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%16.6%
1 years$79,689$78,979$78,286$77,610$76,950$74,878
2 years$39,450$38,715$38,003$37,313$36,643$34,570
3 years$26,039$25,301$24,591$23,907$23,248$21,239
4 years$19,334$18,599$17,896$17,223$16,581$14,651
5 years$15,313$14,582$13,888$13,229$12,604$10,760
6 years$12,633$11,907$11,223$10,580$9,973$8,215
7 years$10,719$9,999$9,327$8,698$8,111$6,440
8 years$9,285$8,571$7,910$7,297$6,729$5,144
9 years$8,169$7,463$6,813$6,215$5,667$4,166
10 years$7,278$6,578$5,939$5,357$4,828$3,410
11 years$6,549$5,856$5,229$4,663$4,152$2,815
12 years$5,942$5,256$4,641$4,090$3,598$2,339
13 years$5,428$4,750$4,146$3,611$3,138$1,953
14 years$4,989$4,318$3,725$3,205$2,751$1,639
15 years$4,608$3,944$3,363$2,858$2,422$1,379
16 years$4,275$3,619$3,049$2,559$2,141$1,165
17 years$3,982$3,333$2,775$2,300$1,898$986
18 years$3,722$3,080$2,533$2,072$1,688$836
19 years$3,489$2,854$2,319$1,873$1,504$710
20 years$3,280$2,652$2,128$1,696$1,344$604
21 years$3,091$2,470$1,958$1,539$1,202$515
22 years$2,919$2,306$1,804$1,399$1,078$439
23 years$2,763$2,157$1,666$1,275$967$374
24 years$2,619$2,021$1,541$1,162$870$320
25 years$2,488$1,896$1,427$1,062$782$273
26 years$2,367$1,782$1,323$971$705$234
27 years$2,255$1,677$1,229$888$635$200
28 years$2,151$1,581$1,142$814$573$171
29 years$2,054$1,491$1,063$746$518$146
30 years$1,964$1,408$990$685$468$125
31 years$1,880$1,331$923$629$423$107
32 years$1,802$1,260$861$578$383$92
33 years$1,728$1,193$804$532$346$79
34 years$1,659$1,131$751$489$313$67
35 years$1,594$1,072$703$450$284$58
36 years$1,533$1,018$657$415$257$50
37 years$1,475$967$615$382$233$42
38 years$1,420$919$576$352$211$36
39 years$1,368$874$540$325$192$31
40 years$1,319$831$506$300$174$27
41 years$1,273$791$474$276$158$23
42 years$1,229$753$445$255$143$20
43 years$1,187$718$418$235$130$17
44 years$1,147$684$392$217$118$14
45 years$1,108$653$368$201$107$12
46 years$1,072$623$346$185$97$11
47 years$1,037$594$325$171$88$9
48 years$1,004$567$305$158$80$8
49 years$973$542$287$146$73$7
50 years$942$517$270$135$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $965,000, adding $3,670 every year, while hoping to spend $31,357 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: 52/19/29 Blend
57$965,000$965,000$965,000$965,000
58$1,067,216$1,016,071$1,001,113$1,113,846
59$1,142,708$1,032,494$1,001,287$1,163,109
60$1,224,850$1,048,672$1,000,415$1,213,218
61$1,314,286$1,064,558$998,431$1,267,118
62$1,411,726$1,080,105$995,261$1,325,185
63$1,517,952$1,095,260$990,832$1,387,833
64$1,633,823$1,109,968$985,065$1,455,520
65$1,760,286$1,124,169$977,878$1,528,753
66$1,898,382$1,137,800$969,183$1,608,090
67$2,049,258$1,150,793$958,892$1,694,147
68$2,214,176$1,163,076$946,909$1,787,605
69$2,394,527$1,174,572$933,135$1,889,217
70$2,591,840$1,185,197$917,467$1,999,810
71$2,807,801$1,194,866$899,796$2,120,302
72$3,044,266$1,203,483$880,008$2,251,702
73$3,303,277$1,210,949$857,984$2,395,126
74$3,587,084$1,217,159$833,600$2,551,806
75$3,898,167$1,222,000$806,725$2,723,099
76$4,239,254$1,225,352$777,224$2,910,506
77$4,613,351$1,227,087$744,954$3,115,681
78$5,023,769$1,227,071$709,767$3,340,450
79$5,474,156$1,225,160$671,506$3,586,828
80$5,968,528$1,221,200$630,009$3,857,037
81$6,511,309$1,215,031$585,107$4,153,531
82$7,107,376$1,206,480$536,621$4,479,014
83$7,762,096$1,195,366$484,366$4,836,473
84$8,481,386$1,181,495$428,148$5,229,200
85$9,271,761$1,164,662$367,764$5,660,828
86$10,140,400$1,144,650$303,004$6,135,365
87$11,095,213$1,121,230$233,647$6,657,231
88$12,144,912$1,094,157$159,461$7,231,300
89$13,299,097$1,063,175$80,207$7,862,952
90$14,568,344$1,028,010$0$8,558,117
91$15,964,306$988,373$0$9,324,688
92$17,499,821$943,958$0$10,195,101
93$19,189,033$894,443$0$11,152,553
94$21,047,528$839,485$0$12,205,904
95$23,092,478$778,721$0$13,364,923
96$25,342,803$711,771$0$14,640,375
97$27,819,350$638,229$0$16,044,124
98$30,545,090$557,669$0$17,589,248
99$33,545,333$469,638$0$19,290,160
100$36,847,966$373,660$0$21,162,745