Can I retire at age 58 with 964,000?

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 $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%11.9%
1 years$79,606$78,897$78,205$77,530$76,871$76,258
2 years$39,409$38,675$37,964$37,274$36,605$35,988
3 years$26,012$25,275$24,565$23,882$23,224$22,621
4 years$19,314$18,579$17,877$17,206$16,563$15,979
5 years$15,297$14,567$13,873$13,215$12,591$12,028
6 years$12,620$11,895$11,212$10,569$9,963$9,421
7 years$10,708$9,989$9,317$8,689$8,103$7,582
8 years$9,275$8,563$7,902$7,289$6,722$6,223
9 years$8,161$7,455$6,806$6,209$5,661$5,183
10 years$7,270$6,571$5,933$5,352$4,823$4,367
11 years$6,542$5,850$5,224$4,658$4,148$3,712
12 years$5,935$5,251$4,636$4,085$3,595$3,179
13 years$5,423$4,745$4,142$3,607$3,135$2,739
14 years$4,984$4,313$3,721$3,202$2,748$2,372
15 years$4,603$3,940$3,360$2,855$2,419$2,062
16 years$4,271$3,615$3,046$2,557$2,138$1,799
17 years$3,978$3,329$2,772$2,297$1,896$1,575
18 years$3,718$3,076$2,530$2,070$1,686$1,382
19 years$3,485$2,851$2,317$1,871$1,503$1,215
20 years$3,276$2,650$2,126$1,694$1,342$1,071
21 years$3,088$2,468$1,955$1,538$1,201$945
22 years$2,916$2,304$1,802$1,398$1,077$835
23 years$2,760$2,155$1,664$1,273$966$739
24 years$2,617$2,019$1,539$1,161$869$655
25 years$2,485$1,894$1,425$1,061$782$581
26 years$2,364$1,781$1,322$970$704$516
27 years$2,252$1,676$1,228$888$635$458
28 years$2,149$1,579$1,141$813$573$407
29 years$2,052$1,490$1,062$746$517$362
30 years$1,962$1,407$989$684$467$322
31 years$1,878$1,330$922$629$422$287
32 years$1,800$1,258$860$578$382$255
33 years$1,726$1,192$803$531$346$228
34 years$1,657$1,129$751$489$313$203
35 years$1,592$1,071$702$450$284$181
36 years$1,531$1,017$657$414$257$161
37 years$1,473$966$614$382$233$144
38 years$1,419$918$575$352$211$128
39 years$1,367$873$539$324$191$115
40 years$1,318$830$505$299$174$102
41 years$1,271$790$474$276$158$91
42 years$1,227$753$444$255$143$81
43 years$1,185$717$417$235$130$73
44 years$1,145$684$392$217$118$65
45 years$1,107$652$368$201$107$58
46 years$1,071$622$345$185$97$52
47 years$1,036$593$324$171$88$46
48 years$1,003$567$305$158$80$41
49 years$972$541$287$146$73$37
50 years$941$517$269$135$66$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $964,000, adding $3,962 every year, while hoping to spend $25,133 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: 36/41/23 Blend
57$964,000$964,000$964,000$964,000
58$1,066,415$1,015,323$1,000,381$1,097,280
59$1,148,448$1,038,332$1,007,152$1,143,319
60$1,238,006$1,061,627$1,013,308$1,190,385
61$1,335,830$1,085,194$1,018,801$1,240,691
62$1,442,736$1,109,020$1,023,582$1,294,545
63$1,559,621$1,133,088$1,027,599$1,352,282
64$1,687,476$1,157,383$1,030,797$1,414,274
65$1,827,388$1,181,884$1,033,118$1,480,933
66$1,980,556$1,206,571$1,034,502$1,552,710
67$2,148,301$1,231,421$1,034,886$1,630,105
68$2,332,077$1,256,410$1,034,204$1,713,667
69$2,533,484$1,281,509$1,032,385$1,804,003
70$2,754,285$1,306,689$1,029,356$1,901,784
71$2,996,424$1,331,919$1,025,041$2,007,747
72$3,262,039$1,357,162$1,019,359$2,122,707
73$3,553,485$1,382,382$1,012,227$2,247,562
74$3,873,359$1,407,537$1,003,555$2,383,304
75$4,224,519$1,432,584$993,251$2,531,026
76$4,610,114$1,457,474$981,218$2,691,933
77$5,033,612$1,482,156$967,356$2,867,355
78$5,498,835$1,506,576$951,556$3,058,761
79$6,009,992$1,530,675$933,709$3,267,767
80$6,571,720$1,554,387$913,698$3,496,159
81$7,189,130$1,577,646$891,401$3,745,905
82$7,867,848$1,600,378$866,690$4,019,177
83$8,614,077$1,622,505$839,433$4,318,369
84$9,434,648$1,643,943$809,489$4,646,122
85$10,337,088$1,664,602$776,713$5,005,351
86$11,329,690$1,684,387$740,952$5,399,266
87$12,421,592$1,703,195$702,047$5,831,413
88$13,622,861$1,720,917$659,832$6,305,697
89$14,944,588$1,737,438$614,131$6,826,428
90$16,398,995$1,752,632$564,764$7,398,358
91$17,999,549$1,766,367$511,540$8,026,728
92$19,761,087$1,778,503$454,261$8,717,315
93$21,699,957$1,788,889$392,718$9,476,494
94$23,834,175$1,797,366$326,696$10,311,288
95$26,183,588$1,803,765$255,968$11,229,448
96$28,770,069$1,807,904$180,298$12,239,516
97$31,617,717$1,809,593$99,439$13,350,912
98$34,753,088$1,808,627$13,134$14,574,022
99$38,205,444$1,804,790$0$15,920,299
100$42,007,027$1,797,853$0$17,421,749