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%11.9%
1 years$79,193$78,488$77,800$77,128$76,472$75,863
2 years$39,205$38,474$37,767$37,081$36,415$35,801
3 years$25,877$25,143$24,438$23,758$23,103$22,504
4 years$19,214$18,483$17,784$17,116$16,477$15,896
5 years$15,218$14,491$13,801$13,147$12,526$11,965
6 years$12,554$11,833$11,154$10,514$9,911$9,372
7 years$10,652$9,937$9,269$8,644$8,061$7,543
8 years$9,227$8,518$7,861$7,251$6,687$6,190
9 years$8,119$7,417$6,770$6,176$5,631$5,156
10 years$7,232$6,537$5,903$5,324$4,798$4,344
11 years$6,508$5,820$5,196$4,634$4,127$3,693
12 years$5,905$5,224$4,612$4,064$3,576$3,163
13 years$5,395$4,721$4,120$3,588$3,118$2,725
14 years$4,958$4,291$3,702$3,185$2,734$2,359
15 years$4,579$3,920$3,342$2,841$2,407$2,051
16 years$4,249$3,596$3,030$2,543$2,127$1,790
17 years$3,957$3,312$2,758$2,285$1,886$1,567
18 years$3,698$3,061$2,517$2,059$1,677$1,375
19 years$3,467$2,836$2,304$1,861$1,495$1,209
20 years$3,259$2,636$2,115$1,685$1,335$1,065
21 years$3,071$2,455$1,945$1,530$1,195$940
22 years$2,901$2,292$1,793$1,391$1,071$831
23 years$2,745$2,143$1,655$1,267$961$735
24 years$2,603$2,008$1,531$1,155$864$652
25 years$2,472$1,885$1,418$1,055$778$578
26 years$2,352$1,771$1,315$965$700$513
27 years$2,241$1,667$1,221$883$631$456
28 years$2,137$1,571$1,135$809$570$405
29 years$2,041$1,482$1,056$742$515$360
30 years$1,952$1,399$984$681$465$320
31 years$1,869$1,323$917$625$420$285
32 years$1,791$1,252$856$575$380$254
33 years$1,717$1,185$799$528$344$226
34 years$1,649$1,124$747$486$312$202
35 years$1,584$1,066$698$448$282$180
36 years$1,523$1,011$653$412$256$160
37 years$1,466$961$611$380$232$143
38 years$1,411$913$572$350$210$128
39 years$1,360$868$536$323$190$114
40 years$1,311$826$503$298$173$102
41 years$1,265$786$471$275$157$91
42 years$1,221$749$442$254$142$81
43 years$1,179$713$415$234$129$72
44 years$1,139$680$389$216$117$65
45 years$1,102$649$366$200$106$58
46 years$1,065$619$343$184$97$52
47 years$1,031$590$323$170$88$46
48 years$998$564$303$157$80$41
49 years$966$538$285$145$72$37
50 years$936$514$268$134$66$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $959,000, adding $5,070 every year, while hoping to spend $36,171 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: 72/6/22 Blend
57$959,000$959,000$959,000$959,000
58$1,062,048$1,011,221$996,356$1,132,421
59$1,131,891$1,022,285$991,248$1,191,033
60$1,207,646$1,032,679$984,757$1,250,420
61$1,289,877$1,042,332$976,798$1,314,569
62$1,379,206$1,051,168$967,283$1,383,947
63$1,476,317$1,059,106$956,118$1,459,070
64$1,581,960$1,066,061$943,207$1,540,509
65$1,696,963$1,071,941$928,447$1,628,889
66$1,822,236$1,076,649$911,733$1,724,904
67$1,958,780$1,080,081$892,953$1,829,316
68$2,107,699$1,082,128$871,989$1,942,967
69$2,270,204$1,082,673$848,721$2,066,783
70$2,447,633$1,081,591$823,021$2,201,789
71$2,641,453$1,078,751$794,754$2,349,111
72$2,853,284$1,074,013$763,781$2,509,993
73$3,084,908$1,067,228$729,957$2,685,807
74$3,338,286$1,058,240$693,128$2,878,064
75$3,615,578$1,046,881$653,134$3,088,432
76$3,919,163$1,032,974$609,810$3,318,750
77$4,251,660$1,016,331$562,981$3,571,042
78$4,615,952$996,754$512,464$3,847,546
79$5,015,217$974,033$458,069$4,150,724
80$5,452,953$947,945$399,598$4,483,293
81$5,933,012$918,252$336,843$4,848,249
82$6,459,639$884,706$269,587$5,248,893
83$7,037,508$847,043$197,604$5,688,868
84$7,671,768$804,982$120,658$6,172,186
85$8,368,090$758,228$38,501$6,703,274
86$9,132,722$706,467$0$7,287,009
87$9,972,545$649,370$0$7,940,316
88$10,895,141$586,586$0$8,667,974
89$11,908,862$517,745$0$9,467,540
90$13,022,909$442,457$0$10,346,289
91$14,247,418$360,310$0$11,312,237
92$15,593,556$270,866$0$12,374,218
93$17,073,626$173,666$0$13,541,963
94$18,701,184$68,224$0$14,826,196
95$20,491,164$0$0$16,238,734
96$22,460,018$0$0$17,795,633
97$24,625,877$0$0$19,513,323
98$27,008,713$0$0$21,403,147
99$29,630,536$0$0$23,482,566
100$32,515,592$0$0$25,770,820