Can I retire at age 58 with 963,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13.2%
1 years$79,524$78,815$78,124$77,450$76,791$75,769
2 years$39,368$38,635$37,924$37,235$36,567$35,539
3 years$25,985$25,248$24,540$23,857$23,200$22,197
4 years$19,294$18,560$17,859$17,188$16,546$15,577
5 years$15,281$14,551$13,859$13,202$12,578$11,646
6 years$12,607$11,882$11,200$10,558$9,953$9,058
7 years$10,697$9,979$9,307$8,680$8,094$7,237
8 years$9,265$8,554$7,893$7,281$6,715$5,896
9 years$8,152$7,447$6,799$6,202$5,655$4,873
10 years$7,263$6,565$5,927$5,346$4,818$4,074
11 years$6,535$5,844$5,218$4,653$4,144$3,436
12 years$5,929$5,245$4,631$4,081$3,591$2,918
13 years$5,417$4,740$4,137$3,603$3,131$2,493
14 years$4,978$4,309$3,718$3,198$2,745$2,140
15 years$4,598$3,936$3,356$2,852$2,417$1,844
16 years$4,266$3,611$3,043$2,554$2,136$1,595
17 years$3,974$3,326$2,769$2,295$1,894$1,383
18 years$3,714$3,073$2,528$2,068$1,684$1,203
19 years$3,482$2,848$2,314$1,869$1,501$1,048
20 years$3,273$2,647$2,124$1,692$1,341$914
21 years$3,084$2,465$1,953$1,536$1,200$799
22 years$2,913$2,301$1,800$1,397$1,075$700
23 years$2,757$2,152$1,662$1,272$965$613
24 years$2,614$2,017$1,537$1,160$868$538
25 years$2,483$1,893$1,424$1,059$781$472
26 years$2,362$1,779$1,321$969$703$415
27 years$2,250$1,674$1,226$887$634$365
28 years$2,146$1,577$1,140$812$572$321
29 years$2,050$1,488$1,061$745$517$282
30 years$1,960$1,405$988$684$467$249
31 years$1,876$1,328$921$628$422$219
32 years$1,798$1,257$860$577$382$193
33 years$1,725$1,190$803$531$346$170
34 years$1,656$1,128$750$488$313$150
35 years$1,591$1,070$701$449$283$132
36 years$1,529$1,016$656$414$257$117
37 years$1,472$965$614$381$233$103
38 years$1,417$917$575$352$211$91
39 years$1,366$872$539$324$191$80
40 years$1,317$829$505$299$174$71
41 years$1,270$790$473$276$157$62
42 years$1,226$752$444$255$143$55
43 years$1,184$716$417$235$130$49
44 years$1,144$683$391$217$118$43
45 years$1,106$651$367$200$107$38
46 years$1,070$621$345$185$97$33
47 years$1,035$593$324$171$88$30
48 years$1,002$566$305$158$80$26
49 years$971$540$286$146$73$23
50 years$940$516$269$135$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $963,000, adding $2,943 every year, while hoping to spend $32,706 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: 77/12/11 Blend
57$963,000$963,000$963,000$963,000
58$1,064,262$1,013,223$998,296$1,143,837
59$1,138,017$1,028,072$996,940$1,211,470
60$1,218,200$1,042,552$994,443$1,281,144
61$1,305,431$1,056,611$990,731$1,356,610
62$1,400,393$1,070,193$985,728$1,438,432
63$1,503,838$1,083,238$979,355$1,527,233
64$1,616,593$1,095,680$971,527$1,623,696
65$1,739,569$1,107,452$962,157$1,728,576
66$1,873,769$1,118,481$951,153$1,842,703
67$2,020,295$1,128,688$938,418$1,966,993
68$2,180,361$1,137,990$923,852$2,102,455
69$2,355,306$1,146,300$907,348$2,250,200
70$2,546,600$1,153,521$888,797$2,411,453
71$2,755,864$1,159,555$868,083$2,587,562
72$2,984,883$1,164,293$845,084$2,780,016
73$3,235,621$1,167,624$819,675$2,990,452
74$3,510,242$1,169,425$791,722$3,220,677
75$3,811,129$1,169,570$761,087$3,472,681
76$4,140,907$1,167,921$727,625$3,748,657
77$4,502,464$1,164,334$691,186$4,051,023
78$4,898,984$1,158,655$651,610$4,382,441
79$5,333,974$1,150,722$608,732$4,745,848
80$5,811,294$1,140,362$562,379$5,144,479
81$6,335,198$1,127,393$512,371$5,581,900
82$6,910,372$1,111,618$458,519$6,062,042
83$7,541,977$1,092,834$400,626$6,589,234
84$8,235,698$1,070,822$338,486$7,168,252
85$8,997,798$1,045,352$271,885$7,804,357
86$9,835,177$1,016,178$200,597$8,503,346
87$10,755,437$983,042$124,388$9,271,611
88$11,766,950$945,670$43,014$10,116,196
89$12,878,944$903,773$0$11,044,863
90$14,101,581$857,043$0$12,071,312
91$15,446,061$805,156$0$13,205,552
92$16,924,720$747,770$0$14,452,954
93$18,551,152$684,521$0$15,825,007
94$20,340,334$615,026$0$17,334,371
95$22,308,766$538,881$0$18,994,996
96$24,474,631$455,657$0$20,822,257
97$26,857,960$364,901$0$22,833,095
98$29,480,827$266,136$0$25,046,178
99$32,367,552$158,857$0$27,482,082
100$35,544,933$42,532$0$30,163,477