Can I retire at age 58 with 958,000?

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 $958,000?

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$79,111$78,406$77,719$77,048$76,392$75,375
2 years$39,164$38,434$37,727$37,042$36,377$35,354
3 years$25,850$25,117$24,412$23,733$23,079$22,082
4 years$19,194$18,464$17,766$17,098$16,460$15,497
5 years$15,202$14,476$13,787$13,133$12,513$11,585
6 years$12,541$11,821$11,142$10,503$9,901$9,011
7 years$10,641$9,927$9,259$8,635$8,052$7,200
8 years$9,217$8,509$7,852$7,244$6,680$5,865
9 years$8,110$7,409$6,763$6,170$5,626$4,848
10 years$7,225$6,531$5,896$5,319$4,793$4,053
11 years$6,501$5,814$5,191$4,629$4,122$3,418
12 years$5,898$5,218$4,607$4,060$3,572$2,903
13 years$5,389$4,716$4,116$3,584$3,115$2,480
14 years$4,952$4,286$3,698$3,182$2,731$2,129
15 years$4,575$3,916$3,339$2,838$2,404$1,835
16 years$4,244$3,593$3,027$2,541$2,125$1,587
17 years$3,953$3,309$2,755$2,283$1,884$1,376
18 years$3,695$3,057$2,515$2,057$1,675$1,196
19 years$3,464$2,833$2,302$1,859$1,493$1,042
20 years$3,256$2,633$2,113$1,684$1,334$910
21 years$3,068$2,453$1,943$1,528$1,194$795
22 years$2,898$2,289$1,791$1,389$1,070$696
23 years$2,743$2,141$1,654$1,265$960$610
24 years$2,600$2,006$1,529$1,154$863$535
25 years$2,470$1,883$1,417$1,054$777$470
26 years$2,350$1,769$1,314$964$700$413
27 years$2,238$1,665$1,220$882$631$363
28 years$2,135$1,569$1,134$808$569$319
29 years$2,039$1,480$1,055$741$514$281
30 years$1,950$1,398$983$680$464$247
31 years$1,867$1,322$916$625$420$218
32 years$1,789$1,250$855$574$380$192
33 years$1,716$1,184$798$528$344$169
34 years$1,647$1,122$746$486$311$149
35 years$1,582$1,065$697$447$282$131
36 years$1,522$1,010$652$412$255$116
37 years$1,464$960$611$379$231$102
38 years$1,410$912$572$350$210$90
39 years$1,358$867$536$322$190$80
40 years$1,310$825$502$297$173$70
41 years$1,264$785$471$274$157$62
42 years$1,220$748$442$253$142$55
43 years$1,178$713$414$234$129$48
44 years$1,138$679$389$216$117$43
45 years$1,100$648$365$199$106$38
46 years$1,064$618$343$184$96$33
47 years$1,030$590$322$170$88$29
48 years$997$563$303$157$80$26
49 years$965$538$285$145$72$23
50 years$935$514$268$134$66$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $958,000, adding $3,268 every year, while hoping to spend $24,255 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: 42/49/9 Blend
57$958,000$958,000$958,000$958,000
58$1,059,087$1,008,313$993,464$1,100,642
59$1,141,307$1,031,913$1,000,938$1,153,561
60$1,231,100$1,055,857$1,007,849$1,208,128
61$1,329,214$1,080,135$1,014,154$1,266,663
62$1,436,470$1,104,738$1,019,804$1,329,538
63$1,553,774$1,129,655$1,024,752$1,397,161
64$1,682,123$1,154,872$1,028,945$1,469,982
65$1,822,614$1,180,375$1,032,329$1,548,497
66$1,976,456$1,206,149$1,034,848$1,633,252
67$2,144,980$1,232,176$1,036,441$1,724,849
68$2,329,652$1,258,436$1,037,045$1,823,949
69$2,532,085$1,284,909$1,036,595$1,931,284
70$2,754,058$1,311,569$1,035,022$2,047,657
71$2,997,529$1,338,393$1,032,252$2,173,955
72$3,264,655$1,365,352$1,028,210$2,311,155
73$3,557,811$1,392,415$1,022,816$2,460,333
74$3,879,613$1,419,550$1,015,986$2,622,676
75$4,232,946$1,446,719$1,007,633$2,799,491
76$4,620,982$1,473,885$997,665$2,992,220
77$5,047,222$1,501,004$985,986$3,202,450
78$5,515,517$1,528,032$972,495$3,431,932
79$6,030,112$1,554,918$957,086$3,682,597
80$6,595,685$1,581,611$939,650$3,956,570
81$7,217,387$1,608,052$920,071$4,256,197
82$7,900,894$1,634,180$898,227$4,584,063
83$8,652,460$1,659,930$873,992$4,943,015
84$9,478,975$1,685,230$847,234$5,336,194
85$10,388,028$1,710,004$817,815$5,767,062
86$11,387,985$1,734,172$785,590$6,239,434
87$12,488,059$1,757,646$750,406$6,757,517
88$13,698,403$1,780,333$712,107$7,325,947
89$15,030,204$1,802,133$670,527$7,949,835
90$16,495,788$1,822,941$625,492$8,634,816
91$18,108,735$1,842,641$576,823$9,387,100
92$19,884,009$1,861,114$524,330$10,213,534
93$21,838,100$1,878,230$467,816$11,121,665
94$23,989,174$1,893,851$407,076$12,119,810
95$26,357,250$1,907,831$341,894$13,217,142
96$28,964,388$1,920,012$272,045$14,423,767
97$31,834,892$1,930,230$197,296$15,750,830
98$34,995,546$1,938,307$117,400$17,210,611
99$38,475,862$1,944,054$32,104$18,816,652
100$42,308,360$1,947,272$0$20,583,874