Can I retire at age 58 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$81,918$81,189$80,477$79,782$79,103$77,665
2 years$40,554$39,798$39,066$38,357$37,668$36,224
3 years$26,767$26,009$25,279$24,576$23,898$22,494
4 years$19,875$19,119$18,396$17,705$17,044$15,690
5 years$15,741$14,990$14,276$13,599$12,957$11,657
6 years$12,986$12,240$11,537$10,876$10,252$9,008
7 years$11,019$10,279$9,588$8,941$8,338$7,149
8 years$9,544$8,811$8,131$7,501$6,917$5,784
9 years$8,398$7,672$7,003$6,389$5,825$4,747
10 years$7,481$6,762$6,106$5,507$4,963$3,939
11 years$6,732$6,020$5,375$4,793$4,269$3,297
12 years$6,108$5,403$4,770$4,204$3,699$2,779
13 years$5,580$4,883$4,262$3,712$3,226$2,355
14 years$5,128$4,439$3,829$3,295$2,828$2,006
15 years$4,737$4,055$3,458$2,938$2,490$1,715
16 years$4,395$3,720$3,135$2,631$2,200$1,470
17 years$4,093$3,426$2,852$2,364$1,951$1,264
18 years$3,826$3,166$2,604$2,130$1,735$1,090
19 years$3,587$2,934$2,384$1,925$1,546$941
20 years$3,371$2,726$2,188$1,743$1,381$814
21 years$3,177$2,540$2,012$1,582$1,236$705
22 years$3,001$2,371$1,855$1,439$1,108$611
23 years$2,840$2,217$1,712$1,310$994$531
24 years$2,693$2,077$1,584$1,195$894$461
25 years$2,558$1,950$1,467$1,091$804$401
26 years$2,433$1,832$1,360$998$725$349
27 years$2,318$1,724$1,263$913$653$304
28 years$2,211$1,625$1,174$837$589$265
29 years$2,112$1,533$1,093$767$532$231
30 years$2,019$1,448$1,018$704$481$201
31 years$1,933$1,368$949$647$435$175
32 years$1,852$1,295$885$594$393$153
33 years$1,777$1,226$827$547$356$134
34 years$1,705$1,162$772$503$322$117
35 years$1,639$1,102$722$463$292$102
36 years$1,576$1,046$676$426$264$89
37 years$1,516$994$632$393$240$78
38 years$1,460$944$592$362$217$68
39 years$1,407$898$555$334$197$59
40 years$1,356$854$520$308$179$52
41 years$1,308$813$488$284$162$45
42 years$1,263$775$457$262$147$39
43 years$1,220$738$429$242$134$34
44 years$1,179$703$403$224$121$30
45 years$1,139$671$378$206$110$26
46 years$1,102$640$355$191$100$23
47 years$1,066$611$334$176$91$20
48 years$1,032$583$314$163$82$18
49 years$1,000$557$295$150$75$15
50 years$969$532$277$139$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $992,000, adding $2,234 every year, while hoping to spend $30,230 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: 71/18/11 Blend
57$992,000$992,000$992,000$992,000
58$1,095,488$1,042,912$1,027,536$1,170,674
59$1,175,064$1,061,851$1,029,794$1,239,696
60$1,261,743$1,080,704$1,031,115$1,311,311
61$1,356,218$1,099,435$1,031,434$1,388,892
62$1,459,251$1,118,007$1,030,687$1,473,021
63$1,571,682$1,136,376$1,028,802$1,564,338
64$1,694,434$1,154,499$1,025,707$1,663,548
65$1,828,523$1,172,327$1,021,325$1,771,431
66$1,975,069$1,189,807$1,015,576$1,888,843
67$2,135,304$1,206,886$1,008,376$2,016,727
68$2,310,584$1,223,503$999,636$2,156,124
69$2,502,404$1,239,594$989,264$2,308,180
70$2,712,407$1,255,093$977,163$2,474,159
71$2,942,406$1,269,926$963,231$2,655,453
72$3,194,395$1,284,015$947,362$2,853,595
73$3,470,570$1,297,279$929,446$3,070,276
74$3,773,351$1,309,628$909,365$3,307,360
75$4,105,402$1,320,970$886,998$3,566,899
76$4,469,659$1,331,203$862,218$3,851,157
77$4,869,353$1,340,220$834,891$4,162,628
78$5,308,045$1,347,909$804,878$4,504,059
79$5,789,657$1,354,149$772,034$4,878,482
80$6,318,510$1,358,810$736,204$5,289,234
81$6,899,363$1,361,756$697,232$5,739,995
82$7,537,457$1,362,842$654,949$6,234,822
83$8,238,570$1,361,913$609,182$6,778,184
84$9,009,064$1,358,807$559,749$7,375,008
85$9,855,948$1,353,348$506,460$8,030,725
86$10,786,945$1,345,352$449,117$8,751,319
87$11,810,563$1,334,624$387,512$9,543,388
88$12,936,175$1,320,955$321,428$10,414,201
89$14,174,110$1,304,126$250,641$11,371,772
90$15,535,744$1,283,904$174,913$12,424,933
91$17,033,616$1,260,041$93,998$13,583,418
92$18,681,537$1,232,275$7,639$14,857,956
93$20,494,726$1,200,329$0$16,260,372
94$22,489,952$1,163,909$0$17,813,619
95$24,685,692$1,122,705$0$19,523,743
96$27,102,302$1,076,388$0$21,405,713
97$29,762,215$1,024,609$0$23,477,013
98$32,690,147$967,000$0$25,756,913
99$35,913,331$903,173$0$28,266,647
100$39,461,777$832,715$0$31,029,618