Can I retire at age 58 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$73,495$72,841$72,202$71,579$70,970$70,054
2 years$36,384$35,706$35,050$34,413$33,795$32,874
3 years$24,015$23,334$22,679$22,049$21,441$20,543
4 years$17,832$17,153$16,505$15,885$15,292$14,424
5 years$14,123$13,448$12,808$12,201$11,625$10,789
6 years$11,651$10,982$10,351$9,757$9,198$8,396
7 years$9,886$9,222$8,602$8,022$7,481$6,712
8 years$8,563$7,905$7,295$6,729$6,206$5,471
9 years$7,534$6,883$6,283$5,732$5,226$4,525
10 years$6,712$6,067$5,478$4,941$4,453$3,785
11 years$6,040$5,401$4,823$4,300$3,830$3,194
12 years$5,480$4,848$4,280$3,772$3,319$2,714
13 years$5,006$4,381$3,824$3,330$2,894$2,321
14 years$4,601$3,982$3,436$2,956$2,537$1,993
15 years$4,250$3,638$3,102$2,636$2,234$1,719
16 years$3,943$3,338$2,812$2,360$1,974$1,488
17 years$3,673$3,074$2,559$2,121$1,750$1,291
18 years$3,432$2,840$2,336$1,911$1,556$1,123
19 years$3,218$2,632$2,139$1,727$1,387$979
20 years$3,025$2,446$1,963$1,564$1,239$855
21 years$2,851$2,278$1,805$1,420$1,109$748
22 years$2,692$2,127$1,664$1,291$994$655
23 years$2,548$1,989$1,536$1,175$892$575
24 years$2,416$1,864$1,421$1,072$802$504
25 years$2,295$1,749$1,316$979$722$443
26 years$2,183$1,644$1,221$895$650$390
27 years$2,079$1,547$1,133$819$586$343
28 years$1,984$1,458$1,054$751$529$302
29 years$1,895$1,375$980$688$477$266
30 years$1,812$1,299$913$632$431$234
31 years$1,734$1,228$851$580$390$207
32 years$1,662$1,162$794$533$353$182
33 years$1,594$1,100$742$490$319$161
34 years$1,530$1,043$693$451$289$142
35 years$1,470$989$648$415$262$125
36 years$1,414$939$606$383$237$110
37 years$1,360$892$567$352$215$98
38 years$1,310$847$531$325$195$86
39 years$1,262$806$498$300$177$76
40 years$1,217$767$467$276$160$67
41 years$1,174$730$437$255$145$59
42 years$1,133$695$410$235$132$52
43 years$1,094$662$385$217$120$46
44 years$1,057$631$361$201$109$41
45 years$1,022$602$339$185$99$36
46 years$989$574$319$171$90$32
47 years$957$548$299$158$81$28
48 years$926$523$281$146$74$25
49 years$897$499$265$135$67$22
50 years$869$477$249$125$61$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $890,000, adding $6,362 every year, while hoping to spend $25,210 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: 64/27/9 Blend
57$890,000$890,000$890,000$890,000
58$987,342$940,172$926,377$1,048,270
59$1,061,228$959,418$930,588$1,108,944
60$1,141,805$978,761$934,094$1,171,647
61$1,229,730$998,180$936,847$1,239,486
62$1,325,723$1,017,653$938,792$1,312,958
63$1,430,581$1,037,151$939,876$1,392,611
64$1,545,178$1,056,649$940,039$1,479,049
65$1,670,477$1,076,116$939,221$1,572,938
66$1,807,538$1,095,519$937,358$1,675,010
67$1,957,530$1,114,822$934,383$1,786,072
68$2,121,739$1,133,989$930,225$1,907,015
69$2,301,579$1,152,978$924,811$2,038,819
70$2,498,612$1,171,745$918,063$2,182,564
71$2,714,553$1,190,243$909,901$2,339,440
72$2,951,294$1,208,422$900,240$2,510,759
73$3,210,919$1,226,227$888,990$2,697,966
74$3,495,720$1,243,600$876,059$2,902,655
75$3,808,226$1,260,479$861,350$3,126,582
76$4,151,220$1,276,797$844,760$3,371,680
77$4,527,768$1,292,484$826,183$3,640,083
78$4,941,247$1,307,462$805,506$3,934,141
79$5,395,378$1,321,651$782,614$4,256,444
80$5,894,258$1,334,964$757,384$4,609,847
81$6,442,405$1,347,309$729,688$4,997,496
82$7,044,790$1,358,588$699,393$5,422,859
83$7,706,894$1,368,694$666,359$5,889,758
84$8,434,755$1,377,518$630,439$6,402,407
85$9,235,022$1,384,938$591,481$6,965,447
86$10,115,025$1,390,831$549,326$7,583,997
87$11,082,836$1,395,059$503,806$8,263,698
88$12,147,349$1,397,482$454,749$9,010,765
89$13,318,367$1,397,946$401,970$9,832,052
90$14,606,685$1,396,291$345,281$10,735,110
91$16,024,202$1,392,344$284,484$11,728,264
92$17,584,027$1,385,925$219,370$12,820,688
93$19,300,602$1,376,840$149,723$14,022,494
94$21,189,843$1,364,884$75,318$15,344,829
95$23,269,284$1,349,841$0$16,799,975
96$25,558,248$1,331,480$0$18,401,865
97$28,078,024$1,309,557$0$20,172,773
98$30,852,072$1,283,815$0$22,121,931
99$33,906,240$1,253,979$0$24,267,492
100$37,269,012$1,219,760$0$26,629,462