Can I retire at age 58 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$80,019$79,306$78,611$77,932$77,269$75,865
2 years$39,613$38,876$38,161$37,467$36,795$35,385
3 years$26,147$25,406$24,692$24,006$23,344$21,972
4 years$19,415$18,676$17,970$17,295$16,649$15,326
5 years$15,376$14,642$13,945$13,284$12,657$11,386
6 years$12,685$11,956$11,270$10,623$10,015$8,799
7 years$10,764$10,041$9,365$8,734$8,145$6,983
8 years$9,323$8,607$7,943$7,327$6,757$5,650
9 years$8,203$7,494$6,841$6,241$5,690$4,637
10 years$7,308$6,606$5,964$5,380$4,848$3,848
11 years$6,576$5,880$5,251$4,682$4,170$3,220
12 years$5,966$5,278$4,660$4,107$3,613$2,714
13 years$5,451$4,770$4,163$3,626$3,151$2,301
14 years$5,009$4,336$3,741$3,218$2,762$1,959
15 years$4,627$3,961$3,377$2,870$2,432$1,675
16 years$4,293$3,634$3,062$2,570$2,149$1,436
17 years$3,999$3,347$2,786$2,309$1,906$1,235
18 years$3,737$3,092$2,544$2,081$1,695$1,064
19 years$3,503$2,866$2,329$1,880$1,510$919
20 years$3,293$2,663$2,137$1,703$1,349$795
21 years$3,104$2,481$1,966$1,546$1,207$689
22 years$2,931$2,316$1,812$1,405$1,082$597
23 years$2,774$2,166$1,673$1,280$971$518
24 years$2,630$2,029$1,547$1,167$873$451
25 years$2,498$1,904$1,433$1,066$786$392
26 years$2,377$1,790$1,329$975$708$341
27 years$2,264$1,684$1,234$892$638$297
28 years$2,160$1,587$1,147$817$576$259
29 years$2,063$1,497$1,068$750$520$225
30 years$1,972$1,414$994$688$470$197
31 years$1,888$1,337$927$632$425$171
32 years$1,809$1,265$865$581$384$150
33 years$1,735$1,198$808$534$348$130
34 years$1,666$1,135$755$491$315$114
35 years$1,601$1,077$705$452$285$99
36 years$1,539$1,022$660$417$258$87
37 years$1,481$971$618$384$234$76
38 years$1,426$922$578$354$212$66
39 years$1,374$877$542$326$192$58
40 years$1,325$835$508$301$175$51
41 years$1,278$794$476$278$158$44
42 years$1,234$757$447$256$144$39
43 years$1,191$721$419$236$130$34
44 years$1,151$687$394$218$118$29
45 years$1,113$655$370$202$107$26
46 years$1,077$625$347$186$98$22
47 years$1,042$597$326$172$89$20
48 years$1,008$569$306$159$80$17
49 years$977$544$288$147$73$15
50 years$946$519$271$136$66$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $969,000, adding $2,213 every year, while hoping to spend $36,871 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: 50/34/16 Blend
57$969,000$969,000$969,000$969,000
58$1,070,121$1,018,764$1,003,744$1,118,801
59$1,140,043$1,029,453$998,139$1,163,245
60$1,215,861$1,039,430$991,111$1,207,507
61$1,298,138$1,048,621$982,572$1,254,801
62$1,387,492$1,056,947$972,432$1,305,424
63$1,484,604$1,064,326$960,597$1,359,707
64$1,590,223$1,070,667$946,966$1,418,012
65$1,705,171$1,075,876$931,435$1,480,744
66$1,830,356$1,079,851$913,896$1,548,347
67$1,966,775$1,082,486$894,233$1,621,314
68$2,115,524$1,083,666$872,328$1,700,189
69$2,277,812$1,083,270$848,056$1,785,574
70$2,454,969$1,081,170$821,286$1,878,135
71$2,648,457$1,077,229$791,880$1,978,606
72$2,859,888$1,071,301$759,697$2,087,799
73$3,091,036$1,063,234$724,585$2,206,613
74$3,343,853$1,052,864$686,390$2,336,040
75$3,620,489$1,040,018$644,948$2,477,176
76$3,923,313$1,024,513$600,088$2,631,232
77$4,254,931$1,006,154$551,631$2,799,546
78$4,618,215$984,736$499,391$2,983,596
79$5,016,325$960,041$443,174$3,185,013
80$5,452,746$931,838$382,775$3,405,602
81$5,931,311$899,883$317,983$3,647,354
82$6,456,244$863,917$248,575$3,912,466
83$7,032,199$823,668$174,321$4,203,367
84$7,664,300$778,844$94,977$4,522,738
85$8,358,193$729,141$10,292$4,873,537
86$9,120,094$674,234$0$5,259,034
87$9,956,854$613,783$0$5,696,506
88$10,876,019$547,424$0$6,179,026
89$11,885,901$474,776$0$6,709,280
90$12,995,658$395,434$0$7,292,168
91$14,215,378$308,973$0$7,933,098
92$15,556,175$214,942$0$8,638,033
93$17,030,295$112,864$0$9,413,548
94$18,651,227$2,237$0$10,266,898
95$20,433,836$0$0$11,206,083
96$22,394,497$0$0$12,283,876
97$24,551,252$0$0$13,470,500
98$26,923,981$0$0$14,776,070
99$29,534,585$0$0$16,212,653
100$32,407,199$0$0$17,793,545