Can I retire at age 58 with 935,000?

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 $935,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$77,211$76,524$75,853$75,198$74,558$74,057
2 years$38,223$37,512$36,822$36,153$35,504$34,999
3 years$25,229$24,514$23,826$23,163$22,525$22,031
4 years$18,733$18,021$17,339$16,688$16,065$15,586
5 years$14,837$14,128$13,456$12,818$12,212$11,750
6 years$12,240$11,537$10,874$10,251$9,663$9,218
7 years$10,386$9,689$9,037$8,428$7,859$7,431
8 years$8,996$8,305$7,664$7,070$6,520$6,110
9 years$7,915$7,231$6,601$6,022$5,491$5,098
10 years$7,051$6,374$5,755$5,191$4,678$4,302
11 years$6,345$5,674$5,066$4,518$4,023$3,664
12 years$5,757$5,093$4,496$3,963$3,487$3,144
13 years$5,260$4,602$4,017$3,498$3,040$2,714
14 years$4,834$4,183$3,609$3,105$2,665$2,355
15 years$4,465$3,822$3,259$2,769$2,347$2,051
16 years$4,142$3,506$2,955$2,480$2,074$1,794
17 years$3,858$3,229$2,689$2,228$1,839$1,573
18 years$3,606$2,984$2,454$2,008$1,635$1,383
19 years$3,380$2,765$2,247$1,814$1,457$1,219
20 years$3,178$2,570$2,062$1,643$1,302$1,077
21 years$2,995$2,394$1,897$1,491$1,165$952
22 years$2,828$2,234$1,748$1,356$1,044$844
23 years$2,677$2,090$1,614$1,235$937$748
24 years$2,538$1,958$1,493$1,126$842$664
25 years$2,411$1,837$1,383$1,029$758$591
26 years$2,293$1,727$1,282$941$683$525
27 years$2,185$1,625$1,191$861$616$468
28 years$2,084$1,531$1,107$789$556$417
29 years$1,990$1,445$1,030$723$502$372
30 years$1,903$1,364$959$664$453$332
31 years$1,822$1,290$894$610$410$296
32 years$1,746$1,220$835$560$371$264
33 years$1,674$1,156$779$515$335$236
34 years$1,607$1,095$728$474$304$211
35 years$1,544$1,039$681$436$275$188
36 years$1,485$986$637$402$249$168
37 years$1,429$937$596$370$226$151
38 years$1,376$890$558$341$205$135
39 years$1,326$846$523$315$186$121
40 years$1,278$805$490$290$168$108
41 years$1,233$767$460$268$153$97
42 years$1,190$730$431$247$139$86
43 years$1,150$696$405$228$126$77
44 years$1,111$663$380$211$114$69
45 years$1,074$632$357$195$104$62
46 years$1,039$603$335$180$94$55
47 years$1,005$576$315$166$86$50
48 years$973$549$296$153$78$45
49 years$942$525$278$142$71$40
50 years$913$501$261$131$64$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $935,000, adding $3,059 every year, while hoping to spend $29,714 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: 61/21/18 Blend
57$935,000$935,000$935,000$935,000
58$1,033,525$983,970$969,478$1,091,619
59$1,107,329$1,000,569$970,340$1,147,780
60$1,187,666$1,016,986$970,235$1,205,459
61$1,275,169$1,033,180$969,099$1,267,717
62$1,370,538$1,049,107$966,866$1,335,002
63$1,474,542$1,064,722$963,465$1,407,808
64$1,588,026$1,079,975$958,822$1,486,680
65$1,711,923$1,094,812$952,861$1,572,217
66$1,847,258$1,109,177$945,501$1,665,081
67$1,995,160$1,123,008$936,656$1,766,003
68$2,156,872$1,136,241$926,240$1,875,786
69$2,333,761$1,148,805$914,157$1,995,318
70$2,527,336$1,160,627$900,312$2,125,578
71$2,739,254$1,171,628$884,602$2,267,644
72$2,971,342$1,181,722$866,921$2,422,707
73$3,225,614$1,190,821$847,158$2,592,078
74$3,504,284$1,198,829$825,195$2,777,204
75$3,809,792$1,205,642$800,910$2,979,681
76$4,144,826$1,211,155$774,176$3,201,267
77$4,512,347$1,215,249$744,859$3,443,903
78$4,915,614$1,217,804$712,820$3,709,726
79$5,358,219$1,218,689$677,912$4,001,096
80$5,844,118$1,217,766$639,983$4,320,614
81$6,377,669$1,214,887$598,873$4,671,145
82$6,963,672$1,209,897$554,416$5,055,853
83$7,607,414$1,202,630$506,436$5,478,223
84$8,314,722$1,192,911$454,754$5,942,098
85$9,092,013$1,180,552$399,177$6,451,717
86$9,946,357$1,165,358$339,508$7,011,752
87$10,885,543$1,147,118$275,540$7,627,355
88$11,918,153$1,125,612$207,055$8,304,204
89$13,053,641$1,100,603$133,828$9,048,563
90$14,302,424$1,071,844$55,622$9,867,334
91$15,675,978$1,039,071$0$10,768,129
92$17,186,948$1,002,006$0$11,764,685
93$18,849,265$960,353$0$12,872,654
94$20,678,280$913,800$0$14,091,592
95$22,690,906$862,017$0$15,432,795
96$24,905,778$804,655$0$16,908,713
97$27,343,429$741,346$0$18,533,068
98$30,026,485$671,698$0$20,320,981
99$32,979,874$595,299$0$22,289,119
100$36,231,066$511,713$0$24,455,852