Can I retire at age 58 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$79,771$79,061$78,368$77,691$77,030$75,661
2 years$39,491$38,755$38,043$37,351$36,681$35,306
3 years$26,066$25,327$24,616$23,931$23,272$21,934
4 years$19,354$18,618$17,914$17,241$16,598$15,308
5 years$15,329$14,597$13,902$13,243$12,617$11,378
6 years$12,646$11,919$11,235$10,590$9,984$8,797
7 years$10,730$10,010$9,336$8,707$8,119$6,986
8 years$9,294$8,580$7,918$7,304$6,736$5,655
9 years$8,178$7,471$6,820$6,221$5,673$4,644
10 years$7,285$6,585$5,946$5,363$4,833$3,856
11 years$6,555$5,862$5,234$4,667$4,157$3,230
12 years$5,948$5,262$4,645$4,094$3,602$2,724
13 years$5,434$4,755$4,150$3,614$3,141$2,310
14 years$4,994$4,322$3,729$3,208$2,754$1,969
15 years$4,613$3,948$3,367$2,861$2,424$1,684
16 years$4,280$3,623$3,053$2,562$2,143$1,445
17 years$3,986$3,336$2,778$2,302$1,900$1,244
18 years$3,725$3,083$2,536$2,075$1,689$1,073
19 years$3,493$2,857$2,321$1,874$1,506$927
20 years$3,283$2,655$2,130$1,698$1,345$802
21 years$3,094$2,473$1,960$1,541$1,204$695
22 years$2,922$2,308$1,806$1,401$1,079$604
23 years$2,766$2,159$1,668$1,276$968$524
24 years$2,622$2,023$1,542$1,164$870$456
25 years$2,490$1,898$1,428$1,063$783$397
26 years$2,369$1,784$1,325$972$706$346
27 years$2,257$1,679$1,230$889$636$301
28 years$2,153$1,582$1,144$815$574$263
29 years$2,056$1,493$1,064$747$518$229
30 years$1,966$1,410$991$686$468$200
31 years$1,882$1,333$924$630$423$174
32 years$1,804$1,261$862$579$383$152
33 years$1,730$1,194$805$532$347$133
34 years$1,661$1,132$752$490$314$116
35 years$1,596$1,073$703$451$284$102
36 years$1,534$1,019$658$415$258$89
37 years$1,476$968$616$383$233$78
38 years$1,422$920$577$353$212$68
39 years$1,370$874$540$325$192$59
40 years$1,321$832$506$300$174$52
41 years$1,274$792$475$277$158$45
42 years$1,230$754$445$255$143$40
43 years$1,188$719$418$236$130$35
44 years$1,148$685$392$218$118$30
45 years$1,110$653$368$201$107$26
46 years$1,073$623$346$186$97$23
47 years$1,038$595$325$172$88$20
48 years$1,005$568$305$159$80$18
49 years$974$542$287$146$73$16
50 years$943$518$270$135$66$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $966,000, adding $5,627 every year, while hoping to spend $37,202 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: 65/21/14 Blend
57$966,000$966,000$966,000$966,000
58$1,070,336$1,019,138$1,004,165$1,136,009
59$1,139,928$1,029,493$998,222$1,190,967
60$1,215,371$1,039,109$990,833$1,246,158
61$1,297,223$1,047,910$981,910$1,305,541
62$1,386,098$1,055,815$971,362$1,369,525
63$1,482,669$1,062,739$959,092$1,438,560
64$1,587,679$1,068,591$944,999$1,513,143
65$1,701,944$1,073,274$928,979$1,593,823
66$1,826,362$1,076,684$910,919$1,681,204
67$1,961,922$1,078,713$890,706$1,775,954
68$2,109,711$1,079,242$868,217$1,878,808
69$2,270,926$1,078,150$843,327$1,990,578
70$2,446,884$1,075,303$815,903$2,112,160
71$2,639,037$1,070,564$785,806$2,244,543
72$2,848,980$1,063,783$752,892$2,388,816
73$3,078,472$1,054,803$717,009$2,546,182
74$3,329,446$1,043,459$677,999$2,717,969
75$3,604,035$1,029,574$635,698$2,905,639
76$3,904,584$1,012,960$589,931$3,110,806
77$4,233,676$993,420$540,518$3,335,253
78$4,594,157$970,743$487,271$3,580,942
79$4,989,159$944,708$429,993$3,850,042
80$5,422,132$915,078$368,477$4,144,942
81$5,896,878$881,605$302,509$4,468,278
82$6,417,581$844,025$231,864$4,822,958
83$6,988,851$802,059$156,309$5,212,188
84$7,615,766$755,412$75,597$5,639,507
85$8,303,919$703,772$0$6,108,814
86$9,059,470$646,808$0$6,625,985
87$9,889,208$584,173$0$7,206,346
88$10,800,607$515,498$0$7,843,864
89$11,801,904$440,392$0$8,544,354
90$12,902,172$358,445$0$9,314,223
91$14,111,406$269,222$0$10,160,535
92$15,440,618$172,262$0$11,091,078
93$16,901,940$67,082$0$12,114,432
94$18,508,738$0$0$13,240,061
95$20,275,737$0$0$14,489,214
96$22,219,162$0$0$15,880,209
97$24,356,889$0$0$17,410,348
98$26,708,612$0$0$19,093,737
99$29,296,031$0$0$20,945,920
100$32,143,056$0$0$22,984,021