Can I retire at age 58 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$80,515$79,797$79,098$78,415$77,748$77,388
2 years$39,859$39,116$38,397$37,699$37,023$36,659
3 years$26,309$25,563$24,845$24,154$23,489$23,133
4 years$19,535$18,791$18,081$17,402$16,752$16,407
5 years$15,472$14,733$14,032$13,366$12,735$12,401
6 years$12,764$12,030$11,340$10,689$10,077$9,755
7 years$10,830$10,103$9,423$8,788$8,195$7,886
8 years$9,381$8,660$7,992$7,372$6,799$6,502
9 years$8,254$7,540$6,883$6,279$5,725$5,441
10 years$7,353$6,646$6,001$5,413$4,878$4,606
11 years$6,617$5,917$5,283$4,711$4,196$3,935
12 years$6,003$5,311$4,689$4,132$3,636$3,387
13 years$5,485$4,799$4,189$3,648$3,170$2,933
14 years$5,040$4,362$3,764$3,238$2,779$2,553
15 years$4,656$3,985$3,398$2,888$2,447$2,231
16 years$4,320$3,656$3,081$2,586$2,163$1,958
17 years$4,023$3,367$2,804$2,323$1,918$1,723
18 years$3,760$3,112$2,559$2,094$1,705$1,520
19 years$3,525$2,884$2,343$1,892$1,520$1,345
20 years$3,314$2,680$2,150$1,714$1,357$1,192
21 years$3,123$2,496$1,978$1,555$1,215$1,058
22 years$2,949$2,330$1,823$1,414$1,089$941
23 years$2,791$2,179$1,683$1,288$977$837
24 years$2,647$2,042$1,557$1,174$879$747
25 years$2,514$1,916$1,442$1,073$791$666
26 years$2,391$1,801$1,337$981$712$595
27 years$2,278$1,695$1,242$898$642$532
28 years$2,173$1,597$1,154$822$579$476
29 years$2,076$1,507$1,074$754$523$426
30 years$1,985$1,423$1,000$692$473$381
31 years$1,900$1,345$933$636$427$342
32 years$1,820$1,273$870$584$387$306
33 years$1,746$1,205$813$537$350$275
34 years$1,676$1,142$759$494$317$247
35 years$1,610$1,083$710$455$287$221
36 years$1,549$1,028$664$419$260$199
37 years$1,490$977$622$386$236$178
38 years$1,435$928$582$356$214$160
39 years$1,383$883$545$328$194$144
40 years$1,333$840$511$303$176$129
41 years$1,286$799$479$279$159$116
42 years$1,241$761$450$258$145$105
43 years$1,199$725$422$238$131$94
44 years$1,158$691$396$220$119$84
45 years$1,120$659$372$203$108$76
46 years$1,083$629$349$187$98$68
47 years$1,048$600$328$173$89$61
48 years$1,015$573$308$160$81$55
49 years$983$547$290$148$74$50
50 years$952$523$272$137$67$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $975,000, adding $5,900 every year, while hoping to spend $55,694 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: 33/47/20 Blend
57$975,000$975,000$975,000$975,000
58$1,080,536$1,028,861$1,013,748$1,109,363
59$1,131,493$1,020,017$988,451$1,122,447
60$1,185,780$1,008,873$960,439$1,131,023
61$1,243,680$995,258$929,564$1,139,106
62$1,305,499$978,990$895,668$1,146,686
63$1,371,575$959,875$858,589$1,153,757
64$1,442,278$937,711$818,153$1,160,317
65$1,518,012$912,281$774,184$1,166,371
66$1,599,224$883,357$726,493$1,171,929
67$1,686,399$850,696$674,885$1,177,008
68$1,780,074$814,043$619,156$1,181,635
69$1,880,837$773,126$559,093$1,185,846
70$1,989,332$727,659$494,472$1,189,689
71$2,106,267$677,338$425,061$1,193,223
72$2,232,422$621,843$350,616$1,196,524
73$2,368,651$560,835$270,884$1,199,683
74$2,515,894$493,957$185,599$1,202,810
75$2,675,184$420,829$94,485$1,206,039
76$2,847,655$341,052$0$1,209,523
77$3,034,556$254,203$0$1,214,035
78$3,237,258$159,837$0$1,240,757
79$3,457,271$57,482$0$1,269,820
80$3,696,254$0$0$1,301,583
81$3,956,034$0$0$1,364,048
82$4,238,618$0$0$1,464,462
83$4,546,216$0$0$1,573,899
84$4,881,260$0$0$1,693,241
85$5,246,425$0$0$1,823,458
86$5,644,657$0$0$1,965,618
87$6,079,195$0$0$2,120,898
88$6,553,608$0$0$2,290,593
89$7,071,823$0$0$2,476,127
90$7,638,163$0$0$2,679,070
91$8,257,387$0$0$2,901,151
92$8,934,737$0$0$3,144,271
93$9,675,981$0$0$3,410,527
94$10,487,474$0$0$3,702,225
95$11,376,213$0$0$4,021,907
96$12,349,902$0$0$4,372,371
97$13,417,027$0$0$4,756,699
98$14,586,933$0$0$5,178,287
99$15,869,912$0$0$5,640,874
100$17,277,302$0$0$6,148,578