Can I retire at age 58 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$79,689$78,979$78,286$77,610$76,950$76,594
2 years$39,450$38,715$38,003$37,313$36,643$36,283
3 years$26,039$25,301$24,591$23,907$23,248$22,896
4 years$19,334$18,599$17,896$17,223$16,581$16,239
5 years$15,313$14,582$13,888$13,229$12,604$12,274
6 years$12,633$11,907$11,223$10,580$9,973$9,655
7 years$10,719$9,999$9,327$8,698$8,111$7,805
8 years$9,285$8,571$7,910$7,297$6,729$6,435
9 years$8,169$7,463$6,813$6,215$5,667$5,385
10 years$7,278$6,578$5,939$5,357$4,828$4,558
11 years$6,549$5,856$5,229$4,663$4,152$3,894
12 years$5,942$5,256$4,641$4,090$3,598$3,352
13 years$5,428$4,750$4,146$3,611$3,138$2,903
14 years$4,989$4,318$3,725$3,205$2,751$2,526
15 years$4,608$3,944$3,363$2,858$2,422$2,208
16 years$4,275$3,619$3,049$2,559$2,141$1,938
17 years$3,982$3,333$2,775$2,300$1,898$1,705
18 years$3,722$3,080$2,533$2,072$1,688$1,505
19 years$3,489$2,854$2,319$1,873$1,504$1,331
20 years$3,280$2,652$2,128$1,696$1,344$1,179
21 years$3,091$2,470$1,958$1,539$1,202$1,047
22 years$2,919$2,306$1,804$1,399$1,078$931
23 years$2,763$2,157$1,666$1,275$967$829
24 years$2,619$2,021$1,541$1,162$870$739
25 years$2,488$1,896$1,427$1,062$782$659
26 years$2,367$1,782$1,323$971$705$589
27 years$2,255$1,677$1,229$888$635$526
28 years$2,151$1,581$1,142$814$573$471
29 years$2,054$1,491$1,063$746$518$422
30 years$1,964$1,408$990$685$468$378
31 years$1,880$1,331$923$629$423$338
32 years$1,802$1,260$861$578$383$303
33 years$1,728$1,193$804$532$346$272
34 years$1,659$1,131$751$489$313$244
35 years$1,594$1,072$703$450$284$219
36 years$1,533$1,018$657$415$257$197
37 years$1,475$967$615$382$233$177
38 years$1,420$919$576$352$211$159
39 years$1,368$874$540$325$192$143
40 years$1,319$831$506$300$174$128
41 years$1,273$791$474$276$158$115
42 years$1,229$753$445$255$143$103
43 years$1,187$718$418$235$130$93
44 years$1,147$684$392$217$118$84
45 years$1,108$653$368$201$107$75
46 years$1,072$623$346$185$97$68
47 years$1,037$594$325$171$88$61
48 years$1,004$567$305$158$80$55
49 years$973$542$287$146$73$49
50 years$942$517$270$135$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $965,000, adding $5,895 every year, while hoping to spend $40,053 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: 35/36/29 Blend
57$965,000$965,000$965,000$965,000
58$1,069,511$1,018,366$1,003,408$1,097,439
59$1,135,985$1,025,650$994,406$1,126,201
60$1,207,897$1,031,948$983,760$1,153,210
61$1,285,759$1,037,170$971,373$1,181,588
62$1,370,135$1,041,220$957,143$1,211,487
63$1,461,644$1,043,995$940,962$1,243,073
64$1,560,967$1,045,386$922,720$1,276,536
65$1,668,854$1,045,278$902,299$1,312,085
66$1,786,128$1,043,548$879,577$1,349,956
67$1,913,696$1,040,065$854,426$1,390,410
68$2,052,555$1,034,690$826,712$1,433,741
69$2,203,804$1,027,278$796,295$1,480,274
70$2,368,649$1,017,672$763,028$1,530,372
71$2,548,421$1,005,707$726,759$1,584,440
72$2,744,581$991,209$687,327$1,642,929
73$2,958,741$973,991$644,565$1,706,338
74$3,192,673$953,856$598,298$1,775,226
75$3,448,328$930,598$548,344$1,850,212
76$3,727,856$903,995$494,511$1,931,984
77$4,033,620$873,814$436,600$2,021,306
78$4,368,227$839,809$374,404$2,119,029
79$4,734,544$801,717$307,704$2,226,094
80$5,135,729$759,262$236,273$2,343,547
81$5,575,260$712,153$159,875$2,472,548
82$6,056,967$660,079$78,262$2,614,384
83$6,585,069$602,714$0$2,770,481
84$7,164,211$539,712$0$2,945,154
85$7,799,511$470,709$0$3,163,441
86$8,496,605$395,317$0$3,403,128
87$9,261,701$313,130$0$3,666,454
88$10,101,638$223,717$0$3,955,895
89$11,023,949$126,623$0$4,274,182
90$12,036,931$21,367$0$4,624,335
91$13,149,727$0$0$5,009,688
92$14,372,407$0$0$5,470,586
93$15,716,064$0$0$5,986,539
94$17,192,920$0$0$6,553,796
95$18,816,442$0$0$7,177,546
96$20,601,462$0$0$7,863,510
97$22,564,326$0$0$8,617,989
98$24,723,040$0$0$9,447,925
99$27,097,442$0$0$10,360,968
100$29,709,392$0$0$11,365,546