Can I retire at age 58 with 998,000?

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 $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%17.8%
1 years$82,414$81,680$80,964$80,265$79,582$77,065
2 years$40,799$40,039$39,303$38,589$37,896$35,384
3 years$26,929$26,166$25,431$24,724$24,043$21,613
4 years$19,996$19,235$18,508$17,812$17,148$14,819
5 years$15,837$15,080$14,363$13,682$13,035$10,815
6 years$13,065$12,314$11,607$10,941$10,314$8,203
7 years$11,086$10,341$9,646$8,995$8,388$6,387
8 years$9,602$8,865$8,180$7,546$6,959$5,065
9 years$8,449$7,718$7,046$6,428$5,860$4,073
10 years$7,527$6,803$6,143$5,541$4,993$3,309
11 years$6,773$6,056$5,408$4,822$4,294$2,710
12 years$6,145$5,436$4,799$4,230$3,722$2,234
13 years$5,614$4,913$4,288$3,734$3,245$1,851
14 years$5,159$4,465$3,853$3,315$2,845$1,540
15 years$4,766$4,079$3,478$2,956$2,505$1,285
16 years$4,422$3,743$3,154$2,647$2,214$1,076
17 years$4,118$3,447$2,870$2,378$1,963$903
18 years$3,849$3,185$2,620$2,143$1,745$759
19 years$3,608$2,952$2,398$1,937$1,556$639
20 years$3,392$2,743$2,201$1,754$1,389$538
21 years$3,196$2,555$2,024$1,592$1,243$454
22 years$3,019$2,385$1,866$1,447$1,115$384
23 years$2,857$2,231$1,723$1,318$1,000$324
24 years$2,709$2,090$1,593$1,202$899$274
25 years$2,573$1,961$1,476$1,098$809$232
26 years$2,448$1,843$1,369$1,004$729$197
27 years$2,332$1,735$1,271$919$657$167
28 years$2,224$1,635$1,181$842$593$141
29 years$2,124$1,542$1,099$772$535$120
30 years$2,031$1,456$1,024$709$484$101
31 years$1,945$1,377$955$651$437$86
32 years$1,863$1,303$891$598$396$73
33 years$1,787$1,234$832$550$358$62
34 years$1,716$1,169$777$506$324$52
35 years$1,648$1,109$727$466$294$45
36 years$1,585$1,053$680$429$266$38
37 years$1,525$1,000$636$395$241$32
38 years$1,469$950$596$364$219$27
39 years$1,415$903$558$336$198$23
40 years$1,364$860$523$310$180$20
41 years$1,316$818$491$286$163$17
42 years$1,271$779$460$264$148$14
43 years$1,227$742$432$244$134$12
44 years$1,186$708$405$225$122$10
45 years$1,146$675$381$208$111$9
46 years$1,109$644$357$192$101$7
47 years$1,073$614$336$177$91$6
48 years$1,039$587$316$164$83$5
49 years$1,006$560$297$151$75$4
50 years$974$535$279$140$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $998,000, adding $4,878 every year, while hoping to spend $30,641 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: 35/37/28 Blend
57$998,000$998,000$998,000$998,000
58$1,104,828$1,051,934$1,036,465$1,134,033
59$1,184,918$1,070,877$1,038,584$1,175,269
60$1,272,151$1,089,721$1,039,748$1,216,630
61$1,367,223$1,108,429$1,039,892$1,260,669
62$1,470,899$1,126,961$1,038,947$1,307,645
63$1,584,022$1,145,275$1,036,844$1,357,848
64$1,707,522$1,163,323$1,033,508$1,411,595
65$1,842,420$1,181,056$1,028,861$1,469,239
66$1,989,840$1,198,421$1,022,821$1,531,169
67$2,151,021$1,215,361$1,015,303$1,597,817
68$2,327,327$1,231,815$1,006,217$1,669,658
69$2,520,258$1,247,718$995,469$1,747,219
70$2,731,467$1,262,999$982,961$1,831,083
71$2,962,776$1,277,585$968,589$1,921,892
72$3,216,188$1,291,395$952,245$2,020,358
73$3,493,911$1,304,346$933,817$2,127,266
74$3,798,376$1,316,345$913,187$2,243,486
75$4,132,262$1,327,297$890,230$2,369,977
76$4,498,517$1,337,099$864,817$2,507,798
77$4,900,390$1,345,642$836,813$2,658,123
78$5,341,460$1,352,808$806,076$2,822,244
79$5,825,667$1,358,474$772,458$3,001,590
80$6,357,354$1,362,508$735,804$3,197,742
81$6,941,304$1,364,771$695,953$3,412,441
82$7,582,784$1,365,112$652,735$3,647,615
83$8,287,600$1,363,374$605,973$3,905,388
84$9,062,145$1,359,390$555,484$4,188,110
85$9,913,464$1,352,980$501,072$4,498,371
86$10,849,317$1,343,956$442,538$4,839,034
87$11,878,255$1,332,117$379,671$5,213,258
88$13,009,697$1,317,251$312,250$5,624,529
89$14,254,022$1,299,131$240,046$6,076,698
90$15,622,664$1,277,521$162,819$6,574,012
91$17,128,221$1,252,165$80,319$7,121,160
92$18,784,575$1,222,796$0$7,723,317
93$20,607,019$1,189,130$0$8,388,499
94$22,612,405$1,150,867$0$9,146,458
95$24,819,299$1,107,689$0$9,980,211
96$27,248,160$1,059,258$0$10,897,515
97$29,921,529$1,005,218$0$11,906,928
98$32,864,245$945,194$0$13,017,881
99$36,103,675$878,786$0$14,240,776
100$39,669,977$805,573$0$15,587,080