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%11.2%
1 years$78,368$77,669$76,988$76,324$75,675$75,292
2 years$38,796$38,073$37,373$36,694$36,036$35,650
3 years$25,607$24,881$24,183$23,510$22,862$22,485
4 years$19,014$18,290$17,599$16,938$16,306$15,940
5 years$15,059$14,340$13,657$13,010$12,395$12,042
6 years$12,423$11,710$11,037$10,404$9,808$9,467
7 years$10,541$9,834$9,172$8,554$7,977$7,649
8 years$9,131$8,429$7,779$7,176$6,617$6,303
9 years$8,034$7,339$6,700$6,112$5,573$5,271
10 years$7,157$6,469$5,841$5,269$4,748$4,459
11 years$6,440$5,759$5,142$4,585$4,084$3,807
12 years$5,843$5,169$4,564$4,022$3,539$3,275
13 years$5,338$4,671$4,077$3,551$3,086$2,834
14 years$4,906$4,246$3,663$3,152$2,705$2,465
15 years$4,532$3,879$3,308$2,811$2,382$2,154
16 years$4,204$3,559$2,999$2,517$2,105$1,888
17 years$3,916$3,278$2,729$2,261$1,866$1,661
18 years$3,660$3,029$2,491$2,038$1,660$1,464
19 years$3,431$2,807$2,280$1,842$1,479$1,294
20 years$3,225$2,608$2,093$1,668$1,321$1,146
21 years$3,039$2,430$1,925$1,514$1,182$1,017
22 years$2,871$2,268$1,774$1,376$1,060$903
23 years$2,717$2,121$1,638$1,253$951$804
24 years$2,576$1,987$1,515$1,143$855$716
25 years$2,447$1,865$1,403$1,044$769$638
26 years$2,327$1,753$1,301$955$693$570
27 years$2,217$1,650$1,209$874$625$509
28 years$2,115$1,554$1,123$801$564$455
29 years$2,020$1,466$1,045$734$509$407
30 years$1,932$1,385$974$674$460$364
31 years$1,849$1,309$908$619$416$326
32 years$1,772$1,239$847$569$376$292
33 years$1,700$1,173$791$523$340$262
34 years$1,632$1,112$739$481$308$235
35 years$1,568$1,055$691$443$279$210
36 years$1,507$1,001$646$408$253$189
37 years$1,450$951$605$376$229$169
38 years$1,397$903$566$346$208$152
39 years$1,346$859$531$319$189$136
40 years$1,297$817$497$295$171$122
41 years$1,252$778$466$272$155$110
42 years$1,208$741$438$251$141$99
43 years$1,167$706$411$232$128$89
44 years$1,128$673$385$214$116$80
45 years$1,090$642$362$197$105$72
46 years$1,054$612$340$182$96$64
47 years$1,020$584$319$169$87$58
48 years$988$558$300$156$79$52
49 years$956$533$282$144$72$47
50 years$927$509$265$133$65$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $949,000, adding $4,110 every year, while hoping to spend $45,613 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: 70/15/15 Blend
57$949,000$949,000$949,000$949,000
58$1,050,037$999,740$985,031$1,119,657
59$1,108,609$1,000,196$969,498$1,166,924
60$1,171,627$999,145$951,915$1,212,773
61$1,239,495$996,465$932,167$1,261,776
62$1,312,660$992,028$910,130$1,314,236
63$1,391,609$985,695$885,678$1,370,491
64$1,476,881$977,322$858,675$1,430,911
65$1,569,065$966,753$828,983$1,495,905
66$1,668,810$953,825$796,455$1,565,926
67$1,776,830$938,363$760,937$1,641,473
68$1,893,909$920,185$722,271$1,723,097
69$2,020,909$899,095$680,288$1,811,407
70$2,158,778$874,888$634,814$1,907,075
71$2,308,559$847,343$585,667$2,010,844
72$2,471,400$816,231$532,655$2,123,532
73$2,648,563$781,307$475,579$2,246,043
74$2,841,437$742,311$414,231$2,379,378
75$3,051,550$698,970$348,394$2,524,636
76$3,280,583$650,995$277,840$2,683,036
77$3,530,387$598,078$202,332$2,855,920
78$3,803,000$539,898$121,624$3,044,771
79$4,100,663$476,110$35,455$3,251,224
80$4,425,845$406,354$0$3,477,085
81$4,781,264$330,248$0$3,733,390
82$5,169,911$247,388$0$4,019,939
83$5,595,080$157,348$0$4,333,525
84$6,060,399$59,678$0$4,676,873
85$6,569,860$0$0$5,052,992
86$7,127,862$0$0$5,472,801
87$7,739,249$0$0$5,943,618
88$8,409,354$0$0$6,459,704
89$9,144,051$0$0$7,025,590
90$9,949,812$0$0$7,646,268
91$10,833,762$0$0$8,327,233
92$11,803,750$0$0$9,074,539
93$12,868,423$0$0$9,894,855
94$14,037,304$0$0$10,795,527
95$15,320,885$0$0$11,784,647
96$16,730,722$0$0$12,871,127
97$18,279,546$0$0$14,064,789
98$19,981,382$0$0$15,376,450
99$21,851,681$0$0$16,818,028
100$23,907,466$0$0$18,402,651