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%18.4%
1 years$82,249$81,516$80,801$80,104$79,422$76,727
2 years$40,717$39,959$39,224$38,511$37,820$35,131
3 years$26,875$26,114$25,380$24,675$23,995$21,397
4 years$19,956$19,196$18,470$17,777$17,113$14,627
5 years$15,805$15,050$14,334$13,654$13,009$10,640
6 years$13,039$12,290$11,584$10,919$10,294$8,045
7 years$11,063$10,321$9,626$8,977$8,372$6,242
8 years$9,583$8,847$8,164$7,531$6,945$4,933
9 years$8,432$7,703$7,032$6,415$5,849$3,952
10 years$7,511$6,790$6,130$5,530$4,983$3,198
11 years$6,759$6,044$5,397$4,812$4,286$2,609
12 years$6,132$5,425$4,790$4,221$3,714$2,142
13 years$5,603$4,903$4,279$3,727$3,239$1,768
14 years$5,149$4,456$3,845$3,308$2,839$1,465
15 years$4,756$4,071$3,471$2,950$2,500$1,217
16 years$4,413$3,735$3,147$2,642$2,209$1,015
17 years$4,110$3,440$2,864$2,373$1,959$847
18 years$3,841$3,179$2,614$2,139$1,742$709
19 years$3,601$2,946$2,393$1,933$1,552$594
20 years$3,385$2,737$2,197$1,750$1,387$499
21 years$3,190$2,550$2,020$1,589$1,241$419
22 years$3,013$2,380$1,862$1,444$1,112$352
23 years$2,851$2,226$1,719$1,315$998$296
24 years$2,704$2,086$1,590$1,200$897$249
25 years$2,568$1,957$1,473$1,096$808$210
26 years$2,443$1,840$1,366$1,002$727$177
27 years$2,327$1,731$1,268$917$656$149
28 years$2,220$1,631$1,179$840$592$126
29 years$2,120$1,539$1,097$770$534$106
30 years$2,027$1,453$1,022$707$483$90
31 years$1,941$1,374$953$649$437$76
32 years$1,860$1,300$889$597$395$64
33 years$1,784$1,231$830$549$357$54
34 years$1,712$1,167$776$505$324$45
35 years$1,645$1,107$725$465$293$38
36 years$1,582$1,050$678$428$266$32
37 years$1,522$998$635$394$241$27
38 years$1,466$948$595$364$218$23
39 years$1,412$902$557$335$198$19
40 years$1,362$858$522$309$179$16
41 years$1,314$817$490$285$163$14
42 years$1,268$778$459$263$148$12
43 years$1,225$741$431$243$134$10
44 years$1,183$706$404$224$122$8
45 years$1,144$674$380$207$110$7
46 years$1,107$643$357$191$100$6
47 years$1,071$613$335$177$91$5
48 years$1,036$585$315$163$83$4
49 years$1,004$559$296$151$75$4
50 years$972$534$278$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $996,000, adding $3,732 every year, while hoping to spend $30,663 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: 83/6/11 Blend
57$996,000$996,000$996,000$996,000
58$1,101,442$1,048,654$1,033,216$1,190,556
59$1,181,163$1,067,412$1,035,203$1,268,211
60$1,267,989$1,086,063$1,036,230$1,349,012
61$1,362,611$1,104,567$1,036,230$1,436,820
62$1,465,791$1,122,884$1,035,138$1,532,323
63$1,578,367$1,140,971$1,032,880$1,636,277
64$1,701,263$1,158,781$1,029,384$1,749,514
65$1,835,494$1,176,263$1,024,571$1,872,953
66$1,982,179$1,193,365$1,018,358$2,007,602
67$2,142,549$1,210,027$1,010,660$2,154,576
68$2,317,959$1,226,189$1,001,388$2,315,100
69$2,509,902$1,241,784$990,446$2,490,525
70$2,720,023$1,256,741$977,736$2,682,338
71$2,950,130$1,270,987$963,155$2,892,179
72$3,202,217$1,284,439$946,595$3,121,853
73$3,478,479$1,297,012$927,942$3,373,350
74$3,781,333$1,308,615$907,077$3,648,862
75$4,113,442$1,319,150$883,877$3,950,803
76$4,477,738$1,328,513$858,212$4,281,836
77$4,877,450$1,336,594$829,945$4,644,891
78$5,316,138$1,343,274$798,936$5,043,200
79$5,797,719$1,348,430$765,036$5,480,323
80$6,326,511$1,351,927$728,088$5,960,182
81$6,907,268$1,353,625$687,932$6,487,098
82$7,545,229$1,353,372$644,398$7,065,836
83$8,246,165$1,351,010$597,308$7,701,644
84$9,016,433$1,346,368$546,476$8,400,304
85$9,863,036$1,339,268$491,711$9,168,189
86$10,793,692$1,329,518$432,809$10,012,323
87$11,816,900$1,316,916$369,560$10,940,443
88$12,942,026$1,301,247$301,743$11,961,079
89$14,179,389$1,282,284$229,127$13,083,627
90$15,540,358$1,259,787$151,474$14,318,444
91$17,037,457$1,233,499$68,531$15,676,942
92$18,684,487$1,203,151$0$17,171,698
93$20,496,655$1,168,455$0$18,818,915
94$22,490,714$1,129,110$0$20,640,259
95$24,685,124$1,084,793$0$22,644,541
96$27,100,225$1,035,167$0$24,850,343
97$29,758,429$979,871$0$27,278,143
98$32,684,431$918,526$0$29,950,504
99$35,905,439$850,730$0$32,892,287
100$39,451,437$776,059$0$36,130,890