Can I retire at age 58 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$82,166$81,434$80,720$80,023$79,343$77,268
2 years$40,676$39,919$39,185$38,473$37,782$35,706
3 years$26,848$26,087$25,355$24,650$23,971$21,958
4 years$19,935$19,177$18,452$17,759$17,096$15,162
5 years$15,789$15,035$14,319$13,640$12,996$11,147
6 years$13,025$12,277$11,572$10,908$10,283$8,520
7 years$11,052$10,310$9,617$8,968$8,363$6,687
8 years$9,573$8,838$8,156$7,523$6,938$5,347
9 years$8,423$7,695$7,024$6,408$5,843$4,336
10 years$7,504$6,783$6,124$5,524$4,978$3,554
11 years$6,752$6,038$5,392$4,808$4,282$2,937
12 years$6,126$5,420$4,785$4,217$3,710$2,443
13 years$5,597$4,898$4,275$3,723$3,235$2,044
14 years$5,144$4,452$3,841$3,305$2,836$1,717
15 years$4,751$4,067$3,468$2,947$2,497$1,447
16 years$4,408$3,731$3,144$2,639$2,207$1,224
17 years$4,106$3,436$2,861$2,371$1,957$1,037
18 years$3,837$3,175$2,612$2,137$1,740$881
19 years$3,597$2,943$2,391$1,931$1,551$749
20 years$3,382$2,735$2,194$1,749$1,385$638
21 years$3,187$2,547$2,018$1,587$1,240$545
22 years$3,010$2,378$1,860$1,443$1,111$465
23 years$2,849$2,224$1,718$1,314$997$398
24 years$2,701$2,084$1,588$1,199$897$340
25 years$2,565$1,955$1,471$1,095$807$291
26 years$2,440$1,838$1,365$1,001$727$249
27 years$2,325$1,730$1,267$916$655$213
28 years$2,218$1,630$1,178$839$591$183
29 years$2,118$1,537$1,096$770$534$157
30 years$2,025$1,452$1,021$706$482$135
31 years$1,939$1,373$952$649$436$115
32 years$1,858$1,299$888$596$394$99
33 years$1,782$1,230$829$548$357$85
34 years$1,711$1,166$775$504$323$73
35 years$1,644$1,106$724$464$293$63
36 years$1,580$1,049$678$428$265$54
37 years$1,521$997$634$394$240$46
38 years$1,464$947$594$363$218$40
39 years$1,411$901$556$335$198$34
40 years$1,360$857$522$309$179$29
41 years$1,312$816$489$285$163$25
42 years$1,267$777$459$263$148$22
43 years$1,223$740$430$243$134$19
44 years$1,182$706$404$224$122$16
45 years$1,143$673$379$207$110$14
46 years$1,105$642$356$191$100$12
47 years$1,070$613$335$177$91$10
48 years$1,035$585$315$163$83$9
49 years$1,003$558$296$151$75$7
50 years$971$533$278$139$68$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $995,000, adding $6,848 every year, while hoping to spend $39,820 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: 44/30/26 Blend
57$995,000$995,000$995,000$995,000
58$1,103,554$1,050,819$1,035,396$1,143,523
59$1,173,748$1,059,941$1,027,714$1,181,741
60$1,249,768$1,068,175$1,018,439$1,218,791
61$1,332,164$1,075,436$1,007,478$1,258,177
62$1,421,546$1,081,633$994,729$1,300,138
63$1,518,579$1,086,669$980,088$1,344,938
64$1,623,999$1,090,441$963,446$1,392,873
65$1,738,614$1,092,839$944,688$1,444,268
66$1,863,311$1,093,747$923,694$1,499,485
67$1,999,070$1,093,041$900,339$1,558,927
68$2,146,966$1,090,591$874,490$1,623,039
69$2,308,182$1,086,256$846,012$1,692,313
70$2,484,023$1,079,888$814,759$1,767,298
71$2,675,922$1,071,332$780,583$1,848,598
72$2,885,459$1,060,420$743,325$1,936,884
73$3,114,371$1,046,976$702,822$2,032,901
74$3,364,572$1,030,813$658,901$2,137,471
75$3,638,168$1,011,732$611,384$2,251,504
76$3,937,479$989,525$560,083$2,376,010
77$4,265,058$963,968$504,803$2,512,104
78$4,623,719$934,827$445,338$2,661,021
79$5,016,557$901,852$381,475$2,824,127
80$5,446,982$864,780$312,992$3,002,932
81$5,918,751$823,331$239,654$3,199,108
82$6,436,001$777,211$161,219$3,414,502
83$7,003,286$726,107$77,433$3,651,157
84$7,625,625$669,690$0$3,911,331
85$8,308,544$607,611$0$4,200,843
86$9,058,132$539,500$0$4,542,270
87$9,881,095$464,969$0$4,917,235
88$10,784,819$383,606$0$5,329,191
89$11,777,443$294,974$0$5,781,944
90$12,867,931$198,616$0$6,279,698
91$14,066,157$94,046$0$6,827,086
92$15,383,002$0$0$7,429,223
93$16,830,452$0$0$8,098,102
94$18,421,710$0$0$8,867,698
95$20,171,325$0$0$9,714,016
96$22,095,325$0$0$10,644,825
97$24,211,368$0$0$11,668,687
98$26,538,911$0$0$12,795,032
99$29,099,390$0$0$14,034,252
100$31,916,423$0$0$15,397,798