Can I retire at age 58 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$81,093$80,370$79,666$78,978$78,306$75,830
2 years$40,145$39,397$38,673$37,970$37,289$34,816
3 years$26,497$25,747$25,024$24,328$23,657$21,267
4 years$19,675$18,926$18,211$17,527$16,873$14,582
5 years$15,583$14,839$14,132$13,462$12,826$10,641
6 years$12,855$12,117$11,421$10,766$10,149$8,072
7 years$10,908$10,176$9,491$8,851$8,254$6,284
8 years$9,448$8,722$8,049$7,425$6,847$4,984
9 years$8,313$7,594$6,933$6,325$5,767$4,007
10 years$7,406$6,694$6,044$5,452$4,913$3,256
11 years$6,664$5,959$5,321$4,745$4,226$2,667
12 years$6,046$5,349$4,722$4,162$3,662$2,198
13 years$5,524$4,834$4,219$3,674$3,193$1,821
14 years$5,077$4,394$3,791$3,262$2,799$1,515
15 years$4,689$4,014$3,423$2,909$2,465$1,265
16 years$4,351$3,683$3,103$2,604$2,178$1,059
17 years$4,052$3,392$2,824$2,340$1,931$888
18 years$3,787$3,134$2,578$2,109$1,717$746
19 years$3,550$2,904$2,360$1,906$1,531$628
20 years$3,338$2,699$2,166$1,726$1,367$530
21 years$3,145$2,514$1,992$1,566$1,223$447
22 years$2,971$2,347$1,836$1,424$1,097$378
23 years$2,811$2,195$1,695$1,297$984$319
24 years$2,666$2,056$1,568$1,183$885$270
25 years$2,532$1,930$1,452$1,080$796$229
26 years$2,408$1,814$1,347$988$717$193
27 years$2,294$1,707$1,251$904$647$164
28 years$2,189$1,608$1,163$828$583$139
29 years$2,090$1,517$1,082$760$527$118
30 years$1,999$1,433$1,008$697$476$100
31 years$1,913$1,355$939$640$430$85
32 years$1,834$1,282$877$588$389$72
33 years$1,759$1,214$818$541$352$61
34 years$1,688$1,150$765$498$319$52
35 years$1,622$1,091$715$458$289$44
36 years$1,560$1,036$669$422$262$37
37 years$1,501$984$626$389$237$32
38 years$1,445$935$586$358$215$27
39 years$1,392$889$549$331$195$23
40 years$1,343$846$515$305$177$19
41 years$1,295$805$483$281$161$16
42 years$1,250$767$453$260$146$14
43 years$1,207$731$425$240$132$12
44 years$1,167$696$399$221$120$10
45 years$1,128$664$374$204$109$8
46 years$1,091$633$352$189$99$7
47 years$1,056$605$330$174$90$6
48 years$1,022$577$311$161$82$5
49 years$990$551$292$149$74$4
50 years$959$526$274$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $982,000, adding $5,543 every year, while hoping to spend $31,563 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: 56/29/15 Blend
57$982,000$982,000$982,000$982,000
58$1,087,882$1,035,836$1,020,615$1,144,249
59$1,165,263$1,053,009$1,021,222$1,200,322
60$1,249,479$1,069,966$1,020,793$1,257,466
61$1,341,194$1,086,662$1,019,257$1,318,990
62$1,441,138$1,103,051$1,016,545$1,385,319
63$1,550,116$1,119,082$1,012,581$1,456,922
64$1,669,012$1,134,701$1,007,287$1,534,317
65$1,798,800$1,149,850$1,000,579$1,618,075
66$1,940,552$1,164,468$992,373$1,708,825
67$2,095,448$1,178,487$982,578$1,807,261
68$2,264,789$1,191,837$971,099$1,914,149
69$2,450,003$1,204,443$957,837$2,030,335
70$2,652,667$1,216,224$942,687$2,156,748
71$2,874,514$1,227,094$925,543$2,294,417
72$3,117,455$1,236,963$906,289$2,444,476
73$3,383,593$1,245,731$884,808$2,608,173
74$3,675,244$1,253,297$860,973$2,786,888
75$3,994,959$1,259,548$834,656$2,982,141
76$4,345,547$1,264,368$805,719$3,195,609
77$4,730,103$1,267,633$774,021$3,429,142
78$5,152,035$1,269,208$739,412$3,684,780
79$5,615,097$1,268,954$701,737$3,964,772
80$6,123,425$1,266,720$660,832$4,271,600
81$6,681,572$1,262,348$616,529$4,608,001
82$7,294,558$1,255,668$568,648$4,976,992
83$7,967,910$1,246,503$517,004$5,381,902
84$8,707,717$1,234,661$461,404$5,826,399
85$9,520,687$1,219,942$401,644$6,314,533
86$10,414,210$1,202,133$337,512$6,850,765
87$11,396,429$1,181,007$268,788$7,440,018
88$12,476,314$1,156,325$195,241$8,087,719
89$13,663,746$1,127,833$116,630$8,799,851
90$14,969,614$1,095,263$32,703$9,583,015
91$16,405,914$1,058,330$0$10,444,484
92$17,985,862$1,016,734$0$11,401,384
93$19,724,021$970,155$0$12,459,635
94$21,636,437$918,257$0$13,623,798
95$23,740,786$860,685$0$14,904,674
96$26,056,548$797,060$0$16,314,167
97$28,605,185$726,985$0$17,865,402
98$31,410,345$650,039$0$19,572,845
99$34,498,086$565,776$0$21,452,439
100$37,897,119$473,727$0$23,521,760