Can I retire at age 58 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$78,946$78,242$77,556$76,887$76,233$75,500
2 years$39,082$38,354$37,649$36,965$36,301$35,563
3 years$25,796$25,065$24,361$23,684$23,031$22,310
4 years$19,154$18,425$17,729$17,063$16,426$15,728
5 years$15,170$14,446$13,758$13,106$12,487$11,814
6 years$12,515$11,796$11,119$10,481$9,880$9,233
7 years$10,619$9,906$9,240$8,617$8,035$7,415
8 years$9,198$8,491$7,836$7,228$6,666$6,071
9 years$8,093$7,393$6,749$6,157$5,614$5,045
10 years$7,210$6,517$5,884$5,307$4,783$4,240
11 years$6,488$5,802$5,180$4,619$4,114$3,596
12 years$5,886$5,207$4,597$4,052$3,565$3,072
13 years$5,378$4,706$4,107$3,577$3,109$2,640
14 years$4,942$4,277$3,691$3,175$2,725$2,280
15 years$4,565$3,908$3,332$2,832$2,399$1,977
16 years$4,235$3,585$3,021$2,535$2,121$1,720
17 years$3,945$3,302$2,749$2,278$1,880$1,501
18 years$3,687$3,051$2,509$2,053$1,672$1,314
19 years$3,456$2,828$2,297$1,855$1,490$1,152
20 years$3,249$2,628$2,108$1,680$1,331$1,012
21 years$3,062$2,447$1,939$1,525$1,191$891
22 years$2,892$2,285$1,787$1,386$1,068$785
23 years$2,737$2,137$1,650$1,263$958$692
24 years$2,595$2,002$1,526$1,152$861$612
25 years$2,465$1,879$1,414$1,052$775$541
26 years$2,345$1,766$1,311$962$698$478
27 years$2,234$1,662$1,217$880$630$424
28 years$2,131$1,566$1,132$806$568$375
29 years$2,035$1,477$1,053$740$513$333
30 years$1,946$1,395$981$679$463$295
31 years$1,863$1,319$915$623$419$262
32 years$1,785$1,248$853$573$379$233
33 years$1,712$1,182$797$527$343$206
34 years$1,644$1,120$744$485$311$183
35 years$1,579$1,062$696$446$281$163
36 years$1,518$1,008$651$411$255$145
37 years$1,461$958$609$379$231$129
38 years$1,407$910$571$349$209$114
39 years$1,356$865$535$322$190$102
40 years$1,307$823$501$297$172$91
41 years$1,261$784$470$274$156$81
42 years$1,217$746$441$253$142$72
43 years$1,175$711$414$233$129$64
44 years$1,136$678$388$215$117$57
45 years$1,098$646$365$199$106$50
46 years$1,062$617$342$184$96$45
47 years$1,028$589$322$170$87$40
48 years$995$562$302$157$79$36
49 years$963$537$284$145$72$32
50 years$933$513$267$134$65$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $956,000, adding $4,798 every year, while hoping to spend $59,130 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: 49/36/15 Blend
57$956,000$956,000$956,000$956,000
58$1,058,461$1,007,793$992,975$1,105,707
59$1,103,510$994,261$963,326$1,125,256
60$1,151,173$978,084$930,702$1,139,970
61$1,201,652$959,071$894,940$1,154,653
62$1,255,173$937,017$855,872$1,169,321
63$1,311,977$911,707$813,321$1,183,997
64$1,372,331$882,913$767,100$1,198,712
65$1,436,528$850,395$717,016$1,213,500
66$1,504,885$813,896$662,868$1,228,407
67$1,577,753$773,146$604,444$1,243,487
68$1,655,513$727,860$541,522$1,258,804
69$1,738,585$677,735$473,872$1,274,435
70$1,827,428$622,451$401,254$1,290,470
71$1,922,545$561,671$323,416$1,307,014
72$2,024,489$495,037$240,095$1,324,190
73$2,133,866$422,172$151,017$1,342,141
74$2,251,339$342,678$55,895$1,361,030
75$2,377,639$256,132$0$1,381,046
76$2,513,567$162,091$0$1,409,707
77$2,660,001$60,084$0$1,449,980
78$2,817,909$0$0$1,493,244
79$2,988,350$0$0$1,559,834
80$3,172,491$0$0$1,657,571
81$3,371,614$0$0$1,763,345
82$3,587,127$0$0$1,877,914
83$3,820,577$0$0$2,002,112
84$4,073,668$0$0$2,136,856
85$4,348,270$0$0$2,283,157
86$4,646,444$0$0$2,442,123
87$4,970,452$0$0$2,614,974
88$5,322,787$0$0$2,803,056
89$5,706,188$0$0$3,007,844
90$6,123,671$0$0$3,230,965
91$6,578,554$0$0$3,474,208
92$7,074,489$0$0$3,739,543
93$7,615,494$0$0$4,029,138
94$8,205,993$0$0$4,345,379
95$8,850,855$0$0$4,690,892
96$9,555,441$0$0$5,068,570
97$10,325,650$0$0$5,481,596
98$11,167,981$0$0$5,933,475
99$12,089,587$0$0$6,428,068
100$13,098,345$0$0$6,969,625