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%14.5%
1 years$78,368$77,669$76,988$76,324$75,675$74,268
2 years$38,796$38,073$37,373$36,694$36,036$34,624
3 years$25,607$24,881$24,183$23,510$22,862$21,489
4 years$19,014$18,290$17,599$16,938$16,306$14,982
5 years$15,059$14,340$13,657$13,010$12,395$11,125
6 years$12,423$11,710$11,037$10,404$9,808$8,592
7 years$10,541$9,834$9,172$8,554$7,977$6,815
8 years$9,131$8,429$7,779$7,176$6,617$5,511
9 years$8,034$7,339$6,700$6,112$5,573$4,520
10 years$7,157$6,469$5,841$5,269$4,748$3,748
11 years$6,440$5,759$5,142$4,585$4,084$3,135
12 years$5,843$5,169$4,564$4,022$3,539$2,641
13 years$5,338$4,671$4,077$3,551$3,086$2,237
14 years$4,906$4,246$3,663$3,152$2,705$1,904
15 years$4,532$3,879$3,308$2,811$2,382$1,626
16 years$4,204$3,559$2,999$2,517$2,105$1,394
17 years$3,916$3,278$2,729$2,261$1,866$1,197
18 years$3,660$3,029$2,491$2,038$1,660$1,031
19 years$3,431$2,807$2,280$1,842$1,479$890
20 years$3,225$2,608$2,093$1,668$1,321$769
21 years$3,039$2,430$1,925$1,514$1,182$666
22 years$2,871$2,268$1,774$1,376$1,060$577
23 years$2,717$2,121$1,638$1,253$951$500
24 years$2,576$1,987$1,515$1,143$855$435
25 years$2,447$1,865$1,403$1,044$769$378
26 years$2,327$1,753$1,301$955$693$328
27 years$2,217$1,650$1,209$874$625$286
28 years$2,115$1,554$1,123$801$564$249
29 years$2,020$1,466$1,045$734$509$216
30 years$1,932$1,385$974$674$460$189
31 years$1,849$1,309$908$619$416$164
32 years$1,772$1,239$847$569$376$143
33 years$1,700$1,173$791$523$340$125
34 years$1,632$1,112$739$481$308$109
35 years$1,568$1,055$691$443$279$95
36 years$1,507$1,001$646$408$253$83
37 years$1,450$951$605$376$229$72
38 years$1,397$903$566$346$208$63
39 years$1,346$859$531$319$189$55
40 years$1,297$817$497$295$171$48
41 years$1,252$778$466$272$155$42
42 years$1,208$741$438$251$141$37
43 years$1,167$706$411$232$128$32
44 years$1,128$673$385$214$116$28
45 years$1,090$642$362$197$105$24
46 years$1,054$612$340$182$96$21
47 years$1,020$584$319$169$87$19
48 years$988$558$300$156$79$16
49 years$956$533$282$144$72$14
50 years$927$509$265$133$65$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $949,000, adding $3,666 every year, while hoping to spend $21,696 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: 64/26/10 Blend
57$949,000$949,000$949,000$949,000
58$1,049,579$999,282$984,573$1,114,240
59$1,133,552$1,025,163$994,472$1,183,732
60$1,225,363$1,051,584$1,003,975$1,256,732
61$1,325,788$1,078,550$1,013,047$1,335,913
62$1,435,684$1,106,064$1,021,648$1,421,876
63$1,555,990$1,134,128$1,029,740$1,515,281
64$1,687,744$1,162,744$1,037,280$1,616,855
65$1,832,089$1,191,912$1,044,223$1,727,401
66$1,990,280$1,221,635$1,050,523$1,847,799
67$2,163,704$1,251,910$1,056,131$1,979,021
68$2,353,884$1,282,736$1,060,994$2,122,138
69$2,562,502$1,314,112$1,065,059$2,278,328
70$2,791,408$1,346,034$1,068,269$2,448,889
71$3,042,639$1,378,497$1,070,563$2,635,252
72$3,318,440$1,411,495$1,071,879$2,838,991
73$3,621,285$1,445,023$1,072,152$3,061,842
74$3,953,898$1,479,071$1,071,310$3,305,718
75$4,319,279$1,513,629$1,069,283$3,572,724
76$4,720,735$1,548,686$1,065,993$3,865,182
77$5,161,908$1,584,229$1,061,361$4,185,647
78$5,646,809$1,620,243$1,055,303$4,536,938
79$6,179,859$1,656,710$1,047,732$4,922,158
80$6,765,928$1,693,613$1,038,554$5,344,727
81$7,410,382$1,730,929$1,027,675$5,808,414
82$8,119,131$1,768,635$1,014,992$6,317,371
83$8,898,689$1,806,704$1,000,401$6,876,173
84$9,756,231$1,845,108$983,790$7,489,863
85$10,699,663$1,883,815$965,044$8,163,994
86$11,737,697$1,922,790$944,041$8,904,691
87$12,879,930$1,961,995$920,654$9,718,697
88$14,136,938$2,001,388$894,751$10,613,448
89$15,520,373$2,040,924$866,193$11,597,134
90$17,043,075$2,080,553$834,835$12,678,783
91$18,719,191$2,120,222$800,524$13,868,342
92$20,564,309$2,159,873$763,102$15,176,774
93$22,595,606$2,199,444$722,403$16,616,157
94$24,832,007$2,238,866$678,253$18,199,805
95$27,294,368$2,278,067$630,471$19,942,388
96$30,005,669$2,316,968$578,867$21,860,072
97$32,991,233$2,355,485$523,244$23,970,673
98$36,278,960$2,393,525$463,394$26,293,823
99$39,899,599$2,430,992$399,103$28,851,160
100$43,887,028$2,467,781$330,143$31,666,525