Can I retire at age 58 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$77,955$77,260$76,583$75,922$75,276$74,801
2 years$38,591$37,873$37,176$36,501$35,846$35,367
3 years$25,472$24,750$24,055$23,386$22,742$22,274
4 years$18,914$18,194$17,506$16,849$16,220$15,766
5 years$14,980$14,264$13,586$12,941$12,330$11,892
6 years$12,358$11,648$10,979$10,349$9,756$9,335
7 years$10,486$9,782$9,124$8,509$7,934$7,529
8 years$9,082$8,385$7,738$7,138$6,582$6,193
9 years$7,992$7,301$6,664$6,080$5,543$5,171
10 years$7,119$6,435$5,810$5,241$4,723$4,367
11 years$6,406$5,729$5,115$4,561$4,062$3,721
12 years$5,812$5,142$4,540$4,001$3,520$3,195
13 years$5,310$4,647$4,056$3,532$3,070$2,760
14 years$4,880$4,224$3,644$3,135$2,691$2,396
15 years$4,508$3,858$3,290$2,796$2,369$2,089
16 years$4,182$3,540$2,983$2,504$2,094$1,828
17 years$3,895$3,260$2,714$2,250$1,857$1,604
18 years$3,641$3,013$2,478$2,027$1,651$1,411
19 years$3,413$2,792$2,268$1,832$1,471$1,245
20 years$3,208$2,595$2,082$1,659$1,314$1,100
21 years$3,023$2,417$1,915$1,506$1,176$974
22 years$2,856$2,256$1,765$1,369$1,054$863
23 years$2,703$2,110$1,630$1,247$946$766
24 years$2,562$1,977$1,507$1,137$851$681
25 years$2,434$1,855$1,396$1,039$765$606
26 years$2,315$1,744$1,295$950$689$539
27 years$2,206$1,641$1,202$869$622$481
28 years$2,104$1,546$1,118$796$561$429
29 years$2,010$1,459$1,040$730$506$382
30 years$1,922$1,378$969$670$458$341
31 years$1,839$1,302$903$616$414$305
32 years$1,763$1,232$843$566$374$272
33 years$1,691$1,167$787$520$339$244
34 years$1,623$1,106$735$479$307$218
35 years$1,559$1,049$687$441$278$195
36 years$1,499$996$643$406$252$174
37 years$1,443$946$602$374$228$156
38 years$1,389$899$564$345$207$140
39 years$1,339$855$528$318$188$125
40 years$1,291$813$495$293$170$112
41 years$1,245$774$464$270$154$100
42 years$1,202$737$435$250$140$90
43 years$1,161$702$408$230$127$81
44 years$1,122$669$383$213$115$72
45 years$1,084$638$360$196$105$65
46 years$1,049$609$338$181$95$58
47 years$1,015$581$318$168$86$52
48 years$982$555$298$155$78$47
49 years$951$530$281$143$71$42
50 years$922$506$264$132$65$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $944,000, adding $5,242 every year, while hoping to spend $57,599 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: 41/34/25 Blend
57$944,000$944,000$944,000$944,000
58$1,045,695$995,663$981,031$1,080,692
59$1,091,071$983,166$952,611$1,093,852
60$1,139,145$968,125$921,308$1,102,249
61$1,190,131$950,357$886,965$1,110,208
62$1,244,264$929,664$849,418$1,117,722
63$1,301,799$905,838$808,494$1,124,788
64$1,363,018$878,659$764,014$1,131,408
65$1,428,227$847,894$715,789$1,137,589
66$1,497,762$813,297$663,623$1,143,343
67$1,571,990$774,605$607,312$1,148,693
68$1,651,316$731,544$546,640$1,153,665
69$1,736,181$683,821$481,383$1,158,297
70$1,827,070$631,126$411,308$1,162,639
71$1,924,515$573,135$336,170$1,166,751
72$2,029,098$509,500$255,714$1,170,707
73$2,141,459$439,859$169,673$1,174,598
74$2,262,300$363,825$77,770$1,178,533
75$2,392,394$280,992$0$1,182,638
76$2,532,586$190,928$0$1,192,484
77$2,683,808$93,181$0$1,225,320
78$2,847,080$0$0$1,260,669
79$3,023,526$0$0$1,303,621
80$3,214,380$0$0$1,387,885
81$3,420,998$0$0$1,479,209
82$3,644,872$0$0$1,578,266
83$3,887,641$0$0$1,685,795
84$4,151,109$0$0$1,802,607
85$4,437,260$0$0$1,929,598
86$4,748,273$0$0$2,067,750
87$5,086,550$0$0$2,218,145
88$5,454,731$0$0$2,381,975
89$5,855,721$0$0$2,560,549
90$6,292,717$0$0$2,755,309
91$6,769,238$0$0$2,967,843
92$7,289,156$0$0$3,199,897
93$7,856,733$0$0$3,453,395
94$8,476,661$0$0$3,730,453
95$9,154,107$0$0$4,033,403
96$9,894,756$0$0$4,364,811
97$10,704,869$0$0$4,727,503
98$11,591,340$0$0$5,124,589
99$12,561,761$0$0$5,559,498
100$13,624,490$0$0$6,036,001