Can I retire at age 58 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$80,762$80,043$79,341$78,656$77,987$75,795
2 years$39,981$39,237$38,515$37,815$37,137$34,944
3 years$26,389$25,642$24,922$24,229$23,561$21,438
4 years$19,595$18,849$18,137$17,455$16,804$14,766
5 years$15,519$14,778$14,075$13,407$12,774$10,827
6 years$12,803$12,067$11,375$10,722$10,108$8,253
7 years$10,863$10,134$9,452$8,815$8,220$6,458
8 years$9,410$8,687$8,016$7,395$6,820$5,149
9 years$8,279$7,563$6,904$6,299$5,743$4,163
10 years$7,376$6,667$6,019$5,430$4,893$3,401
11 years$6,637$5,935$5,299$4,725$4,208$2,802
12 years$6,022$5,327$4,703$4,145$3,647$2,324
13 years$5,501$4,814$4,202$3,659$3,180$1,937
14 years$5,056$4,376$3,775$3,248$2,788$1,621
15 years$4,670$3,997$3,409$2,897$2,455$1,362
16 years$4,333$3,668$3,091$2,594$2,169$1,148
17 years$4,036$3,378$2,812$2,331$1,923$969
18 years$3,772$3,121$2,567$2,100$1,710$820
19 years$3,536$2,893$2,350$1,898$1,524$695
20 years$3,324$2,688$2,157$1,719$1,362$590
21 years$3,132$2,504$1,984$1,560$1,219$501
22 years$2,958$2,337$1,828$1,418$1,092$426
23 years$2,800$2,186$1,688$1,292$980$363
24 years$2,655$2,048$1,561$1,178$881$309
25 years$2,521$1,922$1,446$1,076$793$264
26 years$2,399$1,806$1,341$984$714$225
27 years$2,285$1,700$1,245$900$644$192
28 years$2,180$1,602$1,158$825$581$164
29 years$2,082$1,511$1,077$757$525$140
30 years$1,991$1,427$1,004$694$474$119
31 years$1,906$1,349$936$638$429$102
32 years$1,826$1,277$873$586$388$87
33 years$1,751$1,209$815$539$351$75
34 years$1,681$1,146$762$496$318$64
35 years$1,615$1,087$712$456$288$54
36 years$1,553$1,032$666$420$261$47
37 years$1,495$980$623$387$236$40
38 years$1,439$931$584$357$214$34
39 years$1,387$885$547$329$194$29
40 years$1,337$842$513$304$176$25
41 years$1,290$802$481$280$160$21
42 years$1,245$764$451$259$145$18
43 years$1,203$728$423$239$132$16
44 years$1,162$694$397$220$119$13
45 years$1,123$661$373$204$108$11
46 years$1,087$631$350$188$98$10
47 years$1,051$602$329$174$89$8
48 years$1,018$575$309$160$81$7
49 years$986$549$291$148$74$6
50 years$955$524$273$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $978,000, adding $6,912 every year, while hoping to spend $20,259 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: 39/42/19 Blend
57$978,000$978,000$978,000$978,000
58$1,084,886$1,033,052$1,017,893$1,120,807
59$1,173,989$1,062,116$1,030,437$1,176,284
60$1,271,501$1,091,925$1,042,722$1,233,784
61$1,378,259$1,122,495$1,054,718$1,295,537
62$1,495,185$1,153,840$1,066,394$1,361,940
63$1,623,291$1,185,975$1,077,716$1,433,429
64$1,763,696$1,218,917$1,088,648$1,510,483
65$1,917,628$1,252,680$1,099,154$1,593,632
66$2,086,445$1,287,279$1,109,194$1,683,456
67$2,271,637$1,322,731$1,118,726$1,780,595
68$2,474,848$1,359,049$1,127,708$1,885,753
69$2,697,889$1,396,249$1,136,093$1,999,708
70$2,942,754$1,434,346$1,143,833$2,123,313
71$3,211,641$1,473,354$1,150,877$2,257,508
72$3,506,969$1,513,289$1,157,172$2,403,331
73$3,831,404$1,554,165$1,162,661$2,561,921
74$4,187,884$1,595,995$1,167,287$2,734,537
75$4,579,643$1,638,794$1,170,986$2,922,562
76$5,010,246$1,682,575$1,173,694$3,127,521
77$5,483,621$1,727,350$1,175,342$3,351,096
78$6,004,093$1,773,133$1,175,858$3,595,136
79$6,576,429$1,819,935$1,175,169$3,861,681
80$7,205,881$1,867,768$1,173,193$4,152,978
81$7,898,235$1,916,643$1,169,849$4,471,501
82$8,659,865$1,966,569$1,165,049$4,819,978
83$9,497,796$2,017,556$1,158,703$5,201,414
84$10,419,767$2,069,611$1,150,715$5,619,120
85$11,434,304$2,122,744$1,140,985$6,076,745
86$12,550,804$2,176,958$1,129,409$6,578,308
87$13,779,618$2,232,261$1,115,876$7,128,240
88$15,132,152$2,288,656$1,100,271$7,731,423
89$16,620,976$2,346,144$1,082,475$8,393,234
90$18,259,939$2,404,728$1,062,361$9,119,604
91$20,064,300$2,464,407$1,039,797$9,917,063
92$22,050,873$2,525,178$1,014,645$10,792,811
93$24,238,188$2,587,037$986,761$11,754,779
94$26,646,660$2,649,979$955,995$12,811,712
95$29,298,786$2,713,994$922,187$13,973,242
96$32,219,354$2,779,072$885,172$15,249,986
97$35,435,682$2,845,200$844,779$16,653,644
98$38,977,868$2,912,362$800,826$18,197,112
99$42,879,082$2,980,538$753,125$19,894,598
100$47,175,871$3,049,708$701,478$21,761,762