Can I retire at age 58 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$78,285$77,588$76,907$76,243$75,595$73,146
2 years$38,755$38,033$37,334$36,655$35,998$33,553
3 years$25,580$24,855$24,157$23,485$22,838$20,475
4 years$18,994$18,271$17,580$16,920$16,288$14,025
5 years$15,043$14,325$13,643$12,996$12,382$10,224
6 years$12,410$11,697$11,026$10,393$9,798$7,747
7 years$10,530$9,823$9,162$8,545$7,968$6,024
8 years$9,121$8,420$7,770$7,168$6,610$4,772
9 years$8,025$7,331$6,693$6,106$5,567$3,832
10 years$7,149$6,462$5,835$5,263$4,743$3,110
11 years$6,433$5,753$5,137$4,580$4,079$2,544
12 years$5,837$5,164$4,559$4,018$3,535$2,094
13 years$5,333$4,666$4,073$3,547$3,083$1,733
14 years$4,901$4,242$3,660$3,149$2,702$1,439
15 years$4,527$3,875$3,304$2,808$2,379$1,200
16 years$4,200$3,555$2,996$2,514$2,103$1,003
17 years$3,912$3,274$2,726$2,259$1,864$840
18 years$3,656$3,025$2,488$2,036$1,658$705
19 years$3,427$2,804$2,278$1,840$1,478$593
20 years$3,222$2,606$2,091$1,666$1,320$499
21 years$3,036$2,427$1,923$1,512$1,181$420
22 years$2,868$2,265$1,772$1,375$1,059$354
23 years$2,714$2,119$1,636$1,252$950$299
24 years$2,573$1,985$1,513$1,142$854$253
25 years$2,444$1,863$1,402$1,043$769$213
26 years$2,325$1,751$1,300$954$692$180
27 years$2,215$1,648$1,207$873$624$153
28 years$2,113$1,553$1,122$800$563$129
29 years$2,018$1,465$1,044$733$509$109
30 years$1,930$1,383$973$673$460$92
31 years$1,847$1,308$907$618$415$78
32 years$1,770$1,237$846$568$376$66
33 years$1,698$1,172$790$522$340$56
34 years$1,630$1,111$738$481$308$48
35 years$1,566$1,053$690$442$279$40
36 years$1,506$1,000$646$407$253$34
37 years$1,449$950$604$375$229$29
38 years$1,395$902$566$346$208$24
39 years$1,344$858$530$319$188$21
40 years$1,296$816$497$294$171$18
41 years$1,250$777$466$272$155$15
42 years$1,207$740$437$251$141$13
43 years$1,166$705$410$231$128$11
44 years$1,126$672$385$214$116$9
45 years$1,089$641$362$197$105$8
46 years$1,053$612$340$182$95$7
47 years$1,019$584$319$168$87$6
48 years$987$557$300$156$79$5
49 years$955$532$282$144$72$4
50 years$926$508$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $948,000, adding $2,684 every year, while hoping to spend $51,273 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: 78/17/5 Blend
57$948,000$948,000$948,000$948,000
58$1,047,465$997,221$982,527$1,128,717
59$1,099,752$991,530$960,887$1,176,662
60$1,155,654$983,843$936,804$1,222,252
61$1,215,486$974,006$910,142$1,270,708
62$1,279,592$961,859$880,758$1,322,290
63$1,348,350$947,230$848,504$1,377,286
64$1,422,177$929,940$813,224$1,436,012
65$1,501,528$909,795$774,755$1,498,818
66$1,586,902$886,593$732,928$1,566,088
67$1,678,849$860,120$687,565$1,638,249
68$1,777,973$830,146$638,479$1,715,767
69$1,884,935$796,433$585,477$1,799,160
70$2,000,464$758,724$528,356$1,888,998
71$2,125,360$716,750$466,905$1,985,909
72$2,260,502$670,226$400,902$2,090,588
73$2,406,857$618,851$330,116$2,203,799
74$2,565,487$562,305$254,305$2,326,388
75$2,737,562$500,253$173,219$2,459,285
76$2,924,365$432,337$86,594$2,603,519
77$3,127,310$358,182$0$2,760,223
78$3,347,953$277,390$0$2,930,960
79$3,588,004$189,541$0$3,121,749
80$3,849,344$94,193$0$3,329,504
81$4,134,045$0$0$3,555,923
82$4,444,386$0$0$3,804,581
83$4,782,875$0$0$4,095,040
84$5,152,272$0$0$4,412,051
85$5,555,616$0$0$4,758,225
86$5,996,252$0$0$5,136,438
87$6,477,863$0$0$5,549,854
88$7,004,503$0$0$6,001,957
89$7,580,636$0$0$6,496,585
90$8,211,178$0$0$7,037,962
91$8,901,540$0$0$7,630,738
92$9,657,683$0$0$8,280,037
93$10,486,171$0$0$8,991,500
94$11,394,231$0$0$9,771,340
95$12,389,826$0$0$10,626,399
96$13,481,722$0$0$11,564,212
97$14,679,579$0$0$12,593,082
98$15,994,032$0$0$13,722,149
99$17,436,800$0$0$14,961,485
100$19,020,788$0$0$16,322,183