Can I retire at age 58 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$82,001$81,271$80,558$79,862$79,183$76,895
2 years$40,595$39,839$39,106$38,395$37,706$35,419
3 years$26,794$26,035$25,304$24,600$23,922$21,708
4 years$19,895$19,138$18,415$17,723$17,062$14,937
5 years$15,757$15,005$14,291$13,613$12,970$10,941
6 years$12,999$12,253$11,549$10,886$10,263$8,331
7 years$11,030$10,290$9,597$8,950$8,346$6,512
8 years$9,554$8,820$8,139$7,508$6,924$5,186
9 years$8,406$7,680$7,010$6,395$5,831$4,187
10 years$7,489$6,769$6,112$5,513$4,968$3,417
11 years$6,739$6,026$5,381$4,798$4,273$2,811
12 years$6,114$5,409$4,775$4,208$3,703$2,328
13 years$5,586$4,888$4,266$3,715$3,229$1,938
14 years$5,133$4,443$3,833$3,298$2,831$1,620
15 years$4,742$4,059$3,461$2,941$2,492$1,359
16 years$4,399$3,724$3,138$2,634$2,203$1,143
17 years$4,098$3,429$2,855$2,366$1,953$964
18 years$3,830$3,169$2,607$2,132$1,737$815
19 years$3,590$2,937$2,386$1,927$1,548$689
20 years$3,375$2,729$2,190$1,745$1,383$584
21 years$3,180$2,542$2,014$1,584$1,237$496
22 years$3,004$2,373$1,857$1,440$1,109$421
23 years$2,843$2,219$1,714$1,312$995$358
24 years$2,695$2,079$1,585$1,196$895$304
25 years$2,560$1,951$1,468$1,092$805$259
26 years$2,435$1,834$1,362$999$725$221
27 years$2,320$1,726$1,265$914$654$188
28 years$2,213$1,626$1,176$838$590$160
29 years$2,114$1,534$1,094$768$533$137
30 years$2,021$1,449$1,019$705$481$116
31 years$1,935$1,370$950$647$435$99
32 years$1,854$1,296$886$595$394$85
33 years$1,778$1,227$828$547$356$72
34 years$1,707$1,163$773$503$323$62
35 years$1,640$1,103$723$463$292$53
36 years$1,577$1,047$676$427$265$45
37 years$1,518$995$633$393$240$38
38 years$1,461$945$593$362$218$33
39 years$1,408$899$555$334$197$28
40 years$1,358$855$521$308$179$24
41 years$1,310$814$488$284$162$20
42 years$1,264$775$458$262$147$17
43 years$1,221$739$430$242$134$15
44 years$1,180$704$403$224$121$13
45 years$1,141$671$379$207$110$11
46 years$1,103$641$356$191$100$9
47 years$1,067$611$334$176$91$8
48 years$1,033$584$314$163$82$7
49 years$1,001$557$295$151$75$6
50 years$970$532$277$139$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $993,000, adding $4,970 every year, while hoping to spend $25,765 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: 64/15/21 Blend
57$993,000$993,000$993,000$993,000
58$1,099,413$1,046,784$1,031,392$1,163,545
59$1,184,139$1,070,662$1,038,530$1,231,199
60$1,276,644$1,094,847$1,045,043$1,301,729
61$1,377,693$1,119,327$1,050,884$1,378,188
62$1,488,131$1,144,087$1,056,002$1,461,158
63$1,608,886$1,169,113$1,060,344$1,551,279
64$1,740,980$1,194,387$1,063,853$1,649,259
65$1,885,540$1,219,892$1,066,472$1,755,876
66$2,043,804$1,245,606$1,068,138$1,871,987
67$2,217,139$1,271,507$1,068,787$1,998,538
68$2,407,047$1,297,570$1,068,351$2,136,571
69$2,615,183$1,323,769$1,066,759$2,287,234
70$2,843,373$1,350,075$1,063,936$2,451,791
71$3,093,623$1,376,454$1,059,803$2,631,638
72$3,368,145$1,402,874$1,054,280$2,828,312
73$3,669,377$1,429,295$1,047,279$3,043,505
74$4,000,001$1,455,678$1,038,711$3,279,086
75$4,362,974$1,481,979$1,028,480$3,537,111
76$4,761,551$1,508,150$1,016,489$3,819,848
77$5,199,321$1,534,141$1,002,632$4,129,797
78$5,680,234$1,559,896$986,802$4,469,713
79$6,208,643$1,585,357$968,886$4,842,631
80$6,789,345$1,610,459$948,763$5,251,898
81$7,427,621$1,635,135$926,310$5,701,204
82$8,129,294$1,659,311$901,397$6,194,612
83$8,900,774$1,682,910$873,886$6,736,605
84$9,749,128$1,705,848$843,637$7,332,121
85$10,682,139$1,728,035$810,498$7,986,603
86$11,708,383$1,749,374$774,316$8,706,052
87$12,837,309$1,769,764$734,926$9,497,079
88$14,079,328$1,789,096$692,159$10,366,974
89$15,445,909$1,807,252$645,837$11,323,769
90$16,949,693$1,824,108$595,773$12,376,318
91$18,604,604$1,839,531$541,774$13,534,381
92$20,425,986$1,853,381$483,636$14,808,712
93$22,430,746$1,865,506$421,147$16,211,166
94$24,637,513$1,875,746$354,086$17,754,809
95$27,066,813$1,883,932$282,222$19,454,041
96$29,741,264$1,889,881$205,313$21,324,732
97$32,685,789$1,893,401$123,107$23,384,376
98$35,927,850$1,894,288$35,341$25,652,251
99$39,497,706$1,892,323$0$28,149,606
100$43,428,702$1,887,277$0$30,912,927