Can I retire at age 58 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$80,349$79,634$78,935$78,254$77,588$76,053
2 years$39,777$39,036$38,318$37,622$36,947$35,406
3 years$26,255$25,511$24,794$24,105$23,441$21,943
4 years$19,495$18,753$18,044$17,366$16,718$15,275
5 years$15,440$14,703$14,003$13,339$12,709$11,325
6 years$12,737$12,006$11,316$10,667$10,056$8,732
7 years$10,808$10,082$9,404$8,770$8,178$6,915
8 years$9,361$8,642$7,975$7,357$6,785$5,581
9 years$8,237$7,525$6,869$6,267$5,714$4,570
10 years$7,338$6,633$5,989$5,402$4,868$3,783
11 years$6,603$5,905$5,272$4,701$4,187$3,158
12 years$5,991$5,300$4,679$4,124$3,628$2,655
13 years$5,473$4,789$4,180$3,641$3,164$2,244
14 years$5,030$4,353$3,756$3,232$2,773$1,906
15 years$4,646$3,977$3,391$2,882$2,442$1,625
16 years$4,311$3,649$3,075$2,581$2,158$1,390
17 years$4,015$3,360$2,798$2,319$1,914$1,191
18 years$3,752$3,105$2,554$2,090$1,702$1,024
19 years$3,518$2,878$2,338$1,888$1,517$882
20 years$3,307$2,674$2,146$1,710$1,355$760
21 years$3,116$2,491$1,974$1,552$1,212$656
22 years$2,943$2,325$1,819$1,411$1,087$568
23 years$2,786$2,175$1,680$1,285$975$491
24 years$2,641$2,038$1,553$1,172$877$425
25 years$2,509$1,912$1,439$1,070$789$369
26 years$2,386$1,797$1,334$979$711$320
27 years$2,273$1,691$1,239$896$641$278
28 years$2,169$1,594$1,152$821$578$241
29 years$2,071$1,503$1,072$753$522$209
30 years$1,981$1,420$998$691$472$182
31 years$1,896$1,342$931$634$426$158
32 years$1,817$1,270$868$583$386$138
33 years$1,743$1,203$811$536$349$120
34 years$1,673$1,140$758$493$316$104
35 years$1,607$1,081$708$454$286$91
36 years$1,545$1,026$663$418$259$79
37 years$1,487$975$620$385$235$69
38 years$1,432$926$581$355$213$60
39 years$1,380$881$544$328$193$52
40 years$1,330$838$510$302$175$45
41 years$1,283$798$478$279$159$39
42 years$1,239$760$449$257$144$34
43 years$1,196$724$421$237$131$30
44 years$1,156$690$395$219$119$26
45 years$1,118$658$371$202$108$23
46 years$1,081$628$348$187$98$20
47 years$1,046$599$327$173$89$17
48 years$1,013$572$308$160$81$15
49 years$981$546$289$148$73$13
50 years$950$522$272$136$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $973,000, adding $5,117 every year, while hoping to spend $50,208 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: 73/20/7 Blend
57$973,000$973,000$973,000$973,000
58$1,077,524$1,025,955$1,010,874$1,154,745
59$1,134,011$1,022,806$991,317$1,203,194
60$1,194,576$1,017,820$969,422$1,249,432
61$1,259,583$1,010,854$945,059$1,298,654
62$1,329,431$1,001,756$918,088$1,351,139
63$1,404,556$990,365$888,367$1,407,194
64$1,485,439$976,511$855,746$1,467,160
65$1,572,607$960,013$820,067$1,531,411
66$1,666,640$940,680$781,165$1,600,361
67$1,768,172$918,309$738,870$1,674,468
68$1,877,905$892,685$693,001$1,754,236
69$1,996,605$863,581$643,371$1,840,222
70$2,125,119$830,756$589,783$1,933,041
71$2,264,374$793,956$532,034$2,033,373
72$2,415,391$752,911$469,908$2,141,966
73$2,579,294$707,337$403,183$2,259,649
74$2,757,317$656,931$331,625$2,387,334
75$2,950,819$601,377$254,990$2,526,031
76$3,161,295$540,336$173,024$2,676,853
77$3,390,387$473,453$85,461$2,841,030
78$3,639,907$400,352$0$3,019,916
79$3,911,844$320,636$0$3,215,608
80$4,208,389$233,884$0$3,436,011
81$4,531,955$139,655$0$3,676,583
82$4,885,195$37,478$0$3,939,361
83$5,271,031$0$0$4,226,593
84$5,692,681$0$0$4,556,852
85$6,153,684$0$0$4,926,997
86$6,657,941$0$0$5,331,914
87$7,209,745$0$0$5,775,058
88$7,813,823$0$0$6,260,230
89$8,475,380$0$0$6,791,618
90$9,200,149$0$0$7,373,831
91$9,994,443$0$0$8,011,948
92$10,865,216$0$0$8,711,562
93$11,820,124$0$0$9,478,832
94$12,867,603$0$0$10,320,543
95$14,016,942$0$0$11,244,166
96$15,278,375$0$0$12,257,933
97$16,663,172$0$0$13,370,910
98$18,183,750$0$0$14,593,085
99$19,853,787$0$0$15,935,460
100$21,688,349$0$0$17,410,154