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%14.8%
1 years$79,358$78,652$77,962$77,289$76,631$75,115
2 years$39,286$38,555$37,846$37,158$36,491$34,970
3 years$25,931$25,196$24,489$23,808$23,152$21,673
4 years$19,254$18,522$17,821$17,152$16,512$15,087
5 years$15,249$14,521$13,830$13,174$12,552$11,185
6 years$12,580$11,858$11,177$10,536$9,932$8,624
7 years$10,675$9,958$9,288$8,662$8,077$6,829
8 years$9,246$8,536$7,877$7,266$6,701$5,512
9 years$8,135$7,432$6,784$6,189$5,643$4,513
10 years$7,248$6,551$5,915$5,335$4,808$3,736
11 years$6,522$5,832$5,207$4,643$4,135$3,119
12 years$5,917$5,234$4,621$4,073$3,584$2,622
13 years$5,406$4,730$4,129$3,596$3,125$2,217
14 years$4,968$4,300$3,710$3,192$2,739$1,883
15 years$4,589$3,928$3,349$2,847$2,412$1,605
16 years$4,258$3,604$3,037$2,549$2,132$1,372
17 years$3,966$3,319$2,763$2,290$1,890$1,177
18 years$3,706$3,067$2,523$2,064$1,681$1,011
19 years$3,474$2,842$2,309$1,865$1,498$871
20 years$3,266$2,641$2,119$1,689$1,338$751
21 years$3,078$2,460$1,949$1,533$1,197$648
22 years$2,907$2,297$1,797$1,394$1,073$561
23 years$2,751$2,148$1,659$1,269$963$485
24 years$2,609$2,012$1,534$1,158$866$420
25 years$2,478$1,889$1,421$1,057$779$364
26 years$2,357$1,775$1,318$967$702$316
27 years$2,245$1,670$1,224$885$633$274
28 years$2,142$1,574$1,138$811$571$238
29 years$2,046$1,485$1,059$743$516$207
30 years$1,956$1,402$986$682$466$180
31 years$1,873$1,326$919$627$421$156
32 years$1,794$1,254$858$576$381$136
33 years$1,721$1,188$801$530$345$118
34 years$1,652$1,126$748$487$312$103
35 years$1,587$1,068$700$449$283$89
36 years$1,526$1,014$654$413$256$78
37 years$1,469$963$613$381$232$68
38 years$1,414$915$574$351$211$59
39 years$1,363$870$537$323$191$51
40 years$1,314$828$504$298$173$45
41 years$1,268$788$472$275$157$39
42 years$1,223$750$443$254$143$34
43 years$1,182$715$416$235$129$29
44 years$1,142$681$390$217$117$26
45 years$1,104$650$366$200$107$22
46 years$1,068$620$344$185$97$19
47 years$1,033$592$323$171$88$17
48 years$1,000$565$304$158$80$15
49 years$968$539$286$146$72$13
50 years$938$515$269$135$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $961,000, adding $3,523 every year, while hoping to spend $51,821 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: 51/31/18 Blend
57$961,000$961,000$961,000$961,000
58$1,062,656$1,011,723$996,827$1,111,410
59$1,115,910$1,006,160$975,084$1,139,790
60$1,172,859$998,588$950,875$1,164,958
61$1,233,825$988,853$924,064$1,191,200
62$1,299,161$976,794$894,507$1,218,635
63$1,369,256$962,237$862,053$1,247,399
64$1,444,534$945,001$826,546$1,277,640
65$1,525,463$924,892$787,822$1,309,529
66$1,612,554$901,706$745,708$1,343,255
67$1,706,371$875,225$700,025$1,379,030
68$1,807,531$845,221$650,586$1,417,093
69$1,916,713$811,451$597,194$1,457,709
70$2,034,663$773,658$539,646$1,501,178
71$2,162,202$731,570$477,727$1,547,830
72$2,300,229$684,900$411,214$1,598,039
73$2,449,736$633,343$339,873$1,652,218
74$2,611,811$576,580$263,461$1,710,830
75$2,787,653$514,269$181,724$1,774,391
76$2,978,577$446,052$94,395$1,843,474
77$3,186,034$371,550$1,199$1,918,719
78$3,411,615$290,362$0$2,000,839
79$3,657,075$202,065$0$2,109,495
80$3,924,343$106,212$0$2,228,170
81$4,215,540$2,331$0$2,357,672
82$4,533,003$0$0$2,499,151
83$4,879,303$0$0$2,691,431
84$5,257,270$0$0$2,902,255
85$5,670,018$0$0$3,132,576
86$6,120,976$0$0$3,384,320
87$6,613,919$0$0$3,659,606
88$7,153,004$0$0$3,960,770
89$7,742,806$0$0$4,290,380
90$8,388,364$0$0$4,651,268
91$9,095,226$0$0$5,046,549
92$9,869,502$0$0$5,479,656
93$10,717,922$0$0$5,954,367
94$11,647,895$0$0$6,474,847
95$12,667,582$0$0$7,045,680
96$13,785,973$0$0$7,671,914
97$15,012,968$0$0$8,359,114
98$16,359,473$0$0$9,113,404
99$17,837,499$0$0$9,941,535
100$19,460,279$0$0$10,850,940