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%19.2%
1 years$78,780$78,079$77,394$76,726$76,073$73,258
2 years$39,000$38,274$37,570$36,887$36,225$33,420
3 years$25,742$25,012$24,310$23,634$22,983$20,277
4 years$19,114$18,387$17,692$17,027$16,392$13,805
5 years$15,138$14,415$13,729$13,078$12,461$10,001
6 years$12,489$11,771$11,095$10,459$9,860$7,528
7 years$10,597$9,886$9,220$8,599$8,019$5,814
8 years$9,179$8,474$7,820$7,213$6,652$4,573
9 years$8,076$7,378$6,735$6,144$5,602$3,645
10 years$7,195$6,503$5,872$5,296$4,773$2,936
11 years$6,474$5,789$5,169$4,609$4,105$2,383
12 years$5,874$5,196$4,588$4,043$3,557$1,946
13 years$5,366$4,696$4,099$3,569$3,102$1,597
14 years$4,932$4,268$3,683$3,169$2,719$1,316
15 years$4,556$3,899$3,325$2,826$2,394$1,087
16 years$4,227$3,578$3,015$2,530$2,116$901
17 years$3,937$3,295$2,743$2,273$1,876$748
18 years$3,679$3,045$2,504$2,049$1,668$622
19 years$3,449$2,822$2,292$1,851$1,487$518
20 years$3,242$2,622$2,104$1,677$1,328$432
21 years$3,055$2,442$1,935$1,522$1,189$361
22 years$2,886$2,280$1,784$1,384$1,065$302
23 years$2,731$2,132$1,647$1,260$956$252
24 years$2,590$1,998$1,523$1,149$860$211
25 years$2,460$1,875$1,411$1,050$774$176
26 years$2,340$1,762$1,308$960$697$148
27 years$2,229$1,658$1,215$878$628$124
28 years$2,126$1,563$1,129$805$567$104
29 years$2,031$1,474$1,051$738$512$87
30 years$1,942$1,392$979$677$462$73
31 years$1,859$1,316$913$622$418$61
32 years$1,781$1,245$852$572$378$51
33 years$1,708$1,179$795$526$342$43
34 years$1,640$1,118$743$484$310$36
35 years$1,576$1,060$695$445$281$30
36 years$1,515$1,006$650$410$254$25
37 years$1,458$956$608$378$230$21
38 years$1,404$908$569$348$209$18
39 years$1,353$864$534$321$189$15
40 years$1,304$822$500$296$172$13
41 years$1,258$782$469$273$156$10
42 years$1,215$745$440$252$141$9
43 years$1,173$710$413$233$128$7
44 years$1,133$677$387$215$117$6
45 years$1,096$645$364$199$106$5
46 years$1,060$615$342$183$96$4
47 years$1,026$587$321$169$87$4
48 years$993$561$302$157$79$3
49 years$961$535$284$145$72$3
50 years$931$511$267$134$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $954,000, adding $3,532 every year, while hoping to spend $47,885 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: 37/35/28 Blend
57$954,000$954,000$954,000$954,000
58$1,054,951$1,004,389$989,602$1,085,044
59$1,111,607$1,002,655$971,805$1,105,867
60$1,172,437$999,231$951,806$1,123,728
61$1,237,816$993,984$929,482$1,142,106
62$1,308,156$986,772$904,702$1,161,077
63$1,383,909$977,445$877,331$1,180,733
64$1,465,572$965,844$847,226$1,201,176
65$1,553,691$951,801$814,239$1,222,524
66$1,648,865$935,136$778,213$1,244,911
67$1,751,752$915,661$738,986$1,268,489
68$1,863,077$893,175$696,389$1,293,430
69$1,983,636$867,465$650,242$1,319,930
70$2,114,303$838,307$600,362$1,348,209
71$2,256,040$805,463$546,553$1,378,516
72$2,409,907$768,681$488,613$1,411,132
73$2,577,066$727,695$426,330$1,446,372
74$2,758,798$682,223$359,483$1,484,592
75$2,956,510$631,968$287,841$1,526,188
76$3,171,754$576,613$211,163$1,571,608
77$3,406,233$515,827$129,197$1,621,353
78$3,661,824$449,258$41,680$1,675,982
79$3,940,592$376,534$0$1,736,121
80$4,244,811$297,263$0$1,817,921
81$4,576,981$211,029$0$1,921,006
82$4,939,858$117,394$0$2,033,873
83$5,336,473$15,895$0$2,157,586
84$5,770,164$0$0$2,293,328
85$6,244,607$0$0$2,478,591
86$6,763,849$0$0$2,688,178
87$7,332,345$0$0$2,917,781
88$7,955,004$0$0$3,169,398
89$8,637,229$0$0$3,445,232
90$9,384,971$0$0$3,747,706
91$10,204,785$0$0$4,079,491
92$11,103,890$0$0$4,443,528
93$12,090,239$0$0$4,843,057
94$13,172,587$0$0$5,281,645
95$14,360,584$0$0$5,763,224
96$15,664,854$0$0$6,292,125
97$17,097,105$0$0$6,873,116
98$18,670,229$0$0$7,511,453
99$20,398,432$0$0$8,212,924
100$22,297,363$0$0$8,983,908