Can I retire at age 58 with 956,000?

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 $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%13.6%
1 years$78,946$78,242$77,556$76,887$76,233$75,094
2 years$39,082$38,354$37,649$36,965$36,301$35,156
3 years$25,796$25,065$24,361$23,684$23,031$21,916
4 years$19,154$18,425$17,729$17,063$16,426$15,349
5 years$15,170$14,446$13,758$13,106$12,487$11,451
6 years$12,515$11,796$11,119$10,481$9,880$8,887
7 years$10,619$9,906$9,240$8,617$8,035$7,085
8 years$9,198$8,491$7,836$7,228$6,666$5,759
9 years$8,093$7,393$6,749$6,157$5,614$4,749
10 years$7,210$6,517$5,884$5,307$4,783$3,960
11 years$6,488$5,802$5,180$4,619$4,114$3,331
12 years$5,886$5,207$4,597$4,052$3,565$2,822
13 years$5,378$4,706$4,107$3,577$3,109$2,405
14 years$4,942$4,277$3,691$3,175$2,725$2,059
15 years$4,565$3,908$3,332$2,832$2,399$1,770
16 years$4,235$3,585$3,021$2,535$2,121$1,526
17 years$3,945$3,302$2,749$2,278$1,880$1,320
18 years$3,687$3,051$2,509$2,053$1,672$1,144
19 years$3,456$2,828$2,297$1,855$1,490$994
20 years$3,249$2,628$2,108$1,680$1,331$865
21 years$3,062$2,447$1,939$1,525$1,191$754
22 years$2,892$2,285$1,787$1,386$1,068$658
23 years$2,737$2,137$1,650$1,263$958$574
24 years$2,595$2,002$1,526$1,152$861$502
25 years$2,465$1,879$1,414$1,052$775$440
26 years$2,345$1,766$1,311$962$698$385
27 years$2,234$1,662$1,217$880$630$337
28 years$2,131$1,566$1,132$806$568$296
29 years$2,035$1,477$1,053$740$513$259
30 years$1,946$1,395$981$679$463$228
31 years$1,863$1,319$915$623$419$200
32 years$1,785$1,248$853$573$379$176
33 years$1,712$1,182$797$527$343$154
34 years$1,644$1,120$744$485$311$136
35 years$1,579$1,062$696$446$281$119
36 years$1,518$1,008$651$411$255$105
37 years$1,461$958$609$379$231$92
38 years$1,407$910$571$349$209$81
39 years$1,356$865$535$322$190$71
40 years$1,307$823$501$297$172$63
41 years$1,261$784$470$274$156$55
42 years$1,217$746$441$253$142$48
43 years$1,175$711$414$233$129$43
44 years$1,136$678$388$215$117$38
45 years$1,098$646$365$199$106$33
46 years$1,062$617$342$184$96$29
47 years$1,028$589$322$170$87$26
48 years$995$562$302$157$79$22
49 years$963$537$284$145$72$20
50 years$933$513$267$134$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $956,000, adding $6,092 every year, while hoping to spend $41,631 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: 49/29/22 Blend
57$956,000$956,000$956,000$956,000
58$1,059,796$1,009,128$994,310$1,104,882
59$1,123,600$1,014,280$983,324$1,142,024
60$1,192,517$1,018,289$970,575$1,177,658
61$1,267,024$1,021,056$955,960$1,215,512
62$1,347,646$1,022,474$939,370$1,255,812
63$1,434,961$1,022,429$920,694$1,298,810
64$1,529,601$1,020,803$899,812$1,344,784
65$1,632,266$1,017,468$876,601$1,394,046
66$1,743,722$1,012,289$850,932$1,446,938
67$1,864,813$1,005,122$822,670$1,503,843
68$1,996,467$995,816$791,672$1,565,183
69$2,139,706$984,210$757,792$1,631,426
70$2,295,651$970,132$720,874$1,703,093
71$2,465,541$953,402$680,756$1,780,760
72$2,650,735$933,827$637,270$1,865,064
73$2,852,731$911,206$590,240$1,956,712
74$3,073,176$885,322$539,479$2,056,486
75$3,313,885$855,947$484,797$2,165,254
76$3,576,855$822,842$425,991$2,283,975
77$3,864,283$785,750$362,851$2,413,710
78$4,178,591$744,403$295,157$2,555,634
79$4,522,443$698,514$222,680$2,711,048
80$4,898,773$647,782$145,181$2,881,391
81$5,310,812$591,888$62,409$3,068,252
82$5,762,120$530,495$0$3,273,392
83$6,256,613$463,246$0$3,504,842
84$6,798,607$389,765$0$3,774,696
85$7,392,855$309,654$0$4,070,736
86$8,044,591$222,492$0$4,395,658
87$8,759,581$127,835$0$4,752,440
88$9,544,174$25,215$0$5,144,369
89$10,405,366$0$0$5,575,070
90$11,350,862$0$0$6,075,945
91$12,389,149$0$0$6,634,920
92$13,529,577$0$0$7,248,997
93$14,782,446$0$0$7,923,735
94$16,159,103$0$0$8,665,259
95$17,672,047$0$0$9,480,318
96$19,335,050$0$0$10,376,346
97$21,163,283$0$0$11,361,534
98$23,173,463$0$0$12,444,905
99$25,384,003$0$0$13,636,401
100$27,815,195$0$0$14,946,976