Can I retire at age 58 with 954,000?

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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$78,780$78,079$77,394$76,726$76,073$75,531
2 years$39,000$38,274$37,570$36,887$36,225$35,678
3 years$25,742$25,012$24,310$23,634$22,983$22,448
4 years$19,114$18,387$17,692$17,027$16,392$15,873
5 years$15,138$14,415$13,729$13,078$12,461$11,960
6 years$12,489$11,771$11,095$10,459$9,860$9,378
7 years$10,597$9,886$9,220$8,599$8,019$7,556
8 years$9,179$8,474$7,820$7,213$6,652$6,208
9 years$8,076$7,378$6,735$6,144$5,602$5,177
10 years$7,195$6,503$5,872$5,296$4,773$4,367
11 years$6,474$5,789$5,169$4,609$4,105$3,717
12 years$5,874$5,196$4,588$4,043$3,557$3,187
13 years$5,366$4,696$4,099$3,569$3,102$2,750
14 years$4,932$4,268$3,683$3,169$2,719$2,384
15 years$4,556$3,899$3,325$2,826$2,394$2,076
16 years$4,227$3,578$3,015$2,530$2,116$1,814
17 years$3,937$3,295$2,743$2,273$1,876$1,589
18 years$3,679$3,045$2,504$2,049$1,668$1,397
19 years$3,449$2,822$2,292$1,851$1,487$1,230
20 years$3,242$2,622$2,104$1,677$1,328$1,085
21 years$3,055$2,442$1,935$1,522$1,189$959
22 years$2,886$2,280$1,784$1,384$1,065$849
23 years$2,731$2,132$1,647$1,260$956$753
24 years$2,590$1,998$1,523$1,149$860$668
25 years$2,460$1,875$1,411$1,050$774$593
26 years$2,340$1,762$1,308$960$697$527
27 years$2,229$1,658$1,215$878$628$469
28 years$2,126$1,563$1,129$805$567$418
29 years$2,031$1,474$1,051$738$512$372
30 years$1,942$1,392$979$677$462$332
31 years$1,859$1,316$913$622$418$296
32 years$1,781$1,245$852$572$378$264
33 years$1,708$1,179$795$526$342$235
34 years$1,640$1,118$743$484$310$210
35 years$1,576$1,060$695$445$281$188
36 years$1,515$1,006$650$410$254$168
37 years$1,458$956$608$378$230$150
38 years$1,404$908$569$348$209$134
39 years$1,353$864$534$321$189$120
40 years$1,304$822$500$296$172$107
41 years$1,258$782$469$273$156$96
42 years$1,215$745$440$252$141$86
43 years$1,173$710$413$233$128$77
44 years$1,133$677$387$215$117$68
45 years$1,096$645$364$199$106$61
46 years$1,060$615$342$183$96$55
47 years$1,026$587$321$169$87$49
48 years$993$561$302$157$79$44
49 years$961$535$284$145$72$39
50 years$931$511$267$134$65$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $954,000, adding $5,336 every year, while hoping to spend $26,895 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: 51/44/5 Blend
57$954,000$954,000$954,000$954,000
58$1,056,812$1,006,250$991,463$1,109,214
59$1,135,991$1,026,940$996,061$1,166,069
60$1,222,344$1,047,743$999,912$1,224,470
61$1,316,576$1,068,635$1,002,961$1,287,301
62$1,419,461$1,089,592$1,005,154$1,354,982
63$1,531,850$1,110,586$1,006,431$1,427,978
64$1,654,683$1,131,589$1,006,731$1,506,798
65$1,788,991$1,152,568$1,005,987$1,592,006
66$1,935,914$1,173,489$1,004,133$1,684,222
67$2,096,703$1,194,316$1,001,097$1,784,129
68$2,272,737$1,215,007$996,804$1,892,479
69$2,465,535$1,235,521$991,176$2,010,103
70$2,676,769$1,255,811$984,130$2,137,914
71$2,908,281$1,275,828$975,580$2,276,920
72$3,162,099$1,295,517$965,435$2,428,233
73$3,440,458$1,314,822$953,602$2,593,077
74$3,745,818$1,333,681$939,981$2,772,801
75$4,080,889$1,352,030$924,468$2,968,893
76$4,448,657$1,369,796$906,955$3,182,993
77$4,852,410$1,386,907$887,328$3,416,908
78$5,295,771$1,403,280$865,469$3,672,632
79$5,782,729$1,418,830$841,252$3,952,361
80$6,317,681$1,433,467$814,547$4,258,516
81$6,905,469$1,447,091$785,219$4,593,768
82$7,551,429$1,459,600$753,126$4,961,060
83$8,261,436$1,470,883$718,117$5,363,635
84$9,041,967$1,480,820$680,038$5,805,071
85$9,900,155$1,489,287$638,727$6,289,310
86$10,843,859$1,496,151$594,012$6,820,700
87$11,881,738$1,501,268$545,717$7,404,031
88$13,023,333$1,504,487$493,656$8,044,588
89$14,279,155$1,505,649$437,636$8,748,193
90$15,660,784$1,504,582$377,453$9,521,266
91$17,180,983$1,501,105$312,896$10,370,885
92$18,853,810$1,495,026$243,745$11,304,851
93$20,694,757$1,486,140$169,768$12,331,764
94$22,720,893$1,474,232$90,726$13,461,107
95$24,951,026$1,459,071$6,367$14,703,330
96$27,405,879$1,440,414$0$16,069,956
97$30,108,288$1,418,004$0$17,578,146
98$33,083,413$1,391,566$0$19,238,093
99$36,358,979$1,360,811$0$21,064,902
100$39,965,537$1,325,432$0$23,075,604