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%12%
1 years$78,946$78,242$77,556$76,887$76,233$75,594
2 years$39,082$38,354$37,649$36,965$36,301$35,658
3 years$25,796$25,065$24,361$23,684$23,031$22,402
4 years$19,154$18,425$17,729$17,063$16,426$15,817
5 years$15,170$14,446$13,758$13,106$12,487$11,899
6 years$12,515$11,796$11,119$10,481$9,880$9,315
7 years$10,619$9,906$9,240$8,617$8,035$7,493
8 years$9,198$8,491$7,836$7,228$6,666$6,146
9 years$8,093$7,393$6,749$6,157$5,614$5,116
10 years$7,210$6,517$5,884$5,307$4,783$4,308
11 years$6,488$5,802$5,180$4,619$4,114$3,660
12 years$5,886$5,207$4,597$4,052$3,565$3,132
13 years$5,378$4,706$4,107$3,577$3,109$2,697
14 years$4,942$4,277$3,691$3,175$2,725$2,334
15 years$4,565$3,908$3,332$2,832$2,399$2,028
16 years$4,235$3,585$3,021$2,535$2,121$1,768
17 years$3,945$3,302$2,749$2,278$1,880$1,546
18 years$3,687$3,051$2,509$2,053$1,672$1,356
19 years$3,456$2,828$2,297$1,855$1,490$1,192
20 years$3,249$2,628$2,108$1,680$1,331$1,049
21 years$3,062$2,447$1,939$1,525$1,191$925
22 years$2,892$2,285$1,787$1,386$1,068$817
23 years$2,737$2,137$1,650$1,263$958$723
24 years$2,595$2,002$1,526$1,152$861$640
25 years$2,465$1,879$1,414$1,052$775$567
26 years$2,345$1,766$1,311$962$698$503
27 years$2,234$1,662$1,217$880$630$446
28 years$2,131$1,566$1,132$806$568$396
29 years$2,035$1,477$1,053$740$513$352
30 years$1,946$1,395$981$679$463$313
31 years$1,863$1,319$915$623$419$279
32 years$1,785$1,248$853$573$379$248
33 years$1,712$1,182$797$527$343$221
34 years$1,644$1,120$744$485$311$197
35 years$1,579$1,062$696$446$281$175
36 years$1,518$1,008$651$411$255$156
37 years$1,461$958$609$379$231$139
38 years$1,407$910$571$349$209$124
39 years$1,356$865$535$322$190$111
40 years$1,307$823$501$297$172$99
41 years$1,261$784$470$274$156$88
42 years$1,217$746$441$253$142$78
43 years$1,175$711$414$233$129$70
44 years$1,136$678$388$215$117$62
45 years$1,098$646$365$199$106$56
46 years$1,062$617$342$184$96$50
47 years$1,028$589$322$170$87$44
48 years$995$562$302$157$79$40
49 years$963$537$284$145$72$35
50 years$933$513$267$134$65$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $956,000, adding $5,163 every year, while hoping to spend $49,149 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: 38/35/27 Blend
57$956,000$956,000$956,000$956,000
58$1,058,838$1,008,170$993,352$1,090,392
59$1,114,545$1,005,276$974,335$1,111,094
60$1,174,287$1,000,593$953,034$1,128,555
61$1,238,424$993,981$929,320$1,146,479
62$1,307,350$985,293$903,059$1,164,938
63$1,381,498$974,371$874,110$1,184,018
64$1,461,345$961,050$842,327$1,203,816
65$1,547,413$945,152$807,555$1,224,443
66$1,640,275$926,490$769,634$1,246,025
67$1,740,563$904,868$728,397$1,268,709
68$1,848,969$880,075$683,666$1,292,658
69$1,966,254$851,889$635,260$1,318,058
70$2,093,257$820,076$582,986$1,345,120
71$2,230,897$784,388$526,643$1,374,084
72$2,380,186$744,560$466,024$1,405,217
73$2,542,237$700,316$400,908$1,438,823
74$2,718,275$651,361$331,068$1,475,243
75$2,909,645$597,384$256,265$1,514,861
76$3,117,829$538,057$176,250$1,558,107
77$3,344,458$473,031$90,765$1,605,462
78$3,591,324$401,941$0$1,657,469
79$3,860,400$324,398$0$1,714,866
80$4,153,860$239,992$0$1,806,110
81$4,474,092$148,290$0$1,905,866
82$4,823,730$48,837$0$2,015,068
83$5,205,669$0$0$2,134,751
84$5,623,098$0$0$2,288,729
85$6,079,528$0$0$2,477,785
86$6,578,824$0$0$2,684,726
87$7,125,243$0$0$2,911,332
88$7,723,471$0$0$3,159,564
89$8,378,670$0$0$3,431,582
90$9,096,521$0$0$3,729,761
91$9,883,285$0$0$4,056,723
92$10,745,855$0$0$4,415,349
93$11,691,824$0$0$4,808,819
94$12,729,552$0$0$5,240,629
95$13,868,251$0$0$5,714,636
96$15,118,067$0$0$6,235,085
97$16,490,175$0$0$6,806,652
98$17,996,884$0$0$7,434,490
99$19,651,756$0$0$8,124,275
100$21,469,730$0$0$8,882,260