Can I retire at age 58 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$82,249$81,516$80,801$80,104$79,422$78,333
2 years$40,717$39,959$39,224$38,511$37,820$36,724
3 years$26,875$26,114$25,380$24,675$23,995$22,926
4 years$19,956$19,196$18,470$17,777$17,113$16,081
5 years$15,805$15,050$14,334$13,654$13,009$12,016
6 years$13,039$12,290$11,584$10,919$10,294$9,341
7 years$11,063$10,321$9,626$8,977$8,372$7,459
8 years$9,583$8,847$8,164$7,531$6,945$6,073
9 years$8,432$7,703$7,032$6,415$5,849$5,017
10 years$7,511$6,790$6,130$5,530$4,983$4,191
11 years$6,759$6,044$5,397$4,812$4,286$3,532
12 years$6,132$5,425$4,790$4,221$3,714$2,998
13 years$5,603$4,903$4,279$3,727$3,239$2,560
14 years$5,149$4,456$3,845$3,308$2,839$2,196
15 years$4,756$4,071$3,471$2,950$2,500$1,891
16 years$4,413$3,735$3,147$2,642$2,209$1,635
17 years$4,110$3,440$2,864$2,373$1,959$1,417
18 years$3,841$3,179$2,614$2,139$1,742$1,231
19 years$3,601$2,946$2,393$1,933$1,552$1,071
20 years$3,385$2,737$2,197$1,750$1,387$934
21 years$3,190$2,550$2,020$1,589$1,241$816
22 years$3,013$2,380$1,862$1,444$1,112$714
23 years$2,851$2,226$1,719$1,315$998$625
24 years$2,704$2,086$1,590$1,200$897$548
25 years$2,568$1,957$1,473$1,096$808$480
26 years$2,443$1,840$1,366$1,002$727$422
27 years$2,327$1,731$1,268$917$656$370
28 years$2,220$1,631$1,179$840$592$326
29 years$2,120$1,539$1,097$770$534$286
30 years$2,027$1,453$1,022$707$483$252
31 years$1,941$1,374$953$649$437$222
32 years$1,860$1,300$889$597$395$195
33 years$1,784$1,231$830$549$357$172
34 years$1,712$1,167$776$505$324$151
35 years$1,645$1,107$725$465$293$133
36 years$1,582$1,050$678$428$266$118
37 years$1,522$998$635$394$241$104
38 years$1,466$948$595$364$218$91
39 years$1,412$902$557$335$198$81
40 years$1,362$858$522$309$179$71
41 years$1,314$817$490$285$163$63
42 years$1,268$778$459$263$148$55
43 years$1,225$741$431$243$134$49
44 years$1,183$706$404$224$122$43
45 years$1,144$674$380$207$110$38
46 years$1,107$643$357$191$100$33
47 years$1,071$613$335$177$91$30
48 years$1,036$585$315$163$83$26
49 years$1,004$559$296$151$75$23
50 years$972$534$278$140$68$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $996,000, adding $2,077 every year, while hoping to spend $21,827 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: 80/12/8 Blend
57$996,000$996,000$996,000$996,000
58$1,099,734$1,046,946$1,031,508$1,186,407
59$1,188,684$1,075,023$1,042,840$1,271,583
60$1,285,974$1,103,744$1,053,820$1,361,944
61$1,392,433$1,133,117$1,064,413$1,460,440
62$1,508,973$1,163,152$1,074,583$1,567,873
63$1,636,598$1,193,855$1,084,290$1,685,126
64$1,776,411$1,225,235$1,093,494$1,813,172
65$1,929,632$1,257,298$1,102,153$1,953,080
66$2,097,599$1,290,051$1,110,220$2,106,030
67$2,281,791$1,323,499$1,117,649$2,273,319
68$2,483,832$1,357,650$1,124,389$2,456,380
69$2,705,515$1,392,506$1,130,388$2,656,786
70$2,948,811$1,428,073$1,135,590$2,876,274
71$3,215,895$1,464,354$1,139,937$3,116,754
72$3,509,160$1,501,351$1,143,369$3,380,333
73$3,831,244$1,539,066$1,145,821$3,669,331
74$4,185,050$1,577,500$1,147,226$3,986,303
75$4,573,780$1,616,652$1,147,512$4,334,064
76$5,000,959$1,656,521$1,146,607$4,715,717
77$5,470,470$1,697,105$1,144,432$5,134,679
78$5,986,594$1,738,398$1,140,906$5,594,715
79$6,554,043$1,780,396$1,135,943$6,099,974
80$7,178,011$1,823,092$1,129,453$6,655,025
81$7,864,222$1,866,477$1,121,343$7,264,905
82$8,618,978$1,910,540$1,111,514$7,935,163
83$9,449,227$1,955,269$1,099,863$8,671,912
84$10,362,621$2,000,650$1,086,281$9,481,889
85$11,367,593$2,046,667$1,070,656$10,372,516
86$12,473,433$2,093,300$1,052,869$11,351,972
87$13,690,380$2,140,527$1,032,796$12,429,270
88$15,029,711$2,188,326$1,010,307$13,614,339
89$16,503,856$2,236,668$985,267$14,918,122
90$18,126,509$2,285,524$957,533$16,352,677
91$19,912,758$2,334,861$926,956$17,931,290
92$21,879,232$2,384,642$893,382$19,668,602
93$24,044,251$2,434,826$856,647$21,580,745
94$26,428,001$2,485,369$816,582$23,685,499
95$29,052,728$2,536,223$773,008$26,002,452
96$31,942,943$2,587,335$725,740$28,553,193
97$35,125,655$2,638,646$674,585$31,361,509
98$38,630,627$2,690,094$619,338$34,453,615
99$42,490,653$2,741,611$559,788$37,858,397
100$46,741,873$2,793,123$495,714$41,607,687