Can I retire at age 58 with 999,000?

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 $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%11.8%
1 years$82,496$81,762$81,045$80,345$79,662$79,060
2 years$40,840$40,079$39,342$38,627$37,934$37,328
3 years$26,956$26,192$25,457$24,749$24,067$23,474
4 years$20,016$19,254$18,526$17,830$17,165$16,591
5 years$15,852$15,095$14,377$13,695$13,048$12,494
6 years$13,078$12,327$11,619$10,952$10,325$9,792
7 years$11,097$10,352$9,655$9,004$8,397$7,885
8 years$9,612$8,873$8,188$7,554$6,966$6,475
9 years$8,457$7,726$7,053$6,434$5,866$5,396
10 years$7,534$6,810$6,149$5,546$4,998$4,549
11 years$6,779$6,063$5,413$4,827$4,299$3,870
12 years$6,151$5,441$4,804$4,234$3,725$3,316
13 years$5,620$4,917$4,292$3,738$3,248$2,859
14 years$5,164$4,470$3,857$3,318$2,848$2,477
15 years$4,770$4,083$3,482$2,959$2,507$2,155
16 years$4,426$3,746$3,157$2,650$2,216$1,882
17 years$4,122$3,450$2,873$2,381$1,965$1,648
18 years$3,853$3,188$2,622$2,145$1,747$1,447
19 years$3,612$2,955$2,401$1,939$1,557$1,274
20 years$3,395$2,746$2,203$1,756$1,391$1,123
21 years$3,200$2,558$2,026$1,593$1,245$992
22 years$3,022$2,387$1,868$1,449$1,116$877
23 years$2,860$2,233$1,725$1,319$1,001$777
24 years$2,712$2,092$1,595$1,203$900$689
25 years$2,576$1,963$1,477$1,099$810$611
26 years$2,450$1,845$1,370$1,005$730$543
27 years$2,334$1,736$1,272$920$658$483
28 years$2,227$1,636$1,183$843$594$430
29 years$2,127$1,544$1,101$773$536$382
30 years$2,034$1,458$1,025$709$484$341
31 years$1,947$1,378$956$651$438$303
32 years$1,865$1,304$892$599$396$270
33 years$1,789$1,235$833$550$358$241
34 years$1,717$1,170$778$507$325$215
35 years$1,650$1,110$727$466$294$192
36 years$1,587$1,054$680$429$266$171
37 years$1,527$1,001$637$396$241$153
38 years$1,470$951$596$365$219$137
39 years$1,417$904$559$336$198$122
40 years$1,366$860$524$310$180$109
41 years$1,318$819$491$286$163$97
42 years$1,272$780$461$264$148$87
43 years$1,228$743$432$244$134$78
44 years$1,187$708$406$225$122$69
45 years$1,147$676$381$208$111$62
46 years$1,110$644$358$192$101$55
47 years$1,074$615$336$177$91$50
48 years$1,040$587$316$164$83$44
49 years$1,007$561$297$151$75$40
50 years$975$536$279$140$68$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $999,000, adding $4,237 every year, while hoping to spend $56,492 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: 50/20/30 Blend
57$999,000$999,000$999,000$999,000
58$1,105,268$1,052,321$1,036,837$1,150,942
59$1,157,899$1,043,778$1,011,464$1,174,850
60$1,214,004$1,032,923$983,348$1,194,903
61$1,273,879$1,019,583$952,336$1,215,619
62$1,337,847$1,003,574$918,272$1,237,087
63$1,406,261$984,703$880,988$1,259,412
64$1,479,510$962,764$840,311$1,282,710
65$1,558,020$937,540$796,061$1,307,113
66$1,642,257$908,798$748,049$1,332,773
67$1,732,734$876,296$696,075$1,359,859
68$1,830,013$839,774$639,933$1,388,563
69$1,934,711$798,960$579,408$1,419,100
70$2,047,507$753,564$514,273$1,451,715
71$2,169,145$703,281$444,294$1,486,679
72$2,300,442$647,787$369,222$1,524,300
73$2,442,299$586,740$288,803$1,564,922
74$2,595,702$519,779$202,766$1,608,930
75$2,761,737$446,521$110,832$1,656,756
76$2,941,598$366,565$12,709$1,708,881
77$3,136,597$279,482$0$1,765,846
78$3,348,177$184,824$0$1,857,703
79$3,577,925$82,114$0$1,961,930
80$3,827,586$0$0$2,075,308
81$4,099,082$0$0$2,205,200
82$4,394,524$0$0$2,366,306
83$4,716,237$0$0$2,541,836
84$5,066,780$0$0$2,733,195
85$5,448,966$0$0$2,941,934
86$5,865,895$0$0$3,169,758
87$6,320,977$0$0$3,418,543
88$6,817,964$0$0$3,690,358
89$7,360,991$0$0$3,987,476
90$7,954,605$0$0$4,312,401
91$8,603,816$0$0$4,667,893
92$9,314,138$0$0$5,056,987
93$10,091,644$0$0$5,483,027
94$10,943,021$0$0$5,949,696
95$11,875,632$0$0$6,461,047
96$12,897,587$0$0$7,021,548
97$14,017,817$0$0$7,636,117
98$15,246,157$0$0$8,310,170
99$16,593,442$0$0$9,049,674
100$18,071,603$0$0$9,861,201