Can I retire at age 58 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$78,946$78,242$77,556$76,887$76,233$75,816
2 years$39,082$38,354$37,649$36,965$36,301$35,881
3 years$25,796$25,065$24,361$23,684$23,031$22,620
4 years$19,154$18,425$17,729$17,063$16,426$16,027
5 years$15,170$14,446$13,758$13,106$12,487$12,101
6 years$12,515$11,796$11,119$10,481$9,880$9,509
7 years$10,619$9,906$9,240$8,617$8,035$7,678
8 years$9,198$8,491$7,836$7,228$6,666$6,323
9 years$8,093$7,393$6,749$6,157$5,614$5,285
10 years$7,210$6,517$5,884$5,307$4,783$4,469
11 years$6,488$5,802$5,180$4,619$4,114$3,813
12 years$5,886$5,207$4,597$4,052$3,565$3,278
13 years$5,378$4,706$4,107$3,577$3,109$2,835
14 years$4,942$4,277$3,691$3,175$2,725$2,464
15 years$4,565$3,908$3,332$2,832$2,399$2,151
16 years$4,235$3,585$3,021$2,535$2,121$1,885
17 years$3,945$3,302$2,749$2,278$1,880$1,656
18 years$3,687$3,051$2,509$2,053$1,672$1,460
19 years$3,456$2,828$2,297$1,855$1,490$1,289
20 years$3,249$2,628$2,108$1,680$1,331$1,141
21 years$3,062$2,447$1,939$1,525$1,191$1,011
22 years$2,892$2,285$1,787$1,386$1,068$898
23 years$2,737$2,137$1,650$1,263$958$798
24 years$2,595$2,002$1,526$1,152$861$710
25 years$2,465$1,879$1,414$1,052$775$633
26 years$2,345$1,766$1,311$962$698$565
27 years$2,234$1,662$1,217$880$630$504
28 years$2,131$1,566$1,132$806$568$450
29 years$2,035$1,477$1,053$740$513$402
30 years$1,946$1,395$981$679$463$360
31 years$1,863$1,319$915$623$419$322
32 years$1,785$1,248$853$573$379$288
33 years$1,712$1,182$797$527$343$258
34 years$1,644$1,120$744$485$311$231
35 years$1,579$1,062$696$446$281$207
36 years$1,518$1,008$651$411$255$185
37 years$1,461$958$609$379$231$166
38 years$1,407$910$571$349$209$149
39 years$1,356$865$535$322$190$134
40 years$1,307$823$501$297$172$120
41 years$1,261$784$470$274$156$108
42 years$1,217$746$441$253$142$97
43 years$1,175$711$414$233$129$87
44 years$1,136$678$388$215$117$78
45 years$1,098$646$365$199$106$70
46 years$1,062$617$342$184$96$63
47 years$1,028$589$322$170$87$56
48 years$995$562$302$157$79$51
49 years$963$537$284$145$72$45
50 years$933$513$267$134$65$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $956,000, adding $2,076 every year, while hoping to spend $43,901 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: 49/38/13 Blend
57$956,000$956,000$956,000$956,000
58$1,055,653$1,004,985$990,167$1,103,517
59$1,116,620$1,007,519$976,628$1,139,192
60$1,182,333$1,008,706$961,163$1,173,179
61$1,253,232$1,008,433$943,663$1,209,113
62$1,329,796$1,006,582$924,010$1,247,192
63$1,412,556$1,003,024$902,085$1,287,635
64$1,502,091$997,627$877,759$1,330,684
65$1,599,041$990,247$850,900$1,376,610
66$1,704,107$980,733$821,370$1,425,713
67$1,818,062$968,925$789,021$1,478,326
68$1,941,754$954,652$753,704$1,534,821
69$2,076,118$937,735$715,258$1,595,608
70$2,222,181$917,983$673,518$1,661,143
71$2,381,072$895,193$628,309$1,731,934
72$2,554,036$869,152$579,452$1,808,542
73$2,742,440$839,632$526,756$1,891,590
74$2,947,789$806,395$470,023$1,981,769
75$3,171,742$769,187$409,047$2,079,845
76$3,416,120$727,738$343,611$2,186,667
77$3,682,933$681,765$273,490$2,303,176
78$3,974,389$630,969$198,449$2,430,413
79$4,292,921$575,031$118,241$2,569,533
80$4,641,208$513,616$32,611$2,721,814
81$5,022,197$446,369$0$2,888,672
82$5,439,137$372,917$0$3,079,824
83$5,895,601$292,862$0$3,294,210
84$6,395,528$205,788$0$3,529,261
85$6,943,252$111,252$0$3,787,141
86$7,543,549$8,788$0$4,070,242
87$8,201,676$0$0$4,381,209
88$8,923,426$0$0$4,765,652
89$9,715,178$0$0$5,191,518
90$10,583,958$0$0$5,658,926
91$11,537,505$0$0$6,172,052
92$12,584,344$0$0$6,735,498
93$13,733,866$0$0$7,354,333
94$14,996,416$0$0$8,034,142
95$16,383,390$0$0$8,781,076
96$17,907,341$0$0$9,601,912
97$19,582,099$0$0$10,504,115
98$21,422,902$0$0$11,495,912
99$23,446,534$0$0$12,586,365
100$25,671,489$0$0$13,785,456