Can I retire at age 58 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$79,358$78,652$77,962$77,289$76,631$74,931
2 years$39,286$38,555$37,846$37,158$36,491$34,787
3 years$25,931$25,196$24,489$23,808$23,152$21,497
4 years$19,254$18,522$17,821$17,152$16,512$14,919
5 years$15,249$14,521$13,830$13,174$12,552$11,026
6 years$12,580$11,858$11,177$10,536$9,932$8,474
7 years$10,675$9,958$9,288$8,662$8,077$6,688
8 years$9,246$8,536$7,877$7,266$6,701$5,379
9 years$8,135$7,432$6,784$6,189$5,643$4,388
10 years$7,248$6,551$5,915$5,335$4,808$3,619
11 years$6,522$5,832$5,207$4,643$4,135$3,010
12 years$5,917$5,234$4,621$4,073$3,584$2,521
13 years$5,406$4,730$4,129$3,596$3,125$2,122
14 years$4,968$4,300$3,710$3,192$2,739$1,795
15 years$4,589$3,928$3,349$2,847$2,412$1,524
16 years$4,258$3,604$3,037$2,549$2,132$1,298
17 years$3,966$3,319$2,763$2,290$1,890$1,108
18 years$3,706$3,067$2,523$2,064$1,681$948
19 years$3,474$2,842$2,309$1,865$1,498$813
20 years$3,266$2,641$2,119$1,689$1,338$698
21 years$3,078$2,460$1,949$1,533$1,197$600
22 years$2,907$2,297$1,797$1,394$1,073$516
23 years$2,751$2,148$1,659$1,269$963$444
24 years$2,609$2,012$1,534$1,158$866$383
25 years$2,478$1,889$1,421$1,057$779$331
26 years$2,357$1,775$1,318$967$702$285
27 years$2,245$1,670$1,224$885$633$246
28 years$2,142$1,574$1,138$811$571$213
29 years$2,046$1,485$1,059$743$516$184
30 years$1,956$1,402$986$682$466$159
31 years$1,873$1,326$919$627$421$138
32 years$1,794$1,254$858$576$381$119
33 years$1,721$1,188$801$530$345$103
34 years$1,652$1,126$748$487$312$89
35 years$1,587$1,068$700$449$283$77
36 years$1,526$1,014$654$413$256$67
37 years$1,469$963$613$381$232$58
38 years$1,414$915$574$351$211$50
39 years$1,363$870$537$323$191$43
40 years$1,314$828$504$298$173$38
41 years$1,268$788$472$275$157$33
42 years$1,223$750$443$254$143$28
43 years$1,182$715$416$235$129$24
44 years$1,142$681$390$217$117$21
45 years$1,104$650$366$200$107$18
46 years$1,068$620$344$185$97$16
47 years$1,033$592$323$171$88$14
48 years$1,000$565$304$158$80$12
49 years$968$539$286$146$72$10
50 years$938$515$269$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $961,000, adding $2,758 every year, while hoping to spend $41,687 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: 67/13/20 Blend
57$961,000$961,000$961,000$961,000
58$1,061,867$1,010,934$996,038$1,127,529
59$1,125,823$1,016,115$985,051$1,177,028
60$1,194,905$1,020,153$972,298$1,226,063
61$1,269,592$1,022,947$957,677$1,278,684
62$1,350,411$1,024,392$941,080$1,335,243
63$1,437,940$1,024,374$922,393$1,396,129
64$1,532,815$1,022,774$901,499$1,461,771
65$1,635,736$1,019,464$878,273$1,532,642
66$1,747,472$1,014,308$852,586$1,609,265
67$1,868,869$1,007,164$824,302$1,692,219
68$2,000,858$997,880$793,281$1,782,139
69$2,144,462$986,293$759,373$1,879,729
70$2,300,810$972,233$722,424$1,985,767
71$2,471,139$955,520$682,272$2,101,110
72$2,656,815$935,960$638,748$2,226,703
73$2,859,339$913,351$591,674$2,363,591
74$3,080,363$887,477$540,867$2,512,928
75$3,321,707$858,110$486,134$2,675,985
76$3,585,374$825,010$427,271$2,854,166
77$3,873,567$787,920$364,070$3,049,022
78$4,188,714$746,572$296,310$3,262,262
79$4,533,488$700,679$223,761$3,495,773
80$4,910,830$649,939$146,184$3,751,636
81$5,323,982$594,033$63,328$4,032,151
82$5,776,511$532,623$0$4,339,850
83$6,272,346$465,353$0$4,682,886
84$6,815,816$391,845$0$5,073,759
85$7,411,686$311,702$0$5,502,404
86$8,065,205$224,503$0$5,972,640
87$8,782,155$129,803$0$6,488,675
88$9,568,905$27,133$0$7,055,145
89$10,432,468$0$0$7,677,163
90$11,380,573$0$0$8,372,378
91$12,421,730$0$0$9,140,149
92$13,565,315$0$0$9,983,518
93$14,821,659$0$0$10,910,109
94$16,202,138$0$0$11,928,323
95$17,719,290$0$0$13,047,415
96$19,386,924$0$0$14,277,579
97$21,220,255$0$0$15,630,049
98$23,236,046$0$0$17,117,200
99$25,452,764$0$0$18,752,666
100$27,890,756$0$0$20,551,469