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%17.5%
1 years$78,450$77,751$77,070$76,404$75,754$73,447
2 years$38,837$38,113$37,412$36,733$36,073$33,769
3 years$25,634$24,908$24,208$23,535$22,887$20,657
4 years$19,034$18,310$17,617$16,956$16,323$14,185
5 years$15,075$14,355$13,672$13,024$12,408$10,368
6 years$12,436$11,722$11,049$10,415$9,818$7,877
7 years$10,552$9,844$9,182$8,563$7,985$6,143
8 years$9,140$8,438$7,787$7,183$6,624$4,881
9 years$8,042$7,347$6,707$6,118$5,579$3,932
10 years$7,165$6,476$5,847$5,274$4,753$3,200
11 years$6,447$5,765$5,148$4,590$4,088$2,626
12 years$5,849$5,175$4,568$4,026$3,543$2,169
13 years$5,344$4,676$4,082$3,554$3,089$1,801
14 years$4,911$4,251$3,667$3,155$2,708$1,501
15 years$4,536$3,883$3,311$2,814$2,384$1,256
16 years$4,209$3,563$3,002$2,520$2,107$1,053
17 years$3,920$3,281$2,732$2,264$1,868$886
18 years$3,664$3,032$2,494$2,040$1,661$746
19 years$3,435$2,810$2,283$1,843$1,481$630
20 years$3,229$2,611$2,095$1,670$1,323$532
21 years$3,043$2,432$1,927$1,515$1,184$450
22 years$2,874$2,270$1,776$1,378$1,061$381
23 years$2,720$2,123$1,640$1,255$952$323
24 years$2,579$1,989$1,517$1,144$856$274
25 years$2,449$1,867$1,405$1,045$770$232
26 years$2,330$1,755$1,303$956$694$197
27 years$2,220$1,651$1,210$875$626$167
28 years$2,117$1,556$1,125$801$564$142
29 years$2,022$1,468$1,047$735$510$121
30 years$1,934$1,386$975$674$461$103
31 years$1,851$1,311$909$619$416$87
32 years$1,774$1,240$848$569$377$74
33 years$1,701$1,174$792$523$341$63
34 years$1,633$1,113$740$482$309$54
35 years$1,569$1,056$692$443$280$46
36 years$1,509$1,002$647$408$253$39
37 years$1,452$952$606$376$230$33
38 years$1,398$904$567$347$208$28
39 years$1,347$860$531$320$189$24
40 years$1,299$818$498$295$171$20
41 years$1,253$779$467$272$155$17
42 years$1,209$742$438$251$141$15
43 years$1,168$707$411$232$128$13
44 years$1,129$674$386$214$116$11
45 years$1,091$642$362$198$105$9
46 years$1,055$613$340$183$96$8
47 years$1,021$585$320$169$87$7
48 years$989$558$300$156$79$6
49 years$957$533$282$144$72$5
50 years$928$509$265$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $950,000, adding $4,015 every year, while hoping to spend $29,026 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: 47/27/26 Blend
57$950,000$950,000$950,000$950,000
58$1,051,041$1,000,691$985,966$1,092,452
59$1,127,364$1,018,842$988,113$1,140,148
60$1,210,499$1,036,909$989,358$1,188,726
61$1,301,110$1,054,858$989,642$1,240,887
62$1,399,929$1,072,651$988,900$1,296,982
63$1,507,759$1,090,248$987,066$1,357,397
64$1,625,487$1,107,607$984,069$1,422,561
65$1,754,086$1,124,680$979,835$1,492,946
66$1,894,632$1,141,417$974,288$1,569,071
67$2,048,304$1,157,766$967,347$1,651,514
68$2,216,403$1,173,670$958,926$1,740,908
69$2,400,363$1,189,066$948,936$1,837,955
70$2,601,761$1,203,891$937,286$1,943,428
71$2,822,332$1,218,073$923,877$2,058,180
72$3,063,991$1,231,539$908,607$2,183,154
73$3,328,842$1,244,209$891,370$2,319,390
74$3,619,207$1,255,998$872,054$2,468,035
75$3,937,640$1,266,816$850,541$2,630,355
76$4,286,955$1,276,566$826,710$2,807,749
77$4,670,252$1,285,145$800,433$3,001,758
78$5,090,945$1,292,445$771,575$3,214,083
79$5,552,795$1,298,348$739,996$3,446,603
80$6,059,945$1,302,732$705,551$3,701,389
81$6,616,958$1,305,465$668,086$3,980,725
82$7,228,862$1,306,407$627,441$4,287,134
83$7,901,195$1,305,410$583,449$4,623,398
84$8,640,058$1,302,316$535,936$4,992,584
85$9,452,173$1,296,958$484,718$5,398,078
86$10,344,944$1,289,159$429,606$5,843,614
87$11,326,531$1,278,730$370,400$6,333,311
88$12,405,921$1,265,472$306,893$6,871,712
89$13,593,017$1,249,173$238,866$7,463,829
90$14,898,731$1,229,608$166,094$8,115,186
91$16,335,083$1,206,541$88,340$8,831,882
92$17,915,319$1,179,718$5,356$9,620,637
93$19,654,031$1,148,874$0$10,488,866
94$21,567,300$1,113,726$0$11,467,826
95$23,672,841$1,073,976$0$12,546,539
96$25,990,177$1,029,306$0$13,733,538
97$28,540,816$979,383$0$15,039,867
98$31,348,459$923,853$0$16,477,701
99$34,439,220$862,340$0$18,060,459
100$37,841,876$794,450$0$19,802,933