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%16.4%
1 years$80,597$79,879$79,179$78,495$77,828$75,792
2 years$39,900$39,156$38,436$37,738$37,061$35,024
3 years$26,336$25,589$24,871$24,179$23,513$21,539
4 years$19,555$18,811$18,100$17,420$16,770$14,873
5 years$15,487$14,748$14,046$13,380$12,748$10,934
6 years$12,777$12,043$11,351$10,700$10,087$8,358
7 years$10,841$10,113$9,433$8,797$8,203$6,559
8 years$9,390$8,669$8,000$7,380$6,806$5,245
9 years$8,262$7,548$6,890$6,286$5,731$4,253
10 years$7,361$6,653$6,007$5,418$4,883$3,486
11 years$6,623$5,923$5,289$4,716$4,200$2,881
12 years$6,009$5,316$4,693$4,136$3,639$2,397
13 years$5,490$4,804$4,193$3,652$3,174$2,005
14 years$5,046$4,367$3,768$3,242$2,782$1,684
15 years$4,661$3,989$3,402$2,891$2,450$1,420
16 years$4,324$3,660$3,084$2,589$2,165$1,200
17 years$4,027$3,371$2,806$2,326$1,920$1,017
18 years$3,764$3,115$2,562$2,096$1,707$864
19 years$3,529$2,887$2,345$1,894$1,521$735
20 years$3,317$2,682$2,152$1,715$1,359$626
21 years$3,126$2,499$1,980$1,557$1,216$534
22 years$2,952$2,332$1,825$1,415$1,090$456
23 years$2,794$2,181$1,685$1,289$978$390
24 years$2,649$2,044$1,558$1,176$879$334
25 years$2,516$1,918$1,443$1,074$791$285
26 years$2,394$1,803$1,338$982$713$244
27 years$2,280$1,697$1,243$899$643$209
28 years$2,175$1,599$1,155$823$580$179
29 years$2,078$1,508$1,075$755$524$154
30 years$1,987$1,424$1,002$693$473$132
31 years$1,902$1,346$934$636$428$113
32 years$1,822$1,274$871$585$387$97
33 years$1,748$1,206$813$538$350$83
34 years$1,678$1,143$760$495$317$72
35 years$1,612$1,085$711$456$287$61
36 years$1,550$1,029$665$420$260$53
37 years$1,492$978$622$387$236$45
38 years$1,436$929$583$356$214$39
39 years$1,384$884$546$329$194$33
40 years$1,334$841$512$303$176$29
41 years$1,287$800$480$280$160$25
42 years$1,243$762$450$258$145$21
43 years$1,200$726$422$238$131$18
44 years$1,160$692$396$220$119$16
45 years$1,121$660$372$203$108$13
46 years$1,084$630$350$188$98$12
47 years$1,049$601$328$173$89$10
48 years$1,016$574$309$160$81$8
49 years$984$548$290$148$74$7
50 years$953$523$273$137$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $976,000, adding $5,748 every year, while hoping to spend $24,087 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: 54/31/15 Blend
57$976,000$976,000$976,000$976,000
58$1,081,481$1,029,753$1,014,625$1,135,279
59$1,166,164$1,054,583$1,022,987$1,197,419
60$1,258,677$1,079,821$1,030,821$1,261,954
61$1,359,793$1,105,464$1,038,085$1,331,654
62$1,470,365$1,131,505$1,044,734$1,407,016
63$1,591,329$1,157,935$1,050,719$1,488,589
64$1,723,717$1,184,747$1,055,991$1,576,976
65$1,868,666$1,211,929$1,060,496$1,672,841
66$2,027,428$1,239,471$1,064,181$1,776,918
67$2,201,380$1,267,360$1,066,985$1,890,012
68$2,392,041$1,295,581$1,068,849$2,013,015
69$2,601,082$1,324,117$1,069,708$2,146,904
70$2,830,344$1,352,950$1,069,495$2,292,760
71$3,081,855$1,382,061$1,068,140$2,451,771
72$3,357,849$1,411,427$1,065,568$2,625,249
73$3,660,787$1,441,024$1,061,701$2,814,637
74$3,993,378$1,470,825$1,056,459$3,021,527
75$4,358,608$1,500,801$1,049,755$3,247,673
76$4,759,765$1,530,919$1,041,501$3,495,008
77$5,200,472$1,561,145$1,031,603$3,765,662
78$5,684,721$1,591,442$1,019,962$4,061,983
79$6,216,908$1,621,768$1,006,476$4,386,557
80$6,801,877$1,652,079$991,037$4,742,237
81$7,444,964$1,682,326$973,533$5,132,164
82$8,152,049$1,712,459$953,845$5,559,803
83$8,929,609$1,742,421$931,849$6,028,971
84$9,784,780$1,772,151$907,418$6,543,875
85$10,725,427$1,801,585$880,415$7,109,153
86$11,760,211$1,830,653$850,700$7,729,914
87$12,898,678$1,859,281$818,124$8,411,793
88$14,151,345$1,887,387$782,533$9,160,997
89$15,529,799$1,914,887$743,765$9,984,370
90$17,046,809$1,941,686$701,651$10,889,452
91$18,716,442$1,967,688$656,015$11,884,558
92$20,554,200$1,992,785$606,673$12,978,847
93$22,577,163$2,016,866$553,431$14,182,418
94$24,804,151$2,039,810$496,088$15,506,399
95$27,255,901$2,061,487$434,433$16,963,058
96$29,955,264$2,081,761$368,248$18,565,913
97$32,927,419$2,100,485$297,302$20,329,865
98$36,200,110$2,117,503$221,356$22,271,336
99$39,803,909$2,132,649$140,160$24,408,427
100$43,772,505$2,145,746$53,452$26,761,086