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%13.2%
1 years$81,258$80,534$79,828$79,139$78,466$77,421
2 years$40,227$39,477$38,751$38,047$37,365$36,314
3 years$26,551$25,799$25,075$24,377$23,706$22,681
4 years$19,715$18,965$18,248$17,562$16,907$15,917
5 years$15,614$14,869$14,161$13,490$12,852$11,900
6 years$12,881$12,141$11,444$10,788$10,170$9,256
7 years$10,930$10,196$9,510$8,869$8,271$7,395
8 years$9,467$8,740$8,065$7,440$6,861$6,025
9 years$8,330$7,610$6,947$6,337$5,778$4,980
10 years$7,421$6,708$6,056$5,463$4,923$4,163
11 years$6,678$5,972$5,332$4,754$4,234$3,510
12 years$6,059$5,360$4,732$4,170$3,669$2,982
13 years$5,535$4,844$4,228$3,682$3,200$2,547
14 years$5,087$4,403$3,799$3,268$2,805$2,187
15 years$4,699$4,022$3,430$2,915$2,470$1,885
16 years$4,359$3,690$3,109$2,610$2,183$1,630
17 years$4,060$3,398$2,829$2,345$1,935$1,414
18 years$3,795$3,140$2,583$2,113$1,721$1,229
19 years$3,558$2,910$2,365$1,909$1,534$1,071
20 years$3,344$2,704$2,170$1,729$1,370$934
21 years$3,152$2,519$1,996$1,569$1,226$817
22 years$2,977$2,351$1,840$1,427$1,099$715
23 years$2,817$2,199$1,699$1,300$986$626
24 years$2,671$2,061$1,571$1,185$887$549
25 years$2,537$1,934$1,455$1,083$798$482
26 years$2,413$1,817$1,349$990$719$424
27 years$2,299$1,710$1,253$906$648$373
28 years$2,193$1,612$1,165$830$585$328
29 years$2,095$1,520$1,084$761$528$288
30 years$2,003$1,436$1,010$699$477$254
31 years$1,917$1,357$941$642$431$224
32 years$1,837$1,284$878$590$390$197
33 years$1,762$1,216$820$542$353$174
34 years$1,692$1,153$766$499$320$153
35 years$1,625$1,093$716$459$290$135
36 years$1,563$1,038$670$423$262$119
37 years$1,504$986$627$390$238$105
38 years$1,448$937$587$359$216$93
39 years$1,395$891$550$331$195$82
40 years$1,345$847$516$305$177$72
41 years$1,298$807$484$282$161$64
42 years$1,253$768$454$260$146$56
43 years$1,210$732$426$240$132$50
44 years$1,169$698$400$222$120$44
45 years$1,130$665$375$205$109$39
46 years$1,093$635$352$189$99$34
47 years$1,058$606$331$175$90$30
48 years$1,024$578$311$161$82$27
49 years$992$552$292$149$74$24
50 years$961$528$275$138$67$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $984,000, adding $5,877 every year, while hoping to spend $28,234 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: 54/20/26 Blend
57$984,000$984,000$984,000$984,000
58$1,090,430$1,038,278$1,023,026$1,141,175
59$1,171,613$1,059,113$1,027,257$1,197,650
60$1,260,131$1,080,022$1,030,683$1,255,702
61$1,356,701$1,100,980$1,033,248$1,318,327
62$1,462,114$1,121,959$1,034,891$1,385,974
63$1,577,242$1,142,926$1,035,552$1,459,137
64$1,703,040$1,163,850$1,035,163$1,538,361
65$1,840,566$1,184,693$1,033,656$1,624,249
66$1,990,979$1,205,419$1,030,959$1,717,464
67$2,155,558$1,225,984$1,026,996$1,818,738
68$2,335,712$1,246,344$1,021,687$1,928,879
69$2,532,991$1,266,451$1,014,949$2,048,775
70$2,749,101$1,286,252$1,006,696$2,179,410
71$2,985,924$1,305,693$996,835$2,321,865
72$3,245,530$1,324,714$985,270$2,477,335
73$3,530,200$1,343,250$971,902$2,647,138
74$3,842,445$1,361,234$956,625$2,832,724
75$4,185,032$1,378,592$939,330$3,035,696
76$4,561,008$1,395,247$919,901$3,257,820
77$4,973,732$1,411,114$898,218$3,501,044
78$5,426,899$1,426,105$874,155$3,767,515
79$5,924,583$1,440,125$847,580$4,059,603
80$6,471,272$1,453,073$818,355$4,379,919
81$7,071,908$1,464,839$786,336$4,731,344
82$7,731,936$1,475,310$751,372$5,117,053
83$8,457,356$1,484,363$713,306$5,540,549
84$9,254,778$1,491,868$671,973$6,005,693
85$10,131,481$1,497,686$627,200$6,516,743
86$11,095,489$1,501,669$578,808$7,078,392
87$12,155,639$1,503,661$526,608$7,695,819
88$13,321,670$1,503,496$470,405$8,374,730
89$14,604,310$1,500,997$409,993$9,121,416
90$16,015,379$1,495,975$345,158$9,942,817
91$17,567,903$1,488,233$275,675$10,846,580
92$19,276,231$1,477,559$201,313$11,841,138
93$21,156,175$1,463,728$121,825$12,935,788
94$23,225,157$1,446,503$36,959$14,140,780
95$25,502,374$1,425,632$0$15,467,412
96$28,008,977$1,400,849$0$16,943,014
97$30,768,272$1,371,870$0$18,578,354
98$33,805,940$1,338,396$0$20,378,386
99$37,150,278$1,300,109$0$22,359,884
100$40,832,467$1,256,675$0$24,541,330