42 years$1,207$740$437$251$141$88
43 years$1,166$705$410$231$128$78
44 years$1,126$672$385$214$116$70
45 years$1,089$641$362$197$105$63
46 years$1,053$612$340$182$95$56
47 years$1,019$584$319$168$87$50
48 years$987$557$300$156$79$45
49 years$955$532$282$144$72$40
50 years$926$508$265$133$65$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $948,000, adding $4,656 every year, while hoping to spend $26,577 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: 77/11/12 Blend
57$948,000$948,000$948,000$948,000
58$1,049,499$999,255$984,561$1,127,528
59$1,128,270$1,019,940$989,266$1,200,249
60$1,214,185$1,040,749$993,238$1,276,123
61$1,307,944$1,061,658$996,424$1,358,571
62$1,410,320$1,082,645$998,769$1,448,236
63$1,522,160$1,103,682$1,000,215$1,545,829
64$1,644,399$1,124,741$1,000,701$1,652,133
65$1,778,066$1,145,792$1,000,164$1,768,009
66$1,924,295$1,166,802$998,535$1,894,407
67$2,084,332$1,187,734$995,745$2,032,372
68$2,259,552$1,208,551$991,720$2,183,056
69$2,451,466$1,229,210$986,383$2,347,728
70$2,661,741$1,249,667$979,652$2,527,787
71$2,892,211$1,269,873$971,443$2,724,774
72$3,144,897$1,289,777$961,666$2,940,386
73$3,422,023$1,309,323$950,229$3,176,493
74$3,726,042$1,328,451$937,034$3,435,157
75$4,059,652$1,347,099$921,978$3,718,647
76$4,425,827$1,365,198$904,955$4,029,467
77$4,827,842$1,382,674$885,852$4,370,374
78$5,269,307$1,399,449$864,553$4,744,405
79$5,754,195$1,415,441$840,934$5,154,910
80$6,286,886$1,430,561$814,868$5,605,577
81$6,872,202$1,444,712$786,221$6,100,471
82$7,515,459$1,457,795$754,851$6,644,075
83$8,222,510$1,469,701$720,613$7,241,323
84$8,999,805$1,480,315$683,352$7,897,658
85$9,854,450$1,489,516$642,909$8,619,074
86$10,794,274$1,497,172$599,117$9,412,180
87$11,827,901$1,503,145$551,799$10,284,256
88$12,964,837$1,507,289$500,773$11,243,328
89$14,215,550$1,509,445$445,849$12,298,238
90$15,591,577$1,509,449$386,826$13,458,731
91$17,105,629$1,507,124$323,496$14,735,547
92$18,771,711$1,502,281$255,641$16,140,522
93$20,605,255$1,494,722$183,035$17,686,698
94$22,623,264$1,484,236$105,439$19,388,451
95$24,844,472$1,470,599$22,607$21,261,620
96$27,289,523$1,453,573$0$23,323,664
97$29,981,163$1,432,907$0$25,602,245
98$32,944,455$1,408,333$0$28,113,777
99$36,207,018$1,379,570$0$30,878,765
100$39,799,282$1,346,317$0$33,922,997