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%12%
1 years$79,524$78,815$78,124$77,450$76,791$76,148
2 years$39,368$38,635$37,924$37,235$36,567$35,919
3 years$25,985$25,248$24,540$23,857$23,200$22,566
4 years$19,294$18,560$17,859$17,188$16,546$15,933
5 years$15,281$14,551$13,859$13,202$12,578$11,986
6 years$12,607$11,882$11,200$10,558$9,953$9,383
7 years$10,697$9,979$9,307$8,680$8,094$7,548
8 years$9,265$8,554$7,893$7,281$6,715$6,191
9 years$8,152$7,447$6,799$6,202$5,655$5,154
10 years$7,263$6,565$5,927$5,346$4,818$4,339
11 years$6,535$5,844$5,218$4,653$4,144$3,687
12 years$5,929$5,245$4,631$4,081$3,591$3,155
13 years$5,417$4,740$4,137$3,603$3,131$2,717
14 years$4,978$4,309$3,718$3,198$2,745$2,351
15 years$4,598$3,936$3,356$2,852$2,417$2,043
16 years$4,266$3,611$3,043$2,554$2,136$1,781
17 years$3,974$3,326$2,769$2,295$1,894$1,558
18 years$3,714$3,073$2,528$2,068$1,684$1,366
19 years$3,482$2,848$2,314$1,869$1,501$1,200
20 years$3,273$2,647$2,124$1,692$1,341$1,057
21 years$3,084$2,465$1,953$1,536$1,200$932
22 years$2,913$2,301$1,800$1,397$1,075$823
23 years$2,757$2,152$1,662$1,272$965$728
24 years$2,614$2,017$1,537$1,160$868$644
25 years$2,483$1,893$1,424$1,059$781$571
26 years$2,362$1,779$1,321$969$703$507
27 years$2,250$1,674$1,226$887$634$450
28 years$2,146$1,577$1,140$812$572$399
29 years$2,050$1,488$1,061$745$517$355
30 years$1,960$1,405$988$684$467$316
31 years$1,876$1,328$921$628$422$281
32 years$1,798$1,257$860$577$382$250
33 years$1,725$1,190$803$531$346$222
34 years$1,656$1,128$750$488$313$198
35 years$1,591$1,070$701$449$283$176
36 years$1,529$1,016$656$414$257$157
37 years$1,472$965$614$381$233$140
38 years$1,417$917$575$352$211$125
39 years$1,366$872$539$324$191$111
40 years$1,317$829$505$299$174$99
41 years$1,270$790$473$276$157$89
42 years$1,226$752$444$255$143$79
43 years$1,184$716$417$235$130$70
44 years$1,144$683$391$217$118$63
45 years$1,106$651$367$200$107$56
46 years$1,070$621$345$185$97$50
47 years$1,035$593$324$171$88$45
48 years$1,002$566$305$158$80$40
49 years$971$540$286$146$73$36
50 years$940$516$269$135$66$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $963,000, adding $2,017 every year, while hoping to spend $42,111 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: 79/14/7 Blend
57$963,000$963,000$963,000$963,000
58$1,063,307$1,012,268$997,341$1,146,321
59$1,126,958$1,017,063$985,946$1,205,824
60$1,195,691$1,020,682$972,758$1,265,365
61$1,269,978$1,023,022$957,673$1,329,422
62$1,350,341$1,023,976$940,580$1,398,422
63$1,437,352$1,023,427$921,366$1,472,841
64$1,531,641$1,021,253$899,910$1,553,199
65$1,633,898$1,017,325$876,087$1,640,070
66$1,744,886$1,011,504$849,767$1,734,087
67$1,865,441$1,003,645$820,810$1,835,948
68$1,996,484$993,591$789,076$1,946,422
69$2,139,028$981,179$754,412$2,066,354
70$2,294,186$966,234$716,662$2,196,679
71$2,463,185$948,572$675,662$2,338,425
72$2,647,375$927,997$631,242$2,492,725
73$2,848,239$904,301$583,221$2,660,829
74$3,067,413$877,265$531,412$2,844,115
75$3,306,696$846,657$475,620$3,044,100
76$3,568,067$812,231$415,642$3,262,457
77$3,853,706$773,727$351,262$3,501,032
78$4,166,014$730,870$282,260$3,761,856
79$4,507,633$683,369$208,401$4,047,172
80$4,881,474$630,915$129,444$4,359,450
81$5,290,738$573,184$45,135$4,701,413
82$5,738,956$509,833$0$5,076,063
83$6,230,011$440,496$0$5,490,059
84$6,768,183$364,791$0$5,947,515
85$7,358,184$282,312$0$6,449,098
86$8,005,203$192,630$0$6,999,265
87$8,714,958$95,294$0$7,602,925
88$9,493,745$0$0$8,265,491
89$10,348,498$0$0$8,994,493
90$11,286,858$0$0$9,810,946
91$12,317,239$0$0$10,707,498
92$13,448,911$0$0$11,692,216
93$14,692,086$0$0$12,773,991
94$16,058,014$0$0$13,962,616
95$17,559,087$0$0$15,268,879
96$19,208,959$0$0$16,704,667
97$21,022,671$0$0$18,283,074
98$23,016,796$0$0$20,018,525
99$25,209,591$0$0$21,926,916
100$27,621,171$0$0$24,025,758