Can I retire at age 58 with 977,000?

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 $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%12.3%
1 years$80,680$79,961$79,260$78,576$77,907$77,158
2 years$39,940$39,197$38,476$37,777$37,099$36,344
3 years$26,362$25,615$24,896$24,204$23,537$22,800
4 years$19,575$18,830$18,118$17,438$16,787$16,073
5 years$15,503$14,763$14,060$13,394$12,761$12,073
6 years$12,790$12,055$11,363$10,711$10,097$9,436
7 years$10,852$10,124$9,443$8,806$8,212$7,577
8 years$9,400$8,678$8,008$7,387$6,813$6,205
9 years$8,271$7,556$6,897$6,292$5,737$5,156
10 years$7,368$6,660$6,013$5,424$4,888$4,333
11 years$6,630$5,929$5,294$4,721$4,204$3,675
12 years$6,015$5,322$4,698$4,141$3,643$3,139
13 years$5,496$4,809$4,198$3,655$3,177$2,698
14 years$5,051$4,371$3,772$3,245$2,785$2,330
15 years$4,665$3,993$3,405$2,894$2,452$2,020
16 years$4,328$3,664$3,087$2,591$2,167$1,758
17 years$4,032$3,374$2,809$2,328$1,922$1,534
18 years$3,768$3,118$2,565$2,098$1,709$1,342
19 years$3,532$2,890$2,348$1,896$1,523$1,177
20 years$3,321$2,685$2,155$1,717$1,360$1,034
21 years$3,129$2,501$1,982$1,558$1,217$910
22 years$2,955$2,335$1,827$1,417$1,091$802
23 years$2,797$2,184$1,687$1,290$979$708
24 years$2,652$2,046$1,560$1,177$880$625
25 years$2,519$1,920$1,445$1,075$792$553
26 years$2,396$1,805$1,340$983$714$489
27 years$2,283$1,698$1,244$900$643$433
28 years$2,178$1,600$1,157$824$580$384
29 years$2,080$1,510$1,076$756$524$340
30 years$1,989$1,426$1,003$694$474$302
31 years$1,904$1,348$935$637$428$268
32 years$1,824$1,275$872$585$387$238
33 years$1,750$1,208$814$538$351$211
34 years$1,680$1,145$761$495$317$187
35 years$1,614$1,086$711$456$287$167
36 years$1,552$1,030$665$420$260$148
37 years$1,493$979$623$387$236$132
38 years$1,438$930$583$357$214$117
39 years$1,385$884$546$329$194$104
40 years$1,336$841$512$303$176$93
41 years$1,289$801$480$280$160$82
42 years$1,244$763$450$258$145$73
43 years$1,201$727$423$238$132$65
44 years$1,161$693$397$220$119$58
45 years$1,122$661$373$203$108$52
46 years$1,085$630$350$188$98$46
47 years$1,050$601$329$173$89$41
48 years$1,017$574$309$160$81$36
49 years$985$548$290$148$74$32
50 years$954$524$273$137$67$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $977,000, adding $2,652 every year, while hoping to spend $32,500 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: 52/40/8 Blend
57$977,000$977,000$977,000$977,000
58$1,079,390$1,027,609$1,012,465$1,133,222
59$1,154,908$1,043,382$1,011,803$1,185,872
60$1,237,039$1,058,838$1,010,029$1,239,357
61$1,326,424$1,073,929$1,007,073$1,296,751
62$1,423,768$1,088,600$1,002,858$1,358,427
63$1,529,846$1,102,794$997,307$1,424,801
64$1,645,510$1,116,451$990,336$1,496,328
65$1,771,700$1,129,505$981,861$1,573,512
66$1,909,449$1,141,886$971,789$1,656,910
67$2,059,895$1,153,521$960,026$1,747,133
68$2,224,291$1,164,330$946,473$1,844,858
69$2,404,015$1,174,229$931,027$1,950,832
70$2,600,585$1,183,127$913,577$2,065,878
71$2,815,674$1,190,930$894,011$2,190,904
72$3,051,122$1,197,534$872,209$2,326,912
73$3,308,954$1,202,831$848,047$2,475,008
74$3,591,405$1,206,707$821,393$2,636,413
75$3,900,930$1,209,038$792,112$2,812,471
76$4,240,239$1,209,694$760,061$3,004,669
77$4,612,311$1,208,537$725,091$3,214,643
78$5,020,431$1,205,420$687,046$3,444,202
79$5,468,215$1,200,186$645,763$3,695,339
80$5,959,649$1,192,670$601,071$3,970,254
81$6,499,119$1,182,697$552,793$4,271,373
82$7,091,460$1,170,080$500,742$4,601,373
83$7,741,997$1,154,622$444,725$4,963,206
84$8,456,596$1,136,114$384,539$5,360,130
85$9,241,718$1,114,333$319,971$5,795,737
86$10,104,484$1,089,046$250,800$6,273,991
87$11,052,735$1,060,003$176,795$6,799,261
88$12,095,112$1,026,941$97,716$7,376,369
89$13,241,133$989,582$13,310$8,010,632
90$14,501,288$947,629$0$8,707,915
91$15,887,128$900,773$0$9,481,238
92$17,411,386$848,682$0$10,332,819
93$19,088,087$791,007$0$11,269,413
94$20,932,685$727,379$0$12,299,721
95$22,962,207$657,408$0$13,433,334
96$25,195,413$580,682$0$14,680,832
97$27,652,975$496,765$0$16,053,876
98$30,357,668$405,196$0$17,565,325
99$33,334,589$305,490$0$19,229,356
100$36,611,389$197,131$0$21,061,599