Can I retire at age 58 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$77,872$77,178$76,502$75,841$75,196$73,349
2 years$38,551$37,833$37,137$36,462$35,808$33,958
3 years$25,445$24,724$24,030$23,362$22,718$20,923
4 years$18,894$18,175$17,488$16,831$16,203$14,477
5 years$14,964$14,249$13,571$12,928$12,317$10,666
6 years$12,345$11,636$10,967$10,338$9,746$8,170
7 years$10,475$9,772$9,114$8,500$7,926$6,426
8 years$9,073$8,376$7,729$7,130$6,575$5,151
9 years$7,983$7,293$6,657$6,073$5,537$4,187
10 years$7,112$6,428$5,804$5,235$4,718$3,440
11 years$6,399$5,723$5,110$4,556$4,058$2,850
12 years$5,806$5,136$4,535$3,996$3,516$2,378
13 years$5,305$4,642$4,052$3,528$3,066$1,994
14 years$4,875$4,219$3,640$3,132$2,688$1,680
15 years$4,503$3,854$3,287$2,793$2,367$1,420
16 years$4,178$3,536$2,980$2,501$2,092$1,204
17 years$3,891$3,257$2,712$2,247$1,855$1,023
18 years$3,637$3,009$2,475$2,025$1,649$872
19 years$3,409$2,789$2,266$1,830$1,470$744
20 years$3,205$2,592$2,080$1,657$1,313$636
21 years$3,020$2,414$1,913$1,504$1,175$544
22 years$2,853$2,254$1,763$1,368$1,053$466
23 years$2,700$2,108$1,628$1,245$945$399
24 years$2,560$1,975$1,505$1,136$850$343
25 years$2,431$1,853$1,394$1,037$765$294
26 years$2,313$1,742$1,293$949$689$253
27 years$2,203$1,639$1,201$868$621$217
28 years$2,102$1,545$1,116$795$560$187
29 years$2,007$1,457$1,039$729$506$161
30 years$1,920$1,376$968$669$457$138
31 years$1,837$1,301$902$615$413$119
32 years$1,761$1,231$842$565$374$102
33 years$1,689$1,166$786$520$338$88
34 years$1,621$1,105$734$478$306$76
35 years$1,558$1,048$687$440$277$65
36 years$1,498$995$642$405$251$56
37 years$1,441$945$601$373$228$49
38 years$1,388$898$563$344$207$42
39 years$1,337$854$527$317$187$36
40 years$1,289$812$494$293$170$31
41 years$1,244$773$464$270$154$27
42 years$1,201$736$435$249$140$23
43 years$1,160$702$408$230$127$20
44 years$1,120$669$383$212$115$17
45 years$1,083$638$360$196$105$15
46 years$1,048$608$338$181$95$13
47 years$1,014$581$317$167$86$11
48 years$981$554$298$155$78$9
49 years$950$529$280$143$71$8
50 years$921$506$263$132$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $943,000, adding $2,686 every year, while hoping to spend $58,542 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: 48/40/12 Blend
57$943,000$943,000$943,000$943,000
58$1,041,957$991,978$977,361$1,088,398
59$1,085,948$978,296$947,814$1,106,985
60$1,132,464$961,982$915,316$1,120,857
61$1,181,701$942,845$879,705$1,134,602
62$1,233,873$920,683$840,813$1,148,228
63$1,289,213$895,281$798,465$1,161,746
64$1,347,976$866,414$752,477$1,175,174
65$1,410,442$833,840$702,658$1,188,536
66$1,476,916$797,307$648,806$1,201,862
67$1,547,733$756,547$590,712$1,215,190
68$1,623,258$711,274$528,157$1,228,568
69$1,703,893$661,189$460,913$1,242,053
70$1,790,078$605,974$388,741$1,255,717
71$1,882,293$545,295$311,391$1,269,641
72$1,981,067$478,795$228,603$1,283,925
73$2,086,981$406,100$140,106$1,298,684
74$2,200,668$326,814$45,615$1,314,052
75$2,322,827$240,519$0$1,330,188
76$2,454,224$146,773$0$1,354,343
77$2,595,699$45,109$0$1,386,349
78$2,748,175$0$0$1,420,639
79$2,912,667$0$0$1,486,127
80$3,090,289$0$0$1,578,364
81$3,282,264$0$0$1,678,139
82$3,489,940$0$0$1,786,162
83$3,714,794$0$0$1,903,215
84$3,958,453$0$0$2,030,155
85$4,222,705$0$0$2,167,927
86$4,509,516$0$0$2,317,569
87$4,821,049$0$0$2,480,222
88$5,159,683$0$0$2,657,143
89$5,528,034$0$0$2,849,714
90$5,928,982$0$0$3,059,456
91$6,365,694$0$0$3,288,042
92$6,841,658$0$0$3,537,315
93$7,360,711$0$0$3,809,301
94$7,927,074$0$0$4,106,232
95$8,545,397$0$0$4,430,563
96$9,220,797$0$0$4,785,000
97$9,958,906$0$0$5,172,518
98$10,765,926$0$0$5,596,396
99$11,648,685$0$0$6,060,243
100$12,614,702$0$0$6,568,032