Can I retire at age 58 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$78,450$77,751$77,070$76,404$75,754$72,749
2 years$38,837$38,113$37,412$36,733$36,073$33,083
3 years$25,634$24,908$24,208$23,535$22,887$20,005
4 years$19,034$18,310$17,617$16,956$16,323$13,572
5 years$15,075$14,355$13,672$13,024$12,408$9,795
6 years$12,436$11,722$11,049$10,415$9,818$7,345
7 years$10,552$9,844$9,182$8,563$7,985$5,650
8 years$9,140$8,438$7,787$7,183$6,624$4,426
9 years$8,042$7,347$6,707$6,118$5,579$3,513
10 years$7,165$6,476$5,847$5,274$4,753$2,816
11 years$6,447$5,765$5,148$4,590$4,088$2,275
12 years$5,849$5,175$4,568$4,026$3,543$1,850
13 years$5,344$4,676$4,082$3,554$3,089$1,511
14 years$4,911$4,251$3,667$3,155$2,708$1,238
15 years$4,536$3,883$3,311$2,814$2,384$1,018
16 years$4,209$3,563$3,002$2,520$2,107$840
17 years$3,920$3,281$2,732$2,264$1,868$694
18 years$3,664$3,032$2,494$2,040$1,661$574
19 years$3,435$2,810$2,283$1,843$1,481$475
20 years$3,229$2,611$2,095$1,670$1,323$394
21 years$3,043$2,432$1,927$1,515$1,184$327
22 years$2,874$2,270$1,776$1,378$1,061$272
23 years$2,720$2,123$1,640$1,255$952$226
24 years$2,579$1,989$1,517$1,144$856$188
25 years$2,449$1,867$1,405$1,045$770$157
26 years$2,330$1,755$1,303$956$694$130
27 years$2,220$1,651$1,210$875$626$109
28 years$2,117$1,556$1,125$801$564$90
29 years$2,022$1,468$1,047$735$510$75
30 years$1,934$1,386$975$674$461$63
31 years$1,851$1,311$909$619$416$52
32 years$1,774$1,240$848$569$377$44
33 years$1,701$1,174$792$523$341$36
34 years$1,633$1,113$740$482$309$30
35 years$1,569$1,056$692$443$280$25
36 years$1,509$1,002$647$408$253$21
37 years$1,452$952$606$376$230$18
38 years$1,398$904$567$347$208$15
39 years$1,347$860$531$320$189$12
40 years$1,299$818$498$295$171$10
41 years$1,253$779$467$272$155$8
42 years$1,209$742$438$251$141$7
43 years$1,168$707$411$232$128$6
44 years$1,129$674$386$214$116$5
45 years$1,091$642$362$198$105$4
46 years$1,055$613$340$183$96$3
47 years$1,021$585$320$169$87$3
48 years$989$558$300$156$79$2
49 years$957$533$282$144$72$2
50 years$928$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $950,000, adding $5,577 every year, while hoping to spend $47,872 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: 60/13/27 Blend
57$950,000$950,000$950,000$950,000
58$1,052,653$1,002,303$987,578$1,107,836
59$1,109,088$1,000,480$969,726$1,144,264
60$1,169,675$996,964$949,672$1,178,372
61$1,234,787$991,620$927,291$1,214,576
62$1,304,833$984,307$902,453$1,253,094
63$1,380,263$974,875$875,023$1,294,162
64$1,461,570$963,165$844,856$1,338,047
65$1,549,298$949,007$811,806$1,385,043
66$1,644,041$932,223$775,716$1,435,475
67$1,746,454$912,623$736,424$1,489,706
68$1,857,257$890,006$693,758$1,548,137
69$1,977,240$864,160$647,543$1,611,212
70$2,107,274$834,859$597,591$1,679,424
71$2,248,315$801,866$543,710$1,753,318
72$2,401,415$764,929$485,695$1,833,500
73$2,567,729$723,780$423,335$1,920,638
74$2,748,530$678,138$356,410$2,015,474
75$2,945,218$627,705$284,688$2,118,829
76$3,159,333$572,166$207,928$2,231,610
77$3,392,569$511,186$125,878$2,354,823
78$3,646,792$444,415$38,275$2,489,579
79$3,924,053$371,479$0$2,637,108
80$4,226,611$291,986$0$2,814,677
81$4,556,952$205,521$0$3,020,684
82$4,917,814$111,644$0$3,245,842
83$5,312,210$9,893$0$3,492,078
84$5,743,457$0$0$3,761,518
85$6,215,206$0$0$4,070,843
86$6,731,481$0$0$4,410,986
87$7,296,709$0$0$4,783,459
88$7,915,766$0$0$5,191,485
89$8,594,024$0$0$5,638,612
90$9,337,395$0$0$6,128,751
91$10,152,394$0$0$6,666,207
92$11,046,194$0$0$7,255,721
93$12,026,697$0$0$7,902,517
94$13,102,606$0$0$8,612,347
95$14,283,506$0$0$9,391,549
96$15,579,959$0$0$10,247,103
97$17,003,594$0$0$11,186,698
98$18,567,227$0$0$12,218,806
99$20,284,972$0$0$13,352,757
100$22,172,379$0$0$14,598,831