Can I retire at age 58 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$79,193$78,488$77,800$77,128$76,472$75,926
2 years$39,205$38,474$37,767$37,081$36,415$35,865
3 years$25,877$25,143$24,438$23,758$23,103$22,566
4 years$19,214$18,483$17,784$17,116$16,477$15,956
5 years$15,218$14,491$13,801$13,147$12,526$12,023
6 years$12,554$11,833$11,154$10,514$9,911$9,427
7 years$10,652$9,937$9,269$8,644$8,061$7,595
8 years$9,227$8,518$7,861$7,251$6,687$6,241
9 years$8,119$7,417$6,770$6,176$5,631$5,204
10 years$7,232$6,537$5,903$5,324$4,798$4,390
11 years$6,508$5,820$5,196$4,634$4,127$3,737
12 years$5,905$5,224$4,612$4,064$3,576$3,204
13 years$5,395$4,721$4,120$3,588$3,118$2,764
14 years$4,958$4,291$3,702$3,185$2,734$2,396
15 years$4,579$3,920$3,342$2,841$2,407$2,086
16 years$4,249$3,596$3,030$2,543$2,127$1,823
17 years$3,957$3,312$2,758$2,285$1,886$1,598
18 years$3,698$3,061$2,517$2,059$1,677$1,404
19 years$3,467$2,836$2,304$1,861$1,495$1,236
20 years$3,259$2,636$2,115$1,685$1,335$1,091
21 years$3,071$2,455$1,945$1,530$1,195$964
22 years$2,901$2,292$1,793$1,391$1,071$854
23 years$2,745$2,143$1,655$1,267$961$757
24 years$2,603$2,008$1,531$1,155$864$671
25 years$2,472$1,885$1,418$1,055$778$596
26 years$2,352$1,771$1,315$965$700$530
27 years$2,241$1,667$1,221$883$631$472
28 years$2,137$1,571$1,135$809$570$420
29 years$2,041$1,482$1,056$742$515$374
30 years$1,952$1,399$984$681$465$333
31 years$1,869$1,323$917$625$420$297
32 years$1,791$1,252$856$575$380$265
33 years$1,717$1,185$799$528$344$237
34 years$1,649$1,124$747$486$312$211
35 years$1,584$1,066$698$448$282$189
36 years$1,523$1,011$653$412$256$169
37 years$1,466$961$611$380$232$151
38 years$1,411$913$572$350$210$135
39 years$1,360$868$536$323$190$120
40 years$1,311$826$503$298$173$108
41 years$1,265$786$471$275$157$96
42 years$1,221$749$442$254$142$86
43 years$1,179$713$415$234$129$77
44 years$1,139$680$389$216$117$69
45 years$1,102$649$366$200$106$62
46 years$1,065$619$343$184$97$55
47 years$1,031$590$323$170$88$49
48 years$998$564$303$157$80$44
49 years$966$538$285$145$72$39
50 years$936$514$268$134$66$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $959,000, adding $3,085 every year, while hoping to spend $52,857 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: 78/13/9 Blend
57$959,000$959,000$959,000$959,000
58$1,060,000$1,009,173$994,309$1,140,957
59$1,111,881$1,002,383$971,379$1,187,778
60$1,167,282$993,489$945,909$1,231,974
61$1,226,506$982,332$917,758$1,278,904
62$1,289,886$968,743$886,780$1,328,816
63$1,357,787$952,544$852,820$1,381,986
64$1,430,609$933,545$815,716$1,438,717
65$1,508,789$911,547$775,301$1,499,342
66$1,592,810$886,337$731,398$1,564,231
67$1,683,200$857,691$683,823$1,633,791
68$1,780,539$825,371$632,384$1,708,470
69$1,885,465$789,125$576,880$1,788,763
70$1,998,677$748,687$517,100$1,875,216
71$2,120,946$703,777$452,827$1,968,432
72$2,253,116$654,095$383,830$2,069,075
73$2,396,115$599,327$309,870$2,177,880
74$2,550,966$539,142$230,698$2,295,655
75$2,718,791$473,186$146,052$2,423,294
76$2,900,824$401,088$55,661$2,561,781
77$3,098,423$322,457$0$2,712,205
78$3,313,082$236,876$0$2,879,683
79$3,546,441$143,908$0$3,067,578
80$3,800,310$43,091$0$3,272,032
81$4,076,675$0$0$3,494,685
82$4,377,725$0$0$3,746,799
83$4,705,866$0$0$4,028,348
84$5,063,749$0$0$4,335,446
85$5,454,289$0$0$4,670,598
86$5,880,696$0$0$5,036,563
87$6,346,504$0$0$5,436,378
88$6,855,602$0$0$5,873,386
89$7,412,274$0$0$6,351,268
90$8,021,235$0$0$6,874,075
91$8,687,676$0$0$7,446,271
92$9,417,315$0$0$8,072,768
93$10,216,447$0$0$8,758,977
94$11,092,005$0$0$9,510,858
95$12,051,626$0$0$10,334,973
96$13,103,716$0$0$11,238,548
97$14,257,539$0$0$12,229,544
98$15,523,295$0$0$13,316,729
99$16,912,221$0$0$14,509,760
100$18,436,691$0$0$15,819,273