Can I retire at age 58 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$80,267$79,552$78,854$78,173$77,509$75,574
2 years$39,736$38,996$38,279$37,583$36,909$34,972
3 years$26,228$25,484$24,769$24,080$23,417$21,538
4 years$19,475$18,734$18,025$17,348$16,701$14,895
5 years$15,424$14,687$13,988$13,325$12,696$10,967
6 years$12,724$11,993$11,305$10,656$10,046$8,397
7 years$10,797$10,072$9,394$8,761$8,170$6,601
8 years$9,352$8,634$7,967$7,349$6,778$5,288
9 years$8,229$7,517$6,862$6,260$5,708$4,296
10 years$7,330$6,626$5,983$5,396$4,863$3,527
11 years$6,596$5,899$5,267$4,696$4,183$2,921
12 years$5,985$5,294$4,674$4,119$3,625$2,435
13 years$5,468$4,785$4,176$3,637$3,161$2,040
14 years$5,025$4,349$3,752$3,228$2,771$1,717
15 years$4,641$3,973$3,388$2,879$2,439$1,451
16 years$4,306$3,645$3,072$2,578$2,156$1,229
17 years$4,011$3,357$2,795$2,316$1,912$1,044
18 years$3,749$3,102$2,551$2,087$1,700$889
19 years$3,514$2,875$2,336$1,886$1,515$758
20 years$3,304$2,671$2,144$1,708$1,353$647
21 years$3,113$2,488$1,972$1,550$1,211$553
22 years$2,940$2,323$1,817$1,410$1,086$474
23 years$2,783$2,172$1,678$1,284$974$406
24 years$2,638$2,035$1,552$1,171$876$348
25 years$2,506$1,910$1,437$1,069$788$298
26 years$2,384$1,795$1,333$978$710$256
27 years$2,271$1,690$1,238$895$640$220
28 years$2,166$1,592$1,151$820$578$189
29 years$2,069$1,502$1,071$752$521$162
30 years$1,979$1,418$997$690$471$140
31 years$1,894$1,341$930$634$426$120
32 years$1,815$1,269$868$582$385$103
33 years$1,741$1,202$810$536$349$89
34 years$1,671$1,139$757$493$316$76
35 years$1,606$1,080$708$454$286$66
36 years$1,544$1,025$662$418$259$57
37 years$1,485$974$620$385$235$49
38 years$1,430$925$580$355$213$42
39 years$1,378$880$544$327$193$36
40 years$1,329$837$510$302$175$31
41 years$1,282$797$478$278$159$27
42 years$1,237$759$448$257$144$23
43 years$1,195$723$421$237$131$20
44 years$1,155$689$395$219$119$17
45 years$1,116$657$371$202$108$15
46 years$1,080$627$348$187$98$13
47 years$1,045$598$327$173$89$11
48 years$1,012$571$307$159$81$9
49 years$980$545$289$147$73$8
50 years$949$521$272$136$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $972,000, adding $4,088 every year, while hoping to spend $59,542 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: 71/21/8 Blend
57$972,000$972,000$972,000$972,000
58$1,075,361$1,023,845$1,008,779$1,149,972
59$1,121,695$1,010,661$979,221$1,186,647
60$1,170,760$994,836$946,677$1,219,030
61$1,222,772$976,176$910,984$1,252,839
62$1,277,965$954,479$871,972$1,288,199
63$1,336,598$929,529$829,464$1,325,251
64$1,398,952$901,097$783,272$1,364,148
65$1,465,335$868,941$733,202$1,405,064
66$1,536,087$832,807$679,052$1,448,189
67$1,611,575$792,422$620,607$1,493,736
68$1,692,206$747,500$557,648$1,541,940
69$1,778,422$697,740$489,941$1,593,063
70$1,870,712$642,819$417,244$1,647,396
71$1,969,608$582,401$339,306$1,705,261
72$2,075,697$516,127$255,861$1,767,015
73$2,189,619$443,619$166,634$1,833,055
74$2,312,082$364,478$71,337$1,903,822
75$2,443,857$278,280$0$1,979,803
76$2,585,797$184,582$0$2,064,131
77$2,738,832$82,911$0$2,161,482
78$2,903,990$0$0$2,266,451
79$3,082,397$0$0$2,386,098
80$3,275,291$0$0$2,536,214
81$3,484,032$0$0$2,698,705
82$3,710,116$0$0$2,874,739
83$3,955,188$0$0$3,065,602
84$4,221,057$0$0$3,272,709
85$4,509,712$0$0$3,497,616
86$4,823,340$0$0$3,742,032
87$5,164,347$0$0$4,007,840
88$5,535,381$0$0$4,297,109
89$5,939,356$0$0$4,612,120
90$6,379,475$0$0$4,955,377
91$6,859,268$0$0$5,329,641
92$7,382,616$0$0$5,737,947
93$7,953,791$0$0$6,183,638
94$8,577,499$0$0$6,670,393
95$9,258,916$0$0$7,202,262
96$10,003,742$0$0$7,783,703
97$10,818,254$0$0$8,419,625
98$11,709,361$0$0$9,115,434
99$12,684,672$0$0$9,877,082
100$13,752,565$0$0$10,711,121