Can I retire at age 58 with 957,000?

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 $957,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$79,028$78,324$77,637$76,967$76,313$74,167
2 years$39,123$38,394$37,688$37,003$36,339$34,194
3 years$25,823$25,091$24,387$23,708$23,055$20,977
4 years$19,174$18,445$17,747$17,081$16,443$14,449
5 years$15,186$14,461$13,773$13,120$12,500$10,594
6 years$12,528$11,808$11,130$10,492$9,891$8,076
7 years$10,630$9,917$9,249$8,626$8,044$6,320
8 years$9,208$8,500$7,844$7,236$6,673$5,039
9 years$8,102$7,401$6,756$6,164$5,620$4,074
10 years$7,217$6,524$5,890$5,313$4,788$3,328
11 years$6,494$5,808$5,186$4,624$4,118$2,742
12 years$5,892$5,213$4,602$4,056$3,569$2,274
13 years$5,383$4,711$4,112$3,581$3,112$1,895
14 years$4,947$4,282$3,694$3,178$2,728$1,587
15 years$4,570$3,912$3,336$2,835$2,402$1,333
16 years$4,240$3,589$3,024$2,538$2,123$1,123
17 years$3,949$3,305$2,752$2,280$1,882$948
18 years$3,691$3,054$2,512$2,055$1,674$802
19 years$3,460$2,831$2,300$1,857$1,492$680
20 years$3,253$2,630$2,111$1,682$1,332$577
21 years$3,065$2,450$1,941$1,526$1,192$491
22 years$2,895$2,287$1,789$1,388$1,069$417
23 years$2,740$2,139$1,652$1,264$959$355
24 years$2,598$2,004$1,528$1,153$862$303
25 years$2,467$1,881$1,415$1,053$776$258
26 years$2,347$1,768$1,312$963$699$220
27 years$2,236$1,663$1,219$881$630$188
28 years$2,133$1,568$1,133$807$569$160
29 years$2,037$1,479$1,054$740$513$137
30 years$1,948$1,397$982$679$464$117
31 years$1,865$1,320$916$624$419$100
32 years$1,787$1,249$854$573$379$85
33 years$1,714$1,183$798$527$343$73
34 years$1,645$1,121$745$485$311$62
35 years$1,581$1,063$697$447$282$53
36 years$1,520$1,009$652$411$255$46
37 years$1,463$959$610$379$231$39
38 years$1,408$911$571$349$210$33
39 years$1,357$866$535$322$190$28
40 years$1,308$824$502$297$172$24
41 years$1,262$785$470$274$156$21
42 years$1,218$747$441$253$142$18
43 years$1,177$712$414$234$129$15
44 years$1,137$679$389$216$117$13
45 years$1,099$647$365$199$106$11
46 years$1,063$617$343$184$96$10
47 years$1,029$589$322$170$88$8
48 years$996$562$303$157$79$7
49 years$964$537$284$145$72$6
50 years$934$513$267$134$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $957,000, adding $5,296 every year, while hoping to spend $27,452 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: 34/41/25 Blend
57$957,000$957,000$957,000$957,000
58$1,060,077$1,009,356$994,522$1,087,918
59$1,138,996$1,029,606$998,630$1,129,447
60$1,225,045$1,049,927$1,001,955$1,171,346
61$1,318,921$1,070,296$1,004,443$1,215,983
62$1,421,395$1,090,684$1,006,035$1,263,619
63$1,533,310$1,111,061$1,006,671$1,314,543
64$1,655,600$1,131,394$1,006,286$1,369,074
65$1,789,288$1,151,650$1,004,814$1,427,564
66$1,935,505$1,171,790$1,002,184$1,490,401
67$2,095,492$1,191,774$998,324$1,558,015
68$2,270,619$1,211,558$993,154$1,630,879
69$2,462,393$1,231,094$986,595$1,709,518
70$2,672,473$1,250,334$978,562$1,794,509
71$2,902,687$1,269,222$968,966$1,886,491
72$3,155,048$1,287,701$957,713$1,986,170
73$3,431,773$1,305,708$944,706$2,094,324
74$3,735,303$1,323,177$929,843$2,211,814
75$4,068,328$1,340,037$913,018$2,339,588
76$4,433,811$1,356,212$894,117$2,478,696
77$4,835,014$1,371,621$873,024$2,630,295
78$5,275,532$1,386,177$849,617$2,795,662
79$5,759,324$1,399,787$823,767$2,976,208
80$6,290,752$1,412,354$795,340$3,173,492
81$6,874,621$1,423,772$764,196$3,389,231
82$7,516,225$1,433,928$730,189$3,625,324
83$8,221,394$1,442,705$693,164$3,883,864
84$8,996,554$1,449,975$652,963$4,167,163
85$9,848,782$1,455,604$609,417$4,477,771
86$10,785,877$1,459,447$562,351$4,818,505
87$11,816,429$1,461,354$511,583$5,192,469
88$12,949,906$1,461,161$456,922$5,603,092
89$14,196,735$1,458,696$398,168$6,054,157
90$15,568,408$1,453,779$335,113$6,549,836
91$17,077,586$1,446,214$267,539$7,094,733
92$18,738,217$1,435,795$195,219$7,693,929
93$20,565,672$1,422,307$117,916$8,353,027
94$22,576,887$1,405,516$35,382$9,078,209
95$24,790,521$1,385,178$0$9,876,295
96$27,227,136$1,361,033$0$10,768,865
97$29,909,387$1,332,807$0$11,761,145
98$32,862,237$1,300,208$0$12,852,915
99$36,113,195$1,262,927$0$14,054,348
100$39,692,569$1,220,638$0$15,376,659