Can I retire at age 58 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$78,533$77,833$77,151$76,485$75,834$74,980
2 years$38,878$38,154$37,452$36,771$36,111$35,251
3 years$25,661$24,934$24,234$23,560$22,911$22,072
4 years$19,054$18,329$17,636$16,974$16,340$15,528
5 years$15,091$14,370$13,686$13,037$12,421$11,640
6 years$12,449$11,734$11,061$10,426$9,829$9,078
7 years$10,564$9,854$9,191$8,572$7,993$7,273
8 years$9,150$8,447$7,795$7,191$6,631$5,942
9 years$8,051$7,355$6,714$6,125$5,584$4,926
10 years$7,172$6,483$5,853$5,280$4,758$4,130
11 years$6,454$5,771$5,153$4,595$4,092$3,494
12 years$5,855$5,180$4,573$4,030$3,546$2,977
13 years$5,350$4,681$4,086$3,558$3,092$2,552
14 years$4,916$4,255$3,671$3,159$2,711$2,198
15 years$4,541$3,887$3,315$2,817$2,387$1,901
16 years$4,213$3,566$3,005$2,522$2,109$1,649
17 years$3,924$3,284$2,735$2,266$1,870$1,436
18 years$3,668$3,035$2,496$2,042$1,663$1,253
19 years$3,438$2,813$2,285$1,845$1,482$1,095
20 years$3,232$2,614$2,097$1,671$1,324$959
21 years$3,046$2,435$1,929$1,517$1,185$842
22 years$2,877$2,273$1,778$1,379$1,062$739
23 years$2,723$2,126$1,642$1,256$953$650
24 years$2,581$1,992$1,518$1,146$857$573
25 years$2,452$1,869$1,406$1,046$771$505
26 years$2,332$1,756$1,304$957$695$445
27 years$2,222$1,653$1,211$876$626$393
28 years$2,120$1,558$1,126$802$565$347
29 years$2,024$1,469$1,048$736$510$307
30 years$1,936$1,388$976$675$461$271
31 years$1,853$1,312$910$620$417$240
32 years$1,776$1,241$849$570$377$212
33 years$1,703$1,176$793$524$341$188
34 years$1,635$1,114$741$482$309$166
35 years$1,571$1,057$692$444$280$147
36 years$1,510$1,003$648$409$254$130
37 years$1,453$953$606$377$230$116
38 years$1,399$905$568$347$208$102
39 years$1,348$861$532$320$189$91
40 years$1,300$819$499$295$171$80
41 years$1,254$780$467$272$155$71
42 years$1,211$743$438$251$141$63
43 years$1,169$707$411$232$128$56
44 years$1,130$674$386$214$116$50
45 years$1,092$643$363$198$105$44
46 years$1,057$613$341$183$96$39
47 years$1,022$585$320$169$87$35
48 years$990$559$301$156$79$31
49 years$958$534$283$144$72$27
50 years$929$510$266$133$65$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $951,000, adding $4,787 every year, while hoping to spend $42,826 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: 88/5/7 Blend
57$951,000$951,000$951,000$951,000
58$1,052,940$1,002,537$987,796$1,144,677
59$1,114,773$1,006,095$975,321$1,208,700
60$1,181,478$1,008,391$960,992$1,272,608
61$1,253,506$1,009,320$944,703$1,341,468
62$1,331,354$1,008,767$926,341$1,415,749
63$1,415,568$1,006,612$905,789$1,495,965
64$1,506,746$1,002,726$882,923$1,582,681
65$1,605,548$996,973$857,615$1,676,521
66$1,712,699$989,210$829,730$1,778,171
67$1,828,996$979,283$799,127$1,888,385
68$1,955,316$967,030$765,660$2,007,995
69$2,092,622$952,280$729,175$2,137,916
70$2,241,977$934,849$689,510$2,279,156
71$2,404,548$914,545$646,497$2,432,824
72$2,581,618$891,164$599,960$2,600,143
73$2,774,600$864,489$549,717$2,782,459
74$2,985,052$834,291$495,575$2,981,255
75$3,214,684$800,327$437,333$3,198,165
76$3,465,380$762,343$374,782$3,434,986
77$3,739,216$720,064$307,705$3,693,700
78$4,038,475$673,206$235,872$3,976,492
79$4,365,671$621,465$159,045$4,285,767
80$4,723,572$564,519$76,975$4,624,173
81$5,115,225$502,030$0$4,994,630
82$5,543,988$433,639$0$5,401,147
83$6,013,555$358,967$0$5,852,663
84$6,527,997$277,616$0$6,347,348
85$7,091,794$189,161$0$6,889,527
86$7,709,885$93,157$0$7,483,962
87$8,387,705$0$0$8,135,902
88$9,131,241$0$0$8,851,725
89$9,947,090$0$0$9,642,796
90$10,842,517$0$0$10,511,035
91$11,825,522$0$0$11,464,201
92$12,904,922$0$0$12,510,843
93$14,090,427$0$0$13,660,377
94$15,392,732$0$0$14,923,176
95$16,823,623$0$0$16,310,669
96$18,396,082$0$0$17,835,443
97$20,124,409$0$0$19,511,369
98$22,024,361$0$0$21,353,725
99$24,113,297$0$0$23,379,346
100$26,410,341$0$0$25,606,778