Can I retire at age 58 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$82,001$81,271$80,558$79,862$79,183$77,206
2 years$40,595$39,839$39,106$38,395$37,706$35,727
3 years$26,794$26,035$25,304$24,600$23,922$22,003
4 years$19,895$19,138$18,415$17,723$17,062$15,216
5 years$15,757$15,005$14,291$13,613$12,970$11,204
6 years$12,999$12,253$11,549$10,886$10,263$8,578
7 years$11,030$10,290$9,597$8,950$8,346$6,743
8 years$9,554$8,820$8,139$7,508$6,924$5,402
9 years$8,406$7,680$7,010$6,395$5,831$4,388
10 years$7,489$6,769$6,112$5,513$4,968$3,603
11 years$6,739$6,026$5,381$4,798$4,273$2,984
12 years$6,114$5,409$4,775$4,208$3,703$2,487
13 years$5,586$4,888$4,266$3,715$3,229$2,084
14 years$5,133$4,443$3,833$3,298$2,831$1,755
15 years$4,742$4,059$3,461$2,941$2,492$1,482
16 years$4,399$3,724$3,138$2,634$2,203$1,256
17 years$4,098$3,429$2,855$2,366$1,953$1,067
18 years$3,830$3,169$2,607$2,132$1,737$908
19 years$3,590$2,937$2,386$1,927$1,548$774
20 years$3,375$2,729$2,190$1,745$1,383$661
21 years$3,180$2,542$2,014$1,584$1,237$565
22 years$3,004$2,373$1,857$1,440$1,109$484
23 years$2,843$2,219$1,714$1,312$995$415
24 years$2,695$2,079$1,585$1,196$895$355
25 years$2,560$1,951$1,468$1,092$805$305
26 years$2,435$1,834$1,362$999$725$262
27 years$2,320$1,726$1,265$914$654$225
28 years$2,213$1,626$1,176$838$590$193
29 years$2,114$1,534$1,094$768$533$166
30 years$2,021$1,449$1,019$705$481$143
31 years$1,935$1,370$950$647$435$123
32 years$1,854$1,296$886$595$394$106
33 years$1,778$1,227$828$547$356$91
34 years$1,707$1,163$773$503$323$78
35 years$1,640$1,103$723$463$292$67
36 years$1,577$1,047$676$427$265$58
37 years$1,518$995$633$393$240$50
38 years$1,461$945$593$362$218$43
39 years$1,408$899$555$334$197$37
40 years$1,358$855$521$308$179$32
41 years$1,310$814$488$284$162$27
42 years$1,264$775$458$262$147$24
43 years$1,221$739$430$242$134$20
44 years$1,180$704$403$224$121$17
45 years$1,141$671$379$207$110$15
46 years$1,103$641$356$191$100$13
47 years$1,067$611$334$176$91$11
48 years$1,033$584$314$163$82$10
49 years$1,001$557$295$151$75$8
50 years$970$532$277$139$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $993,000, adding $4,779 every year, while hoping to spend $52,381 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: 60/14/26 Blend
57$993,000$993,000$993,000$993,000
58$1,099,216$1,046,587$1,031,195$1,157,217
59$1,155,603$1,042,136$1,010,007$1,192,810
60$1,215,985$1,035,712$986,354$1,225,571
61$1,280,716$1,027,163$960,097$1,260,199
62$1,350,182$1,016,326$931,093$1,296,888
63$1,424,807$1,003,032$899,190$1,335,853
64$1,505,055$987,099$864,232$1,377,332
65$1,591,439$968,335$826,052$1,421,591
66$1,684,520$946,537$784,478$1,468,926
67$1,784,913$921,490$739,331$1,519,664
68$1,893,297$892,966$690,421$1,574,168
69$2,010,414$860,723$637,551$1,632,843
70$2,137,084$824,506$580,517$1,696,136
71$2,274,205$784,045$519,102$1,764,545
72$2,422,765$739,054$453,083$1,838,621
73$2,583,851$689,231$382,226$1,918,976
74$2,758,657$634,257$306,284$2,006,286
75$2,948,499$573,794$225,002$2,101,303
76$3,154,820$507,484$138,114$2,204,858
77$3,379,212$434,951$45,341$2,317,873
78$3,623,423$355,796$0$2,441,368
79$3,889,380$269,597$0$2,591,360
80$4,179,199$175,910$0$2,768,603
81$4,495,213$74,265$0$2,961,978
82$4,839,987$0$0$3,173,106
83$5,216,346$0$0$3,409,300
84$5,627,397$0$0$3,679,834
85$6,076,563$0$0$3,975,532
86$6,567,612$0$0$4,298,881
87$7,104,693$0$0$4,652,625
88$7,692,372$0$0$5,039,781
89$8,335,678$0$0$5,463,673
90$9,040,151$0$0$5,927,962
91$9,811,888$0$0$6,436,679
92$10,657,605$0$0$6,994,263
93$11,584,701$0$0$7,605,603
94$12,601,321$0$0$8,276,085
95$13,716,438$0$0$9,011,639
96$14,939,935$0$0$9,818,799
97$16,282,698$0$0$10,704,760
98$17,756,718$0$0$11,677,449
99$19,375,204$0$0$12,745,598
100$21,152,705$0$0$13,918,825