Can I retire at age 58 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$82,414$81,680$80,964$80,265$79,582$78,620
2 years$40,799$40,039$39,303$38,589$37,896$36,928
3 years$26,929$26,166$25,431$24,724$24,043$23,099
4 years$19,996$19,235$18,508$17,812$17,148$16,235
5 years$15,837$15,080$14,363$13,682$13,035$12,156
6 years$13,065$12,314$11,607$10,941$10,314$9,470
7 years$11,086$10,341$9,646$8,995$8,388$7,580
8 years$9,602$8,865$8,180$7,546$6,959$6,185
9 years$8,449$7,718$7,046$6,428$5,860$5,122
10 years$7,527$6,803$6,143$5,541$4,993$4,289
11 years$6,773$6,056$5,408$4,822$4,294$3,624
12 years$6,145$5,436$4,799$4,230$3,722$3,084
13 years$5,614$4,913$4,288$3,734$3,245$2,640
14 years$5,159$4,465$3,853$3,315$2,845$2,271
15 years$4,766$4,079$3,478$2,956$2,505$1,961
16 years$4,422$3,743$3,154$2,647$2,214$1,699
17 years$4,118$3,447$2,870$2,378$1,963$1,477
18 years$3,849$3,185$2,620$2,143$1,745$1,287
19 years$3,608$2,952$2,398$1,937$1,556$1,123
20 years$3,392$2,743$2,201$1,754$1,389$983
21 years$3,196$2,555$2,024$1,592$1,243$861
22 years$3,019$2,385$1,866$1,447$1,115$755
23 years$2,857$2,231$1,723$1,318$1,000$663
24 years$2,709$2,090$1,593$1,202$899$583
25 years$2,573$1,961$1,476$1,098$809$513
26 years$2,448$1,843$1,369$1,004$729$452
27 years$2,332$1,735$1,271$919$657$398
28 years$2,224$1,635$1,181$842$593$351
29 years$2,124$1,542$1,099$772$535$310
30 years$2,031$1,456$1,024$709$484$273
31 years$1,945$1,377$955$651$437$241
32 years$1,863$1,303$891$598$396$213
33 years$1,787$1,234$832$550$358$188
34 years$1,716$1,169$777$506$324$167
35 years$1,648$1,109$727$466$294$147
36 years$1,585$1,053$680$429$266$130
37 years$1,525$1,000$636$395$241$115
38 years$1,469$950$596$364$219$102
39 years$1,415$903$558$336$198$90
40 years$1,364$860$523$310$180$80
41 years$1,316$818$491$286$163$71
42 years$1,271$779$460$264$148$62
43 years$1,227$742$432$244$134$55
44 years$1,186$708$405$225$122$49
45 years$1,146$675$381$208$111$43
46 years$1,109$644$357$192$101$38
47 years$1,073$614$336$177$91$34
48 years$1,039$587$316$164$83$30
49 years$1,006$560$297$151$75$27
50 years$974$535$279$140$68$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $998,000, adding $4,591 every year, while hoping to spend $22,309 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: 77/15/8 Blend
57$998,000$998,000$998,000$998,000
58$1,104,532$1,051,638$1,036,169$1,187,965
59$1,193,457$1,079,431$1,047,144$1,271,225
60$1,290,706$1,107,839$1,057,739$1,359,156
61$1,397,102$1,136,868$1,067,917$1,454,915
62$1,513,555$1,166,523$1,077,641$1,559,271
63$1,641,066$1,196,811$1,086,871$1,673,071
64$1,780,737$1,227,736$1,095,563$1,797,247
65$1,933,781$1,259,304$1,103,673$1,932,826
66$2,101,534$1,291,518$1,111,154$2,080,939
67$2,285,470$1,324,382$1,117,957$2,242,831
68$2,487,209$1,357,897$1,124,029$2,419,875
69$2,708,536$1,392,067$1,129,316$2,613,582
70$2,951,420$1,426,891$1,133,761$2,825,615
71$3,218,026$1,462,369$1,137,303$3,057,810
72$3,510,741$1,498,502$1,139,879$3,312,185
73$3,832,193$1,535,286$1,141,422$3,590,965
74$4,185,280$1,572,718$1,141,863$3,896,602
75$4,573,191$1,610,793$1,141,128$4,231,795
76$4,999,441$1,649,506$1,139,140$4,599,521
77$5,467,901$1,688,850$1,135,819$5,003,057
78$5,982,838$1,728,814$1,131,080$5,446,014
79$6,548,951$1,769,389$1,124,834$5,932,370
80$7,171,416$1,810,562$1,116,988$6,466,510
81$7,855,939$1,852,318$1,107,446$7,053,264
82$8,608,804$1,894,641$1,096,105$7,697,953
83$9,436,936$1,937,511$1,082,857$8,406,441
84$10,347,962$1,980,909$1,067,593$9,185,189
85$11,350,290$2,024,809$1,050,193$10,041,318
86$12,453,181$2,069,186$1,030,535$10,982,671
87$13,666,840$2,114,010$1,008,492$12,017,892
88$15,002,509$2,159,248$983,929$13,156,506
89$16,472,579$2,204,866$956,704$14,409,009
90$18,090,700$2,250,822$926,672$15,786,965
91$19,871,914$2,297,075$893,678$17,303,120
92$21,832,795$2,343,577$857,562$18,971,515
93$23,991,605$2,390,277$818,155$20,807,626
94$26,368,467$2,437,119$775,281$22,828,504
95$28,985,555$2,484,042$728,758$25,052,941
96$31,867,302$2,530,981$678,392$27,501,643
97$35,040,632$2,577,865$623,983$30,197,428
98$38,535,213$2,624,616$565,322$33,165,440
99$42,383,734$2,671,151$502,190$36,433,389
100$46,622,219$2,717,382$434,358$40,031,808