Can I retire at age 58 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$81,753$81,025$80,315$79,621$78,944$77,925
2 years$40,472$39,718$38,988$38,279$37,592$36,567
3 years$26,713$25,956$25,228$24,526$23,850$22,851
4 years$19,835$19,081$18,359$17,670$17,010$16,044
5 years$15,710$14,959$14,248$13,572$12,931$12,001
6 years$12,960$12,215$11,514$10,854$10,232$9,339
7 years$10,997$10,259$9,568$8,923$8,321$7,466
8 years$9,525$8,793$8,115$7,486$6,903$6,086
9 years$8,381$7,656$6,989$6,376$5,813$5,033
10 years$7,466$6,749$6,093$5,496$4,953$4,210
11 years$6,718$6,008$5,364$4,783$4,260$3,553
12 years$6,095$5,392$4,761$4,196$3,692$3,019
13 years$5,569$4,873$4,253$3,704$3,219$2,581
14 years$5,118$4,430$3,822$3,288$2,822$2,217
15 years$4,727$4,046$3,451$2,932$2,485$1,912
16 years$4,386$3,713$3,128$2,626$2,196$1,655
17 years$4,085$3,419$2,847$2,359$1,947$1,436
18 years$3,818$3,159$2,599$2,126$1,731$1,250
19 years$3,579$2,928$2,379$1,921$1,543$1,089
20 years$3,365$2,721$2,183$1,740$1,378$951
21 years$3,171$2,534$2,008$1,579$1,233$832
22 years$2,995$2,366$1,851$1,436$1,106$729
23 years$2,834$2,213$1,709$1,308$992$639
24 years$2,687$2,073$1,581$1,193$892$561
25 years$2,552$1,946$1,464$1,089$803$493
26 years$2,428$1,829$1,358$996$723$433
27 years$2,313$1,721$1,261$912$652$381
28 years$2,206$1,622$1,172$835$588$336
29 years$2,107$1,530$1,091$766$531$296
30 years$2,015$1,445$1,016$703$480$261
31 years$1,929$1,366$947$646$434$230
32 years$1,848$1,292$884$593$392$203
33 years$1,773$1,224$825$546$355$179
34 years$1,702$1,160$771$502$322$158
35 years$1,635$1,100$721$462$291$139
36 years$1,572$1,044$674$426$264$123
37 years$1,513$992$631$392$239$108
38 years$1,457$942$591$361$217$96
39 years$1,404$896$554$333$197$85
40 years$1,353$853$519$307$178$75
41 years$1,306$812$487$284$162$66
42 years$1,260$773$456$262$147$58
43 years$1,217$737$428$242$133$52
44 years$1,176$702$402$223$121$46
45 years$1,137$669$378$206$110$40
46 years$1,100$639$355$190$100$36
47 years$1,064$609$333$176$91$31
48 years$1,030$582$313$162$82$28
49 years$998$556$294$150$75$25
50 years$967$531$277$139$68$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $990,000, adding $5,456 every year, while hoping to spend $29,736 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: 68/26/6 Blend
57$990,000$990,000$990,000$990,000
58$1,096,608$1,044,138$1,028,793$1,169,854
59$1,176,823$1,063,662$1,031,619$1,238,599
60$1,264,223$1,083,146$1,033,542$1,309,611
61$1,359,511$1,102,556$1,034,502$1,386,455
62$1,463,457$1,121,858$1,034,434$1,469,697
63$1,576,912$1,141,011$1,033,270$1,559,960
64$1,700,811$1,159,974$1,030,939$1,657,927
65$1,836,184$1,178,703$1,027,365$1,764,355
66$1,984,164$1,197,150$1,022,472$1,880,074
67$2,146,000$1,215,262$1,016,176$2,006,001
68$2,323,067$1,232,984$1,008,392$2,143,146
69$2,516,876$1,250,256$999,030$2,292,620
70$2,729,095$1,267,017$987,995$2,455,650
71$2,961,559$1,283,196$975,189$2,633,585
72$3,216,288$1,298,723$960,508$2,827,915
73$3,495,507$1,313,519$943,843$3,040,278
74$3,801,669$1,327,501$925,082$3,272,483
75$4,137,472$1,340,581$904,105$3,526,521
76$4,505,890$1,352,666$880,788$3,804,586
77$4,910,198$1,363,654$855,002$4,109,099
78$5,354,004$1,373,438$826,610$4,442,724
79$5,841,282$1,381,906$795,471$4,808,399
80$6,376,409$1,388,935$761,435$5,209,364
81$6,964,207$1,394,397$724,347$5,649,188
82$7,609,988$1,398,156$684,046$6,131,802
83$8,319,606$1,400,064$640,360$6,661,544
84$9,099,506$1,399,968$593,113$7,243,191
85$9,956,793$1,397,703$542,119$7,882,009
86$10,899,290$1,393,095$487,184$8,583,803
87$11,935,620$1,385,959$428,107$9,354,971
88$13,075,280$1,376,098$364,676$10,202,564
89$14,328,736$1,363,304$296,669$11,134,353
90$15,707,517$1,347,356$223,858$12,158,904
91$17,224,327$1,328,020$146,001$13,285,659
92$18,893,163$1,305,047$62,847$14,525,022
93$20,729,447$1,278,176$0$15,888,463
94$22,750,172$1,247,127$0$17,390,281
95$24,974,059$1,211,606$0$19,047,150
96$27,421,739$1,171,301$0$20,870,418
97$30,115,942$1,125,881$0$22,877,027
98$33,081,716$1,074,996$0$25,085,653
99$36,346,658$1,018,278$0$27,516,874
100$39,941,178$955,334$0$30,193,372