Can I retire at age 58 with 976,000?

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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$80,597$79,879$79,179$78,495$77,828$74,828
2 years$39,900$39,156$38,436$37,738$37,061$34,075
3 years$26,336$25,589$24,871$24,179$23,513$20,634
4 years$19,555$18,811$18,100$17,420$16,770$14,020
5 years$15,487$14,748$14,046$13,380$12,748$10,135
6 years$12,777$12,043$11,351$10,700$10,087$7,612
7 years$10,841$10,113$9,433$8,797$8,203$5,866
8 years$9,390$8,669$8,000$7,380$6,806$4,603
9 years$8,262$7,548$6,890$6,286$5,731$3,660
10 years$7,361$6,653$6,007$5,418$4,883$2,940
11 years$6,623$5,923$5,289$4,716$4,200$2,380
12 years$6,009$5,316$4,693$4,136$3,639$1,938
13 years$5,490$4,804$4,193$3,652$3,174$1,586
14 years$5,046$4,367$3,768$3,242$2,782$1,303
15 years$4,661$3,989$3,402$2,891$2,450$1,074
16 years$4,324$3,660$3,084$2,589$2,165$887
17 years$4,027$3,371$2,806$2,326$1,920$735
18 years$3,764$3,115$2,562$2,096$1,707$609
19 years$3,529$2,887$2,345$1,894$1,521$506
20 years$3,317$2,682$2,152$1,715$1,359$421
21 years$3,126$2,499$1,980$1,557$1,216$350
22 years$2,952$2,332$1,825$1,415$1,090$292
23 years$2,794$2,181$1,685$1,289$978$243
24 years$2,649$2,044$1,558$1,176$879$203
25 years$2,516$1,918$1,443$1,074$791$169
26 years$2,394$1,803$1,338$982$713$141
27 years$2,280$1,697$1,243$899$643$118
28 years$2,175$1,599$1,155$823$580$98
29 years$2,078$1,508$1,075$755$524$82
30 years$1,987$1,424$1,002$693$473$69
31 years$1,902$1,346$934$636$428$57
32 years$1,822$1,274$871$585$387$48
33 years$1,748$1,206$813$538$350$40
34 years$1,678$1,143$760$495$317$33
35 years$1,612$1,085$711$456$287$28
36 years$1,550$1,029$665$420$260$23
37 years$1,492$978$622$387$236$20
38 years$1,436$929$583$356$214$16
39 years$1,384$884$546$329$194$14
40 years$1,334$841$512$303$176$11
41 years$1,287$800$480$280$160$10
42 years$1,243$762$450$258$145$8
43 years$1,200$726$422$238$131$7
44 years$1,160$692$396$220$119$6
45 years$1,121$660$372$203$108$5
46 years$1,084$630$350$188$98$4
47 years$1,049$601$328$173$89$3
48 years$1,016$574$309$160$81$3
49 years$984$548$290$148$74$2
50 years$953$523$273$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $976,000, adding $2,733 every year, while hoping to spend $56,853 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: 32/40/28 Blend
57$976,000$976,000$976,000$976,000
58$1,078,371$1,026,643$1,011,515$1,103,595
59$1,127,874$1,016,457$984,910$1,112,980
60$1,180,520$1,003,867$955,508$1,117,871
61$1,236,571$988,695$923,155$1,122,029
62$1,296,312$970,751$887,691$1,125,430
63$1,360,055$949,837$848,948$1,128,050
64$1,428,143$925,741$806,750$1,129,871
65$1,500,950$898,240$760,913$1,130,879
66$1,578,889$867,095$711,245$1,131,064
67$1,662,410$832,057$657,546$1,130,421
68$1,752,008$792,860$599,606$1,128,954
69$1,848,226$749,223$537,206$1,126,672
70$1,951,660$700,850$470,118$1,123,596
71$2,062,964$647,427$398,101$1,119,755
72$2,182,856$588,621$320,908$1,115,191
73$2,312,126$524,082$238,277$1,109,960
74$2,451,640$453,439$149,936$1,104,133
75$2,602,350$376,300$55,602$1,097,801
76$2,765,303$292,251$0$1,091,072
77$2,941,648$200,856$0$1,097,545
78$3,132,651$101,653$0$1,122,516
79$3,339,701$0$0$1,149,641
80$3,564,327$0$0$1,181,815
81$3,808,211$0$0$1,265,453
82$4,073,200$0$0$1,356,458
83$4,361,330$0$0$1,455,547
84$4,674,838$0$0$1,563,505
85$5,016,186$0$0$1,681,200
86$5,388,084$0$0$1,809,583
87$5,793,513$0$0$1,949,704
88$6,235,755$0$0$2,102,717
89$6,718,422$0$0$2,269,892
90$7,245,490$0$0$2,452,630
91$7,821,335$0$0$2,652,470
92$8,450,775$0$0$2,871,108
93$9,139,116$0$0$3,110,411
94$9,892,198$0$0$3,372,437
95$10,716,452$0$0$3,659,450
96$11,618,961$0$0$3,973,943
97$12,607,522$0$0$4,318,663
98$13,690,725$0$0$4,696,636
99$14,878,027$0$0$5,111,191
100$16,179,846$0$0$5,566,000