Can I retire at age 58 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$80,349$79,634$78,935$78,254$77,588$76,938
2 years$39,777$39,036$38,318$37,622$36,947$36,292
3 years$26,255$25,511$24,794$24,105$23,441$22,801
4 years$19,495$18,753$18,044$17,366$16,718$16,098
5 years$15,440$14,703$14,003$13,339$12,709$12,111
6 years$12,737$12,006$11,316$10,667$10,056$9,481
7 years$10,808$10,082$9,404$8,770$8,178$7,626
8 years$9,361$8,642$7,975$7,357$6,785$6,255
9 years$8,237$7,525$6,869$6,267$5,714$5,207
10 years$7,338$6,633$5,989$5,402$4,868$4,384
11 years$6,603$5,905$5,272$4,701$4,187$3,725
12 years$5,991$5,300$4,679$4,124$3,628$3,188
13 years$5,473$4,789$4,180$3,641$3,164$2,745
14 years$5,030$4,353$3,756$3,232$2,773$2,375
15 years$4,646$3,977$3,391$2,882$2,442$2,064
16 years$4,311$3,649$3,075$2,581$2,158$1,800
17 years$4,015$3,360$2,798$2,319$1,914$1,574
18 years$3,752$3,105$2,554$2,090$1,702$1,380
19 years$3,518$2,878$2,338$1,888$1,517$1,213
20 years$3,307$2,674$2,146$1,710$1,355$1,068
21 years$3,116$2,491$1,974$1,552$1,212$942
22 years$2,943$2,325$1,819$1,411$1,087$832
23 years$2,786$2,175$1,680$1,285$975$736
24 years$2,641$2,038$1,553$1,172$877$651
25 years$2,509$1,912$1,439$1,070$789$577
26 years$2,386$1,797$1,334$979$711$512
27 years$2,273$1,691$1,239$896$641$454
28 years$2,169$1,594$1,152$821$578$403
29 years$2,071$1,503$1,072$753$522$359
30 years$1,981$1,420$998$691$472$319
31 years$1,896$1,342$931$634$426$284
32 years$1,817$1,270$868$583$386$252
33 years$1,743$1,203$811$536$349$225
34 years$1,673$1,140$758$493$316$200
35 years$1,607$1,081$708$454$286$178
36 years$1,545$1,026$663$418$259$159
37 years$1,487$975$620$385$235$142
38 years$1,432$926$581$355$213$126
39 years$1,380$881$544$328$193$112
40 years$1,330$838$510$302$175$100
41 years$1,283$798$478$279$159$89
42 years$1,239$760$449$257$144$80
43 years$1,196$724$421$237$131$71
44 years$1,156$690$395$219$119$63
45 years$1,118$658$371$202$108$57
46 years$1,081$628$348$187$98$51
47 years$1,046$599$327$173$89$45
48 years$1,013$572$308$160$81$40
49 years$981$546$289$148$73$36
50 years$950$522$272$136$67$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $973,000, adding $5,912 every year, while hoping to spend $50,006 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: 49/38/13 Blend
57$973,000$973,000$973,000$973,000
58$1,078,344$1,026,775$1,011,694$1,127,059
59$1,135,129$1,023,881$992,379$1,158,299
60$1,196,031$1,019,169$970,742$1,186,522
61$1,261,415$1,012,498$946,651$1,216,058
62$1,331,685$1,003,716$919,970$1,247,048
63$1,407,284$992,665$890,556$1,279,646
64$1,488,696$979,175$858,259$1,314,029
65$1,576,455$963,067$822,922$1,350,391
66$1,671,147$944,150$784,384$1,388,952
67$1,773,415$922,224$742,471$1,429,955
68$1,883,966$897,076$697,007$1,473,674
69$2,003,578$868,481$647,804$1,520,415
70$2,133,105$836,198$594,668$1,570,516
71$2,273,486$799,977$537,394$1,624,357
72$2,425,755$759,548$475,769$1,682,361
73$2,591,046$714,631$409,572$1,745,000
74$2,770,611$664,925$338,571$1,812,796
75$2,965,821$610,115$262,521$1,886,335
76$3,178,191$549,867$181,172$1,966,265
77$3,409,383$483,827$94,257$2,053,309
78$3,661,227$411,621$1,502$2,148,269
79$3,935,739$332,857$0$2,252,038
80$4,235,134$247,117$0$2,379,127
81$4,561,852$153,960$0$2,518,217
82$4,918,580$52,924$0$2,670,365
83$5,308,275$0$0$2,836,970
84$5,734,189$0$0$3,043,202
85$6,199,909$0$0$3,293,007
86$6,709,377$0$0$3,566,383
87$7,266,939$0$0$3,865,674
88$7,877,379$0$0$4,193,462
89$8,545,964$0$0$4,552,589
90$9,278,495$0$0$4,946,186
91$10,081,360$0$0$5,377,701
92$10,961,596$0$0$5,850,931
93$11,926,953$0$0$6,370,059
94$12,985,964$0$0$6,939,691
95$14,148,033$0$0$7,564,902
96$15,423,514$0$0$8,251,281
97$16,823,813$0$0$9,004,986
98$18,361,498$0$0$9,832,799
99$20,050,408$0$0$10,742,193
100$21,905,792$0$0$11,741,397