Can I retire at age 58 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$79,937$79,225$78,530$77,852$77,190$74,989
2 years$39,573$38,836$38,121$37,429$36,757$34,557
3 years$26,120$25,379$24,667$23,981$23,320$21,190
4 years$19,395$18,657$17,951$17,277$16,632$14,588
5 years$15,360$14,627$13,931$13,270$12,643$10,691
6 years$12,672$11,944$11,258$10,612$10,004$8,145
7 years$10,752$10,031$9,356$8,725$8,136$6,370
8 years$9,313$8,598$7,934$7,319$6,750$5,076
9 years$8,195$7,486$6,834$6,234$5,684$4,101
10 years$7,300$6,599$5,958$5,374$4,843$3,349
11 years$6,569$5,874$5,245$4,677$4,165$2,757
12 years$5,960$5,273$4,655$4,102$3,610$2,285
13 years$5,445$4,765$4,159$3,622$3,148$1,903
14 years$5,004$4,331$3,737$3,215$2,759$1,592
15 years$4,622$3,957$3,374$2,867$2,429$1,336
16 years$4,289$3,630$3,059$2,567$2,147$1,125
17 years$3,994$3,343$2,783$2,307$1,904$949
18 years$3,733$3,089$2,541$2,079$1,693$803
19 years$3,500$2,863$2,326$1,878$1,509$680
20 years$3,290$2,660$2,135$1,701$1,348$577
21 years$3,100$2,478$1,964$1,544$1,206$490
22 years$2,928$2,313$1,810$1,404$1,081$416
23 years$2,771$2,164$1,671$1,278$970$354
24 years$2,628$2,027$1,545$1,166$872$301
25 years$2,496$1,902$1,431$1,065$785$257
26 years$2,374$1,788$1,327$974$707$219
27 years$2,262$1,683$1,233$891$637$187
28 years$2,157$1,586$1,146$817$575$159
29 years$2,061$1,496$1,066$749$519$136
30 years$1,970$1,413$993$687$469$116
31 years$1,886$1,335$926$631$424$99
32 years$1,807$1,264$864$580$384$84
33 years$1,734$1,197$807$533$347$72
34 years$1,664$1,134$754$491$314$62
35 years$1,599$1,076$705$452$285$53
36 years$1,537$1,021$659$416$258$45
37 years$1,479$970$617$383$234$38
38 years$1,425$922$578$353$212$33
39 years$1,373$876$541$326$192$28
40 years$1,323$834$507$301$174$24
41 years$1,277$794$476$277$158$20
42 years$1,232$756$446$256$144$17
43 years$1,190$720$419$236$130$15
44 years$1,150$686$393$218$118$13
45 years$1,112$655$369$201$107$11
46 years$1,075$624$347$186$97$9
47 years$1,041$596$326$172$89$8
48 years$1,007$569$306$159$80$7
49 years$976$543$288$147$73$6
50 years$945$519$270$136$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $968,000, adding $3,014 every year, while hoping to spend $27,664 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: 26/45/29 Blend
57$968,000$968,000$968,000$968,000
58$1,069,845$1,018,541$1,003,537$1,087,928
59$1,149,535$1,039,015$1,007,721$1,123,577
60$1,236,426$1,059,565$1,011,118$1,159,246
61$1,331,224$1,080,166$1,013,673$1,196,953
62$1,434,704$1,100,790$1,015,327$1,236,891
63$1,547,722$1,121,407$1,016,018$1,279,271
64$1,671,218$1,141,984$1,015,683$1,324,330
65$1,806,228$1,162,487$1,014,254$1,372,326
66$1,953,892$1,182,878$1,011,661$1,423,548
67$2,115,466$1,203,116$1,007,828$1,478,314
68$2,292,332$1,223,157$1,002,679$1,536,976
69$2,486,013$1,242,955$996,132$1,599,924
70$2,698,185$1,262,458$988,101$1,667,589
71$2,930,694$1,281,613$978,497$1,740,447
72$3,185,574$1,300,361$967,225$1,819,026
73$3,465,064$1,318,641$954,189$1,903,908
74$3,771,631$1,336,384$939,285$1,995,738
75$4,107,991$1,353,521$922,405$2,095,228
76$4,477,137$1,369,975$903,436$2,203,166
77$4,882,366$1,385,664$882,262$2,320,423
78$5,327,307$1,400,501$858,757$2,447,961
79$5,815,960$1,414,394$832,794$2,586,845
80$6,352,733$1,427,244$804,237$2,738,248
81$6,942,477$1,438,945$772,945$2,903,470
82$7,590,542$1,449,384$738,770$3,083,946
83$8,302,817$1,458,444$701,559$3,281,260
84$9,085,792$1,465,995$661,148$3,497,165
85$9,946,617$1,471,904$617,371$3,733,595
86$10,893,170$1,476,025$570,051$3,992,685
87$11,934,129$1,478,206$519,004$4,276,795
88$13,079,056$1,478,284$464,037$4,588,531
89$14,338,487$1,476,087$404,949$4,930,769
90$15,724,029$1,471,431$341,531$5,306,687
91$17,248,471$1,464,123$273,563$5,719,790
92$18,925,904$1,453,954$200,817$6,173,951
93$20,771,856$1,440,708$123,054$6,673,444
94$22,803,434$1,424,151$40,025$7,222,986
95$25,039,487$1,404,037$0$7,827,783
96$27,500,786$1,380,106$0$8,508,616
97$30,210,216$1,352,081$0$9,270,988
98$33,192,995$1,319,670$0$10,109,587
99$36,476,910$1,282,563$0$11,032,228
100$40,092,578$1,240,433$0$12,047,527