Can I retire at age 58 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$80,845$80,125$79,422$78,736$78,067$75,780
2 years$40,022$39,277$38,554$37,854$37,175$34,890
3 years$26,416$25,668$24,947$24,253$23,585$21,373
4 years$19,615$18,869$18,155$17,473$16,821$14,699
5 years$15,535$14,793$14,089$13,421$12,787$10,761
6 years$12,816$12,080$11,386$10,733$10,118$8,189
7 years$10,875$10,145$9,462$8,824$8,229$6,398
8 years$9,419$8,696$8,024$7,402$6,826$5,092
9 years$8,288$7,571$6,911$6,305$5,749$4,109
10 years$7,383$6,674$6,026$5,435$4,898$3,351
11 years$6,644$5,941$5,305$4,730$4,213$2,755
12 years$6,028$5,332$4,708$4,149$3,651$2,280
13 years$5,507$4,819$4,206$3,663$3,183$1,897
14 years$5,061$4,380$3,779$3,252$2,791$1,585
15 years$4,675$4,002$3,412$2,900$2,457$1,328
16 years$4,337$3,671$3,094$2,596$2,172$1,117
17 years$4,040$3,381$2,815$2,333$1,925$941
18 years$3,776$3,124$2,570$2,102$1,712$794
19 years$3,540$2,896$2,353$1,900$1,526$672
20 years$3,327$2,691$2,159$1,721$1,363$569
21 years$3,136$2,506$1,986$1,562$1,220$482
22 years$2,961$2,340$1,830$1,420$1,093$409
23 years$2,803$2,188$1,690$1,293$981$348
24 years$2,657$2,050$1,563$1,179$882$296
25 years$2,524$1,924$1,448$1,077$794$251
26 years$2,401$1,808$1,343$985$715$214
27 years$2,287$1,702$1,247$901$645$182
28 years$2,182$1,604$1,159$826$582$155
29 years$2,084$1,513$1,079$757$525$132
30 years$1,993$1,429$1,005$695$475$112
31 years$1,908$1,351$937$638$429$96
32 years$1,828$1,278$874$587$388$82
33 years$1,753$1,210$816$539$351$70
34 years$1,683$1,147$762$496$318$59
35 years$1,617$1,088$713$457$288$51
36 years$1,555$1,033$667$421$261$43
37 years$1,496$981$624$388$237$37
38 years$1,441$932$584$357$214$31
39 years$1,388$886$548$330$194$27
40 years$1,338$843$513$304$176$23
41 years$1,291$803$481$280$160$19
42 years$1,246$764$451$259$145$17
43 years$1,204$728$424$239$132$14
44 years$1,163$694$398$221$120$12
45 years$1,125$662$373$204$109$10
46 years$1,088$632$351$188$99$9
47 years$1,052$603$329$174$90$8
48 years$1,019$575$310$161$81$6
49 years$987$549$291$148$74$5
50 years$956$525$274$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $979,000, adding $2,632 every year, while hoping to spend $39,275 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: 74/17/9 Blend
57$979,000$979,000$979,000$979,000
58$1,081,573$1,029,686$1,014,511$1,159,754
59$1,150,105$1,038,352$1,006,709$1,220,324
60$1,224,311$1,046,127$997,329$1,281,466
61$1,304,728$1,052,925$986,277$1,347,347
62$1,391,948$1,058,655$973,455$1,418,423
63$1,486,619$1,063,221$958,758$1,495,198
64$1,589,456$1,066,521$942,078$1,578,227
65$1,701,246$1,068,446$923,303$1,668,119
66$1,822,852$1,068,879$902,313$1,765,549
67$1,955,227$1,067,698$878,985$1,871,260
68$2,099,417$1,064,772$853,187$1,986,069
69$2,256,574$1,059,963$824,786$2,110,879
70$2,427,967$1,053,123$793,638$2,246,685
71$2,614,990$1,044,096$759,595$2,394,583
72$2,819,179$1,032,718$722,502$2,555,782
73$3,042,226$1,018,811$682,197$2,731,614
74$3,285,991$1,002,191$638,509$2,923,549
75$3,552,525$982,661$591,261$3,133,206
76$3,844,082$960,012$540,268$3,362,371
77$4,163,149$934,022$485,338$3,613,013
78$4,512,460$904,459$426,266$3,887,302
79$4,895,027$871,074$362,843$4,187,632
80$5,314,169$833,606$294,847$4,516,640
81$5,773,539$791,777$222,049$4,877,235
82$6,277,160$745,294$144,207$5,272,624
83$6,829,464$693,847$61,072$5,706,343
84$7,435,332$637,109$0$6,182,289
85$8,100,140$574,731$0$6,707,415
86$8,829,811$506,350$0$7,290,234
87$9,630,866$431,576$0$7,930,126
88$10,510,493$350,001$0$8,632,877
89$11,476,606$261,194$0$9,404,865
90$12,537,925$164,697$0$10,253,121
91$13,704,055$60,030$0$11,185,390
92$14,985,579$0$0$12,210,212
93$16,394,156$0$0$13,346,973
94$17,942,629$0$0$14,609,025
95$19,645,149$0$0$15,996,676
96$21,517,306$0$0$17,522,641
97$23,576,275$0$0$19,200,924
98$25,840,983$0$0$21,046,958
99$28,332,277$0$0$23,077,745
100$31,073,133$0$0$25,312,018