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%14.8%
1 years$81,423$80,698$79,990$79,299$78,625$77,069
2 years$40,308$39,558$38,830$38,125$37,440$35,879
3 years$26,605$25,851$25,126$24,427$23,754$22,236
4 years$19,755$19,004$18,285$17,598$16,941$15,479
5 years$15,646$14,899$14,190$13,517$12,879$11,476
6 years$12,908$12,166$11,468$10,810$10,190$8,849
7 years$10,952$10,217$9,530$8,887$8,288$7,007
8 years$9,487$8,758$8,082$7,455$6,875$5,656
9 years$8,347$7,625$6,961$6,350$5,790$4,631
10 years$7,436$6,721$6,069$5,474$4,933$3,833
11 years$6,691$5,984$5,343$4,764$4,243$3,200
12 years$6,071$5,371$4,742$4,179$3,677$2,690
13 years$5,546$4,853$4,236$3,689$3,206$2,274
14 years$5,097$4,412$3,806$3,275$2,811$1,932
15 years$4,708$4,030$3,437$2,921$2,475$1,647
16 years$4,368$3,698$3,116$2,615$2,187$1,408
17 years$4,069$3,405$2,835$2,350$1,939$1,207
18 years$3,803$3,147$2,588$2,117$1,724$1,038
19 years$3,565$2,916$2,369$1,913$1,537$893
20 years$3,351$2,710$2,174$1,733$1,373$770
21 years$3,158$2,524$2,000$1,573$1,228$665
22 years$2,983$2,356$1,843$1,430$1,101$575
23 years$2,823$2,204$1,702$1,302$988$498
24 years$2,676$2,065$1,574$1,188$888$431
25 years$2,542$1,938$1,458$1,085$799$374
26 years$2,418$1,821$1,352$992$720$324
27 years$2,304$1,714$1,256$908$649$281
28 years$2,198$1,615$1,167$832$586$244
29 years$2,099$1,524$1,086$763$529$212
30 years$2,007$1,439$1,012$700$478$184
31 years$1,921$1,360$943$643$432$160
32 years$1,841$1,287$880$591$391$139
33 years$1,766$1,219$822$543$354$121
34 years$1,695$1,155$768$500$320$105
35 years$1,629$1,096$718$460$290$92
36 years$1,566$1,040$672$424$263$80
37 years$1,507$988$629$391$238$69
38 years$1,451$939$589$360$216$60
39 years$1,398$893$551$332$196$53
40 years$1,348$849$517$306$178$46
41 years$1,300$808$485$282$161$40
42 years$1,255$770$455$261$146$35
43 years$1,212$734$427$241$133$30
44 years$1,172$699$400$222$120$26
45 years$1,133$667$376$205$109$23
46 years$1,095$636$353$190$99$20
47 years$1,060$607$332$175$90$17
48 years$1,026$579$312$162$82$15
49 years$994$553$293$150$74$13
50 years$963$529$276$138$68$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $986,000, adding $5,590 every year, while hoping to spend $57,951 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: 77/6/17 Blend
57$986,000$986,000$986,000$986,000
58$1,092,338$1,040,080$1,024,797$1,171,904
59$1,142,097$1,029,385$997,468$1,214,530
60$1,194,989$1,016,223$967,282$1,253,448
61$1,251,273$1,000,413$934,081$1,294,554
62$1,311,231$981,761$897,701$1,338,045
63$1,375,174$960,064$857,970$1,384,142
64$1,443,439$935,105$814,710$1,433,089
65$1,516,400$906,655$767,733$1,485,152
66$1,594,463$874,471$716,842$1,540,629
67$1,678,075$838,297$661,833$1,599,846
68$1,767,726$797,862$602,492$1,663,165
69$1,863,955$752,877$538,596$1,730,984
70$1,967,350$703,040$469,911$1,803,746
71$2,078,559$648,028$396,193$1,881,935
72$2,198,294$587,504$317,187$1,966,090
73$2,327,335$521,106$232,627$2,056,804
74$2,466,540$448,457$142,237$2,154,733
75$2,616,850$369,155$45,726$2,260,600
76$2,779,303$282,778$0$2,375,203
77$2,955,035$188,877$0$2,509,814
78$3,145,297$86,980$0$2,664,546
79$3,351,465$0$0$2,832,229
80$3,575,050$0$0$3,015,660
81$3,817,715$0$0$3,221,008
82$4,081,290$0$0$3,444,079
83$4,367,786$0$0$3,686,582
84$4,679,416$0$0$3,950,393
85$5,018,614$0$0$4,237,578
86$5,388,061$0$0$4,550,409
87$5,790,704$0$0$4,891,388
88$6,229,787$0$0$5,263,267
89$6,708,884$0$0$5,669,076
90$7,231,923$0$0$6,112,150
91$7,803,232$0$0$6,596,159
92$8,427,575$0$0$7,125,146
93$9,110,195$0$0$7,703,558
94$9,856,868$0$0$8,336,295
95$10,673,951$0$0$9,028,751
96$11,568,444$0$0$9,786,866
97$12,548,056$0$0$10,617,180
98$13,621,277$0$0$11,526,895
99$14,797,457$0$0$12,523,944
100$16,086,891$0$0$13,617,063