Can I retire at age 58 with 892,000?

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 $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%14.5%
1 years$73,661$73,004$72,364$71,739$71,129$69,807
2 years$36,466$35,786$35,128$34,490$33,871$32,544
3 years$24,069$23,387$22,730$22,098$21,489$20,199
4 years$17,872$17,192$16,542$15,920$15,326$14,082
5 years$14,154$13,479$12,837$12,228$11,651$10,457
6 years$11,677$11,006$10,374$9,779$9,219$8,076
7 years$9,908$9,243$8,621$8,040$7,497$6,406
8 years$8,582$7,923$7,311$6,745$6,220$5,180
9 years$7,551$6,898$6,297$5,745$5,238$4,248
10 years$6,727$6,081$5,490$4,952$4,463$3,523
11 years$6,053$5,413$4,833$4,310$3,838$2,947
12 years$5,492$4,859$4,290$3,780$3,326$2,482
13 years$5,018$4,391$3,832$3,337$2,901$2,103
14 years$4,611$3,991$3,443$2,963$2,543$1,789
15 years$4,259$3,646$3,109$2,642$2,239$1,528
16 years$3,952$3,345$2,819$2,366$1,979$1,310
17 years$3,681$3,081$2,565$2,126$1,754$1,126
18 years$3,440$2,847$2,341$1,916$1,560$969
19 years$3,225$2,638$2,143$1,731$1,390$836
20 years$3,032$2,452$1,967$1,568$1,242$723
21 years$2,857$2,284$1,809$1,423$1,111$626
22 years$2,698$2,132$1,668$1,294$996$542
23 years$2,554$1,994$1,540$1,178$894$470
24 years$2,421$1,868$1,424$1,075$804$408
25 years$2,300$1,753$1,319$981$723$355
26 years$2,188$1,648$1,223$897$651$309
27 years$2,084$1,551$1,136$821$587$268
28 years$1,988$1,461$1,056$752$530$234
29 years$1,899$1,378$983$690$479$203
30 years$1,816$1,302$915$633$432$177
31 years$1,738$1,231$853$582$391$154
32 years$1,666$1,164$796$535$354$135
33 years$1,597$1,103$743$492$320$117
34 years$1,534$1,045$695$452$290$102
35 years$1,473$991$649$416$262$89
36 years$1,417$941$607$383$238$78
37 years$1,363$894$569$353$216$68
38 years$1,313$849$532$326$195$59
39 years$1,265$807$499$300$177$52
40 years$1,220$768$468$277$161$45
41 years$1,176$731$438$255$146$39
42 years$1,136$696$411$236$132$34
43 years$1,097$664$386$218$120$30
44 years$1,060$633$362$201$109$26
45 years$1,025$603$340$186$99$23
46 years$991$575$319$171$90$20
47 years$959$549$300$158$82$17
48 years$928$524$282$146$74$15
49 years$899$501$265$135$67$13
50 years$871$478$249$125$61$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $892,000, adding $5,097 every year, while hoping to spend $52,909 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: 81/12/7 Blend
57$892,000$892,000$892,000$892,000
58$988,242$940,966$927,140$1,067,169
59$1,032,747$930,778$901,904$1,109,380
60$1,080,020$918,318$874,050$1,148,153
61$1,130,284$903,419$843,433$1,189,096
62$1,183,789$885,902$809,904$1,232,397
63$1,240,806$865,581$773,306$1,278,262
64$1,301,630$842,257$733,474$1,326,920
65$1,366,588$815,719$690,237$1,378,622
66$1,436,036$785,745$643,416$1,433,646
67$1,510,364$752,099$592,822$1,492,297
68$1,590,001$714,532$538,262$1,554,913
69$1,675,417$672,779$479,529$1,621,865
70$1,767,126$626,563$416,411$1,693,563
71$1,865,697$575,588$348,684$1,770,458
72$1,971,748$519,542$276,115$1,853,051
73$2,085,963$458,096$198,461$1,941,890
74$2,209,090$390,901$115,469$2,037,582
75$2,341,952$317,591$26,872$2,140,796
76$2,485,454$237,776$0$2,252,271
77$2,640,589$151,045$0$2,377,876
78$2,808,448$56,966$0$2,515,925
79$2,990,233$0$0$2,665,424
80$3,187,262$0$0$2,833,419
81$3,400,987$0$0$3,023,829
82$3,633,003$0$0$3,230,555
83$3,885,066$0$0$3,455,163
84$4,159,107$0$0$3,699,377
85$4,457,250$0$0$3,965,091
86$4,781,831$0$0$4,254,393
87$5,135,423$0$0$4,569,576
88$5,520,856$0$0$4,913,167
89$5,941,243$0$0$5,287,945
90$6,400,014$0$0$5,696,970
91$6,900,941$0$0$6,143,610
92$7,448,179$0$0$6,631,572
93$8,046,301$0$0$7,164,937
94$8,700,340$0$0$7,748,199
95$9,415,842$0$0$8,386,306
96$10,198,908$0$0$9,084,706
97$11,056,261$0$0$9,849,396
98$11,995,301$0$0$10,686,983
99$13,024,180$0$0$11,604,743
100$14,151,872$0$0$12,610,685