Can I retire at age 58 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$78,037$77,342$76,664$76,002$75,356$72,567
2 years$38,632$37,913$37,215$36,539$35,884$33,105
3 years$25,499$24,776$24,081$23,411$22,766$20,086
4 years$18,934$18,213$17,525$16,866$16,237$13,675
5 years$14,996$14,279$13,600$12,955$12,343$9,906
6 years$12,371$11,660$10,991$10,360$9,767$7,457
7 years$10,497$9,792$9,133$8,518$7,943$5,759
8 years$9,092$8,394$7,746$7,145$6,589$4,530
9 years$8,000$7,308$6,671$6,086$5,549$3,611
10 years$7,127$6,442$5,816$5,246$4,728$2,908
11 years$6,413$5,735$5,121$4,566$4,066$2,360
12 years$5,818$5,147$4,544$4,005$3,524$1,928
13 years$5,316$4,652$4,060$3,536$3,073$1,582
14 years$4,885$4,228$3,648$3,139$2,694$1,303
15 years$4,513$3,863$3,294$2,799$2,372$1,077
16 years$4,187$3,544$2,986$2,506$2,096$892
17 years$3,900$3,264$2,717$2,252$1,859$741
18 years$3,645$3,016$2,481$2,029$1,653$616
19 years$3,417$2,795$2,271$1,834$1,473$513
20 years$3,212$2,597$2,084$1,661$1,316$428
21 years$3,027$2,419$1,917$1,507$1,177$357
22 years$2,859$2,258$1,767$1,370$1,055$299
23 years$2,705$2,112$1,631$1,248$947$250
24 years$2,565$1,979$1,509$1,138$852$209
25 years$2,436$1,857$1,397$1,040$766$175
26 years$2,318$1,745$1,296$951$690$146
27 years$2,208$1,643$1,203$870$622$123
28 years$2,106$1,548$1,119$797$561$103
29 years$2,012$1,460$1,041$731$507$86
30 years$1,924$1,379$970$671$458$72
31 years$1,841$1,304$904$616$414$60
32 years$1,764$1,233$843$566$375$51
33 years$1,692$1,168$788$521$339$42
34 years$1,625$1,107$736$479$307$36
35 years$1,561$1,050$688$441$278$30
36 years$1,501$997$644$406$252$25
37 years$1,444$947$602$374$228$21
38 years$1,391$900$564$345$207$18
39 years$1,340$855$529$318$188$15
40 years$1,292$814$495$293$170$12
41 years$1,246$775$464$271$154$10
42 years$1,203$738$436$250$140$9
43 years$1,162$703$409$231$127$7
44 years$1,123$670$384$213$115$6
45 years$1,085$639$360$197$105$5
46 years$1,050$610$338$182$95$4
47 years$1,016$582$318$168$86$4
48 years$983$555$299$155$78$3
49 years$952$530$281$143$71$3
50 years$923$507$264$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $945,000, adding $5,859 every year, while hoping to spend $33,398 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: 78/6/16 Blend
57$945,000$945,000$945,000$945,000
58$1,047,434$997,349$982,701$1,125,074
59$1,118,737$1,010,683$980,086$1,190,423
60$1,196,193$1,023,552$976,265$1,257,278
61$1,280,396$1,035,897$971,160$1,329,689
62$1,371,996$1,047,656$964,694$1,408,201
63$1,471,711$1,058,762$956,783$1,493,410
64$1,580,329$1,069,146$947,339$1,585,978
65$1,698,720$1,078,731$936,272$1,686,630
66$1,827,838$1,087,438$923,486$1,796,166
67$1,968,735$1,095,180$908,880$1,915,471
68$2,122,570$1,101,867$892,351$2,045,514
69$2,290,615$1,107,402$873,788$2,187,368
70$2,474,275$1,111,682$853,078$2,342,214
71$2,675,094$1,114,597$830,098$2,511,352
72$2,894,773$1,116,031$804,725$2,696,216
73$3,135,183$1,115,860$776,827$2,898,386
74$3,398,387$1,113,953$746,266$3,119,604
75$3,686,656$1,110,170$712,899$3,361,789
76$4,002,489$1,104,363$676,576$3,627,056
77$4,348,641$1,096,374$637,139$3,917,737
78$4,728,144$1,086,039$594,426$4,236,401
79$5,144,339$1,073,179$548,263$4,585,880
80$5,600,904$1,057,607$498,472$4,969,295
81$6,101,892$1,039,125$444,867$5,390,085
82$6,651,766$1,017,524$387,251$5,852,042
83$7,255,443$992,579$325,420$6,359,345
84$7,918,339$964,056$259,163$6,916,599
85$8,646,419$931,704$188,254$7,528,880
86$9,446,257$895,261$112,464$8,201,782
87$10,325,092$854,445$31,548$8,941,472
88$11,290,900$808,962$0$9,754,744
89$12,352,470$758,499$0$10,658,446
90$13,519,481$702,725$0$11,657,832
91$14,802,600$641,291$0$12,756,656
92$16,213,578$573,826$0$13,964,995
93$17,765,359$499,940$0$15,293,953
94$19,472,210$419,221$0$16,755,764
95$21,349,845$331,233$0$18,363,910
96$23,415,580$235,514$0$20,133,243
97$25,688,494$131,579$0$22,080,134
98$28,189,607$18,913$0$24,222,618
99$30,942,082$0$0$26,580,570
100$33,971,439$0$0$29,182,692