Can I retire at age 58 with 954,000?

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 $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%17.7%
1 years$78,780$78,079$77,394$76,726$76,073$73,697
2 years$39,000$38,274$37,570$36,887$36,225$33,853
3 years$25,742$25,012$24,310$23,634$22,983$20,688
4 years$19,114$18,387$17,692$17,027$16,392$14,192
5 years$15,138$14,415$13,729$13,078$12,461$10,362
6 years$12,489$11,771$11,095$10,459$9,860$7,865
7 years$10,597$9,886$9,220$8,599$8,019$6,126
8 years$9,179$8,474$7,820$7,213$6,652$4,862
9 years$8,076$7,378$6,735$6,144$5,602$3,911
10 years$7,195$6,503$5,872$5,296$4,773$3,180
11 years$6,474$5,789$5,169$4,609$4,105$2,606
12 years$5,874$5,196$4,588$4,043$3,557$2,150
13 years$5,366$4,696$4,099$3,569$3,102$1,782
14 years$4,932$4,268$3,683$3,169$2,719$1,484
15 years$4,556$3,899$3,325$2,826$2,394$1,239
16 years$4,227$3,578$3,015$2,530$2,116$1,038
17 years$3,937$3,295$2,743$2,273$1,876$872
18 years$3,679$3,045$2,504$2,049$1,668$733
19 years$3,449$2,822$2,292$1,851$1,487$618
20 years$3,242$2,622$2,104$1,677$1,328$521
21 years$3,055$2,442$1,935$1,522$1,189$440
22 years$2,886$2,280$1,784$1,384$1,065$372
23 years$2,731$2,132$1,647$1,260$956$315
24 years$2,590$1,998$1,523$1,149$860$266
25 years$2,460$1,875$1,411$1,050$774$226
26 years$2,340$1,762$1,308$960$697$191
27 years$2,229$1,658$1,215$878$628$162
28 years$2,126$1,563$1,129$805$567$137
29 years$2,031$1,474$1,051$738$512$117
30 years$1,942$1,392$979$677$462$99
31 years$1,859$1,316$913$622$418$84
32 years$1,781$1,245$852$572$378$71
33 years$1,708$1,179$795$526$342$61
34 years$1,640$1,118$743$484$310$51
35 years$1,576$1,060$695$445$281$44
36 years$1,515$1,006$650$410$254$37
37 years$1,458$956$608$378$230$31
38 years$1,404$908$569$348$209$27
39 years$1,353$864$534$321$189$23
40 years$1,304$822$500$296$172$19
41 years$1,258$782$469$273$156$16
42 years$1,215$745$440$252$141$14
43 years$1,173$710$413$233$128$12
44 years$1,133$677$387$215$117$10
45 years$1,096$645$364$199$106$9
46 years$1,060$615$342$183$96$7
47 years$1,026$587$321$169$87$6
48 years$993$561$302$157$79$5
49 years$961$535$284$145$72$4
50 years$931$511$267$134$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $954,000, adding $4,047 every year, while hoping to spend $28,732 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: 28/43/29 Blend
57$954,000$954,000$954,000$954,000
58$1,055,482$1,004,920$990,133$1,075,479
59$1,132,571$1,023,591$992,732$1,110,528
60$1,216,560$1,042,213$994,455$1,145,417
61$1,308,122$1,060,755$995,243$1,182,328
62$1,407,999$1,079,180$995,032$1,221,455
63$1,517,006$1,097,452$993,757$1,263,013
64$1,636,042$1,115,528$991,349$1,307,239
65$1,766,096$1,133,366$987,736$1,354,399
66$1,908,255$1,150,918$982,843$1,404,782
67$2,063,717$1,168,134$976,588$1,458,714
68$2,233,803$1,184,959$968,890$1,516,551
69$2,419,964$1,201,335$959,662$1,578,689
70$2,623,800$1,217,201$948,811$1,645,567
71$2,847,074$1,232,489$936,242$1,717,670
72$3,091,724$1,247,130$921,854$1,795,534
73$3,359,887$1,261,047$905,544$1,879,753
74$3,653,917$1,274,159$887,200$1,970,983
75$3,976,404$1,286,380$866,709$2,069,952
76$4,330,202$1,297,619$843,950$2,177,462
77$4,718,457$1,307,776$818,796$2,294,402
78$5,144,631$1,316,749$791,117$2,421,753
79$5,612,539$1,324,425$760,775$2,560,602
80$6,126,383$1,330,686$727,626$2,712,150
81$6,690,792$1,335,408$691,519$2,877,721
82$7,310,865$1,338,455$652,298$3,058,783
83$7,992,221$1,339,687$609,797$3,256,957
84$8,741,048$1,338,952$563,846$3,474,031
85$9,564,164$1,336,090$514,264$3,711,985
86$10,469,081$1,330,931$460,864$3,973,002
87$11,464,076$1,323,294$403,451$4,259,497
88$12,558,264$1,312,989$341,819$4,574,136
89$13,761,693$1,299,811$275,756$4,919,862
90$15,085,430$1,283,546$205,038$5,299,927
91$16,541,669$1,263,965$129,432$5,717,921
92$18,143,847$1,240,827$48,696$6,177,809
93$19,906,767$1,213,875$0$6,683,966
94$21,846,741$1,182,839$0$7,252,816
95$23,981,741$1,147,430$0$7,894,934
96$26,331,569$1,107,345$0$8,601,210
97$28,918,047$1,062,263$0$9,378,228
98$31,765,216$1,011,842$0$10,233,255
99$34,899,568$955,722$0$11,174,301
100$38,350,295$893,524$0$12,210,201