Can I retire at age 58 with 890,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.6%
1 years$73,495$72,841$72,202$71,579$70,970$69,622
2 years$36,384$35,706$35,050$34,413$33,795$32,443
3 years$24,015$23,334$22,679$22,049$21,441$20,126
4 years$17,832$17,153$16,505$15,885$15,292$14,024
5 years$14,123$13,448$12,808$12,201$11,625$10,408
6 years$11,651$10,982$10,351$9,757$9,198$8,034
7 years$9,886$9,222$8,602$8,022$7,481$6,369
8 years$8,563$7,905$7,295$6,729$6,206$5,147
9 years$7,534$6,883$6,283$5,732$5,226$4,219
10 years$6,712$6,067$5,478$4,941$4,453$3,497
11 years$6,040$5,401$4,823$4,300$3,830$2,923
12 years$5,480$4,848$4,280$3,772$3,319$2,461
13 years$5,006$4,381$3,824$3,330$2,894$2,083
14 years$4,601$3,982$3,436$2,956$2,537$1,771
15 years$4,250$3,638$3,102$2,636$2,234$1,512
16 years$3,943$3,338$2,812$2,360$1,974$1,295
17 years$3,673$3,074$2,559$2,121$1,750$1,112
18 years$3,432$2,840$2,336$1,911$1,556$957
19 years$3,218$2,632$2,139$1,727$1,387$825
20 years$3,025$2,446$1,963$1,564$1,239$713
21 years$2,851$2,278$1,805$1,420$1,109$616
22 years$2,692$2,127$1,664$1,291$994$534
23 years$2,548$1,989$1,536$1,175$892$463
24 years$2,416$1,864$1,421$1,072$802$401
25 years$2,295$1,749$1,316$979$722$348
26 years$2,183$1,644$1,221$895$650$303
27 years$2,079$1,547$1,133$819$586$263
28 years$1,984$1,458$1,054$751$529$229
29 years$1,895$1,375$980$688$477$199
30 years$1,812$1,299$913$632$431$173
31 years$1,734$1,228$851$580$390$151
32 years$1,662$1,162$794$533$353$131
33 years$1,594$1,100$742$490$319$115
34 years$1,530$1,043$693$451$289$100
35 years$1,470$989$648$415$262$87
36 years$1,414$939$606$383$237$76
37 years$1,360$892$567$352$215$66
38 years$1,310$847$531$325$195$58
39 years$1,262$806$498$300$177$50
40 years$1,217$767$467$276$160$44
41 years$1,174$730$437$255$145$38
42 years$1,133$695$410$235$132$33
43 years$1,094$662$385$217$120$29
44 years$1,057$631$361$201$109$25
45 years$1,022$602$339$185$99$22
46 years$989$574$319$171$90$19
47 years$957$548$299$158$81$17
48 years$926$523$281$146$74$15
49 years$897$499$265$135$67$13
50 years$869$477$249$125$61$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $890,000, adding $6,237 every year, while hoping to spend $54,455 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: 75/20/5 Blend
57$890,000$890,000$890,000$890,000
58$987,213$940,043$926,248$1,060,451
59$1,029,970$928,166$899,338$1,097,570
60$1,075,262$913,881$869,701$1,130,636
61$1,123,291$897,014$837,189$1,165,279
62$1,174,277$877,378$801,645$1,201,633
63$1,228,461$854,778$762,908$1,239,849
64$1,286,106$829,003$720,807$1,280,091
65$1,347,499$799,835$675,164$1,322,542
66$1,412,956$767,038$625,794$1,367,404
67$1,482,821$730,368$572,502$1,414,900
68$1,557,474$689,561$515,086$1,465,278
69$1,637,329$644,342$453,334$1,518,812
70$1,722,840$594,418$387,025$1,575,806
71$1,814,507$539,481$315,927$1,636,594
72$1,912,875$479,204$239,799$1,701,548
73$2,018,545$413,243$158,389$1,771,080
74$2,132,177$341,231$71,435$1,845,642
75$2,254,492$262,785$0$1,925,740
76$2,386,286$177,497$0$2,013,068
77$2,528,431$84,938$0$2,111,244
78$2,681,885$0$0$2,217,150
79$2,847,702$0$0$2,334,933
80$3,027,037$0$0$2,482,565
81$3,221,165$0$0$2,642,405
82$3,431,483$0$0$2,815,606
83$3,659,528$0$0$3,003,439
84$3,906,992$0$0$3,207,302
85$4,175,735$0$0$3,428,730
86$4,467,802$0$0$3,669,414
87$4,785,443$0$0$3,931,212
88$5,131,133$0$0$4,216,171
89$5,507,598$0$0$4,526,541
90$5,917,835$0$0$4,864,799
91$6,365,143$0$0$5,233,670
92$6,853,152$0$0$5,636,155
93$7,385,859$0$0$6,075,557
94$7,967,663$0$0$6,555,509
95$8,603,407$0$0$7,080,014
96$9,298,423$0$0$7,653,477
97$10,058,581$0$0$8,280,750
98$10,890,344$0$0$8,967,174
99$11,800,829$0$0$9,718,628
100$12,797,874$0$0$10,541,591