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%18.3%
1 years$79,028$78,324$77,637$76,967$76,313$73,752
2 years$39,123$38,394$37,688$37,003$36,339$33,785
3 years$25,823$25,091$24,387$23,708$23,055$20,587
4 years$19,174$18,445$17,747$17,081$16,443$14,080
5 years$15,186$14,461$13,773$13,120$12,500$10,248
6 years$12,528$11,808$11,130$10,492$9,891$7,752
7 years$10,630$9,917$9,249$8,626$8,044$6,018
8 years$9,208$8,500$7,844$7,236$6,673$4,759
9 years$8,102$7,401$6,756$6,164$5,620$3,815
10 years$7,217$6,524$5,890$5,313$4,788$3,090
11 years$6,494$5,808$5,186$4,624$4,118$2,522
12 years$5,892$5,213$4,602$4,056$3,569$2,072
13 years$5,383$4,711$4,112$3,581$3,112$1,711
14 years$4,947$4,282$3,694$3,178$2,728$1,419
15 years$4,570$3,912$3,336$2,835$2,402$1,180
16 years$4,240$3,589$3,024$2,538$2,123$984
17 years$3,949$3,305$2,752$2,280$1,882$823
18 years$3,691$3,054$2,512$2,055$1,674$689
19 years$3,460$2,831$2,300$1,857$1,492$578
20 years$3,253$2,630$2,111$1,682$1,332$485
21 years$3,065$2,450$1,941$1,526$1,192$408
22 years$2,895$2,287$1,789$1,388$1,069$343
23 years$2,740$2,139$1,652$1,264$959$289
24 years$2,598$2,004$1,528$1,153$862$243
25 years$2,467$1,881$1,415$1,053$776$205
26 years$2,347$1,768$1,312$963$699$173
27 years$2,236$1,663$1,219$881$630$146
28 years$2,133$1,568$1,133$807$569$123
29 years$2,037$1,479$1,054$740$513$104
30 years$1,948$1,397$982$679$464$88
31 years$1,865$1,320$916$624$419$74
32 years$1,787$1,249$854$573$379$63
33 years$1,714$1,183$798$527$343$53
34 years$1,645$1,121$745$485$311$45
35 years$1,581$1,063$697$447$282$38
36 years$1,520$1,009$652$411$255$32
37 years$1,463$959$610$379$231$27
38 years$1,408$911$571$349$210$23
39 years$1,357$866$535$322$190$19
40 years$1,308$824$502$297$172$16
41 years$1,262$785$470$274$156$14
42 years$1,218$747$441$253$142$12
43 years$1,177$712$414$234$129$10
44 years$1,137$679$389$216$117$8
45 years$1,099$647$365$199$106$7
46 years$1,063$617$343$184$96$6
47 years$1,029$589$322$170$88$5
48 years$996$562$303$157$79$4
49 years$964$537$284$145$72$4
50 years$934$513$267$134$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $957,000, adding $5,114 every year, while hoping to spend $39,197 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: 37/45/18 Blend
57$957,000$957,000$957,000$957,000
58$1,059,889$1,009,168$994,335$1,093,166
59$1,126,292$1,016,912$985,939$1,125,427
60$1,198,155$1,023,722$975,949$1,156,171
61$1,275,993$1,029,510$964,270$1,188,557
62$1,360,372$1,034,184$950,801$1,222,755
63$1,451,917$1,037,645$935,439$1,258,952
64$1,551,311$1,039,789$918,075$1,297,359
65$1,659,310$1,040,504$898,596$1,338,209
66$1,776,742$1,039,671$876,881$1,381,762
67$1,904,520$1,037,165$852,807$1,428,309
68$2,043,648$1,032,853$826,243$1,478,170
69$2,195,230$1,026,593$797,052$1,531,705
70$2,360,482$1,018,234$765,091$1,589,311
71$2,540,742$1,007,618$730,213$1,651,432
72$2,737,482$994,576$692,260$1,718,560
73$2,952,324$978,929$651,069$1,791,240
74$3,187,051$960,487$606,470$1,870,079
75$3,443,629$939,050$558,286$1,955,750
76$3,724,220$914,404$506,329$2,049,001
77$4,031,206$886,325$450,406$2,150,660
78$4,367,208$854,574$390,314$2,261,646
79$4,735,114$818,899$325,841$2,382,977
80$5,138,104$779,034$256,765$2,515,784
81$5,579,679$734,695$182,855$2,661,318
82$6,063,696$685,584$103,870$2,820,966
83$6,594,401$631,386$19,558$2,996,264
84$7,176,473$571,767$0$3,188,912
85$7,815,064$506,374$0$3,414,319
86$8,515,849$434,834$0$3,665,933
87$9,285,078$356,754$0$3,942,356
88$10,129,638$271,718$0$4,246,199
89$11,057,115$179,285$0$4,580,347
90$12,075,862$78,991$0$4,947,988
91$13,195,086$0$0$5,352,642
92$14,424,927$0$0$5,812,883
93$15,776,555$0$0$6,361,831
94$17,262,279$0$0$6,965,386
95$18,895,656$0$0$7,629,076
96$20,691,626$0$0$8,358,988
97$22,666,646$0$0$9,161,832
98$24,838,849$0$0$10,044,997
99$27,228,213$0$0$11,016,629
100$29,856,750$0$0$12,085,698