Can I retire at age 58 with 953,000?

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 $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%15.9%
1 years$78,698$77,997$77,313$76,645$75,994$74,156
2 years$38,959$38,234$37,531$36,849$36,187$34,348
3 years$25,715$24,986$24,285$23,609$22,959$21,174
4 years$19,094$18,367$17,673$17,009$16,374$14,658
5 years$15,122$14,400$13,715$13,065$12,448$10,804
6 years$12,476$11,759$11,084$10,448$9,849$8,281
7 years$10,586$9,875$9,211$8,590$8,010$6,517
8 years$9,169$8,465$7,811$7,206$6,645$5,227
9 years$8,068$7,370$6,728$6,138$5,596$4,251
10 years$7,187$6,496$5,866$5,291$4,768$3,495
11 years$6,467$5,783$5,164$4,605$4,101$2,898
12 years$5,868$5,191$4,583$4,039$3,554$2,419
13 years$5,361$4,691$4,095$3,566$3,099$2,030
14 years$4,927$4,264$3,679$3,165$2,716$1,711
15 years$4,551$3,895$3,322$2,823$2,392$1,447
16 years$4,222$3,574$3,012$2,528$2,114$1,228
17 years$3,933$3,291$2,740$2,271$1,874$1,045
18 years$3,675$3,041$2,502$2,047$1,667$891
19 years$3,446$2,819$2,290$1,849$1,485$761
20 years$3,239$2,619$2,102$1,675$1,327$650
21 years$3,052$2,440$1,933$1,520$1,187$557
22 years$2,883$2,277$1,782$1,382$1,064$477
23 years$2,728$2,130$1,645$1,259$955$410
24 years$2,587$1,996$1,521$1,148$859$352
25 years$2,457$1,873$1,409$1,048$773$302
26 years$2,337$1,760$1,307$959$696$260
27 years$2,227$1,657$1,214$877$628$224
28 years$2,124$1,561$1,128$804$566$192
29 years$2,029$1,473$1,050$737$511$166
30 years$1,940$1,391$978$677$462$143
31 years$1,857$1,315$912$621$418$123
32 years$1,779$1,244$851$571$378$106
33 years$1,707$1,178$794$525$342$91
34 years$1,638$1,117$742$483$310$79
35 years$1,574$1,059$694$445$280$68
36 years$1,514$1,005$649$410$254$58
37 years$1,456$955$607$377$230$50
38 years$1,402$907$569$348$209$43
39 years$1,351$863$533$321$189$37
40 years$1,303$821$500$296$172$32
41 years$1,257$781$468$273$156$28
42 years$1,213$744$439$252$141$24
43 years$1,172$709$412$233$128$21
44 years$1,132$676$387$215$116$18
45 years$1,095$644$363$198$106$15
46 years$1,059$615$341$183$96$13
47 years$1,024$587$321$169$87$11
48 years$992$560$301$156$79$10
49 years$960$535$283$145$72$9
50 years$930$511$266$134$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $953,000, adding $6,650 every year, while hoping to spend $38,640 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: 63/32/5 Blend
57$953,000$953,000$953,000$953,000
58$1,057,065$1,006,556$991,785$1,122,450
59$1,123,773$1,014,765$983,897$1,175,026
60$1,195,991$1,022,081$974,450$1,227,236
61$1,274,238$1,028,419$963,350$1,283,224
62$1,359,089$1,033,690$950,501$1,343,350
63$1,451,173$1,037,798$935,800$1,408,016
64$1,551,184$1,040,642$919,141$1,477,662
65$1,659,884$1,042,112$900,411$1,552,777
66$1,778,111$1,042,094$879,493$1,633,898
67$1,906,788$1,040,467$856,266$1,721,618
68$2,046,930$1,037,100$830,601$1,816,593
69$2,199,655$1,031,856$802,364$1,919,544
70$2,366,192$1,024,589$771,416$2,031,269
71$2,547,894$1,015,144$737,609$2,152,649
72$2,746,251$1,003,358$700,790$2,284,655
73$2,962,902$989,056$660,800$2,428,357
74$3,199,653$972,054$617,471$2,584,941
75$3,458,489$952,156$570,629$2,755,709
76$3,741,600$929,157$520,090$2,942,103
77$4,051,394$902,837$465,664$3,145,712
78$4,390,524$872,963$407,151$3,368,290
79$4,761,910$839,291$344,343$3,611,770
80$5,168,770$801,562$277,024$3,878,290
81$5,614,646$759,499$204,965$4,170,203
82$6,103,439$712,814$127,930$4,490,109
83$6,639,445$661,197$45,672$4,840,875
84$7,227,399$604,326$0$5,225,666
85$7,872,511$541,856$0$5,650,217
86$8,580,524$473,424$0$6,118,878
87$9,357,763$398,647$0$6,633,472
88$10,211,194$317,120$0$7,198,700
89$11,148,491$228,414$0$7,819,747
90$12,178,110$132,078$0$8,502,330
91$13,309,362$27,635$0$9,252,755
92$14,552,507$0$0$10,077,975
93$15,918,850$0$0$11,015,740
94$17,420,843$0$0$12,057,376
95$19,072,204$0$0$13,202,678
96$20,888,048$0$0$14,462,137
97$22,885,029$0$0$15,847,314
98$25,081,494$0$0$17,370,945
99$27,497,657$0$0$19,047,063
100$30,155,791$0$0$20,891,130