Can I retire at age 58 with 958,000?

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 $958,000?

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$79,111$78,406$77,719$77,048$76,392$74,245
2 years$39,164$38,434$37,727$37,042$36,377$34,230
3 years$25,850$25,117$24,412$23,733$23,079$20,999
4 years$19,194$18,464$17,766$17,098$16,460$14,464
5 years$15,202$14,476$13,787$13,133$12,513$10,606
6 years$12,541$11,821$11,142$10,503$9,901$8,084
7 years$10,641$9,927$9,259$8,635$8,052$6,326
8 years$9,217$8,509$7,852$7,244$6,680$5,044
9 years$8,110$7,409$6,763$6,170$5,626$4,078
10 years$7,225$6,531$5,896$5,319$4,793$3,332
11 years$6,501$5,814$5,191$4,629$4,122$2,745
12 years$5,898$5,218$4,607$4,060$3,572$2,276
13 years$5,389$4,716$4,116$3,584$3,115$1,897
14 years$4,952$4,286$3,698$3,182$2,731$1,588
15 years$4,575$3,916$3,339$2,838$2,404$1,334
16 years$4,244$3,593$3,027$2,541$2,125$1,124
17 years$3,953$3,309$2,755$2,283$1,884$949
18 years$3,695$3,057$2,515$2,057$1,675$803
19 years$3,464$2,833$2,302$1,859$1,493$681
20 years$3,256$2,633$2,113$1,684$1,334$578
21 years$3,068$2,453$1,943$1,528$1,194$491
22 years$2,898$2,289$1,791$1,389$1,070$418
23 years$2,743$2,141$1,654$1,265$960$356
24 years$2,600$2,006$1,529$1,154$863$303
25 years$2,470$1,883$1,417$1,054$777$258
26 years$2,350$1,769$1,314$964$700$220
27 years$2,238$1,665$1,220$882$631$188
28 years$2,135$1,569$1,134$808$569$160
29 years$2,039$1,480$1,055$741$514$137
30 years$1,950$1,398$983$680$464$117
31 years$1,867$1,322$916$625$420$100
32 years$1,789$1,250$855$574$380$85
33 years$1,716$1,184$798$528$344$73
34 years$1,647$1,122$746$486$311$62
35 years$1,582$1,065$697$447$282$53
36 years$1,522$1,010$652$412$255$46
37 years$1,464$960$611$379$231$39
38 years$1,410$912$572$350$210$33
39 years$1,358$867$536$322$190$28
40 years$1,310$825$502$297$173$24
41 years$1,264$785$471$274$157$21
42 years$1,220$748$442$253$142$18
43 years$1,178$713$414$234$129$15
44 years$1,138$679$389$216$117$13
45 years$1,100$648$365$199$106$11
46 years$1,064$618$343$184$96$10
47 years$1,030$590$322$170$88$8
48 years$997$563$303$157$80$7
49 years$965$538$285$145$72$6
50 years$935$514$268$134$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $958,000, adding $3,695 every year, while hoping to spend $44,852 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: 59/19/22 Blend
57$958,000$958,000$958,000$958,000
58$1,059,527$1,008,753$993,904$1,115,629
59$1,119,877$1,010,460$979,478$1,155,888
60$1,184,879$1,010,747$963,065$1,194,592
61$1,254,961$1,009,498$944,552$1,235,819
62$1,330,591$1,006,588$923,819$1,279,821
63$1,412,286$1,001,885$900,741$1,326,880
64$1,500,612$995,251$875,189$1,377,306
65$1,596,192$986,535$847,025$1,431,445
66$1,699,711$975,582$816,108$1,489,677
67$1,811,920$962,225$782,286$1,552,425
68$1,933,649$946,286$745,405$1,620,156
69$2,065,806$927,580$705,302$1,693,388
70$2,209,393$905,906$661,805$1,772,693
71$2,365,513$881,057$614,736$1,858,707
72$2,535,375$852,809$563,910$1,952,129
73$2,720,313$820,926$509,131$2,053,735
74$2,921,795$785,161$450,196$2,164,385
75$3,141,434$745,250$386,894$2,285,026
76$3,381,007$700,914$319,001$2,416,708
77$3,642,469$651,859$246,288$2,560,591
78$3,927,974$597,773$168,511$2,717,959
79$4,239,890$538,327$85,420$2,890,228
80$4,580,827$473,172$0$3,078,966
81$4,953,656$401,942$0$3,286,669
82$5,361,539$324,248$0$3,535,933
83$5,807,959$239,679$0$3,808,869
84$6,296,749$147,801$0$4,107,882
85$6,832,131$48,158$0$4,435,626
86$7,418,756$0$0$4,795,027
87$8,061,743$0$0$5,201,801
88$8,766,733$0$0$5,658,918
89$9,539,936$0$0$6,160,346
90$10,388,195$0$0$6,710,534
91$11,319,044$0$0$7,314,378
92$12,340,784$0$0$7,977,274
93$13,462,559$0$0$8,705,166
94$14,694,440$0$0$9,504,601
95$16,047,521$0$0$10,382,790
96$17,534,026$0$0$11,347,680
97$19,167,418$0$0$12,408,022
98$20,962,531$0$0$13,573,460
99$22,935,707$0$0$14,854,617
100$25,104,950$0$0$16,263,197