Can I retire at age 58 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$78,368$77,669$76,988$76,324$75,675$73,252
2 years$38,796$38,073$37,373$36,694$36,036$33,617
3 years$25,607$24,881$24,183$23,510$22,862$20,524
4 years$19,014$18,290$17,599$16,938$16,306$14,066
5 years$15,059$14,340$13,657$13,010$12,395$10,259
6 years$12,423$11,710$11,037$10,404$9,808$7,778
7 years$10,541$9,834$9,172$8,554$7,977$6,052
8 years$9,131$8,429$7,779$7,176$6,617$4,797
9 years$8,034$7,339$6,700$6,112$5,573$3,855
10 years$7,157$6,469$5,841$5,269$4,748$3,130
11 years$6,440$5,759$5,142$4,585$4,084$2,562
12 years$5,843$5,169$4,564$4,022$3,539$2,110
13 years$5,338$4,671$4,077$3,551$3,086$1,747
14 years$4,906$4,246$3,663$3,152$2,705$1,452
15 years$4,532$3,879$3,308$2,811$2,382$1,212
16 years$4,204$3,559$2,999$2,517$2,105$1,013
17 years$3,916$3,278$2,729$2,261$1,866$850
18 years$3,660$3,029$2,491$2,038$1,660$714
19 years$3,431$2,807$2,280$1,842$1,479$600
20 years$3,225$2,608$2,093$1,668$1,321$506
21 years$3,039$2,430$1,925$1,514$1,182$426
22 years$2,871$2,268$1,774$1,376$1,060$360
23 years$2,717$2,121$1,638$1,253$951$304
24 years$2,576$1,987$1,515$1,143$855$257
25 years$2,447$1,865$1,403$1,044$769$217
26 years$2,327$1,753$1,301$955$693$184
27 years$2,217$1,650$1,209$874$625$156
28 years$2,115$1,554$1,123$801$564$132
29 years$2,020$1,466$1,045$734$509$112
30 years$1,932$1,385$974$674$460$94
31 years$1,849$1,309$908$619$416$80
32 years$1,772$1,239$847$569$376$68
33 years$1,700$1,173$791$523$340$57
34 years$1,632$1,112$739$481$308$49
35 years$1,568$1,055$691$443$279$41
36 years$1,507$1,001$646$408$253$35
37 years$1,450$951$605$376$229$30
38 years$1,397$903$566$346$208$25
39 years$1,346$859$531$319$189$21
40 years$1,297$817$497$295$171$18
41 years$1,252$778$466$272$155$15
42 years$1,208$741$438$251$141$13
43 years$1,167$706$411$232$128$11
44 years$1,128$673$385$214$116$9
45 years$1,090$642$362$197$105$8
46 years$1,054$612$340$182$96$7
47 years$1,020$584$319$169$87$6
48 years$988$558$300$156$79$5
49 years$956$533$282$144$72$4
50 years$927$509$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $949,000, adding $6,593 every year, while hoping to spend $34,753 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: 64/15/21 Blend
57$949,000$949,000$949,000$949,000
58$1,052,599$1,002,302$987,592$1,113,889
59$1,122,987$1,014,438$983,700$1,168,085
60$1,199,390$1,026,003$978,512$1,222,757
61$1,282,384$1,036,934$971,949$1,281,683
62$1,372,605$1,047,162$963,927$1,345,281
63$1,470,750$1,056,612$954,357$1,414,012
64$1,577,587$1,065,206$943,149$1,488,387
65$1,693,961$1,072,862$930,205$1,568,967
66$1,820,803$1,079,489$915,424$1,656,373
67$1,959,135$1,084,995$898,701$1,751,288
68$2,110,084$1,089,277$879,925$1,854,467
69$2,274,890$1,092,229$858,980$1,966,743
70$2,454,919$1,093,738$835,745$2,089,034
71$2,651,671$1,093,682$810,094$2,222,354
72$2,866,803$1,091,933$781,893$2,367,821
73$3,102,135$1,088,356$751,004$2,526,668
74$3,359,672$1,082,805$717,283$2,700,255
75$3,641,624$1,075,128$680,577$2,890,083
76$3,950,421$1,065,161$640,728$3,097,808
77$4,288,743$1,052,732$597,571$3,325,254
78$4,659,538$1,037,659$550,932$3,574,436
79$5,066,054$1,019,747$500,632$3,847,576
80$5,511,869$998,793$446,481$4,147,123
81$6,000,922$974,577$388,281$4,475,779
82$6,537,555$946,870$325,827$4,836,525
83$7,126,548$915,428$258,904$5,232,647
84$7,773,166$879,994$187,288$5,667,770
85$8,483,210$840,295$110,743$6,145,891
86$9,263,069$796,041$29,025$6,671,419
87$10,119,783$746,928$0$7,249,215
88$11,061,106$692,633$0$7,897,677
89$12,095,581$632,814$0$8,617,465
90$13,232,619$567,111$0$9,408,652
91$14,482,589$495,142$0$10,278,487
92$15,856,913$416,504$0$11,234,965
93$17,368,177$330,771$0$12,286,894
94$19,030,246$237,494$0$13,443,982
95$20,858,398$136,198$0$14,716,928
96$22,869,463$26,380$0$16,117,524
97$25,081,988$0$0$17,658,765
98$27,516,405$0$0$19,370,241
99$30,195,229$0$0$21,258,411
100$33,143,265$0$0$23,336,415