Can I retire at age 58 with 987,000?

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 $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%16.6%
1 years$81,506$80,780$80,071$79,380$78,705$76,585
2 years$40,349$39,598$38,870$38,163$37,478$35,358
3 years$26,632$25,878$25,151$24,452$23,778$21,723
4 years$19,775$19,023$18,304$17,616$16,959$14,985
5 years$15,662$14,914$14,204$13,531$12,892$11,005
6 years$12,921$12,178$11,479$10,821$10,201$8,403
7 years$10,963$10,227$9,539$8,896$8,296$6,587
8 years$9,496$8,767$8,090$7,463$6,882$5,261
9 years$8,356$7,633$6,968$6,357$5,796$4,261
10 years$7,444$6,728$6,075$5,480$4,938$3,488
11 years$6,698$5,990$5,348$4,769$4,247$2,879
12 years$6,077$5,376$4,746$4,183$3,680$2,392
13 years$5,552$4,858$4,241$3,693$3,209$1,998
14 years$5,102$4,416$3,810$3,278$2,813$1,676
15 years$4,713$4,034$3,440$2,924$2,477$1,411
16 years$4,373$3,701$3,119$2,618$2,189$1,191
17 years$4,073$3,409$2,838$2,352$1,941$1,008
18 years$3,806$3,150$2,591$2,120$1,726$855
19 years$3,568$2,919$2,372$1,915$1,538$726
20 years$3,355$2,713$2,177$1,735$1,374$618
21 years$3,161$2,527$2,002$1,574$1,230$526
22 years$2,986$2,359$1,845$1,431$1,102$449
23 years$2,826$2,206$1,704$1,304$989$383
24 years$2,679$2,067$1,576$1,189$889$327
25 years$2,545$1,940$1,459$1,086$800$279
26 years$2,421$1,823$1,354$993$721$239
27 years$2,306$1,716$1,257$909$650$204
28 years$2,200$1,617$1,168$833$586$175
29 years$2,101$1,525$1,087$764$530$150
30 years$2,009$1,440$1,013$701$478$128
31 years$1,923$1,362$944$644$433$110
32 years$1,843$1,288$881$591$391$94
33 years$1,768$1,220$823$544$354$81
34 years$1,697$1,156$769$500$321$69
35 years$1,630$1,097$719$461$290$59
36 years$1,568$1,041$672$424$263$51
37 years$1,508$989$629$391$238$43
38 years$1,452$940$589$360$216$37
39 years$1,400$893$552$332$196$32
40 years$1,349$850$517$306$178$27
41 years$1,302$809$485$283$161$23
42 years$1,257$771$455$261$146$20
43 years$1,214$734$427$241$133$17
44 years$1,173$700$401$222$121$15
45 years$1,134$667$376$205$109$13
46 years$1,097$637$354$190$99$11
47 years$1,061$608$332$175$90$9
48 years$1,027$580$312$162$82$8
49 years$995$554$293$150$74$7
50 years$964$529$276$138$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $987,000, adding $5,091 every year, while hoping to spend $38,750 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: 73/15/12 Blend
57$987,000$987,000$987,000$987,000
58$1,092,925$1,040,614$1,025,316$1,169,664
59$1,163,174$1,050,375$1,018,434$1,230,848
60$1,239,289$1,059,315$1,010,023$1,292,555
61$1,321,829$1,067,353$999,991$1,359,090
62$1,411,405$1,074,403$988,241$1,430,922
63$1,508,693$1,080,374$974,672$1,508,565
64$1,614,435$1,085,167$959,178$1,592,589
65$1,729,445$1,088,678$941,648$1,683,618
66$1,854,622$1,090,796$921,967$1,782,345
67$1,990,953$1,091,405$900,012$1,889,529
68$2,139,526$1,090,379$875,658$2,006,011
69$2,301,536$1,087,587$848,771$2,132,715
70$2,478,300$1,082,886$819,212$2,270,661
71$2,671,267$1,076,128$786,837$2,420,974
72$2,882,033$1,067,155$751,492$2,584,893
73$3,112,353$1,055,798$713,020$2,763,785
74$3,364,161$1,041,880$671,254$2,959,156
75$3,639,585$1,025,212$626,021$3,172,669
76$3,940,969$1,005,594$577,139$3,406,155
77$4,270,895$982,814$524,420$3,661,633
78$4,632,202$956,649$467,664$3,941,329
79$5,028,022$926,860$406,667$4,247,699
80$5,461,801$893,197$341,210$4,583,449
81$5,937,334$855,393$271,070$4,951,563
82$6,458,803$813,167$196,011$5,355,331
83$7,030,810$766,222$115,787$5,798,380
84$7,658,428$714,242$30,142$6,284,707
85$8,347,244$656,896$0$6,818,723
86$9,103,409$593,831$0$7,413,130
87$9,933,703$524,675$0$8,070,072
88$10,845,593$449,035$0$8,791,631
89$11,847,302$366,497$0$9,584,356
90$12,947,893$276,621$0$10,455,470
91$14,157,347$178,945$0$11,412,928
92$15,486,661$72,978$0$12,465,501
93$16,947,952$0$0$13,622,853
94$18,554,566$0$0$14,902,535
95$20,321,210$0$0$16,322,977
96$22,264,084$0$0$17,885,167
97$24,401,040$0$0$19,603,462
98$26,751,746$0$0$21,493,686
99$29,337,870$0$0$23,573,268
100$32,183,288$0$0$25,861,415