Can I retire at age 58 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$78,120$77,424$76,745$76,082$75,435$74,431
2 years$38,673$37,953$37,255$36,578$35,922$34,911
3 years$25,526$24,803$24,106$23,436$22,790$21,805
4 years$18,954$18,233$17,543$16,884$16,254$15,302
5 years$15,011$14,295$13,614$12,969$12,356$11,440
6 years$12,384$11,673$11,002$10,371$9,777$8,898
7 years$10,508$9,803$9,143$8,527$7,951$7,110
8 years$9,102$8,403$7,754$7,153$6,596$5,792
9 years$8,008$7,316$6,679$6,093$5,555$4,787
10 years$7,134$6,449$5,822$5,252$4,733$4,002
11 years$6,420$5,741$5,126$4,571$4,071$3,375
12 years$5,825$5,153$4,549$4,009$3,528$2,867
13 years$5,321$4,657$4,064$3,539$3,076$2,449
14 years$4,890$4,233$3,652$3,142$2,697$2,102
15 years$4,517$3,867$3,297$2,802$2,374$1,812
16 years$4,191$3,548$2,989$2,509$2,098$1,567
17 years$3,904$3,267$2,720$2,254$1,861$1,359
18 years$3,648$3,019$2,483$2,032$1,654$1,181
19 years$3,420$2,798$2,273$1,836$1,475$1,029
20 years$3,215$2,600$2,086$1,663$1,317$898
21 years$3,030$2,422$1,919$1,509$1,179$785
22 years$2,862$2,261$1,769$1,372$1,056$687
23 years$2,708$2,114$1,633$1,249$948$602
24 years$2,568$1,981$1,510$1,140$852$528
25 years$2,439$1,859$1,399$1,041$767$464
26 years$2,320$1,747$1,297$952$691$407
27 years$2,210$1,644$1,205$871$623$358
28 years$2,108$1,549$1,120$798$562$315
29 years$2,014$1,462$1,042$732$508$277
30 years$1,926$1,380$971$672$459$244
31 years$1,843$1,305$905$617$415$215
32 years$1,766$1,235$844$567$375$189
33 years$1,694$1,169$788$521$339$167
34 years$1,626$1,108$737$480$307$147
35 years$1,563$1,051$689$442$278$130
36 years$1,502$998$644$407$252$115
37 years$1,446$948$603$375$229$101
38 years$1,392$901$565$345$207$89
39 years$1,341$856$529$318$188$79
40 years$1,293$815$496$294$170$69
41 years$1,248$776$465$271$155$61
42 years$1,204$739$436$250$140$54
43 years$1,163$704$409$231$127$48
44 years$1,124$671$384$213$116$42
45 years$1,087$640$361$197$105$37
46 years$1,051$610$339$182$95$33
47 years$1,017$582$318$168$87$29
48 years$984$556$299$155$79$26
49 years$953$531$281$143$71$23
50 years$924$507$264$133$65$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $946,000, adding $2,103 every year, while hoping to spend $39,586 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: 38/48/14 Blend
57$946,000$946,000$946,000$946,000
58$1,044,661$994,523$979,860$1,079,855
59$1,109,097$1,001,136$970,566$1,111,789
60$1,178,779$1,006,745$959,634$1,142,301
61$1,254,200$1,011,261$946,968$1,174,417
62$1,335,903$1,014,587$932,465$1,208,302
63$1,424,483$1,016,620$916,020$1,244,137
64$1,520,596$1,017,250$897,523$1,282,127
65$1,624,963$1,016,361$876,856$1,322,498
66$1,738,377$1,013,831$853,899$1,365,502
67$1,861,712$1,009,529$828,525$1,411,423
68$1,995,926$1,003,315$800,600$1,460,571
69$2,142,076$995,043$769,985$1,513,295
70$2,301,324$984,557$736,536$1,569,983
71$2,474,949$971,690$700,100$1,631,065
72$2,664,359$956,268$660,519$1,697,019
73$2,871,103$938,105$617,626$1,768,377
74$3,096,887$917,004$571,248$1,845,728
75$3,343,589$892,756$521,203$1,929,728
76$3,613,274$865,141$467,303$2,021,103
77$3,908,220$833,924$409,350$2,120,662
78$4,230,932$798,860$347,136$2,229,299
79$4,584,168$759,685$280,447$2,348,006
80$4,970,968$716,124$209,056$2,477,884
81$5,394,676$667,884$132,729$2,620,153
82$5,858,978$614,655$51,220$2,776,164
83$6,367,931$556,110$0$2,947,416
84$6,926,004$491,904$0$3,140,909
85$7,538,119$421,671$0$3,361,651
86$8,209,700$345,024$0$3,604,058
87$8,946,715$261,557$0$3,870,425
88$9,755,745$170,838$0$4,163,290
89$10,644,035$72,413$0$4,485,457
90$11,619,566$0$0$4,840,027
91$12,691,131$0$0$5,248,491
92$13,868,416$0$0$5,739,411
93$15,162,092$0$0$6,279,005
94$16,583,915$0$0$6,872,194
95$18,146,836$0$0$7,524,399
96$19,865,122$0$0$8,241,593
97$21,754,494$0$0$9,030,357
98$23,832,270$0$0$9,897,940
99$26,117,532$0$0$10,852,332
100$28,631,303$0$0$11,902,332