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%14%
1 years$79,193$78,488$77,800$77,128$76,472$75,205
2 years$39,205$38,474$37,767$37,081$36,415$35,143
3 years$25,877$25,143$24,438$23,758$23,103$21,865
4 years$19,214$18,483$17,784$17,116$16,477$15,282
5 years$15,218$14,491$13,801$13,147$12,526$11,377
6 years$12,554$11,833$11,154$10,514$9,911$8,811
7 years$10,652$9,937$9,269$8,644$8,061$7,009
8 years$9,227$8,518$7,861$7,251$6,687$5,683
9 years$8,119$7,417$6,770$6,176$5,631$4,675
10 years$7,232$6,537$5,903$5,324$4,798$3,889
11 years$6,508$5,820$5,196$4,634$4,127$3,263
12 years$5,905$5,224$4,612$4,064$3,576$2,758
13 years$5,395$4,721$4,120$3,588$3,118$2,344
14 years$4,958$4,291$3,702$3,185$2,734$2,001
15 years$4,579$3,920$3,342$2,841$2,407$1,715
16 years$4,249$3,596$3,030$2,543$2,127$1,475
17 years$3,957$3,312$2,758$2,285$1,886$1,272
18 years$3,698$3,061$2,517$2,059$1,677$1,100
19 years$3,467$2,836$2,304$1,861$1,495$952
20 years$3,259$2,636$2,115$1,685$1,335$826
21 years$3,071$2,455$1,945$1,530$1,195$718
22 years$2,901$2,292$1,793$1,391$1,071$624
23 years$2,745$2,143$1,655$1,267$961$544
24 years$2,603$2,008$1,531$1,155$864$474
25 years$2,472$1,885$1,418$1,055$778$414
26 years$2,352$1,771$1,315$965$700$361
27 years$2,241$1,667$1,221$883$631$315
28 years$2,137$1,571$1,135$809$570$276
29 years$2,041$1,482$1,056$742$515$241
30 years$1,952$1,399$984$681$465$211
31 years$1,869$1,323$917$625$420$184
32 years$1,791$1,252$856$575$380$161
33 years$1,717$1,185$799$528$344$141
34 years$1,649$1,124$747$486$312$124
35 years$1,584$1,066$698$448$282$108
36 years$1,523$1,011$653$412$256$95
37 years$1,466$961$611$380$232$83
38 years$1,411$913$572$350$210$73
39 years$1,360$868$536$323$190$64
40 years$1,311$826$503$298$173$56
41 years$1,265$786$471$275$157$49
42 years$1,221$749$442$254$142$43
43 years$1,179$713$415$234$129$38
44 years$1,139$680$389$216$117$33
45 years$1,102$649$366$200$106$29
46 years$1,065$619$343$184$97$25
47 years$1,031$590$323$170$88$22
48 years$998$564$303$157$80$20
49 years$966$538$285$145$72$17
50 years$936$514$268$134$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $959,000, adding $4,174 every year, while hoping to spend $37,079 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: 51/19/30 Blend
57$959,000$959,000$959,000$959,000
58$1,061,123$1,010,296$995,432$1,106,061
59$1,129,906$1,020,349$989,327$1,147,953
60$1,204,462$1,029,652$981,775$1,189,456
61$1,285,341$1,038,128$972,688$1,233,875
62$1,373,147$1,045,698$961,975$1,281,505
63$1,468,546$1,052,275$949,538$1,332,673
64$1,572,268$1,057,767$935,278$1,387,741
65$1,685,119$1,062,077$919,090$1,447,109
66$1,807,983$1,065,101$900,862$1,511,219
67$1,941,836$1,066,729$880,479$1,580,562
68$2,087,749$1,066,845$857,821$1,655,680
69$2,246,902$1,065,323$832,761$1,737,171
70$2,420,595$1,062,032$805,166$1,825,699
71$2,610,256$1,056,832$774,900$1,921,997
72$2,817,459$1,049,574$741,816$2,026,874
73$3,043,937$1,040,101$705,765$2,141,226
74$3,291,598$1,028,245$666,587$2,266,043
75$3,562,541$1,013,829$624,117$2,402,418
76$3,859,079$996,666$578,184$2,551,562
77$4,183,758$976,556$528,607$2,714,809
78$4,539,383$953,288$475,197$2,893,635
79$4,929,042$926,641$417,757$3,089,671
80$5,356,135$896,377$356,083$3,304,716
81$5,824,408$862,246$289,958$3,540,761
82$6,337,985$823,985$219,160$3,800,001
83$6,901,412$781,312$143,455$4,084,861
84$7,519,692$733,933$62,596$4,398,020
85$8,198,339$681,533$0$4,742,436
86$8,943,424$623,783$0$5,128,955
87$9,761,636$560,331$0$5,575,476
88$10,660,345$490,809$0$6,066,005
89$11,647,667$414,826$0$6,605,026
90$12,732,545$331,968$0$7,197,483
91$13,924,830$241,801$0$7,848,824
92$15,235,376$143,862$0$8,565,056
93$16,676,139$37,666$0$9,352,802
94$18,260,293$0$0$10,219,363
95$20,002,350$0$0$11,188,948
96$21,918,302$0$0$12,264,089
97$24,025,766$0$0$13,446,811
98$26,344,153$0$0$14,748,022
99$28,894,850$0$0$16,179,740
100$31,701,422$0$0$17,755,208