Can I retire at age 58 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$78,450$77,751$77,070$76,404$75,754$74,901
2 years$38,837$38,113$37,412$36,733$36,073$35,214
3 years$25,634$24,908$24,208$23,535$22,887$22,048
4 years$19,034$18,310$17,617$16,956$16,323$15,512
5 years$15,075$14,355$13,672$13,024$12,408$11,627
6 years$12,436$11,722$11,049$10,415$9,818$9,068
7 years$10,552$9,844$9,182$8,563$7,985$7,266
8 years$9,140$8,438$7,787$7,183$6,624$5,936
9 years$8,042$7,347$6,707$6,118$5,579$4,921
10 years$7,165$6,476$5,847$5,274$4,753$4,126
11 years$6,447$5,765$5,148$4,590$4,088$3,490
12 years$5,849$5,175$4,568$4,026$3,543$2,974
13 years$5,344$4,676$4,082$3,554$3,089$2,549
14 years$4,911$4,251$3,667$3,155$2,708$2,196
15 years$4,536$3,883$3,311$2,814$2,384$1,899
16 years$4,209$3,563$3,002$2,520$2,107$1,648
17 years$3,920$3,281$2,732$2,264$1,868$1,434
18 years$3,664$3,032$2,494$2,040$1,661$1,251
19 years$3,435$2,810$2,283$1,843$1,481$1,094
20 years$3,229$2,611$2,095$1,670$1,323$958
21 years$3,043$2,432$1,927$1,515$1,184$841
22 years$2,874$2,270$1,776$1,378$1,061$739
23 years$2,720$2,123$1,640$1,255$952$650
24 years$2,579$1,989$1,517$1,144$856$572
25 years$2,449$1,867$1,405$1,045$770$504
26 years$2,330$1,755$1,303$956$694$445
27 years$2,220$1,651$1,210$875$626$393
28 years$2,117$1,556$1,125$801$564$347
29 years$2,022$1,468$1,047$735$510$306
30 years$1,934$1,386$975$674$461$271
31 years$1,851$1,311$909$619$416$240
32 years$1,774$1,240$848$569$377$212
33 years$1,701$1,174$792$523$341$188
34 years$1,633$1,113$740$482$309$166
35 years$1,569$1,056$692$443$280$147
36 years$1,509$1,002$647$408$253$130
37 years$1,452$952$606$376$230$115
38 years$1,398$904$567$347$208$102
39 years$1,347$860$531$320$189$91
40 years$1,299$818$498$295$171$80
41 years$1,253$779$467$272$155$71
42 years$1,209$742$438$251$141$63
43 years$1,168$707$411$232$128$56
44 years$1,129$674$386$214$116$50
45 years$1,091$642$362$198$105$44
46 years$1,055$613$340$183$96$39
47 years$1,021$585$320$169$87$35
48 years$989$558$300$156$79$31
49 years$957$533$282$144$72$27
50 years$928$509$265$133$65$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $950,000, adding $5,867 every year, while hoping to spend $58,810 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: 71/6/23 Blend
57$950,000$950,000$950,000$950,000
58$1,052,952$1,002,602$987,877$1,121,275
59$1,097,780$989,156$958,397$1,154,196
60$1,145,209$973,080$925,959$1,182,746
61$1,195,442$954,183$890,401$1,212,577
62$1,248,703$932,264$851,555$1,243,810
63$1,305,232$907,107$809,244$1,276,579
64$1,365,296$878,485$763,284$1,311,033
65$1,429,186$846,160$713,483$1,347,340
66$1,497,217$809,876$659,639$1,385,684
67$1,569,739$769,366$601,543$1,426,270
68$1,647,132$724,345$538,974$1,469,327
69$1,729,813$674,511$471,704$1,515,108
70$1,818,240$619,549$399,492$1,563,894
71$1,912,915$559,120$322,089$1,615,997
72$2,014,386$492,871$239,232$1,671,762
73$2,123,257$420,426$150,651$1,731,575
74$2,240,191$341,388$56,059$1,795,859
75$2,365,913$255,338$0$1,865,087
76$2,501,221$161,835$0$1,950,797
77$2,646,991$60,411$0$2,057,951
78$2,804,185$0$0$2,173,497
79$2,973,860$0$0$2,301,492
80$3,157,177$0$0$2,444,125
81$3,355,411$0$0$2,598,405
82$3,569,966$0$0$2,765,428
83$3,802,382$0$0$2,946,400
84$4,054,356$0$0$3,142,647
85$4,327,752$0$0$3,355,626
86$4,624,619$0$0$3,586,940
87$4,947,212$0$0$3,838,353
88$5,298,014$0$0$4,111,805
89$5,679,751$0$0$4,409,430
90$6,095,428$0$0$4,733,577
91$6,548,350$0$0$5,086,829
92$7,042,151$0$0$5,472,032
93$7,580,835$0$0$5,892,316
94$8,168,807$0$0$6,351,126
95$8,810,916$0$0$6,852,255
96$9,512,500$0$0$7,399,879
97$10,279,436$0$0$7,998,594
98$11,118,194$0$0$8,653,461
99$12,035,899$0$0$9,370,054
100$13,040,395$0$0$10,154,509