Can I retire at age 58 with 978,000?

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 $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%19.5%
1 years$80,762$80,043$79,341$78,656$77,987$75,011
2 years$39,981$39,237$38,515$37,815$37,137$34,174
3 years$26,389$25,642$24,922$24,229$23,561$20,704
4 years$19,595$18,849$18,137$17,455$16,804$14,075
5 years$15,519$14,778$14,075$13,407$12,774$10,180
6 years$12,803$12,067$11,375$10,722$10,108$7,650
7 years$10,863$10,134$9,452$8,815$8,220$5,898
8 years$9,410$8,687$8,016$7,395$6,820$4,631
9 years$8,279$7,563$6,904$6,299$5,743$3,685
10 years$7,376$6,667$6,019$5,430$4,893$2,962
11 years$6,637$5,935$5,299$4,725$4,208$2,399
12 years$6,022$5,327$4,703$4,145$3,647$1,955
13 years$5,501$4,814$4,202$3,659$3,180$1,601
14 years$5,056$4,376$3,775$3,248$2,788$1,317
15 years$4,670$3,997$3,409$2,897$2,455$1,086
16 years$4,333$3,668$3,091$2,594$2,169$898
17 years$4,036$3,378$2,812$2,331$1,923$744
18 years$3,772$3,121$2,567$2,100$1,710$617
19 years$3,536$2,893$2,350$1,898$1,524$513
20 years$3,324$2,688$2,157$1,719$1,362$427
21 years$3,132$2,504$1,984$1,560$1,219$356
22 years$2,958$2,337$1,828$1,418$1,092$296
23 years$2,800$2,186$1,688$1,292$980$247
24 years$2,655$2,048$1,561$1,178$881$206
25 years$2,521$1,922$1,446$1,076$793$172
26 years$2,399$1,806$1,341$984$714$144
27 years$2,285$1,700$1,245$900$644$120
28 years$2,180$1,602$1,158$825$581$100
29 years$2,082$1,511$1,077$757$525$84
30 years$1,991$1,427$1,004$694$474$70
31 years$1,906$1,349$936$638$429$59
32 years$1,826$1,277$873$586$388$49
33 years$1,751$1,209$815$539$351$41
34 years$1,681$1,146$762$496$318$34
35 years$1,615$1,087$712$456$288$29
36 years$1,553$1,032$666$420$261$24
37 years$1,495$980$623$387$236$20
38 years$1,439$931$584$357$214$17
39 years$1,387$885$547$329$194$14
40 years$1,337$842$513$304$176$12
41 years$1,290$802$481$280$160$10
42 years$1,245$764$451$259$145$8
43 years$1,203$728$423$239$132$7
44 years$1,162$694$397$220$119$6
45 years$1,123$661$373$204$108$5
46 years$1,087$631$350$188$98$4
47 years$1,051$602$329$174$89$3
48 years$1,018$575$309$160$81$3
49 years$986$549$291$148$74$2
50 years$955$524$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 $978,000, adding $2,574 every year, while hoping to spend $51,897 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: 83/9/8 Blend
57$978,000$978,000$978,000$978,000
58$1,080,411$1,028,577$1,013,418$1,168,863
59$1,135,395$1,023,759$992,150$1,222,251
60$1,194,248$1,016,966$968,429$1,273,638
61$1,257,310$1,008,046$942,120$1,328,465
62$1,324,953$996,838$913,079$1,387,047
63$1,397,587$983,172$881,156$1,449,728
64$1,475,661$966,867$846,194$1,516,889
65$1,559,667$947,732$808,030$1,588,951
66$1,650,146$925,565$766,493$1,666,374
67$1,747,693$900,150$721,403$1,749,667
68$1,852,961$871,260$672,573$1,839,391
69$1,966,667$838,656$619,808$1,936,164
70$2,089,599$802,082$562,904$2,040,664
71$2,222,624$761,269$501,646$2,153,643
72$2,366,693$715,933$435,813$2,275,926
73$2,522,855$665,773$365,172$2,408,423
74$2,692,260$610,469$289,479$2,552,138
75$2,876,174$549,686$208,480$2,708,176
76$3,075,991$483,068$121,911$2,877,755
77$3,293,242$410,238$29,495$3,062,220
78$3,529,613$330,800$0$3,263,050
79$3,786,958$244,334$0$3,487,778
80$4,067,319$150,397$0$3,735,373
81$4,372,940$48,521$0$4,005,325
82$4,706,293$0$0$4,299,846
83$5,070,098$0$0$4,627,496
84$5,467,350$0$0$4,990,534
85$5,901,345$0$0$5,387,170
86$6,375,712$0$0$5,820,722
87$6,894,446$0$0$6,294,844
88$7,461,945$0$0$6,813,559
89$8,083,054$0$0$7,381,298
90$8,763,106$0$0$8,002,937
91$9,507,973$0$0$8,683,850
92$10,324,125$0$0$9,429,951
93$11,218,684$0$0$10,247,755
94$12,199,495$0$0$11,144,437
95$13,275,199$0$0$12,127,901
96$14,455,312$0$0$13,206,850
97$15,750,317$0$0$14,390,871
98$17,171,760$0$0$15,690,526
99$18,732,360$0$0$17,117,447
100$20,446,127$0$0$18,684,449