Can I retire at age 58 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$81,423$80,698$79,990$79,299$78,625$78,031
2 years$40,308$39,558$38,830$38,125$37,440$36,842
3 years$26,605$25,851$25,126$24,427$23,754$23,169
4 years$19,755$19,004$18,285$17,598$16,941$16,375
5 years$15,646$14,899$14,190$13,517$12,879$12,332
6 years$12,908$12,166$11,468$10,810$10,190$9,664
7 years$10,952$10,217$9,530$8,887$8,288$7,782
8 years$9,487$8,758$8,082$7,455$6,875$6,391
9 years$8,347$7,625$6,961$6,350$5,790$5,326
10 years$7,436$6,721$6,069$5,474$4,933$4,490
11 years$6,691$5,984$5,343$4,764$4,243$3,819
12 years$6,071$5,371$4,742$4,179$3,677$3,273
13 years$5,546$4,853$4,236$3,689$3,206$2,822
14 years$5,097$4,412$3,806$3,275$2,811$2,445
15 years$4,708$4,030$3,437$2,921$2,475$2,127
16 years$4,368$3,698$3,116$2,615$2,187$1,857
17 years$4,069$3,405$2,835$2,350$1,939$1,627
18 years$3,803$3,147$2,588$2,117$1,724$1,428
19 years$3,565$2,916$2,369$1,913$1,537$1,257
20 years$3,351$2,710$2,174$1,733$1,373$1,108
21 years$3,158$2,524$2,000$1,573$1,228$979
22 years$2,983$2,356$1,843$1,430$1,101$866
23 years$2,823$2,204$1,702$1,302$988$767
24 years$2,676$2,065$1,574$1,188$888$680
25 years$2,542$1,938$1,458$1,085$799$604
26 years$2,418$1,821$1,352$992$720$536
27 years$2,304$1,714$1,256$908$649$477
28 years$2,198$1,615$1,167$832$586$424
29 years$2,099$1,524$1,086$763$529$377
30 years$2,007$1,439$1,012$700$478$336
31 years$1,921$1,360$943$643$432$299
32 years$1,841$1,287$880$591$391$267
33 years$1,766$1,219$822$543$354$238
34 years$1,695$1,155$768$500$320$212
35 years$1,629$1,096$718$460$290$189
36 years$1,566$1,040$672$424$263$169
37 years$1,507$988$629$391$238$151
38 years$1,451$939$589$360$216$135
39 years$1,398$893$551$332$196$120
40 years$1,348$849$517$306$178$108
41 years$1,300$808$485$282$161$96
42 years$1,255$770$455$261$146$86
43 years$1,212$734$427$241$133$77
44 years$1,172$699$400$222$120$69
45 years$1,133$667$376$205$109$61
46 years$1,095$636$353$190$99$55
47 years$1,060$607$332$175$90$49
48 years$1,026$579$312$162$82$44
49 years$994$553$293$150$74$39
50 years$963$529$276$138$68$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $986,000, adding $4,434 every year, while hoping to spend $49,175 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: 69/14/17 Blend
57$986,000$986,000$986,000$986,000
58$1,091,146$1,038,888$1,023,605$1,161,719
59$1,150,121$1,037,471$1,005,574$1,207,905
60$1,213,463$1,034,337$985,290$1,252,182
61$1,281,566$1,029,350$962,628$1,299,394
62$1,354,862$1,022,365$937,452$1,349,823
63$1,433,826$1,013,228$909,624$1,403,784
64$1,518,978$1,001,778$878,998$1,461,624
65$1,610,891$987,842$845,422$1,523,727
66$1,710,194$971,238$808,735$1,590,515
67$1,817,577$951,773$768,772$1,662,458
68$1,933,802$929,242$725,358$1,740,071
69$2,059,703$903,428$678,311$1,823,927
70$2,196,199$874,101$627,440$1,914,658
71$2,344,298$841,020$572,546$2,012,959
72$2,505,113$803,926$513,423$2,119,602
73$2,679,864$762,548$449,852$2,235,438
74$2,869,895$716,598$381,607$2,361,407
75$3,076,686$665,772$308,452$2,498,547
76$3,301,862$609,749$230,139$2,648,003
77$3,547,213$548,188$146,410$2,811,044
78$3,814,710$480,731$56,996$2,989,066
79$4,106,520$406,997$0$3,183,612
80$4,425,031$326,585$0$3,403,359
81$4,772,869$239,072$0$3,654,702
82$5,152,925$144,010$0$3,929,426
83$5,568,383$40,927$0$4,229,881
84$6,022,749$0$0$4,558,660
85$6,519,882$0$0$4,929,507
86$7,064,030$0$0$5,342,382
87$7,659,874$0$0$5,794,538
88$8,312,567$0$0$6,289,891
89$9,027,783$0$0$6,832,756
90$9,811,771$0$0$7,427,884
91$10,671,416$0$0$8,080,508
92$11,614,299$0$0$8,796,391
93$12,648,769$0$0$9,581,883
94$13,784,024$0$0$10,443,974
95$15,030,195$0$0$11,390,368
96$16,398,441$0$0$12,429,550
97$17,901,057$0$0$13,570,864
98$19,551,584$0$0$14,824,608
99$21,364,940$0$0$16,202,124
100$23,357,559$0$0$17,715,907