Can I retire at age 58 with 975,000?

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 $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%15%
1 years$80,515$79,797$79,098$78,415$77,748$76,147
2 years$39,859$39,116$38,397$37,699$37,023$35,417
3 years$26,309$25,563$24,845$24,154$23,489$21,929
4 years$19,535$18,791$18,081$17,402$16,752$15,250
5 years$15,472$14,733$14,032$13,366$12,735$11,294
6 years$12,764$12,030$11,340$10,689$10,077$8,699
7 years$10,830$10,103$9,423$8,788$8,195$6,881
8 years$9,381$8,660$7,992$7,372$6,799$5,547
9 years$8,254$7,540$6,883$6,279$5,725$4,536
10 years$7,353$6,646$6,001$5,413$4,878$3,750
11 years$6,617$5,917$5,283$4,711$4,196$3,127
12 years$6,003$5,311$4,689$4,132$3,636$2,626
13 years$5,485$4,799$4,189$3,648$3,170$2,217
14 years$5,040$4,362$3,764$3,238$2,779$1,880
15 years$4,656$3,985$3,398$2,888$2,447$1,600
16 years$4,320$3,656$3,081$2,586$2,163$1,367
17 years$4,023$3,367$2,804$2,323$1,918$1,170
18 years$3,760$3,112$2,559$2,094$1,705$1,004
19 years$3,525$2,884$2,343$1,892$1,520$863
20 years$3,314$2,680$2,150$1,714$1,357$743
21 years$3,123$2,496$1,978$1,555$1,215$641
22 years$2,949$2,330$1,823$1,414$1,089$553
23 years$2,791$2,179$1,683$1,288$977$478
24 years$2,647$2,042$1,557$1,174$879$413
25 years$2,514$1,916$1,442$1,073$791$358
26 years$2,391$1,801$1,337$981$712$310
27 years$2,278$1,695$1,242$898$642$269
28 years$2,173$1,597$1,154$822$579$233
29 years$2,076$1,507$1,074$754$523$202
30 years$1,985$1,423$1,000$692$473$175
31 years$1,900$1,345$933$636$427$152
32 years$1,820$1,273$870$584$387$132
33 years$1,746$1,205$813$537$350$115
34 years$1,676$1,142$759$494$317$99
35 years$1,610$1,083$710$455$287$86
36 years$1,549$1,028$664$419$260$75
37 years$1,490$977$622$386$236$65
38 years$1,435$928$582$356$214$57
39 years$1,383$883$545$328$194$49
40 years$1,333$840$511$303$176$43
41 years$1,286$799$479$279$159$37
42 years$1,241$761$450$258$145$32
43 years$1,199$725$422$238$131$28
44 years$1,158$691$396$220$119$24
45 years$1,120$659$372$203$108$21
46 years$1,083$629$349$187$98$18
47 years$1,048$600$328$173$89$16
48 years$1,015$573$308$160$81$14
49 years$983$547$290$148$74$12
50 years$952$523$272$137$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $975,000, adding $4,990 every year, while hoping to spend $22,257 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: 63/25/12 Blend
57$975,000$975,000$975,000$975,000
58$1,079,597$1,027,922$1,012,810$1,144,288
59$1,166,035$1,054,609$1,023,058$1,214,889
60$1,260,543$1,081,858$1,032,903$1,288,930
61$1,363,922$1,109,672$1,042,308$1,369,224
62$1,477,051$1,138,056$1,051,235$1,456,380
63$1,600,902$1,167,011$1,059,643$1,551,066
64$1,736,540$1,196,541$1,067,487$1,654,020
65$1,885,142$1,226,647$1,074,723$1,766,051
66$2,048,004$1,257,330$1,081,303$1,888,054
67$2,226,550$1,288,589$1,087,177$2,021,013
68$2,422,352$1,320,424$1,092,291$2,166,010
69$2,637,140$1,352,832$1,096,591$2,324,241
70$2,872,819$1,385,811$1,100,017$2,497,019
71$3,131,488$1,419,358$1,102,509$2,685,793
72$3,415,459$1,453,465$1,104,002$2,892,160
73$3,727,278$1,488,128$1,104,429$3,117,877
74$4,069,752$1,523,337$1,103,718$3,364,881
75$4,445,970$1,559,084$1,101,796$3,635,306
76$4,859,336$1,595,357$1,098,585$3,931,503
77$5,313,603$1,632,144$1,094,001$4,256,063
78$5,812,901$1,669,429$1,087,961$4,611,839
79$6,361,783$1,707,197$1,080,373$5,001,978
80$6,965,263$1,745,429$1,071,145$5,429,944
81$7,628,868$1,784,103$1,060,176$5,899,555
82$8,358,685$1,823,196$1,047,364$6,415,020
83$9,161,421$1,862,682$1,032,601$6,980,974
84$10,044,465$1,902,533$1,015,772$7,602,527
85$11,015,960$1,942,717$996,760$8,285,308
86$12,084,877$1,983,199$975,441$9,035,521
87$13,261,101$2,023,942$951,684$9,860,003
88$14,555,521$2,064,903$925,353$10,766,287
89$15,980,138$2,106,037$896,307$11,762,674
90$17,548,175$2,147,296$864,396$12,858,315
91$19,274,201$2,188,625$829,465$14,063,289
92$21,174,269$2,229,967$791,352$15,388,707
93$23,266,067$2,271,259$749,885$16,846,813
94$25,569,088$2,312,433$704,889$18,451,098
95$28,104,809$2,353,416$656,176$20,216,431
96$30,896,895$2,394,128$603,553$22,159,199
97$33,971,423$2,434,486$546,817$24,297,458
98$37,357,129$2,474,397$485,757$26,651,107
99$41,085,677$2,513,763$420,150$29,242,077
100$45,191,958$2,552,479$349,767$32,094,536