Can I retire at age 58 with 999,000?

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 $999,000?

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$82,496$81,762$81,045$80,345$79,662$76,958
2 years$40,840$40,079$39,342$38,627$37,934$35,237
3 years$26,956$26,192$25,457$24,749$24,067$21,461
4 years$20,016$19,254$18,526$17,830$17,165$14,671
5 years$15,852$15,095$14,377$13,695$13,048$10,672
6 years$13,078$12,327$11,619$10,952$10,325$8,069
7 years$11,097$10,352$9,655$9,004$8,397$6,261
8 years$9,612$8,873$8,188$7,554$6,966$4,948
9 years$8,457$7,726$7,053$6,434$5,866$3,964
10 years$7,534$6,810$6,149$5,546$4,998$3,208
11 years$6,779$6,063$5,413$4,827$4,299$2,617
12 years$6,151$5,441$4,804$4,234$3,725$2,149
13 years$5,620$4,917$4,292$3,738$3,248$1,773
14 years$5,164$4,470$3,857$3,318$2,848$1,469
15 years$4,770$4,083$3,482$2,959$2,507$1,221
16 years$4,426$3,746$3,157$2,650$2,216$1,018
17 years$4,122$3,450$2,873$2,381$1,965$850
18 years$3,853$3,188$2,622$2,145$1,747$711
19 years$3,612$2,955$2,401$1,939$1,557$596
20 years$3,395$2,746$2,203$1,756$1,391$500
21 years$3,200$2,558$2,026$1,593$1,245$420
22 years$3,022$2,387$1,868$1,449$1,116$353
23 years$2,860$2,233$1,725$1,319$1,001$297
24 years$2,712$2,092$1,595$1,203$900$250
25 years$2,576$1,963$1,477$1,099$810$211
26 years$2,450$1,845$1,370$1,005$730$178
27 years$2,334$1,736$1,272$920$658$150
28 years$2,227$1,636$1,183$843$594$126
29 years$2,127$1,544$1,101$773$536$106
30 years$2,034$1,458$1,025$709$484$90
31 years$1,947$1,378$956$651$438$76
32 years$1,865$1,304$892$599$396$64
33 years$1,789$1,235$833$550$358$54
34 years$1,717$1,170$778$507$325$46
35 years$1,650$1,110$727$466$294$38
36 years$1,587$1,054$680$429$266$32
37 years$1,527$1,001$637$396$241$27
38 years$1,470$951$596$365$219$23
39 years$1,417$904$559$336$198$20
40 years$1,366$860$524$310$180$17
41 years$1,318$819$491$286$163$14
42 years$1,272$780$461$264$148$12
43 years$1,228$743$432$244$134$10
44 years$1,187$708$406$225$122$8
45 years$1,147$676$381$208$111$7
46 years$1,110$644$358$192$101$6
47 years$1,074$615$336$177$91$5
48 years$1,040$587$316$164$83$4
49 years$1,007$561$297$151$75$4
50 years$975$536$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 $999,000, adding $5,136 every year, while hoping to spend $23,660 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: 51/28/21 Blend
57$999,000$999,000$999,000$999,000
58$1,106,196$1,053,249$1,037,764$1,155,910
59$1,193,854$1,079,684$1,047,355$1,217,239
60$1,289,660$1,106,621$1,056,475$1,281,033
61$1,394,420$1,134,061$1,065,082$1,349,898
62$1,509,022$1,162,001$1,073,133$1,424,322
63$1,634,443$1,190,440$1,080,584$1,504,845
64$1,771,760$1,219,375$1,087,387$1,592,060
65$1,922,157$1,248,802$1,093,492$1,686,621
66$2,086,939$1,278,715$1,098,846$1,789,250
67$2,267,543$1,309,109$1,103,394$1,900,739
68$2,465,553$1,339,976$1,107,078$2,021,964
69$2,682,712$1,371,307$1,109,837$2,153,890
70$2,920,939$1,403,092$1,111,608$2,297,577
71$3,182,351$1,435,319$1,112,322$2,454,197
72$3,469,275$1,467,974$1,111,910$2,625,041
73$3,784,280$1,501,043$1,110,297$2,811,529
74$4,130,190$1,534,508$1,107,406$3,015,229
75$4,510,121$1,568,351$1,103,156$3,237,867
76$4,927,502$1,602,549$1,097,460$3,481,347
77$5,386,113$1,637,079$1,090,231$3,747,766
78$5,890,116$1,671,916$1,081,373$4,039,437
79$6,444,098$1,707,029$1,070,789$4,358,906
80$7,053,112$1,742,390$1,058,376$4,708,983
81$7,722,724$1,777,961$1,044,026$5,092,763
82$8,459,067$1,813,707$1,027,627$5,513,657
83$9,268,900$1,849,586$1,009,060$5,975,425
84$10,159,666$1,885,554$988,202$6,482,213
85$11,139,568$1,921,563$964,923$7,038,587
86$12,217,644$1,957,559$939,088$7,649,582
87$13,403,852$1,993,488$910,555$8,320,749
88$14,709,163$2,029,287$879,178$9,058,202
89$16,145,667$2,064,892$844,799$9,868,684
90$17,726,684$2,100,230$807,259$10,759,625
91$19,466,890$2,135,226$766,386$11,739,215
92$21,382,458$2,169,797$722,005$12,816,481
93$23,491,207$2,203,856$673,931$14,001,370
94$25,812,773$2,237,307$621,970$15,304,850
95$28,368,790$2,270,049$565,920$16,739,006
96$31,183,099$2,301,974$505,571$18,317,159
97$34,281,969$2,332,965$440,702$20,053,992
98$37,694,347$2,362,897$371,083$21,965,686
99$41,452,130$2,391,639$296,473$24,070,078
100$45,590,465$2,419,046$216,623$26,386,824