Can I retire at age 58 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$81,836$81,107$80,396$79,702$79,024$76,220
2 years$40,513$39,758$39,027$38,318$37,630$34,835
3 years$26,740$25,982$25,253$24,551$23,874$21,176
4 years$19,855$19,100$18,378$17,687$17,027$14,446
5 years$15,725$14,975$14,262$13,586$12,944$10,487
6 years$12,973$12,228$11,526$10,865$10,242$7,911
7 years$11,008$10,269$9,578$8,932$8,330$6,124
8 years$9,535$8,802$8,123$7,493$6,910$4,829
9 years$8,389$7,664$6,996$6,382$5,819$3,859
10 years$7,474$6,755$6,099$5,502$4,958$3,115
11 years$6,725$6,014$5,370$4,788$4,264$2,535
12 years$6,102$5,398$4,766$4,200$3,695$2,076
13 years$5,575$4,878$4,258$3,708$3,222$1,708
14 years$5,123$4,434$3,826$3,291$2,825$1,411
15 years$4,732$4,051$3,454$2,935$2,487$1,170
16 years$4,391$3,716$3,132$2,628$2,198$972
17 years$4,089$3,423$2,850$2,362$1,949$809
18 years$3,822$3,163$2,601$2,128$1,733$675
19 years$3,583$2,931$2,381$1,923$1,545$564
20 years$3,368$2,724$2,186$1,742$1,380$472
21 years$3,174$2,537$2,010$1,581$1,235$395
22 years$2,998$2,368$1,853$1,437$1,107$331
23 years$2,837$2,215$1,711$1,309$993$278
24 years$2,690$2,075$1,582$1,194$893$233
25 years$2,555$1,948$1,465$1,090$804$196
26 years$2,430$1,830$1,359$997$724$164
27 years$2,315$1,723$1,262$912$653$138
28 years$2,209$1,623$1,173$836$589$116
29 years$2,110$1,531$1,092$767$532$98
30 years$2,017$1,446$1,017$704$480$82
31 years$1,931$1,367$948$646$434$69
32 years$1,850$1,294$885$594$393$58
33 years$1,775$1,225$826$546$356$49
34 years$1,704$1,161$772$502$322$41
35 years$1,637$1,101$721$463$292$35
36 years$1,574$1,045$675$426$264$29
37 years$1,515$993$632$392$239$24
38 years$1,458$943$592$362$217$21
39 years$1,405$897$554$334$197$17
40 years$1,355$854$519$308$179$15
41 years$1,307$812$487$284$162$12
42 years$1,262$774$457$262$147$10
43 years$1,219$737$429$242$133$9
44 years$1,177$703$402$223$121$7
45 years$1,138$670$378$206$110$6
46 years$1,101$639$355$190$100$5
47 years$1,065$610$333$176$91$4
48 years$1,031$582$313$163$82$4
49 years$999$556$295$150$75$3
50 years$968$531$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $991,000, adding $6,294 every year, while hoping to spend $35,820 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: 50/37/13 Blend
57$991,000$991,000$991,000$991,000
58$1,098,574$1,046,051$1,030,691$1,149,320
59$1,172,517$1,059,196$1,027,107$1,197,960
60$1,252,801$1,071,783$1,022,202$1,246,511
61$1,340,035$1,083,750$1,015,895$1,298,466
62$1,434,890$1,095,025$1,008,099$1,354,153
63$1,538,103$1,105,535$998,724$1,413,940
64$1,650,484$1,115,201$987,676$1,478,230
65$1,772,927$1,123,939$974,856$1,547,467
66$1,906,412$1,131,659$960,161$1,622,146
67$2,052,021$1,138,265$943,481$1,702,810
68$2,210,944$1,143,657$924,705$1,790,059
69$2,384,490$1,147,726$903,712$1,884,558
70$2,574,101$1,150,357$880,379$1,987,040
71$2,781,363$1,151,428$854,575$2,098,315
72$3,008,024$1,150,810$826,166$2,219,276
73$3,256,008$1,148,365$795,007$2,350,912
74$3,527,432$1,143,947$760,952$2,494,313
75$3,824,631$1,137,401$723,844$2,650,683
76$4,150,172$1,128,562$683,522$2,821,353
77$4,506,884$1,117,256$639,814$3,007,790
78$4,897,882$1,103,298$592,544$3,211,616
79$5,326,599$1,086,492$541,527$3,434,621
80$5,796,812$1,066,630$486,568$3,678,779
81$6,312,684$1,043,492$427,465$3,946,272
82$6,878,799$1,016,845$364,007$4,239,508
83$7,500,209$986,443$295,974$4,561,144
84$8,182,475$952,024$223,134$4,914,113
85$8,931,726$913,311$145,247$5,301,652
86$9,754,711$870,012$62,062$5,727,332
87$10,658,867$821,818$0$6,195,097
88$11,652,386$768,402$0$6,713,002
89$12,744,293$709,417$0$7,291,569
90$13,944,530$644,498$0$7,927,518
91$15,264,052$573,258$0$8,626,733
92$16,714,926$495,289$0$9,395,705
93$18,310,448$410,158$0$10,241,592
94$20,065,268$317,409$0$11,172,290
95$21,995,524$216,561$0$12,196,503
96$24,119,000$107,105$0$13,323,831
97$26,455,289$0$0$14,564,863
98$29,025,977$0$0$15,935,953
99$31,854,852$0$0$17,492,856
100$34,968,121$0$0$19,206,404