Can I retire at age 58 with 991,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12.6%
1 years$81,836$81,107$80,396$79,702$79,024$78,166
2 years$40,513$39,758$39,027$38,318$37,630$36,767
3 years$26,740$25,982$25,253$24,551$23,874$23,031
4 years$19,855$19,100$18,378$17,687$17,027$16,212
5 years$15,725$14,975$14,262$13,586$12,944$12,158
6 years$12,973$12,228$11,526$10,865$10,242$9,487
7 years$11,008$10,269$9,578$8,932$8,330$7,606
8 years$9,535$8,802$8,123$7,493$6,910$6,217
9 years$8,389$7,664$6,996$6,382$5,819$5,157
10 years$7,474$6,755$6,099$5,502$4,958$4,327
11 years$6,725$6,014$5,370$4,788$4,264$3,663
12 years$6,102$5,398$4,766$4,200$3,695$3,123
13 years$5,575$4,878$4,258$3,708$3,222$2,678
14 years$5,123$4,434$3,826$3,291$2,825$2,308
15 years$4,732$4,051$3,454$2,935$2,487$1,998
16 years$4,391$3,716$3,132$2,628$2,198$1,735
17 years$4,089$3,423$2,850$2,362$1,949$1,511
18 years$3,822$3,163$2,601$2,128$1,733$1,319
19 years$3,583$2,931$2,381$1,923$1,545$1,154
20 years$3,368$2,724$2,186$1,742$1,380$1,012
21 years$3,174$2,537$2,010$1,581$1,235$888
22 years$2,998$2,368$1,853$1,437$1,107$781
23 years$2,837$2,215$1,711$1,309$993$688
24 years$2,690$2,075$1,582$1,194$893$606
25 years$2,555$1,948$1,465$1,090$804$534
26 years$2,430$1,830$1,359$997$724$472
27 years$2,315$1,723$1,262$912$653$417
28 years$2,209$1,623$1,173$836$589$368
29 years$2,110$1,531$1,092$767$532$326
30 years$2,017$1,446$1,017$704$480$288
31 years$1,931$1,367$948$646$434$255
32 years$1,850$1,294$885$594$393$226
33 years$1,775$1,225$826$546$356$200
34 years$1,704$1,161$772$502$322$177
35 years$1,637$1,101$721$463$292$157
36 years$1,574$1,045$675$426$264$139
37 years$1,515$993$632$392$239$124
38 years$1,458$943$592$362$217$110
39 years$1,405$897$554$334$197$97
40 years$1,355$854$519$308$179$86
41 years$1,307$812$487$284$162$77
42 years$1,262$774$457$262$147$68
43 years$1,219$737$429$242$133$60
44 years$1,177$703$402$223$121$53
45 years$1,138$670$378$206$110$47
46 years$1,101$639$355$190$100$42
47 years$1,065$610$333$176$91$37
48 years$1,031$582$313$163$82$33
49 years$999$556$295$150$75$29
50 years$968$531$277$139$68$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $991,000, adding $3,072 every year, while hoping to spend $22,702 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: 60/34/6 Blend
57$991,000$991,000$991,000$991,000
58$1,095,251$1,042,728$1,027,367$1,159,533
59$1,182,812$1,069,667$1,037,629$1,229,855
60$1,278,543$1,097,165$1,047,474$1,303,631
61$1,383,254$1,125,225$1,056,864$1,383,519
62$1,497,835$1,153,851$1,065,759$1,470,107
63$1,623,270$1,183,045$1,074,117$1,564,041
64$1,760,637$1,212,808$1,081,893$1,666,034
65$1,911,127$1,243,140$1,089,042$1,776,871
66$2,076,050$1,274,043$1,095,513$1,897,414
67$2,256,850$1,305,514$1,101,256$2,028,615
68$2,455,117$1,337,552$1,106,216$2,171,522
69$2,672,601$1,370,154$1,110,337$2,327,286
70$2,911,231$1,403,317$1,113,558$2,497,178
71$3,173,131$1,437,034$1,115,816$2,682,598
72$3,460,641$1,471,299$1,117,046$2,885,085
73$3,776,338$1,506,104$1,117,179$3,106,336
74$4,123,062$1,541,440$1,116,142$3,348,223
75$4,503,940$1,577,296$1,113,858$3,612,803
76$4,922,417$1,613,660$1,110,248$3,902,345
77$5,382,291$1,650,516$1,105,229$4,219,350
78$5,887,741$1,687,848$1,098,711$4,566,571
79$6,443,377$1,725,638$1,090,603$4,947,042
80$7,054,272$1,763,865$1,080,809$5,364,106
81$7,726,018$1,802,506$1,069,227$5,821,445
82$8,464,778$1,841,535$1,055,752$6,323,117
83$9,277,339$1,880,923$1,040,273$6,873,595
84$10,171,179$1,920,640$1,022,674$7,477,804
85$11,154,538$1,960,650$1,002,833$8,141,173
86$12,236,496$2,000,917$980,623$8,869,684
87$13,427,056$2,041,399$955,911$9,669,929
88$14,737,240$2,082,052$928,558$10,549,170
89$16,179,192$2,122,826$898,418$11,515,412
90$17,766,295$2,163,669$865,340$12,577,474
91$19,513,291$2,204,524$829,163$13,745,075
92$21,436,429$2,245,327$789,722$15,028,924
93$23,553,609$2,286,012$746,842$16,440,825
94$25,884,557$2,326,507$700,341$17,993,782
95$28,451,009$2,366,734$650,030$19,702,127
96$31,276,916$2,406,607$595,710$21,581,655
97$34,388,668$2,446,037$537,173$23,649,770
98$37,815,346$2,484,927$474,202$25,925,653
99$41,588,995$2,523,172$406,571$28,430,440
100$45,744,925$2,560,661$334,044$31,187,424