Can I retire at age 58 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$82,331$81,598$80,882$80,184$79,502$76,742
2 years$40,758$39,999$39,263$38,550$37,858$35,106
3 years$26,902$26,140$25,406$24,699$24,019$21,361
4 years$19,976$19,216$18,489$17,795$17,130$14,588
5 years$15,821$15,065$14,348$13,668$13,022$10,601
6 years$13,052$12,302$11,596$10,930$10,304$8,006
7 years$11,075$10,331$9,636$8,986$8,380$6,205
8 years$9,592$8,856$8,172$7,538$6,952$4,898
9 years$8,440$7,710$7,039$6,421$5,855$3,919
10 years$7,519$6,796$6,136$5,535$4,988$3,168
11 years$6,766$6,050$5,402$4,817$4,290$2,581
12 years$6,139$5,431$4,794$4,225$3,718$2,116
13 years$5,608$4,908$4,284$3,730$3,242$1,744
14 years$5,154$4,461$3,849$3,311$2,842$1,443
15 years$4,761$4,075$3,475$2,953$2,502$1,197
16 years$4,417$3,739$3,151$2,644$2,211$997
17 years$4,114$3,443$2,867$2,376$1,961$831
18 years$3,845$3,182$2,617$2,141$1,744$694
19 years$3,605$2,949$2,396$1,935$1,554$581
20 years$3,388$2,740$2,199$1,752$1,388$487
21 years$3,193$2,552$2,022$1,590$1,242$408
22 years$3,016$2,383$1,864$1,446$1,113$343
23 years$2,854$2,228$1,721$1,317$999$288
24 years$2,706$2,088$1,592$1,201$898$242
25 years$2,570$1,959$1,474$1,097$808$204
26 years$2,445$1,841$1,367$1,003$728$171
27 years$2,329$1,733$1,270$918$657$144
28 years$2,222$1,633$1,180$841$592$121
29 years$2,122$1,541$1,098$771$535$102
30 years$2,029$1,455$1,023$708$483$86
31 years$1,943$1,375$954$650$437$72
32 years$1,862$1,301$890$597$395$61
33 years$1,785$1,232$831$549$358$51
34 years$1,714$1,168$776$505$324$43
35 years$1,647$1,108$726$465$293$37
36 years$1,583$1,052$679$429$266$31
37 years$1,524$999$636$395$241$26
38 years$1,467$949$595$364$218$22
39 years$1,414$903$558$336$198$18
40 years$1,363$859$523$310$180$16
41 years$1,315$817$490$286$163$13
42 years$1,269$778$460$264$148$11
43 years$1,226$742$431$243$134$9
44 years$1,185$707$405$225$122$8
45 years$1,145$674$380$207$111$7
46 years$1,108$643$357$192$100$6
47 years$1,072$614$335$177$91$5
48 years$1,038$586$315$164$83$4
49 years$1,005$560$296$151$75$3
50 years$973$534$279$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $997,000, adding $5,986 every year, while hoping to spend $42,071 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: 69/20/11 Blend
57$997,000$997,000$997,000$997,000
58$1,104,869$1,052,028$1,036,574$1,178,160
59$1,172,802$1,058,814$1,026,536$1,234,370
60$1,246,254$1,064,522$1,014,752$1,290,198
61$1,325,745$1,069,056$1,001,118$1,350,164
62$1,411,843$1,072,312$985,528$1,414,668
63$1,505,175$1,074,180$967,867$1,484,150
64$1,606,431$1,074,543$948,019$1,559,097
65$1,716,369$1,073,277$925,859$1,640,044
66$1,835,822$1,070,251$901,259$1,727,585
67$1,965,707$1,065,324$874,082$1,822,370
68$2,107,033$1,058,349$844,188$1,925,122
69$2,260,910$1,049,169$811,429$2,036,633
70$2,428,561$1,037,615$775,649$2,157,781
71$2,611,328$1,023,512$736,687$2,289,531
72$2,810,692$1,006,673$694,375$2,432,952
73$3,028,280$986,898$648,534$2,589,219
74$3,265,886$963,977$598,981$2,759,630
75$3,525,482$937,688$545,523$2,945,617
76$3,809,242$907,795$487,958$3,148,760
77$4,119,555$874,048$426,076$3,370,802
78$4,459,057$836,183$359,656$3,613,664
79$4,830,646$793,921$288,470$3,879,466
80$5,237,515$746,966$212,277$4,170,548
81$5,683,180$695,006$130,826$4,489,489
82$6,171,513$637,710$43,858$4,839,134
83$6,706,779$574,729$0$5,222,622
84$7,293,673$505,694$0$5,649,160
85$7,937,369$430,215$0$6,122,686
86$8,643,564$347,879$0$6,642,295
87$9,418,534$258,250$0$7,212,665
88$10,269,190$160,870$0$7,838,956
89$11,203,146$55,252$0$8,526,856
90$12,228,791$0$0$9,282,634
91$13,355,364$0$0$10,126,214
92$14,593,044$0$0$11,066,409
93$15,953,042$0$0$12,099,585
94$17,447,713$0$0$13,235,133
95$19,090,666$0$0$14,483,401
96$20,896,893$0$0$15,855,788
97$22,882,913$0$0$17,364,854
98$25,066,926$0$0$19,024,435
99$27,468,981$0$0$20,849,777
100$30,111,170$0$0$22,857,677