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%18.7%
1 years$78,780$78,079$77,394$76,726$76,073$73,403
2 years$39,000$38,274$37,570$36,887$36,225$33,563
3 years$25,742$25,012$24,310$23,634$22,983$20,413
4 years$19,114$18,387$17,692$17,027$16,392$13,933
5 years$15,138$14,415$13,729$13,078$12,461$10,120
6 years$12,489$11,771$11,095$10,459$9,860$7,638
7 years$10,597$9,886$9,220$8,599$8,019$5,916
8 years$9,179$8,474$7,820$7,213$6,652$4,667
9 years$8,076$7,378$6,735$6,144$5,602$3,732
10 years$7,195$6,503$5,872$5,296$4,773$3,015
11 years$6,474$5,789$5,169$4,609$4,105$2,455
12 years$5,874$5,196$4,588$4,043$3,557$2,012
13 years$5,366$4,696$4,099$3,569$3,102$1,656
14 years$4,932$4,268$3,683$3,169$2,719$1,369
15 years$4,556$3,899$3,325$2,826$2,394$1,136
16 years$4,227$3,578$3,015$2,530$2,116$945
17 years$3,937$3,295$2,743$2,273$1,876$787
18 years$3,679$3,045$2,504$2,049$1,668$657
19 years$3,449$2,822$2,292$1,851$1,487$550
20 years$3,242$2,622$2,104$1,677$1,328$460
21 years$3,055$2,442$1,935$1,522$1,189$386
22 years$2,886$2,280$1,784$1,384$1,065$323
23 years$2,731$2,132$1,647$1,260$956$271
24 years$2,590$1,998$1,523$1,149$860$228
25 years$2,460$1,875$1,411$1,050$774$192
26 years$2,340$1,762$1,308$960$697$161
27 years$2,229$1,658$1,215$878$628$135
28 years$2,126$1,563$1,129$805$567$114
29 years$2,031$1,474$1,051$738$512$96
30 years$1,942$1,392$979$677$462$81
31 years$1,859$1,316$913$622$418$68
32 years$1,781$1,245$852$572$378$57
33 years$1,708$1,179$795$526$342$48
34 years$1,640$1,118$743$484$310$41
35 years$1,576$1,060$695$445$281$34
36 years$1,515$1,006$650$410$254$29
37 years$1,458$956$608$378$230$24
38 years$1,404$908$569$348$209$20
39 years$1,353$864$534$321$189$17
40 years$1,304$822$500$296$172$14
41 years$1,258$782$469$273$156$12
42 years$1,215$745$440$252$141$10
43 years$1,173$710$413$233$128$9
44 years$1,133$677$387$215$117$7
45 years$1,096$645$364$199$106$6
46 years$1,060$615$342$183$96$5
47 years$1,026$587$321$169$87$4
48 years$993$561$302$157$79$4
49 years$961$535$284$145$72$3
50 years$931$511$267$134$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $954,000, adding $2,564 every year, while hoping to spend $51,337 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: 73/18/9 Blend
57$954,000$954,000$954,000$954,000
58$1,053,953$1,003,391$988,604$1,129,050
59$1,106,834$997,935$967,100$1,173,502
60$1,163,388$990,491$943,155$1,215,513
61$1,223,936$980,907$916,633$1,260,098
62$1,288,829$969,023$887,392$1,307,497
63$1,358,453$954,669$855,283$1,357,972
64$1,433,231$937,663$820,150$1,411,817
65$1,513,627$917,815$781,832$1,469,354
66$1,600,151$894,922$740,157$1,530,938
67$1,693,362$868,769$694,948$1,596,964
68$1,793,876$839,129$646,020$1,667,867
69$1,902,367$805,763$593,178$1,744,125
70$2,019,579$768,416$536,219$1,826,269
71$2,146,326$726,818$474,933$1,914,886
72$2,283,505$680,685$409,096$2,010,622
73$2,432,101$629,718$338,480$2,114,191
74$2,593,197$573,596$262,841$2,226,384
75$2,767,986$511,985$181,929$2,348,071
76$2,957,777$444,529$95,480$2,480,216
77$3,164,012$370,852$3,220$2,623,882
78$3,388,275$290,558$0$2,780,243
79$3,632,312$203,228$0$2,959,741
80$3,898,041$108,420$0$3,155,586
81$4,187,575$5,666$0$3,369,080
82$4,503,237$0$0$3,601,999
83$4,847,585$0$0$3,877,204
84$5,223,434$0$0$4,178,852
85$5,633,884$0$0$4,508,312
86$6,082,347$0$0$4,868,329
87$6,572,577$0$0$5,261,922
88$7,108,711$0$0$5,692,418
89$7,695,300$0$0$6,163,479
90$8,337,359$0$0$6,679,137
91$9,040,408$0$0$7,243,832
92$9,810,527$0$0$7,862,453
93$10,654,409$0$0$8,540,387
94$11,579,428$0$0$9,283,562
95$12,593,704$0$0$10,098,510
96$13,706,182$0$0$10,992,427
97$14,926,712$0$0$11,973,234
98$16,266,145$0$0$13,049,661
99$17,736,432$0$0$14,231,321
100$19,350,740$0$0$15,528,804