Can I retire at age 58 with 953,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$78,698$77,997$77,313$76,645$75,994$75,169
2 years$38,959$38,234$37,531$36,849$36,187$35,357
3 years$25,715$24,986$24,285$23,609$22,959$22,148
4 years$19,094$18,367$17,673$17,009$16,374$15,590
5 years$15,122$14,400$13,715$13,065$12,448$11,692
6 years$12,476$11,759$11,084$10,448$9,849$9,123
7 years$10,586$9,875$9,211$8,590$8,010$7,314
8 years$9,169$8,465$7,811$7,206$6,645$5,979
9 years$8,068$7,370$6,728$6,138$5,596$4,960
10 years$7,187$6,496$5,866$5,291$4,768$4,161
11 years$6,467$5,783$5,164$4,605$4,101$3,522
12 years$5,868$5,191$4,583$4,039$3,554$3,003
13 years$5,361$4,691$4,095$3,566$3,099$2,576
14 years$4,927$4,264$3,679$3,165$2,716$2,220
15 years$4,551$3,895$3,322$2,823$2,392$1,921
16 years$4,222$3,574$3,012$2,528$2,114$1,668
17 years$3,933$3,291$2,740$2,271$1,874$1,453
18 years$3,675$3,041$2,502$2,047$1,667$1,269
19 years$3,446$2,819$2,290$1,849$1,485$1,110
20 years$3,239$2,619$2,102$1,675$1,327$973
21 years$3,052$2,440$1,933$1,520$1,187$854
22 years$2,883$2,277$1,782$1,382$1,064$751
23 years$2,728$2,130$1,645$1,259$955$661
24 years$2,587$1,996$1,521$1,148$859$583
25 years$2,457$1,873$1,409$1,048$773$514
26 years$2,337$1,760$1,307$959$696$454
27 years$2,227$1,657$1,214$877$628$401
28 years$2,124$1,561$1,128$804$566$354
29 years$2,029$1,473$1,050$737$511$313
30 years$1,940$1,391$978$677$462$277
31 years$1,857$1,315$912$621$418$245
32 years$1,779$1,244$851$571$378$217
33 years$1,707$1,178$794$525$342$192
34 years$1,638$1,117$742$483$310$171
35 years$1,574$1,059$694$445$280$151
36 years$1,514$1,005$649$410$254$134
37 years$1,456$955$607$377$230$119
38 years$1,402$907$569$348$209$105
39 years$1,351$863$533$321$189$93
40 years$1,303$821$500$296$172$83
41 years$1,257$781$468$273$156$74
42 years$1,213$744$439$252$141$65
43 years$1,172$709$412$233$128$58
44 years$1,132$676$387$215$116$51
45 years$1,095$644$363$198$106$46
46 years$1,059$615$341$183$96$41
47 years$1,024$587$321$169$87$36
48 years$992$560$301$156$79$32
49 years$960$535$283$145$72$28
50 years$930$511$266$134$65$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $953,000, adding $2,862 every year, while hoping to spend $23,639 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: 66/27/7 Blend
57$953,000$953,000$953,000$953,000
58$1,053,158$1,002,649$987,878$1,121,187
59$1,135,429$1,026,627$995,820$1,190,719
60$1,225,298$1,050,988$1,003,236$1,263,585
61$1,323,517$1,075,725$1,010,083$1,342,591
62$1,430,912$1,100,832$1,016,317$1,428,333
63$1,548,391$1,126,299$1,021,889$1,521,466
64$1,676,957$1,152,116$1,026,752$1,622,713
65$1,817,710$1,178,274$1,030,852$1,732,868
66$1,971,867$1,204,760$1,034,136$1,852,807
67$2,140,763$1,231,558$1,036,545$1,983,495
68$2,325,870$1,258,655$1,038,019$2,125,993
69$2,528,812$1,286,032$1,038,496$2,281,471
70$2,751,373$1,313,669$1,037,907$2,451,219
71$2,995,521$1,341,547$1,036,185$2,636,657
72$3,263,423$1,369,641$1,033,256$2,839,347
73$3,557,464$1,397,927$1,029,043$3,061,014
74$3,880,275$1,426,375$1,023,465$3,303,557
75$4,234,752$1,454,955$1,016,440$3,569,065
76$4,624,083$1,483,635$1,007,877$3,859,845
77$5,051,784$1,512,377$997,685$4,178,435
78$5,521,726$1,541,144$985,768$4,527,634
79$6,038,173$1,569,891$972,022$4,910,522
80$6,605,826$1,598,574$956,344$5,330,499
81$7,229,859$1,627,143$938,620$5,791,306
82$7,915,976$1,655,545$918,735$6,297,068
83$8,670,460$1,683,721$896,567$6,852,330
84$9,500,233$1,711,610$871,989$7,462,100
85$10,412,923$1,739,145$844,867$8,131,897
86$11,416,933$1,766,255$815,062$8,867,803
87$12,521,522$1,792,863$782,428$9,676,519
88$13,736,891$1,818,887$746,813$10,565,432
89$15,074,279$1,844,238$708,057$11,542,679
90$16,546,073$1,868,823$665,994$12,617,231
91$18,165,917$1,892,540$620,449$13,798,970
92$19,948,848$1,915,282$571,242$15,098,790
93$21,911,433$1,936,933$518,181$16,528,694
94$24,071,928$1,957,371$461,068$18,101,910
95$26,450,447$1,976,465$399,697$19,833,017
96$29,069,155$1,994,075$333,849$21,738,081
97$31,952,476$2,010,051$263,300$23,834,805
98$35,127,321$2,024,236$187,813$26,142,703
99$38,623,344$2,036,460$107,141$28,683,277
100$42,473,222$2,046,544$21,028$31,480,224