Can I retire at age 58 with 965,000?

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 $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%15.6%
1 years$79,689$78,979$78,286$77,610$76,950$75,182
2 years$39,450$38,715$38,003$37,313$36,643$34,871
3 years$26,039$25,301$24,591$23,907$23,248$21,528
4 years$19,334$18,599$17,896$17,223$16,581$14,925
5 years$15,313$14,582$13,888$13,229$12,604$11,019
6 years$12,633$11,907$11,223$10,580$9,973$8,459
7 years$10,719$9,999$9,327$8,698$8,111$6,669
8 years$9,285$8,571$7,910$7,297$6,729$5,358
9 years$8,169$7,463$6,813$6,215$5,667$4,366
10 years$7,278$6,578$5,939$5,357$4,828$3,596
11 years$6,549$5,856$5,229$4,663$4,152$2,987
12 years$5,942$5,256$4,641$4,090$3,598$2,498
13 years$5,428$4,750$4,146$3,611$3,138$2,101
14 years$4,989$4,318$3,725$3,205$2,751$1,774
15 years$4,608$3,944$3,363$2,858$2,422$1,504
16 years$4,275$3,619$3,049$2,559$2,141$1,279
17 years$3,982$3,333$2,775$2,300$1,898$1,090
18 years$3,722$3,080$2,533$2,072$1,688$932
19 years$3,489$2,854$2,319$1,873$1,504$797
20 years$3,280$2,652$2,128$1,696$1,344$683
21 years$3,091$2,470$1,958$1,539$1,202$587
22 years$2,919$2,306$1,804$1,399$1,078$504
23 years$2,763$2,157$1,666$1,275$967$433
24 years$2,619$2,021$1,541$1,162$870$373
25 years$2,488$1,896$1,427$1,062$782$321
26 years$2,367$1,782$1,323$971$705$277
27 years$2,255$1,677$1,229$888$635$239
28 years$2,151$1,581$1,142$814$573$206
29 years$2,054$1,491$1,063$746$518$178
30 years$1,964$1,408$990$685$468$154
31 years$1,880$1,331$923$629$423$133
32 years$1,802$1,260$861$578$383$115
33 years$1,728$1,193$804$532$346$99
34 years$1,659$1,131$751$489$313$85
35 years$1,594$1,072$703$450$284$74
36 years$1,533$1,018$657$415$257$64
37 years$1,475$967$615$382$233$55
38 years$1,420$919$576$352$211$48
39 years$1,368$874$540$325$192$41
40 years$1,319$831$506$300$174$36
41 years$1,273$791$474$276$158$31
42 years$1,229$753$445$255$143$27
43 years$1,187$718$418$235$130$23
44 years$1,147$684$392$217$118$20
45 years$1,108$653$368$201$107$17
46 years$1,072$623$346$185$97$15
47 years$1,037$594$325$171$88$13
48 years$1,004$567$305$158$80$11
49 years$973$542$287$146$73$10
50 years$942$517$270$135$66$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $965,000, adding $6,125 every year, while hoping to spend $54,211 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: 45/26/29 Blend
57$965,000$965,000$965,000$965,000
58$1,069,748$1,018,603$1,003,645$1,108,677
59$1,121,182$1,010,834$979,587$1,129,229
60$1,176,046$1,000,868$952,907$1,145,845
61$1,234,631$988,540$923,458$1,162,837
62$1,297,259$973,674$891,089$1,180,271
63$1,364,281$956,085$855,642$1,198,222
64$1,436,083$935,578$816,951$1,216,780
65$1,513,086$911,944$774,842$1,236,044
66$1,595,755$884,964$729,134$1,256,131
67$1,684,599$854,404$679,636$1,277,173
68$1,780,177$820,019$626,153$1,299,321
69$1,883,101$781,546$568,475$1,322,746
70$1,994,046$738,711$506,388$1,347,641
71$2,113,752$691,221$439,665$1,374,228
72$2,243,032$638,768$368,071$1,402,754
73$2,382,780$581,025$291,360$1,433,500
74$2,533,976$517,649$209,273$1,466,783
75$2,697,702$448,273$121,544$1,502,957
76$2,875,143$372,514$27,891$1,542,422
77$3,067,605$289,965$0$1,585,628
78$3,276,523$200,195$0$1,655,372
79$3,503,475$102,751$0$1,740,583
80$3,750,197$0$0$1,833,351
81$4,018,601$0$0$1,935,298
82$4,310,787$0$0$2,078,381
83$4,629,068$0$0$2,234,347
84$4,975,989$0$0$2,404,457
85$5,354,350$0$0$2,590,098
86$5,767,235$0$0$2,792,796
87$6,218,037$0$0$3,014,233
88$6,710,491$0$0$3,256,258
89$7,248,709$0$0$3,520,909
90$7,837,218$0$0$3,810,428
91$8,481,003$0$0$4,127,285
92$9,185,552$0$0$4,474,200
93$9,956,909$0$0$4,854,168
94$10,801,729$0$0$5,270,485
95$11,727,341$0$0$5,726,784
96$12,741,816$0$0$6,227,065
97$13,854,043$0$0$6,775,733
98$15,073,814$0$0$7,377,641
99$16,411,911$0$0$8,038,133
100$17,880,211$0$0$8,763,096