Can I retire at age 58 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$79,606$78,897$78,205$77,530$76,871$75,753
2 years$39,409$38,675$37,964$37,274$36,605$35,482
3 years$26,012$25,275$24,565$23,882$23,224$22,129
4 years$19,314$18,579$17,877$17,206$16,563$15,506
5 years$15,297$14,567$13,873$13,215$12,591$11,574
6 years$12,620$11,895$11,212$10,569$9,963$8,988
7 years$10,708$9,989$9,317$8,689$8,103$7,169
8 years$9,275$8,563$7,902$7,289$6,722$5,830
9 years$8,161$7,455$6,806$6,209$5,661$4,811
10 years$7,270$6,571$5,933$5,352$4,823$4,014
11 years$6,542$5,850$5,224$4,658$4,148$3,379
12 years$5,935$5,251$4,636$4,085$3,595$2,864
13 years$5,423$4,745$4,142$3,607$3,135$2,442
14 years$4,984$4,313$3,721$3,202$2,748$2,092
15 years$4,603$3,940$3,360$2,855$2,419$1,800
16 years$4,271$3,615$3,046$2,557$2,138$1,553
17 years$3,978$3,329$2,772$2,297$1,896$1,344
18 years$3,718$3,076$2,530$2,070$1,686$1,166
19 years$3,485$2,851$2,317$1,871$1,503$1,014
20 years$3,276$2,650$2,126$1,694$1,342$883
21 years$3,088$2,468$1,955$1,538$1,201$770
22 years$2,916$2,304$1,802$1,398$1,077$672
23 years$2,760$2,155$1,664$1,273$966$588
24 years$2,617$2,019$1,539$1,161$869$514
25 years$2,485$1,894$1,425$1,061$782$450
26 years$2,364$1,781$1,322$970$704$395
27 years$2,252$1,676$1,228$888$635$346
28 years$2,149$1,579$1,141$813$573$304
29 years$2,052$1,490$1,062$746$517$267
30 years$1,962$1,407$989$684$467$234
31 years$1,878$1,330$922$629$422$206
32 years$1,800$1,258$860$578$382$181
33 years$1,726$1,192$803$531$346$159
34 years$1,657$1,129$751$489$313$140
35 years$1,592$1,071$702$450$284$123
36 years$1,531$1,017$657$414$257$108
37 years$1,473$966$614$382$233$95
38 years$1,419$918$575$352$211$84
39 years$1,367$873$539$324$191$74
40 years$1,318$830$505$299$174$65
41 years$1,271$790$474$276$158$57
42 years$1,227$753$444$255$143$50
43 years$1,185$717$417$235$130$44
44 years$1,145$684$392$217$118$39
45 years$1,107$652$368$201$107$34
46 years$1,071$622$345$185$97$30
47 years$1,036$593$324$171$88$27
48 years$1,003$567$305$158$80$23
49 years$972$541$287$146$73$21
50 years$941$517$269$135$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $964,000, adding $5,844 every year, while hoping to spend $47,452 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: 61/23/16 Blend
57$964,000$964,000$964,000$964,000
58$1,068,356$1,017,264$1,002,322$1,128,874
59$1,126,840$1,016,621$985,411$1,169,693
60$1,189,699$1,014,357$966,344$1,208,374
61$1,257,328$1,010,341$944,997$1,249,467
62$1,330,164$1,004,436$921,243$1,293,209
63$1,408,684$996,496$894,947$1,339,866
64$1,493,412$986,367$865,970$1,389,728
65$1,584,926$973,885$834,166$1,443,121
66$1,683,858$958,875$799,380$1,500,402
67$1,790,905$941,153$761,453$1,561,970
68$1,906,833$920,525$720,217$1,628,264
69$2,032,482$896,784$675,497$1,699,771
70$2,168,780$869,710$627,110$1,777,031
71$2,316,743$839,073$574,866$1,860,640
72$2,477,490$804,628$518,564$1,951,259
73$2,652,254$766,114$457,995$2,049,618
74$2,842,388$723,258$392,943$2,156,527
75$3,049,384$675,770$323,178$2,272,880
76$3,274,881$623,343$248,465$2,399,665
77$3,520,684$565,652$168,554$2,537,979
78$3,788,780$502,355$83,186$2,689,029
79$4,081,355$433,089$0$2,854,155
80$4,400,815$357,472$0$3,036,185
81$4,749,809$275,100$0$3,250,649
82$5,131,254$185,545$0$3,485,185
83$5,548,362$88,356$0$3,741,843
84$6,004,666$0$0$4,022,885
85$6,504,060$0$0$4,335,093
86$7,050,830$0$0$4,701,476
87$7,649,697$0$0$5,102,841
88$8,305,857$0$0$5,542,683
89$9,025,037$0$0$6,024,849
90$9,813,541$0$0$6,553,575
91$10,678,312$0$0$7,133,528
92$11,626,999$0$0$7,769,848
93$12,668,027$0$0$8,468,197
94$13,810,675$0$0$9,234,811
95$15,065,163$0$0$10,076,560
96$16,442,752$0$0$11,001,011
97$17,955,845$0$0$12,016,500
98$19,618,105$0$0$13,132,210
99$21,444,585$0$0$14,358,259
100$23,451,866$0$0$15,705,792