Can I retire at age 58 with 963,000?

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 $963,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$79,524$78,815$78,124$77,450$76,791$75,706
2 years$39,368$38,635$37,924$37,235$36,567$35,476
3 years$25,985$25,248$24,540$23,857$23,200$22,137
4 years$19,294$18,560$17,859$17,188$16,546$15,519
5 years$15,281$14,551$13,859$13,202$12,578$11,590
6 years$12,607$11,882$11,200$10,558$9,953$9,005
7 years$10,697$9,979$9,307$8,680$8,094$7,187
8 years$9,265$8,554$7,893$7,281$6,715$5,848
9 years$8,152$7,447$6,799$6,202$5,655$4,828
10 years$7,263$6,565$5,927$5,346$4,818$4,031
11 years$6,535$5,844$5,218$4,653$4,144$3,395
12 years$5,929$5,245$4,631$4,081$3,591$2,880
13 years$5,417$4,740$4,137$3,603$3,131$2,457
14 years$4,978$4,309$3,718$3,198$2,745$2,107
15 years$4,598$3,936$3,356$2,852$2,417$1,813
16 years$4,266$3,611$3,043$2,554$2,136$1,566
17 years$3,974$3,326$2,769$2,295$1,894$1,356
18 years$3,714$3,073$2,528$2,068$1,684$1,177
19 years$3,482$2,848$2,314$1,869$1,501$1,024
20 years$3,273$2,647$2,124$1,692$1,341$892
21 years$3,084$2,465$1,953$1,536$1,200$779
22 years$2,913$2,301$1,800$1,397$1,075$681
23 years$2,757$2,152$1,662$1,272$965$596
24 years$2,614$2,017$1,537$1,160$868$522
25 years$2,483$1,893$1,424$1,059$781$457
26 years$2,362$1,779$1,321$969$703$401
27 years$2,250$1,674$1,226$887$634$352
28 years$2,146$1,577$1,140$812$572$309
29 years$2,050$1,488$1,061$745$517$272
30 years$1,960$1,405$988$684$467$239
31 years$1,876$1,328$921$628$422$210
32 years$1,798$1,257$860$577$382$185
33 years$1,725$1,190$803$531$346$163
34 years$1,656$1,128$750$488$313$143
35 years$1,591$1,070$701$449$283$126
36 years$1,529$1,016$656$414$257$111
37 years$1,472$965$614$381$233$98
38 years$1,417$917$575$352$211$86
39 years$1,366$872$539$324$191$76
40 years$1,317$829$505$299$174$67
41 years$1,270$790$473$276$157$59
42 years$1,226$752$444$255$143$52
43 years$1,184$716$417$235$130$46
44 years$1,144$683$391$217$118$40
45 years$1,106$651$367$200$107$35
46 years$1,070$621$345$185$97$31
47 years$1,035$593$324$171$88$28
48 years$1,002$566$305$158$80$24
49 years$971$540$286$146$73$21
50 years$940$516$269$135$66$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $963,000, adding $5,142 every year, while hoping to spend $48,497 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: 55/32/13 Blend
57$963,000$963,000$963,000$963,000
58$1,066,530$1,015,491$1,000,564$1,121,331
59$1,123,716$1,013,650$982,483$1,157,276
60$1,185,109$1,010,093$962,170$1,190,687
61$1,251,087$1,004,685$939,501$1,225,943
62$1,322,066$997,282$914,342$1,263,230
63$1,398,501$987,733$886,557$1,302,755
64$1,480,893$975,876$856,000$1,344,747
65$1,569,790$961,540$822,522$1,389,462
66$1,665,796$944,544$785,965$1,437,183
67$1,769,576$924,695$746,164$1,488,228
68$1,881,859$901,791$702,946$1,542,946
69$2,003,445$875,616$656,131$1,601,726
70$2,135,217$845,941$605,532$1,665,003
71$2,278,143$812,526$550,951$1,733,254
72$2,433,289$775,116$492,184$1,807,014
73$2,601,828$733,440$429,015$1,886,874
74$2,785,049$687,212$361,221$1,973,489
75$2,984,370$636,132$288,568$2,067,586
76$3,201,351$579,878$210,811$2,169,972
77$3,437,711$518,114$127,696$2,281,540
78$3,695,340$450,484$38,955$2,403,279
79$3,976,316$376,609$0$2,536,288
80$4,282,929$296,092$0$2,689,513
81$4,617,700$208,512$0$2,862,837
82$4,983,401$113,425$0$3,052,383
83$5,383,086$10,361$0$3,259,843
84$5,820,118$0$0$3,487,089
85$6,298,198$0$0$3,771,814
86$6,821,402$0$0$4,087,494
87$7,394,217$0$0$4,433,198
88$8,021,585$0$0$4,811,920
89$8,708,950$0$0$5,226,958
90$9,462,305$0$0$5,681,943
91$10,288,250$0$0$6,180,874
92$11,194,057$0$0$6,728,156
93$12,187,733$0$0$7,328,642
94$13,278,099$0$0$7,987,674
95$14,474,869$0$0$8,711,141
96$15,788,745$0$0$9,505,526
97$17,231,516$0$0$10,377,972
98$18,816,167$0$0$11,336,349
99$20,557,005$0$0$12,389,324
100$22,469,788$0$0$13,546,449