Can I retire at age 58 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$81,258$80,534$79,828$79,139$78,466$76,229
2 years$40,227$39,477$38,751$38,047$37,365$35,128
3 years$26,551$25,799$25,075$24,377$23,706$21,540
4 years$19,715$18,965$18,248$17,562$16,907$14,829
5 years$15,614$14,869$14,161$13,490$12,852$10,867
6 years$12,881$12,141$11,444$10,788$10,170$8,280
7 years$10,930$10,196$9,510$8,869$8,271$6,475
8 years$9,467$8,740$8,065$7,440$6,861$5,160
9 years$8,330$7,610$6,947$6,337$5,778$4,169
10 years$7,421$6,708$6,056$5,463$4,923$3,404
11 years$6,678$5,972$5,332$4,754$4,234$2,803
12 years$6,059$5,360$4,732$4,170$3,669$2,322
13 years$5,535$4,844$4,228$3,682$3,200$1,935
14 years$5,087$4,403$3,799$3,268$2,805$1,618
15 years$4,699$4,022$3,430$2,915$2,470$1,359
16 years$4,359$3,690$3,109$2,610$2,183$1,144
17 years$4,060$3,398$2,829$2,345$1,935$965
18 years$3,795$3,140$2,583$2,113$1,721$816
19 years$3,558$2,910$2,365$1,909$1,534$691
20 years$3,344$2,704$2,170$1,729$1,370$586
21 years$3,152$2,519$1,996$1,569$1,226$498
22 years$2,977$2,351$1,840$1,427$1,099$423
23 years$2,817$2,199$1,699$1,300$986$360
24 years$2,671$2,061$1,571$1,185$887$306
25 years$2,537$1,934$1,455$1,083$798$261
26 years$2,413$1,817$1,349$990$719$222
27 years$2,299$1,710$1,253$906$648$190
28 years$2,193$1,612$1,165$830$585$162
29 years$2,095$1,520$1,084$761$528$138
30 years$2,003$1,436$1,010$699$477$118
31 years$1,917$1,357$941$642$431$100
32 years$1,837$1,284$878$590$390$86
33 years$1,762$1,216$820$542$353$73
34 years$1,692$1,153$766$499$320$63
35 years$1,625$1,093$716$459$290$53
36 years$1,563$1,038$670$423$262$46
37 years$1,504$986$627$390$238$39
38 years$1,448$937$587$359$216$33
39 years$1,395$891$550$331$195$28
40 years$1,345$847$516$305$177$24
41 years$1,298$807$484$282$161$21
42 years$1,253$768$454$260$146$18
43 years$1,210$732$426$240$132$15
44 years$1,169$698$400$222$120$13
45 years$1,130$665$375$205$109$11
46 years$1,093$635$352$189$99$9
47 years$1,058$606$331$175$90$8
48 years$1,024$578$311$161$82$7
49 years$992$552$292$149$74$6
50 years$961$528$275$138$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $984,000, adding $5,417 every year, while hoping to spend $20,270 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: 32/39/29 Blend
57$984,000$984,000$984,000$984,000
58$1,089,956$1,037,804$1,022,552$1,115,068
59$1,179,564$1,067,089$1,035,240$1,164,121
60$1,277,633$1,097,130$1,047,674$1,214,762
61$1,385,004$1,127,942$1,059,824$1,268,916
62$1,502,605$1,159,541$1,071,658$1,326,905
63$1,631,455$1,191,943$1,083,143$1,389,087
64$1,772,678$1,225,163$1,094,243$1,455,853
65$1,927,513$1,259,218$1,104,922$1,527,636
66$2,097,323$1,294,123$1,115,141$1,604,910
67$2,283,610$1,329,895$1,124,857$1,688,201
68$2,488,027$1,366,548$1,134,029$1,778,084
69$2,712,396$1,404,100$1,142,610$1,875,196
70$2,958,725$1,442,565$1,150,551$1,980,235
71$3,229,224$1,481,960$1,157,804$2,093,972
72$3,526,327$1,522,299$1,164,313$2,217,258
73$3,852,719$1,563,598$1,170,024$2,351,027
74$4,211,354$1,605,872$1,174,877$2,496,309
75$4,605,488$1,649,135$1,178,812$2,654,242
76$5,038,708$1,693,403$1,181,762$2,826,076
77$5,514,965$1,738,688$1,183,660$3,013,189
78$6,038,613$1,785,006$1,184,434$3,217,103
79$6,614,449$1,832,368$1,184,009$3,439,490
80$7,247,756$1,880,788$1,182,307$3,682,196
81$7,944,358$1,930,277$1,179,245$3,947,254
82$8,710,669$1,980,847$1,174,737$4,236,906
83$9,553,758$2,032,509$1,168,691$4,553,622
84$10,481,411$2,085,272$1,161,012$4,900,122
85$11,502,210$2,139,146$1,151,601$5,279,406
86$12,625,609$2,194,137$1,140,353$5,694,782
87$13,862,025$2,250,254$1,127,159$6,149,891
88$15,222,936$2,307,501$1,111,903$6,648,750
89$16,720,990$2,365,883$1,094,467$7,195,786
90$18,370,124$2,425,404$1,074,724$7,795,875
91$20,185,692$2,486,064$1,052,542$8,454,395
92$22,184,615$2,547,864$1,027,785$9,177,271
93$24,385,538$2,610,801$1,000,308$9,971,033
94$26,809,004$2,674,873$969,961$10,842,881
95$29,477,653$2,740,072$936,585$11,800,748
96$32,416,430$2,806,391$900,016$12,853,377
97$35,652,821$2,873,820$860,082$14,010,406
98$39,217,116$2,942,344$816,602$15,282,458
99$43,142,692$3,011,950$769,389$16,681,239
100$47,466,328$3,082,617$718,245$18,219,652