Can I retire at age 58 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$80,845$80,125$79,422$78,736$78,067$74,940
2 years$40,022$39,277$38,554$37,854$37,175$34,064
3 years$26,416$25,668$24,947$24,253$23,585$20,588
4 years$19,615$18,869$18,155$17,473$16,821$13,960
5 years$15,535$14,793$14,089$13,421$12,787$10,070
6 years$12,816$12,080$11,386$10,733$10,118$7,547
7 years$10,875$10,145$9,462$8,824$8,229$5,802
8 years$9,419$8,696$8,024$7,402$6,826$4,542
9 years$8,288$7,571$6,911$6,305$5,749$3,603
10 years$7,383$6,674$6,026$5,435$4,898$2,887
11 years$6,644$5,941$5,305$4,730$4,213$2,331
12 years$6,028$5,332$4,708$4,149$3,651$1,893
13 years$5,507$4,819$4,206$3,663$3,183$1,545
14 years$5,061$4,380$3,779$3,252$2,791$1,266
15 years$4,675$4,002$3,412$2,900$2,457$1,040
16 years$4,337$3,671$3,094$2,596$2,172$857
17 years$4,040$3,381$2,815$2,333$1,925$707
18 years$3,776$3,124$2,570$2,102$1,712$585
19 years$3,540$2,896$2,353$1,900$1,526$484
20 years$3,327$2,691$2,159$1,721$1,363$401
21 years$3,136$2,506$1,986$1,562$1,220$333
22 years$2,961$2,340$1,830$1,420$1,093$276
23 years$2,803$2,188$1,690$1,293$981$230
24 years$2,657$2,050$1,563$1,179$882$191
25 years$2,524$1,924$1,448$1,077$794$159
26 years$2,401$1,808$1,343$985$715$132
27 years$2,287$1,702$1,247$901$645$110
28 years$2,182$1,604$1,159$826$582$91
29 years$2,084$1,513$1,079$757$525$76
30 years$1,993$1,429$1,005$695$475$63
31 years$1,908$1,351$937$638$429$53
32 years$1,828$1,278$874$587$388$44
33 years$1,753$1,210$816$539$351$37
34 years$1,683$1,147$762$496$318$31
35 years$1,617$1,088$713$457$288$25
36 years$1,555$1,033$667$421$261$21
37 years$1,496$981$624$388$237$18
38 years$1,441$932$584$357$214$15
39 years$1,388$886$548$330$194$12
40 years$1,338$843$513$304$176$10
41 years$1,291$803$481$280$160$9
42 years$1,246$764$451$259$145$7
43 years$1,204$728$424$239$132$6
44 years$1,163$694$398$221$120$5
45 years$1,125$662$373$204$109$4
46 years$1,088$632$351$188$99$3
47 years$1,052$603$329$174$90$3
48 years$1,019$575$310$161$81$2
49 years$987$549$291$148$74$2
50 years$956$525$274$137$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $979,000, adding $2,610 every year, while hoping to spend $47,342 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: 71/14/15 Blend
57$979,000$979,000$979,000$979,000
58$1,081,550$1,029,663$1,014,489$1,154,487
59$1,141,497$1,029,745$998,103$1,203,336
60$1,205,971$1,028,244$979,581$1,250,824
61$1,275,385$1,025,034$958,802$1,301,580
62$1,350,192$1,019,977$935,639$1,355,919
63$1,430,887$1,012,931$909,958$1,414,187
64$1,518,016$1,003,744$881,621$1,476,768
65$1,612,180$992,254$850,481$1,544,085
66$1,714,038$978,289$816,387$1,616,606
67$1,824,313$961,669$779,180$1,694,845
68$1,943,803$942,201$738,693$1,779,372
69$2,073,384$919,682$694,751$1,870,816
70$2,214,018$893,895$647,175$1,969,870
71$2,366,764$864,613$595,772$2,077,302
72$2,532,789$831,594$540,345$2,193,955
73$2,713,374$794,582$480,687$2,320,765
74$2,909,929$753,308$416,581$2,458,760
75$3,124,007$707,484$347,801$2,609,079
76$3,357,313$656,809$274,110$2,772,977
77$3,611,729$600,963$195,263$2,951,839
78$3,889,323$539,607$111,001$3,147,193
79$4,192,370$472,384$21,056$3,360,729
80$4,523,378$398,917$0$3,594,308
81$4,885,106$318,807$0$3,861,977
82$5,280,590$231,632$0$4,158,387
83$5,713,176$136,948$0$4,482,716
84$6,186,545$34,284$0$4,837,777
85$6,704,753$0$0$5,226,667
86$7,272,264$0$0$5,664,645
87$7,893,996$0$0$6,150,302
88$8,575,363$0$0$6,682,595
89$9,322,329$0$0$7,266,187
90$10,141,463$0$0$7,906,218
91$11,039,998$0$0$8,608,347
92$12,025,903$0$0$9,378,808
93$13,107,955$0$0$10,224,466
94$14,295,821$0$0$11,152,886
95$15,600,152$0$0$12,172,398
96$17,032,679$0$0$13,292,181
97$18,606,324$0$0$14,522,345
98$20,335,326$0$0$15,874,029
99$22,235,367$0$0$17,359,501
100$24,323,725$0$0$18,992,281