Can I retire at age 58 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$80,432$79,716$79,017$78,334$77,668$76,825
2 years$39,818$39,076$38,358$37,661$36,985$36,136
3 years$26,282$25,537$24,820$24,130$23,465$22,636
4 years$19,515$18,772$18,063$17,384$16,735$15,934
5 years$15,456$14,718$14,017$13,353$12,722$11,950
6 years$12,751$12,018$11,328$10,678$10,066$9,324
7 years$10,819$10,093$9,414$8,779$8,187$7,475
8 years$9,371$8,651$7,984$7,365$6,792$6,111
9 years$8,246$7,533$6,876$6,273$5,720$5,069
10 years$7,346$6,640$5,995$5,407$4,873$4,252
11 years$6,610$5,911$5,278$4,706$4,191$3,600
12 years$5,997$5,305$4,684$4,128$3,632$3,069
13 years$5,479$4,794$4,185$3,644$3,167$2,632
14 years$5,035$4,358$3,760$3,235$2,776$2,269
15 years$4,651$3,981$3,395$2,885$2,445$1,963
16 years$4,315$3,653$3,078$2,583$2,160$1,705
17 years$4,019$3,364$2,801$2,321$1,916$1,485
18 years$3,756$3,108$2,557$2,092$1,703$1,296
19 years$3,521$2,881$2,341$1,890$1,518$1,134
20 years$3,310$2,677$2,148$1,712$1,356$994
21 years$3,120$2,494$1,976$1,554$1,214$873
22 years$2,946$2,328$1,821$1,413$1,088$768
23 years$2,788$2,177$1,681$1,286$976$676
24 years$2,644$2,040$1,555$1,173$878$595
25 years$2,511$1,914$1,440$1,072$790$525
26 years$2,389$1,799$1,336$980$711$464
27 years$2,276$1,693$1,240$897$641$410
28 years$2,171$1,595$1,153$822$579$362
29 years$2,073$1,505$1,073$753$523$320
30 years$1,983$1,421$999$691$472$283
31 years$1,898$1,344$932$635$427$251
32 years$1,819$1,271$869$584$386$222
33 years$1,744$1,204$812$537$349$197
34 years$1,674$1,141$758$494$316$174
35 years$1,609$1,082$709$455$287$154
36 years$1,547$1,027$663$419$260$137
37 years$1,489$976$621$386$235$121
38 years$1,433$927$581$356$213$108
39 years$1,381$882$545$328$193$96
40 years$1,332$839$511$302$175$85
41 years$1,285$799$479$279$159$75
42 years$1,240$761$449$257$144$67
43 years$1,198$725$421$238$131$59
44 years$1,157$691$396$219$119$53
45 years$1,119$659$371$203$108$47
46 years$1,082$628$349$187$98$41
47 years$1,047$600$328$173$89$37
48 years$1,014$572$308$160$81$33
49 years$982$547$289$148$73$29
50 years$951$522$272$137$67$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $974,000, adding $4,430 every year, while hoping to spend $46,695 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: 41/47/12 Blend
57$974,000$974,000$974,000$974,000
58$1,077,918$1,026,296$1,011,199$1,118,113
59$1,138,182$1,026,901$995,391$1,147,416
60$1,203,028$1,025,971$977,488$1,174,144
61$1,272,875$1,023,381$957,371$1,202,042
62$1,348,181$1,018,999$934,916$1,231,236
63$1,429,450$1,012,685$909,990$1,261,869
64$1,517,237$1,004,289$882,458$1,294,101
65$1,612,150$993,655$852,176$1,328,112
66$1,714,860$980,615$818,994$1,364,103
67$1,826,102$964,991$782,756$1,402,301
68$1,946,684$946,595$743,299$1,442,958
69$2,077,497$925,230$700,451$1,486,357
70$2,219,519$900,683$654,033$1,532,813
71$2,373,826$872,733$603,859$1,582,680
72$2,541,601$841,142$549,733$1,636,353
73$2,724,148$805,661$491,452$1,694,271
74$2,922,898$766,025$428,803$1,756,926
75$3,139,429$721,955$361,563$1,824,863
76$3,375,475$673,156$289,500$1,898,694
77$3,632,946$619,313$212,371$1,979,096
78$3,913,944$560,098$129,923$2,066,825
79$4,220,784$495,159$41,893$2,162,721
80$4,556,010$424,128$0$2,267,719
81$4,922,428$346,616$0$2,389,522
82$5,323,124$262,208$0$2,528,779
83$5,761,498$170,471$0$2,681,439
84$6,241,291$70,945$0$2,848,968
85$6,766,624$0$0$3,032,988
86$7,342,037$0$0$3,254,357
87$7,972,526$0$0$3,537,243
88$8,663,595$0$0$3,847,437
89$9,421,307$0$0$4,187,678
90$10,252,336$0$0$4,560,978
91$11,164,038$0$0$4,970,659
92$12,164,510$0$0$5,420,378
93$13,262,676$0$0$5,914,164
94$14,468,363$0$0$6,456,455
95$15,792,395$0$0$7,052,139
96$17,246,699$0$0$7,706,602
97$18,844,412$0$0$8,425,778
98$20,600,006$0$0$9,216,203
99$22,529,424$0$0$10,085,077
100$24,650,232$0$0$11,040,334