Can I retire at age 58 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$82,249$81,516$80,801$80,104$79,422$79,088
2 years$40,717$39,959$39,224$38,511$37,820$37,482
3 years$26,875$26,114$25,380$24,675$23,995$23,664
4 years$19,956$19,196$18,470$17,777$17,113$16,792
5 years$15,805$15,050$14,334$13,654$13,009$12,699
6 years$13,039$12,290$11,584$10,919$10,294$9,995
7 years$11,063$10,321$9,626$8,977$8,372$8,084
8 years$9,583$8,847$8,164$7,531$6,945$6,669
9 years$8,432$7,703$7,032$6,415$5,849$5,584
10 years$7,511$6,790$6,130$5,530$4,983$4,730
11 years$6,759$6,044$5,397$4,812$4,286$4,043
12 years$6,132$5,425$4,790$4,221$3,714$3,482
13 years$5,603$4,903$4,279$3,727$3,239$3,017
14 years$5,149$4,456$3,845$3,308$2,839$2,628
15 years$4,756$4,071$3,471$2,950$2,500$2,299
16 years$4,413$3,735$3,147$2,642$2,209$2,018
17 years$4,110$3,440$2,864$2,373$1,959$1,777
18 years$3,841$3,179$2,614$2,139$1,742$1,569
19 years$3,601$2,946$2,393$1,933$1,552$1,389
20 years$3,385$2,737$2,197$1,750$1,387$1,232
21 years$3,190$2,550$2,020$1,589$1,241$1,094
22 years$3,013$2,380$1,862$1,444$1,112$974
23 years$2,851$2,226$1,719$1,315$998$868
24 years$2,704$2,086$1,590$1,200$897$774
25 years$2,568$1,957$1,473$1,096$808$691
26 years$2,443$1,840$1,366$1,002$727$618
27 years$2,327$1,731$1,268$917$656$553
28 years$2,220$1,631$1,179$840$592$495
29 years$2,120$1,539$1,097$770$534$443
30 years$2,027$1,453$1,022$707$483$397
31 years$1,941$1,374$953$649$437$356
32 years$1,860$1,300$889$597$395$320
33 years$1,784$1,231$830$549$357$287
34 years$1,712$1,167$776$505$324$258
35 years$1,645$1,107$725$465$293$232
36 years$1,582$1,050$678$428$266$208
37 years$1,522$998$635$394$241$187
38 years$1,466$948$595$364$218$168
39 years$1,412$902$557$335$198$151
40 years$1,362$858$522$309$179$136
41 years$1,314$817$490$285$163$122
42 years$1,268$778$459$263$148$110
43 years$1,225$741$431$243$134$99
44 years$1,183$706$404$224$122$89
45 years$1,144$674$380$207$110$80
46 years$1,107$643$357$191$100$72
47 years$1,071$613$335$177$91$65
48 years$1,036$585$315$163$83$58
49 years$1,004$559$296$151$75$53
50 years$972$534$278$140$68$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $996,000, adding $6,684 every year, while hoping to spend $42,442 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: 39/35/26 Blend
57$996,000$996,000$996,000$996,000
58$1,104,487$1,051,699$1,036,261$1,138,818
59$1,171,986$1,058,074$1,025,817$1,170,780
60$1,244,948$1,063,339$1,013,602$1,200,881
61$1,323,885$1,067,395$999,510$1,232,606
62$1,409,360$1,070,136$983,432$1,266,127
63$1,501,993$1,071,450$965,255$1,301,639
64$1,602,463$1,071,219$944,858$1,339,359
65$1,711,521$1,069,314$922,117$1,379,529
66$1,829,989$1,065,604$896,900$1,422,418
67$1,958,773$1,059,944$869,072$1,468,327
68$2,098,870$1,052,183$838,488$1,517,590
69$2,251,377$1,042,162$804,999$1,570,580
70$2,417,499$1,029,710$768,449$1,627,710
71$2,598,565$1,014,647$728,673$1,689,442
72$2,796,037$996,782$685,502$1,756,286
73$3,011,521$975,913$638,754$1,828,814
74$3,246,789$951,826$588,245$1,907,655
75$3,503,789$924,293$533,779$1,993,513
76$3,784,667$893,075$475,152$2,087,167
77$4,091,784$857,916$412,151$2,189,480
78$4,427,741$818,550$344,553$2,301,413
79$4,795,402$774,689$272,127$2,424,030
80$5,197,919$726,035$194,629$2,558,509
81$5,638,764$672,269$111,807$2,706,159
82$6,121,761$613,053$23,396$2,868,429
83$6,651,121$548,033$0$3,046,923
84$7,231,482$476,833$0$3,263,104
85$7,867,950$399,055$0$3,507,462
86$8,566,152$314,280$0$3,775,763
87$9,332,285$222,065$0$4,070,507
88$10,173,173$121,941$0$4,394,455
89$11,096,335$13,415$0$4,750,656
90$12,110,053$0$0$5,142,477
91$13,223,450$0$0$5,613,705
92$14,446,576$0$0$6,137,192
93$15,790,501$0$0$6,712,527
94$17,267,425$0$0$7,344,951
95$18,890,782$0$0$8,040,236
96$20,675,378$0$0$8,804,742
97$22,637,520$0$0$9,645,476
98$24,795,179$0$0$10,570,159
99$27,168,151$0$0$11,587,296
100$29,778,248$0$0$12,706,259