Can I retire at age 58 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$81,506$80,780$80,071$79,380$78,705$77,529
2 years$40,349$39,598$38,870$38,163$37,478$36,296
3 years$26,632$25,878$25,151$24,452$23,778$22,626
4 years$19,775$19,023$18,304$17,616$16,959$15,846
5 years$15,662$14,914$14,204$13,531$12,892$11,822
6 years$12,921$12,178$11,479$10,821$10,201$9,175
7 years$10,963$10,227$9,539$8,896$8,296$7,315
8 years$9,496$8,767$8,090$7,463$6,882$5,945
9 years$8,356$7,633$6,968$6,357$5,796$4,903
10 years$7,444$6,728$6,075$5,480$4,938$4,088
11 years$6,698$5,990$5,348$4,769$4,247$3,439
12 years$6,077$5,376$4,746$4,183$3,680$2,914
13 years$5,552$4,858$4,241$3,693$3,209$2,483
14 years$5,102$4,416$3,810$3,278$2,813$2,125
15 years$4,713$4,034$3,440$2,924$2,477$1,827
16 years$4,373$3,701$3,119$2,618$2,189$1,576
17 years$4,073$3,409$2,838$2,352$1,941$1,363
18 years$3,806$3,150$2,591$2,120$1,726$1,181
19 years$3,568$2,919$2,372$1,915$1,538$1,026
20 years$3,355$2,713$2,177$1,735$1,374$893
21 years$3,161$2,527$2,002$1,574$1,230$778
22 years$2,986$2,359$1,845$1,431$1,102$679
23 years$2,826$2,206$1,704$1,304$989$593
24 years$2,679$2,067$1,576$1,189$889$519
25 years$2,545$1,940$1,459$1,086$800$454
26 years$2,421$1,823$1,354$993$721$397
27 years$2,306$1,716$1,257$909$650$348
28 years$2,200$1,617$1,168$833$586$305
29 years$2,101$1,525$1,087$764$530$268
30 years$2,009$1,440$1,013$701$478$235
31 years$1,923$1,362$944$644$433$206
32 years$1,843$1,288$881$591$391$181
33 years$1,768$1,220$823$544$354$159
34 years$1,697$1,156$769$500$321$140
35 years$1,630$1,097$719$461$290$123
36 years$1,568$1,041$672$424$263$108
37 years$1,508$989$629$391$238$95
38 years$1,452$940$589$360$216$84
39 years$1,400$893$552$332$196$73
40 years$1,349$850$517$306$178$65
41 years$1,302$809$485$283$161$57
42 years$1,257$771$455$261$146$50
43 years$1,214$734$427$241$133$44
44 years$1,173$700$401$222$121$39
45 years$1,134$667$376$205$109$34
46 years$1,097$637$354$190$99$30
47 years$1,061$608$332$175$90$26
48 years$1,027$580$312$162$82$23
49 years$995$554$293$150$74$20
50 years$964$529$276$138$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $987,000, adding $6,853 every year, while hoping to spend $22,407 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: 64/10/26 Blend
57$987,000$987,000$987,000$987,000
58$1,094,743$1,042,432$1,027,133$1,156,895
59$1,182,566$1,069,670$1,037,701$1,226,970
60$1,278,596$1,097,492$1,047,873$1,300,409
61$1,383,646$1,125,903$1,057,610$1,380,156
62$1,498,612$1,154,906$1,066,874$1,466,835
63$1,624,481$1,184,507$1,075,625$1,561,129
64$1,762,338$1,214,708$1,083,818$1,663,794
65$1,913,380$1,245,512$1,091,409$1,775,661
66$2,078,923$1,276,920$1,098,350$1,897,646
67$2,260,418$1,308,935$1,104,590$2,030,760
68$2,459,464$1,341,556$1,110,077$2,176,115
69$2,677,819$1,374,782$1,114,755$2,334,938
70$2,917,423$1,408,613$1,118,565$2,508,579
71$3,180,410$1,443,044$1,121,447$2,698,528
72$3,469,132$1,478,074$1,123,335$2,906,426
73$3,786,180$1,513,696$1,124,163$3,134,081
74$4,134,407$1,549,904$1,123,860$3,383,487
75$4,516,958$1,586,690$1,122,350$3,656,840
76$4,937,295$1,624,046$1,119,557$3,956,561
77$5,399,235$1,661,959$1,115,397$4,285,317
78$5,906,980$1,700,418$1,109,786$4,646,050
79$6,465,161$1,739,408$1,102,633$5,041,998
80$7,078,880$1,778,911$1,093,844$5,476,734
81$7,753,758$1,818,910$1,083,320$5,954,194
82$8,495,987$1,859,383$1,070,957$6,478,715
83$9,312,392$1,900,307$1,056,648$7,055,077
84$10,210,489$1,941,655$1,040,279$7,688,551
85$11,198,561$1,983,398$1,021,731$8,384,942
86$12,285,735$2,025,505$1,000,879$9,150,650
87$13,482,065$2,067,940$977,594$9,992,729
88$14,798,631$2,110,665$951,739$10,918,952
89$16,247,641$2,153,637$923,172$11,937,887
90$17,842,546$2,196,811$891,743$13,058,976
91$19,598,167$2,240,136$857,298$14,292,624
92$21,530,835$2,283,557$819,673$15,650,301
93$23,658,546$2,327,017$778,697$17,144,646
94$26,001,127$2,370,451$734,193$18,789,589
95$28,580,428$2,413,789$685,974$20,600,483
96$31,420,524$2,456,957$633,847$22,594,248
97$34,547,944$2,499,874$577,607$24,789,532
98$37,991,921$2,542,454$517,043$27,206,884
99$41,784,666$2,584,603$451,933$29,868,956
100$45,961,674$2,626,221$382,045$32,800,707