Can I retire at age 58 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$81,753$81,025$80,315$79,621$78,944$77,098
2 years$40,472$39,718$38,988$38,279$37,592$35,743
3 years$26,713$25,956$25,228$24,526$23,850$22,055
4 years$19,835$19,081$18,359$17,670$17,010$15,284
5 years$15,710$14,959$14,248$13,572$12,931$11,278
6 years$12,960$12,215$11,514$10,854$10,232$8,653
7 years$10,997$10,259$9,568$8,923$8,321$6,818
8 years$9,525$8,793$8,115$7,486$6,903$5,474
9 years$8,381$7,656$6,989$6,376$5,813$4,458
10 years$7,466$6,749$6,093$5,496$4,953$3,669
11 years$6,718$6,008$5,364$4,783$4,260$3,046
12 years$6,095$5,392$4,761$4,196$3,692$2,546
13 years$5,569$4,873$4,253$3,704$3,219$2,139
14 years$5,118$4,430$3,822$3,288$2,822$1,806
15 years$4,727$4,046$3,451$2,932$2,485$1,530
16 years$4,386$3,713$3,128$2,626$2,196$1,300
17 years$4,085$3,419$2,847$2,359$1,947$1,107
18 years$3,818$3,159$2,599$2,126$1,731$945
19 years$3,579$2,928$2,379$1,921$1,543$809
20 years$3,365$2,721$2,183$1,740$1,378$693
21 years$3,171$2,534$2,008$1,579$1,233$594
22 years$2,995$2,366$1,851$1,436$1,106$510
23 years$2,834$2,213$1,709$1,308$992$438
24 years$2,687$2,073$1,581$1,193$892$377
25 years$2,552$1,946$1,464$1,089$803$324
26 years$2,428$1,829$1,358$996$723$279
27 years$2,313$1,721$1,261$912$652$241
28 years$2,206$1,622$1,172$835$588$207
29 years$2,107$1,530$1,091$766$531$179
30 years$2,015$1,445$1,016$703$480$154
31 years$1,929$1,366$947$646$434$133
32 years$1,848$1,292$884$593$392$115
33 years$1,773$1,224$825$546$355$99
34 years$1,702$1,160$771$502$322$86
35 years$1,635$1,100$721$462$291$74
36 years$1,572$1,044$674$426$264$64
37 years$1,513$992$631$392$239$55
38 years$1,457$942$591$361$217$48
39 years$1,404$896$554$333$197$41
40 years$1,353$853$519$307$178$36
41 years$1,306$812$487$284$162$31
42 years$1,260$773$456$262$147$27
43 years$1,217$737$428$242$133$23
44 years$1,176$702$402$223$121$20
45 years$1,137$669$378$206$110$17
46 years$1,100$639$355$190$100$15
47 years$1,064$609$333$176$91$13
48 years$1,030$582$313$162$82$11
49 years$998$556$294$150$75$10
50 years$967$531$277$139$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $990,000, adding $4,041 every year, while hoping to spend $30,991 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: 82/9/9 Blend
57$990,000$990,000$990,000$990,000
58$1,095,148$1,042,678$1,027,333$1,183,237
59$1,173,879$1,060,795$1,028,775$1,259,608
60$1,259,602$1,078,761$1,029,226$1,338,903
61$1,352,997$1,096,536$1,028,621$1,425,018
62$1,454,813$1,114,077$1,026,890$1,518,619
63$1,565,875$1,131,338$1,023,961$1,620,440
64$1,687,089$1,148,268$1,019,759$1,731,288
65$1,819,454$1,164,815$1,014,203$1,852,054
66$1,964,069$1,180,922$1,007,209$1,983,718
67$2,122,144$1,196,527$998,691$2,127,360
68$2,295,012$1,211,566$988,556$2,284,168
69$2,484,139$1,225,968$976,708$2,455,454
70$2,691,140$1,239,660$963,048$2,642,660
71$2,917,795$1,252,562$947,468$2,847,376
72$3,166,062$1,264,589$929,860$3,071,355
73$3,438,097$1,275,651$910,107$3,316,525
74$3,736,277$1,285,651$888,089$3,585,014
75$4,063,216$1,294,488$863,680$3,879,165
76$4,421,798$1,302,051$836,747$4,201,558
77$4,815,195$1,308,226$807,151$4,555,038
78$5,246,904$1,312,887$774,750$4,942,738
79$5,720,774$1,315,905$739,390$5,368,113
80$6,241,048$1,317,139$700,914$5,834,966
81$6,812,397$1,316,441$659,157$6,347,492
82$7,439,969$1,313,654$613,947$6,910,310
83$8,129,434$1,308,611$565,102$7,528,512
84$8,887,037$1,301,135$512,434$8,207,707
85$9,719,661$1,291,036$455,746$8,954,078
86$10,634,886$1,278,117$394,833$9,774,438
87$11,641,065$1,262,164$329,480$10,676,295
88$12,747,398$1,242,955$259,462$11,667,921
89$13,964,024$1,220,251$184,546$12,758,434
90$15,302,112$1,193,801$104,486$13,957,880
91$16,773,968$1,163,338$19,027$15,277,330
92$18,393,152$1,128,581$0$16,728,987
93$20,174,602$1,089,230$0$18,333,227
94$22,134,778$1,044,969$0$20,100,336
95$24,291,817$995,464$0$22,044,843
96$26,665,701$940,361$0$24,184,771
97$29,278,450$879,285$0$26,539,983
98$32,154,323$811,842$0$29,132,363
99$35,320,054$737,612$0$31,986,029
100$38,805,098$656,153$0$35,127,557