Can I retire at age 58 with 892,000?

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 $892,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$73,661$73,004$72,364$71,739$71,129$69,018
2 years$36,466$35,786$35,128$34,490$33,871$31,762
3 years$24,069$23,387$22,730$22,098$21,489$19,448
4 years$17,872$17,192$16,542$15,920$15,326$13,368
5 years$14,154$13,479$12,837$12,228$11,651$9,781
6 years$11,677$11,006$10,374$9,779$9,219$7,440
7 years$9,908$9,243$8,621$8,040$7,497$5,809
8 years$8,582$7,923$7,311$6,745$6,220$4,621
9 years$7,551$6,898$6,297$5,745$5,238$3,726
10 years$6,727$6,081$5,490$4,952$4,463$3,037
11 years$6,053$5,413$4,833$4,310$3,838$2,496
12 years$5,492$4,859$4,290$3,780$3,326$2,064
13 years$5,018$4,391$3,832$3,337$2,901$1,716
14 years$4,611$3,991$3,443$2,963$2,543$1,432
15 years$4,259$3,646$3,109$2,642$2,239$1,200
16 years$3,952$3,345$2,819$2,366$1,979$1,008
17 years$3,681$3,081$2,565$2,126$1,754$849
18 years$3,440$2,847$2,341$1,916$1,560$716
19 years$3,225$2,638$2,143$1,731$1,390$605
20 years$3,032$2,452$1,967$1,568$1,242$512
21 years$2,857$2,284$1,809$1,423$1,111$434
22 years$2,698$2,132$1,668$1,294$996$368
23 years$2,554$1,994$1,540$1,178$894$312
24 years$2,421$1,868$1,424$1,075$804$265
25 years$2,300$1,753$1,319$981$723$225
26 years$2,188$1,648$1,223$897$651$192
27 years$2,084$1,551$1,136$821$587$163
28 years$1,988$1,461$1,056$752$530$139
29 years$1,899$1,378$983$690$479$118
30 years$1,816$1,302$915$633$432$100
31 years$1,738$1,231$853$582$391$85
32 years$1,666$1,164$796$535$354$73
33 years$1,597$1,103$743$492$320$62
34 years$1,534$1,045$695$452$290$53
35 years$1,473$991$649$416$262$45
36 years$1,417$941$607$383$238$38
37 years$1,363$894$569$353$216$33
38 years$1,313$849$532$326$195$28
39 years$1,265$807$499$300$177$24
40 years$1,220$768$468$277$161$20
41 years$1,176$731$438$255$146$17
42 years$1,136$696$411$236$132$15
43 years$1,097$664$386$218$120$13
44 years$1,060$633$362$201$109$11
45 years$1,025$603$340$186$99$9
46 years$991$575$319$171$90$8
47 years$959$549$300$158$82$7
48 years$928$524$282$146$74$6
49 years$899$501$265$135$67$5
50 years$871$478$249$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $892,000, adding $3,019 every year, while hoping to spend $48,727 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: 83/6/11 Blend
57$892,000$892,000$892,000$892,000
58$986,098$938,822$924,996$1,065,908
59$1,034,835$932,979$904,138$1,112,764
60$1,086,910$925,217$880,949$1,157,419
61$1,142,612$915,390$855,298$1,204,986
62$1,202,258$903,343$827,050$1,255,731
63$1,266,195$888,914$796,063$1,309,945
64$1,334,805$871,930$762,189$1,367,948
65$1,408,507$852,205$725,274$1,430,096
66$1,487,759$829,548$685,155$1,496,777
67$1,573,065$803,750$641,663$1,568,421
68$1,664,980$774,596$594,620$1,645,499
69$1,764,111$741,855$543,843$1,728,534
70$1,871,126$705,282$489,138$1,818,099
71$1,986,760$664,619$430,303$1,914,827
72$2,111,819$619,595$367,128$2,019,414
73$2,247,190$569,921$299,392$2,132,628
74$2,393,848$515,291$226,866$2,255,317
75$2,552,865$455,385$149,310$2,388,413
76$2,725,418$389,860$66,473$2,532,944
77$2,912,806$318,358$0$2,690,045
78$3,116,452$240,498$0$2,863,538
79$3,337,927$155,878$0$3,060,720
80$3,578,955$64,076$0$3,275,333
81$3,841,436$0$0$3,509,085
82$4,127,459$0$0$3,766,192
83$4,439,323$0$0$4,051,158
84$4,779,560$0$0$4,362,065
85$5,150,955$0$0$4,701,463
86$5,556,574$0$0$5,072,154
87$5,999,793$0$0$5,477,227
88$6,484,329$0$0$5,920,081
89$7,014,274$0$0$6,404,457
90$7,594,131$0$0$6,934,476
91$8,228,863$0$0$7,514,675
92$8,923,931$0$0$8,150,051
93$9,685,352$0$0$8,846,104
94$10,519,750$0$0$9,608,894
95$11,434,421$0$0$10,445,094
96$12,437,400$0$0$11,362,054
97$13,537,539$0$0$12,367,867
98$14,744,584$0$0$13,471,451
99$16,069,274$0$0$14,682,625
100$17,523,436$0$0$16,012,207