Can I retire at age 58 with 891,000?

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 $891,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$73,578$72,923$72,283$71,659$71,050$69,930
2 years$36,425$35,746$35,089$34,451$33,833$32,708
3 years$24,042$23,361$22,705$22,073$21,465$20,370
4 years$17,852$17,173$16,523$15,903$15,309$14,252
5 years$14,139$13,463$12,823$12,215$11,638$10,621
6 years$11,664$10,994$10,363$9,768$9,209$8,234
7 years$9,897$9,233$8,611$8,031$7,489$6,557
8 years$8,573$7,914$7,303$6,737$6,213$5,323
9 years$7,543$6,891$6,290$5,738$5,232$4,385
10 years$6,720$6,074$5,484$4,947$4,458$3,652
11 years$6,046$5,407$4,828$4,305$3,834$3,068
12 years$5,486$4,853$4,285$3,776$3,323$2,596
13 years$5,012$4,386$3,828$3,334$2,897$2,209
14 years$4,606$3,987$3,440$2,959$2,540$1,889
15 years$4,255$3,642$3,105$2,639$2,236$1,621
16 years$3,947$3,341$2,816$2,363$1,976$1,396
17 years$3,677$3,077$2,562$2,123$1,752$1,206
18 years$3,436$2,843$2,339$1,913$1,558$1,044
19 years$3,221$2,635$2,141$1,729$1,389$905
20 years$3,028$2,449$1,965$1,566$1,240$787
21 years$2,854$2,281$1,807$1,421$1,110$684
22 years$2,695$2,129$1,666$1,292$995$596
23 years$2,551$1,991$1,538$1,177$893$520
24 years$2,419$1,866$1,422$1,073$803$454
25 years$2,297$1,751$1,317$980$722$397
26 years$2,185$1,646$1,222$896$651$347
27 years$2,082$1,549$1,135$820$587$303
28 years$1,986$1,459$1,055$752$529$266
29 years$1,897$1,377$982$689$478$233
30 years$1,814$1,300$914$633$432$204
31 years$1,736$1,229$852$581$391$179
32 years$1,664$1,163$795$534$353$157
33 years$1,596$1,101$743$491$320$137
34 years$1,532$1,044$694$452$289$121
35 years$1,472$990$649$416$262$106
36 years$1,415$940$607$383$238$93
37 years$1,362$893$568$353$215$81
38 years$1,311$848$532$325$195$72
39 years$1,263$807$498$300$177$63
40 years$1,218$767$467$277$161$55
41 years$1,175$730$438$255$146$48
42 years$1,134$696$411$236$132$43
43 years$1,096$663$385$217$120$37
44 years$1,059$632$362$201$109$33
45 years$1,023$603$340$185$99$29
46 years$990$575$319$171$90$25
47 years$958$549$300$158$81$22
48 years$927$524$282$146$74$20
49 years$898$500$265$135$67$17
50 years$870$478$249$125$61$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $891,000, adding $5,483 every year, while hoping to spend $54,956 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: 59/22/19 Blend
57$891,000$891,000$891,000$891,000
58$987,538$940,315$926,504$1,040,579
59$1,029,794$927,917$899,069$1,064,763
60$1,074,518$913,071$868,874$1,084,629
61$1,121,904$895,597$835,766$1,105,052
62$1,172,164$875,306$799,590$1,126,095
63$1,225,529$852,001$760,181$1,147,831
64$1,282,252$825,468$717,366$1,170,342
65$1,342,610$795,484$670,966$1,193,720
66$1,406,906$761,812$620,792$1,218,073
67$1,475,472$724,202$566,650$1,243,518
68$1,548,670$682,388$508,333$1,270,192
69$1,626,900$636,091$445,628$1,298,246
70$1,710,598$585,013$378,311$1,327,852
71$1,800,242$528,842$306,147$1,359,204
72$1,896,357$467,246$228,894$1,392,518
73$1,999,520$399,876$146,296$1,428,039
74$2,110,362$326,360$58,088$1,466,039
75$2,229,577$246,310$0$1,506,826
76$2,357,927$159,312$0$1,558,050
77$2,496,247$64,930$0$1,625,830
78$2,645,457$0$0$1,698,869
79$2,806,567$0$0$1,786,739
80$2,980,685$0$0$1,898,748
81$3,169,029$0$0$2,019,971
82$3,372,941$0$0$2,151,275
83$3,593,894$0$0$2,293,619
84$3,833,506$0$0$2,448,054
85$4,093,559$0$0$2,615,736
86$4,376,012$0$0$2,797,938
87$4,683,020$0$0$2,996,060
88$5,016,953$0$0$3,211,641
89$5,380,420$0$0$3,446,377
90$5,776,291$0$0$3,702,130
91$6,207,722$0$0$3,980,953
92$6,678,191$0$0$4,285,104
93$7,191,522$0$0$4,617,068
94$7,751,926$0$0$4,979,582
95$8,364,037$0$0$5,375,657
96$9,032,957$0$0$5,808,608
97$9,764,306$0$0$6,282,086
98$10,564,266$0$0$6,800,110
99$11,439,648$0$0$7,367,106
100$12,397,951$0$0$7,987,948