Can I retire at age 58 with 995,000?

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 $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%12.6%
1 years$82,166$81,434$80,720$80,023$79,343$78,481
2 years$40,676$39,919$39,185$38,473$37,782$36,915
3 years$26,848$26,087$25,355$24,650$23,971$23,124
4 years$19,935$19,177$18,452$17,759$17,096$16,277
5 years$15,789$15,035$14,319$13,640$12,996$12,207
6 years$13,025$12,277$11,572$10,908$10,283$9,526
7 years$11,052$10,310$9,617$8,968$8,363$7,636
8 years$9,573$8,838$8,156$7,523$6,938$6,243
9 years$8,423$7,695$7,024$6,408$5,843$5,178
10 years$7,504$6,783$6,124$5,524$4,978$4,344
11 years$6,752$6,038$5,392$4,808$4,282$3,677
12 years$6,126$5,420$4,785$4,217$3,710$3,135
13 years$5,597$4,898$4,275$3,723$3,235$2,689
14 years$5,144$4,452$3,841$3,305$2,836$2,318
15 years$4,751$4,067$3,468$2,947$2,497$2,006
16 years$4,408$3,731$3,144$2,639$2,207$1,742
17 years$4,106$3,436$2,861$2,371$1,957$1,517
18 years$3,837$3,175$2,612$2,137$1,740$1,324
19 years$3,597$2,943$2,391$1,931$1,551$1,159
20 years$3,382$2,735$2,194$1,749$1,385$1,016
21 years$3,187$2,547$2,018$1,587$1,240$892
22 years$3,010$2,378$1,860$1,443$1,111$784
23 years$2,849$2,224$1,718$1,314$997$690
24 years$2,701$2,084$1,588$1,199$897$608
25 years$2,565$1,955$1,471$1,095$807$537
26 years$2,440$1,838$1,365$1,001$727$474
27 years$2,325$1,730$1,267$916$655$418
28 years$2,218$1,630$1,178$839$591$370
29 years$2,118$1,537$1,096$770$534$327
30 years$2,025$1,452$1,021$706$482$289
31 years$1,939$1,373$952$649$436$256
32 years$1,858$1,299$888$596$394$227
33 years$1,782$1,230$829$548$357$201
34 years$1,711$1,166$775$504$323$178
35 years$1,644$1,106$724$464$293$158
36 years$1,580$1,049$678$428$265$140
37 years$1,521$997$634$394$240$124
38 years$1,464$947$594$363$218$110
39 years$1,411$901$556$335$198$98
40 years$1,360$857$522$309$179$87
41 years$1,312$816$489$285$163$77
42 years$1,267$777$459$263$148$68
43 years$1,223$740$430$243$134$60
44 years$1,182$706$404$224$122$54
45 years$1,143$673$379$207$110$48
46 years$1,105$642$356$191$100$42
47 years$1,070$613$335$177$91$38
48 years$1,035$585$315$163$83$33
49 years$1,003$558$296$151$75$30
50 years$971$533$278$139$68$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $995,000, adding $4,617 every year, while hoping to spend $39,942 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: 54/25/21 Blend
57$995,000$995,000$995,000$995,000
58$1,101,252$1,048,517$1,033,095$1,154,171
59$1,171,082$1,057,397$1,025,206$1,199,856
60$1,246,696$1,065,373$1,015,713$1,244,983
61$1,328,641$1,072,358$1,004,522$1,293,253
62$1,417,521$1,078,262$991,532$1,344,978
63$1,513,997$1,082,986$976,637$1,400,505
64$1,618,798$1,086,425$959,728$1,460,214
65$1,732,726$1,088,470$940,689$1,524,531
66$1,856,661$1,089,003$919,400$1,593,922
67$1,991,575$1,087,899$895,734$1,668,904
68$2,138,535$1,085,025$869,560$1,750,050
69$2,298,714$1,080,240$840,739$1,837,991
70$2,473,407$1,073,395$809,127$1,933,427
71$2,664,035$1,064,332$774,574$2,037,130
72$2,872,165$1,052,883$736,920$2,149,954
73$3,099,520$1,038,869$696,002$2,272,842
74$3,348,000$1,022,102$651,647$2,406,837
75$3,619,693$1,002,382$603,673$2,553,090
76$3,916,899$979,496$551,894$2,712,876
77$4,242,153$953,221$496,113$2,887,599
78$4,598,243$923,320$436,123$3,078,814
79$4,988,240$889,539$371,710$3,288,234
80$5,415,529$851,615$302,650$3,517,756
81$5,883,833$809,264$228,709$3,769,471
82$6,397,256$762,190$149,643$4,045,690
83$6,960,316$710,077$65,196$4,348,965
84$7,577,990$652,592$0$4,682,111
85$8,255,760$589,384$0$5,053,823
86$8,999,664$520,081$0$5,477,903
87$9,816,353$444,289$0$5,943,581
88$10,713,155$361,593$0$6,455,108
89$11,698,140$271,554$0$7,017,171
90$12,780,199$173,709$0$7,634,938
91$13,969,127$67,568$0$8,314,110
92$15,275,714$0$0$9,060,972
93$16,711,847$0$0$9,895,490
94$18,290,623$0$0$10,833,432
95$20,026,471$0$0$11,864,796
96$21,935,287$0$0$12,999,038
97$24,034,584$0$0$14,246,580
98$26,343,660$0$0$15,618,904
99$28,883,774$0$0$17,128,658
100$31,678,352$0$0$18,789,781