Can I retire at age 58 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$79,193$78,488$77,800$77,128$76,472$75,705
2 years$39,205$38,474$37,767$37,081$36,415$35,643
3 years$25,877$25,143$24,438$23,758$23,103$22,349
4 years$19,214$18,483$17,784$17,116$16,477$15,748
5 years$15,218$14,491$13,801$13,147$12,526$11,822
6 years$12,554$11,833$11,154$10,514$9,911$9,235
7 years$10,652$9,937$9,269$8,644$8,061$7,412
8 years$9,227$8,518$7,861$7,251$6,687$6,066
9 years$8,119$7,417$6,770$6,176$5,631$5,038
10 years$7,232$6,537$5,903$5,324$4,798$4,231
11 years$6,508$5,820$5,196$4,634$4,127$3,586
12 years$5,905$5,224$4,612$4,064$3,576$3,062
13 years$5,395$4,721$4,120$3,588$3,118$2,629
14 years$4,958$4,291$3,702$3,185$2,734$2,269
15 years$4,579$3,920$3,342$2,841$2,407$1,966
16 years$4,249$3,596$3,030$2,543$2,127$1,710
17 years$3,957$3,312$2,758$2,285$1,886$1,491
18 years$3,698$3,061$2,517$2,059$1,677$1,304
19 years$3,467$2,836$2,304$1,861$1,495$1,143
20 years$3,259$2,636$2,115$1,685$1,335$1,003
21 years$3,071$2,455$1,945$1,530$1,195$882
22 years$2,901$2,292$1,793$1,391$1,071$777
23 years$2,745$2,143$1,655$1,267$961$685
24 years$2,603$2,008$1,531$1,155$864$604
25 years$2,472$1,885$1,418$1,055$778$534
26 years$2,352$1,771$1,315$965$700$472
27 years$2,241$1,667$1,221$883$631$418
28 years$2,137$1,571$1,135$809$570$370
29 years$2,041$1,482$1,056$742$515$328
30 years$1,952$1,399$984$681$465$290
31 years$1,869$1,323$917$625$420$257
32 years$1,791$1,252$856$575$380$228
33 years$1,717$1,185$799$528$344$203
34 years$1,649$1,124$747$486$312$180
35 years$1,584$1,066$698$448$282$160
36 years$1,523$1,011$653$412$256$142
37 years$1,466$961$611$380$232$126
38 years$1,411$913$572$350$210$112
39 years$1,360$868$536$323$190$99
40 years$1,311$826$503$298$173$88
41 years$1,265$786$471$275$157$78
42 years$1,221$749$442$254$142$70
43 years$1,179$713$415$234$129$62
44 years$1,139$680$389$216$117$55
45 years$1,102$649$366$200$106$49
46 years$1,065$619$343$184$97$44
47 years$1,031$590$323$170$88$39
48 years$998$564$303$157$80$34
49 years$966$538$285$145$72$31
50 years$936$514$268$134$66$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $959,000, adding $5,931 every year, while hoping to spend $21,008 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: 52/42/6 Blend
57$959,000$959,000$959,000$959,000
58$1,062,936$1,012,109$997,244$1,116,396
59$1,149,003$1,039,350$1,008,300$1,180,557
60$1,243,145$1,067,222$1,019,021$1,247,501
61$1,346,163$1,095,733$1,029,376$1,319,793
62$1,458,940$1,124,892$1,039,328$1,397,940
63$1,582,447$1,154,707$1,048,841$1,482,498
64$1,717,755$1,185,186$1,057,875$1,574,084
65$1,866,042$1,216,336$1,066,390$1,673,373
66$2,028,606$1,248,164$1,074,342$1,781,109
67$2,206,877$1,280,677$1,081,686$1,898,111
68$2,402,429$1,313,881$1,088,373$2,025,283
69$2,616,997$1,347,781$1,094,353$2,163,615
70$2,852,490$1,382,383$1,099,574$2,314,203
71$3,111,014$1,417,689$1,103,979$2,478,251
72$3,394,885$1,453,703$1,107,511$2,657,084
73$3,706,657$1,490,429$1,110,106$2,852,164
74$4,049,144$1,527,867$1,111,702$3,065,098
75$4,425,442$1,566,019$1,112,230$3,297,658
76$4,838,967$1,604,883$1,111,620$3,551,797
77$5,293,478$1,644,459$1,109,795$3,829,664
78$5,793,119$1,684,744$1,106,680$4,133,626
79$6,342,454$1,725,733$1,102,190$4,466,294
80$6,946,512$1,767,422$1,096,241$4,830,541
81$7,610,834$1,809,803$1,088,743$5,229,533
82$8,341,523$1,852,867$1,079,600$5,666,759
83$9,145,306$1,896,605$1,068,714$6,146,062
84$10,029,592$1,941,004$1,055,981$6,671,677
85$11,002,547$1,986,049$1,041,292$7,248,270
86$12,073,166$2,031,725$1,024,535$7,880,981
87$13,251,361$2,078,012$1,005,589$8,575,476
88$14,548,055$2,124,890$984,331$9,337,995
89$15,975,280$2,172,333$960,630$10,175,416
90$17,546,297$2,220,316$934,350$11,095,318
91$19,275,717$2,268,808$905,348$12,106,050
92$21,179,637$2,317,778$873,474$13,216,814
93$23,275,799$2,367,187$838,574$14,437,751
94$25,583,747$2,416,996$800,483$15,780,034
95$28,125,022$2,467,161$759,032$17,255,975
96$30,923,356$2,517,634$714,041$18,879,142
97$34,004,902$2,568,361$665,325$20,664,488
98$37,398,477$2,619,287$612,689$22,628,488
99$41,135,837$2,670,347$555,930$24,789,300
100$45,251,974$2,721,475$494,834$27,166,932