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%19.6%
1 years$81,753$81,025$80,315$79,621$78,944$75,902
2 years$40,472$39,718$38,988$38,279$37,592$34,564
3 years$26,713$25,956$25,228$24,526$23,850$20,930
4 years$19,835$19,081$18,359$17,670$17,010$14,221
5 years$15,710$14,959$14,248$13,572$12,931$10,280
6 years$12,960$12,215$11,514$10,854$10,232$7,721
7 years$10,997$10,259$9,568$8,923$8,321$5,950
8 years$9,525$8,793$8,115$7,486$6,903$4,669
9 years$8,381$7,656$6,989$6,376$5,813$3,713
10 years$7,466$6,749$6,093$5,496$4,953$2,982
11 years$6,718$6,008$5,364$4,783$4,260$2,414
12 years$6,095$5,392$4,761$4,196$3,692$1,966
13 years$5,569$4,873$4,253$3,704$3,219$1,609
14 years$5,118$4,430$3,822$3,288$2,822$1,322
15 years$4,727$4,046$3,451$2,932$2,485$1,090
16 years$4,386$3,713$3,128$2,626$2,196$900
17 years$4,085$3,419$2,847$2,359$1,947$745
18 years$3,818$3,159$2,599$2,126$1,731$618
19 years$3,579$2,928$2,379$1,921$1,543$513
20 years$3,365$2,721$2,183$1,740$1,378$427
21 years$3,171$2,534$2,008$1,579$1,233$355
22 years$2,995$2,366$1,851$1,436$1,106$296
23 years$2,834$2,213$1,709$1,308$992$247
24 years$2,687$2,073$1,581$1,193$892$206
25 years$2,552$1,946$1,464$1,089$803$171
26 years$2,428$1,829$1,358$996$723$143
27 years$2,313$1,721$1,261$912$652$119
28 years$2,206$1,622$1,172$835$588$100
29 years$2,107$1,530$1,091$766$531$83
30 years$2,015$1,445$1,016$703$480$70
31 years$1,929$1,366$947$646$434$58
32 years$1,848$1,292$884$593$392$49
33 years$1,773$1,224$825$546$355$41
34 years$1,702$1,160$771$502$322$34
35 years$1,635$1,100$721$462$291$28
36 years$1,572$1,044$674$426$264$24
37 years$1,513$992$631$392$239$20
38 years$1,457$942$591$361$217$17
39 years$1,404$896$554$333$197$14
40 years$1,353$853$519$307$178$12
41 years$1,306$812$487$284$162$10
42 years$1,260$773$456$262$147$8
43 years$1,217$737$428$242$133$7
44 years$1,176$702$402$223$121$6
45 years$1,137$669$378$206$110$5
46 years$1,100$639$355$190$100$4
47 years$1,064$609$333$176$91$3
48 years$1,030$582$313$162$82$3
49 years$998$556$294$150$75$2
50 years$967$531$277$139$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $990,000, adding $4,124 every year, while hoping to spend $55,053 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: 57/26/17 Blend
57$990,000$990,000$990,000$990,000
58$1,095,234$1,042,764$1,027,419$1,152,550
59$1,148,372$1,035,283$1,003,261$1,184,455
60$1,205,085$1,025,591$976,450$1,212,866
61$1,265,679$1,013,521$946,836$1,242,578
62$1,330,491$998,896$914,268$1,273,728
63$1,399,888$981,529$878,583$1,306,468
64$1,474,275$961,222$839,614$1,340,969
65$1,554,095$937,766$797,185$1,377,420
66$1,639,834$910,938$751,112$1,416,034
67$1,732,026$880,503$701,203$1,457,049
68$1,831,256$846,211$647,257$1,500,731
69$1,938,169$807,801$589,065$1,547,374
70$2,053,471$764,992$526,408$1,597,308
71$2,177,939$717,490$459,056$1,650,900
72$2,312,425$664,983$386,771$1,708,561
73$2,457,867$607,142$309,303$1,770,744
74$2,615,297$543,619$226,391$1,837,957
75$2,785,845$474,044$137,763$1,910,763
76$2,970,759$398,030$43,136$1,989,790
77$3,171,408$315,166$0$2,075,733
78$3,389,299$225,016$0$2,179,859
79$3,626,088$127,122$0$2,301,567
80$3,883,599$21,001$0$2,434,036
81$4,163,838$0$0$2,578,387
82$4,469,009$0$0$2,762,712
83$4,801,543$0$0$2,970,189
84$5,164,111$0$0$3,196,488
85$5,559,655$0$0$3,443,455
86$5,991,412$0$0$3,713,122
87$6,462,944$0$0$4,007,726
88$6,978,176$0$0$4,329,728
89$7,541,426$0$0$4,681,842
90$8,157,450$0$0$5,067,050
91$8,831,481$0$0$5,488,642
92$9,569,286$0$0$5,950,236
93$10,377,212$0$0$6,455,817
94$11,262,251$0$0$7,009,776
95$12,232,099$0$0$7,616,945
96$13,295,238$0$0$8,282,649
97$14,461,003$0$0$9,012,751
98$15,739,681$0$0$9,813,710
99$17,142,598$0$0$10,692,639
100$18,682,234$0$0$11,657,373