Can I retire at age 58 with 972,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%16.7%
1 years$80,267$79,552$78,854$78,173$77,509$75,390
2 years$39,736$38,996$38,279$37,583$36,909$34,790
3 years$26,228$25,484$24,769$24,080$23,417$21,364
4 years$19,475$18,734$18,025$17,348$16,701$14,730
5 years$15,424$14,687$13,988$13,325$12,696$10,812
6 years$12,724$11,993$11,305$10,656$10,046$8,251
7 years$10,797$10,072$9,394$8,761$8,170$6,464
8 years$9,352$8,634$7,967$7,349$6,778$5,160
9 years$8,229$7,517$6,862$6,260$5,708$4,176
10 years$7,330$6,626$5,983$5,396$4,863$3,417
11 years$6,596$5,899$5,267$4,696$4,183$2,818
12 years$5,985$5,294$4,674$4,119$3,625$2,340
13 years$5,468$4,785$4,176$3,637$3,161$1,953
14 years$5,025$4,349$3,752$3,228$2,771$1,637
15 years$4,641$3,973$3,388$2,879$2,439$1,377
16 years$4,306$3,645$3,072$2,578$2,156$1,162
17 years$4,011$3,357$2,795$2,316$1,912$983
18 years$3,749$3,102$2,551$2,087$1,700$833
19 years$3,514$2,875$2,336$1,886$1,515$707
20 years$3,304$2,671$2,144$1,708$1,353$601
21 years$3,113$2,488$1,972$1,550$1,211$511
22 years$2,940$2,323$1,817$1,410$1,086$436
23 years$2,783$2,172$1,678$1,284$974$372
24 years$2,638$2,035$1,552$1,171$876$317
25 years$2,506$1,910$1,437$1,069$788$271
26 years$2,384$1,795$1,333$978$710$231
27 years$2,271$1,690$1,238$895$640$198
28 years$2,166$1,592$1,151$820$578$169
29 years$2,069$1,502$1,071$752$521$145
30 years$1,979$1,418$997$690$471$124
31 years$1,894$1,341$930$634$426$106
32 years$1,815$1,269$868$582$385$91
33 years$1,741$1,202$810$536$349$78
34 years$1,671$1,139$757$493$316$66
35 years$1,606$1,080$708$454$286$57
36 years$1,544$1,025$662$418$259$49
37 years$1,485$974$620$385$235$42
38 years$1,430$925$580$355$213$36
39 years$1,378$880$544$327$193$31
40 years$1,329$837$510$302$175$26
41 years$1,282$797$478$278$159$22
42 years$1,237$759$448$257$144$19
43 years$1,195$723$421$237$131$16
44 years$1,155$689$395$219$119$14
45 years$1,116$657$371$202$108$12
46 years$1,080$627$348$187$98$10
47 years$1,045$598$327$173$89$9
48 years$1,012$571$307$159$81$8
49 years$980$545$289$147$73$7
50 years$949$521$272$136$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $972,000, adding $2,237 every year, while hoping to spend $38,842 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: 65/7/28 Blend
57$972,000$972,000$972,000$972,000
58$1,073,451$1,021,935$1,006,869$1,135,139
59$1,141,616$1,030,683$999,272$1,185,861
60$1,215,431$1,038,557$990,118$1,236,768
61$1,295,433$1,045,474$979,315$1,291,561
62$1,382,210$1,051,345$966,765$1,350,628
63$1,476,409$1,056,074$952,365$1,414,396
64$1,578,743$1,059,562$936,009$1,483,338
65$1,689,995$1,061,701$917,586$1,557,973
66$1,811,026$1,062,376$896,977$1,638,878
67$1,942,785$1,061,467$874,060$1,726,686
68$2,086,315$1,058,845$848,707$1,822,099
69$2,242,764$1,054,373$820,784$1,925,891
70$2,413,396$1,047,907$790,150$2,038,916
71$2,599,601$1,039,293$756,658$2,162,115
72$2,802,911$1,028,369$720,156$2,296,530
73$3,025,009$1,014,960$680,483$2,443,308
74$3,267,752$998,885$637,471$2,603,717
75$3,533,182$979,950$590,946$2,779,154
76$3,823,547$957,948$540,723$2,971,163
77$4,141,325$932,663$486,613$3,181,446
78$4,489,240$903,863$428,414$3,411,881
79$4,870,296$871,306$365,920$3,664,542
80$5,287,798$834,733$298,911$3,941,714
81$5,745,390$793,871$227,160$4,245,921
82$6,247,080$748,431$150,430$4,579,944
83$6,797,285$698,107$68,473$4,946,855
84$7,400,872$642,578$0$5,350,038
85$8,063,197$581,500$0$5,798,904
86$8,790,164$514,514$0$6,314,099
87$9,588,274$441,239$0$6,879,772
88$10,464,688$361,270$0$7,501,023
89$11,427,297$274,183$0$8,183,472
90$12,484,791$179,528$0$8,933,311
91$13,646,745$76,830$0$9,757,361
92$14,923,706$0$0$10,663,141
93$16,327,294$0$0$11,661,585
94$17,870,311$0$0$12,765,788
95$19,566,862$0$0$13,979,934
96$21,432,484$0$0$15,315,152
97$23,484,299$0$0$16,783,703
98$25,741,169$0$0$18,399,099
99$28,223,876$0$0$20,176,224
100$30,955,318$0$0$22,131,478