Can I retire at age 58 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$80,680$79,961$79,260$78,576$77,907$77,222
2 years$39,940$39,197$38,476$37,777$37,099$36,408
3 years$26,362$25,615$24,896$24,204$23,537$22,863
4 years$19,575$18,830$18,118$17,438$16,787$16,134
5 years$15,503$14,763$14,060$13,394$12,761$12,131
6 years$12,790$12,055$11,363$10,711$10,097$9,492
7 years$10,852$10,124$9,443$8,806$8,212$7,631
8 years$9,400$8,678$8,008$7,387$6,813$6,256
9 years$8,271$7,556$6,897$6,292$5,737$5,204
10 years$7,368$6,660$6,013$5,424$4,888$4,379
11 years$6,630$5,929$5,294$4,721$4,204$3,718
12 years$6,015$5,322$4,698$4,141$3,643$3,180
13 years$5,496$4,809$4,198$3,655$3,177$2,737
14 years$5,051$4,371$3,772$3,245$2,785$2,366
15 years$4,665$3,993$3,405$2,894$2,452$2,055
16 years$4,328$3,664$3,087$2,591$2,167$1,791
17 years$4,032$3,374$2,809$2,328$1,922$1,565
18 years$3,768$3,118$2,565$2,098$1,709$1,371
19 years$3,532$2,890$2,348$1,896$1,523$1,204
20 years$3,321$2,685$2,155$1,717$1,360$1,059
21 years$3,129$2,501$1,982$1,558$1,217$934
22 years$2,955$2,335$1,827$1,417$1,091$824
23 years$2,797$2,184$1,687$1,290$979$728
24 years$2,652$2,046$1,560$1,177$880$644
25 years$2,519$1,920$1,445$1,075$792$570
26 years$2,396$1,805$1,340$983$714$505
27 years$2,283$1,698$1,244$900$643$448
28 years$2,178$1,600$1,157$824$580$398
29 years$2,080$1,510$1,076$756$524$353
30 years$1,989$1,426$1,003$694$474$314
31 years$1,904$1,348$935$637$428$279
32 years$1,824$1,275$872$585$387$248
33 years$1,750$1,208$814$538$351$221
34 years$1,680$1,145$761$495$317$196
35 years$1,614$1,086$711$456$287$175
36 years$1,552$1,030$665$420$260$156
37 years$1,493$979$623$387$236$139
38 years$1,438$930$583$357$214$123
39 years$1,385$884$546$329$194$110
40 years$1,336$841$512$303$176$98
41 years$1,289$801$480$280$160$87
42 years$1,244$763$450$258$145$78
43 years$1,201$727$423$238$132$69
44 years$1,161$693$397$220$119$62
45 years$1,122$661$373$203$108$55
46 years$1,085$630$350$188$98$49
47 years$1,050$601$329$173$89$44
48 years$1,017$574$309$160$81$39
49 years$985$548$290$148$74$35
50 years$954$524$273$137$67$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $977,000, adding $2,183 every year, while hoping to spend $36,698 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: 88/6/6 Blend
57$977,000$977,000$977,000$977,000
58$1,078,906$1,027,125$1,011,981$1,173,467
59$1,149,908$1,038,407$1,006,836$1,246,624
60$1,226,922$1,049,013$1,000,289$1,321,687
61$1,310,523$1,058,870$992,254$1,403,002
62$1,401,343$1,067,901$982,640$1,491,172
63$1,500,076$1,076,024$971,355$1,586,859
64$1,607,488$1,083,153$958,300$1,690,793
65$1,724,419$1,089,195$943,370$1,803,779
66$1,851,796$1,094,052$926,459$1,926,702
67$1,990,637$1,097,619$907,454$2,060,535
68$2,142,064$1,099,784$886,235$2,206,352
69$2,307,310$1,100,429$862,680$2,365,336
70$2,487,734$1,099,428$836,658$2,538,786
71$2,684,832$1,096,649$808,034$2,728,137
72$2,900,248$1,091,949$776,668$2,934,968
73$3,135,797$1,085,177$742,409$3,161,017
74$3,393,473$1,076,175$705,104$3,408,201
75$3,675,473$1,064,774$664,591$3,678,629
76$3,984,217$1,050,794$620,701$3,974,626
77$4,322,369$1,034,044$573,256$4,298,754
78$4,692,863$1,014,325$522,073$4,653,832
79$5,098,930$991,422$466,957$5,042,971
80$5,544,129$965,110$407,708$5,469,594
81$6,032,379$935,149$344,116$5,937,473
82$6,567,997$901,287$275,959$6,450,767
83$7,155,739$863,256$203,009$7,014,056
84$7,800,841$820,772$125,027$7,632,385
85$8,509,072$773,535$41,761$8,311,316
86$9,286,788$721,230$0$9,056,976
87$10,140,990$663,519$0$9,879,131
88$11,079,389$600,050$0$10,785,254
89$12,110,482$530,447$0$11,780,885
90$13,243,627$454,315$0$12,875,074
91$14,489,137$371,236$0$14,077,795
92$15,858,369$280,768$0$15,400,037
93$17,363,841$182,444$0$16,853,907
94$19,019,341$75,771$0$18,452,746
95$20,840,060$0$0$20,211,253
96$22,842,735$0$0$22,148,251
97$25,045,809$0$0$24,284,587
98$27,469,599$0$0$26,634,960
99$30,136,493$0$0$29,221,083
100$33,071,158$0$0$32,066,875