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%12.2%
1 years$73,661$73,004$72,364$71,739$71,129$70,475
2 years$36,466$35,786$35,128$34,490$33,871$33,211
3 years$24,069$23,387$22,730$22,098$21,489$20,845
4 years$17,872$17,192$16,542$15,920$15,326$14,703
5 years$14,154$13,479$12,837$12,228$11,651$11,049
6 years$11,677$11,006$10,374$9,779$9,219$8,641
7 years$9,908$9,243$8,621$8,040$7,497$6,942
8 years$8,582$7,923$7,311$6,745$6,220$5,688
9 years$7,551$6,898$6,297$5,745$5,238$4,729
10 years$6,727$6,081$5,490$4,952$4,463$3,977
11 years$6,053$5,413$4,833$4,310$3,838$3,375
12 years$5,492$4,859$4,290$3,780$3,326$2,885
13 years$5,018$4,391$3,832$3,337$2,901$2,481
14 years$4,611$3,991$3,443$2,963$2,543$2,144
15 years$4,259$3,646$3,109$2,642$2,239$1,860
16 years$3,952$3,345$2,819$2,366$1,979$1,620
17 years$3,681$3,081$2,565$2,126$1,754$1,415
18 years$3,440$2,847$2,341$1,916$1,560$1,239
19 years$3,225$2,638$2,143$1,731$1,390$1,087
20 years$3,032$2,452$1,967$1,568$1,242$956
21 years$2,857$2,284$1,809$1,423$1,111$842
22 years$2,698$2,132$1,668$1,294$996$742
23 years$2,554$1,994$1,540$1,178$894$655
24 years$2,421$1,868$1,424$1,075$804$579
25 years$2,300$1,753$1,319$981$723$513
26 years$2,188$1,648$1,223$897$651$454
27 years$2,084$1,551$1,136$821$587$402
28 years$1,988$1,461$1,056$752$530$357
29 years$1,899$1,378$983$690$479$316
30 years$1,816$1,302$915$633$432$281
31 years$1,738$1,231$853$582$391$249
32 years$1,666$1,164$796$535$354$222
33 years$1,597$1,103$743$492$320$197
34 years$1,534$1,045$695$452$290$175
35 years$1,473$991$649$416$262$156
36 years$1,417$941$607$383$238$139
37 years$1,363$894$569$353$216$123
38 years$1,313$849$532$326$195$110
39 years$1,265$807$499$300$177$98
40 years$1,220$768$468$277$161$87
41 years$1,176$731$438$255$146$77
42 years$1,136$696$411$236$132$69
43 years$1,097$664$386$218$120$61
44 years$1,060$633$362$201$109$55
45 years$1,025$603$340$186$99$49
46 years$991$575$319$171$90$43
47 years$959$549$300$158$82$39
48 years$928$524$282$146$74$34
49 years$899$501$265$135$67$31
50 years$871$478$249$125$61$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $892,000, adding $6,474 every year, while hoping to spend $38,540 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: 38/46/16 Blend
57$892,000$892,000$892,000$892,000
58$989,662$942,386$928,560$1,022,271
59$1,049,601$947,557$918,660$1,051,408
60$1,114,363$951,689$907,138$1,078,702
61$1,184,397$954,691$893,896$1,107,378
62$1,260,201$956,466$878,837$1,137,580
63$1,342,319$956,911$861,856$1,169,468
64$1,431,351$955,915$842,843$1,203,224
65$1,527,956$953,362$821,686$1,239,048
66$1,632,858$949,128$798,263$1,277,165
67$1,746,856$943,081$772,451$1,317,824
68$1,870,826$935,083$744,119$1,361,303
69$2,005,734$924,985$713,130$1,407,914
70$2,152,640$912,631$679,342$1,458,002
71$2,312,715$897,855$642,605$1,511,950
72$2,487,242$880,481$602,763$1,570,189
73$2,677,639$860,322$559,653$1,633,192
74$2,885,462$837,181$513,105$1,701,489
75$3,112,426$810,850$462,941$1,775,669
76$3,360,418$781,107$408,975$1,856,383
77$3,631,518$747,718$351,012$1,944,359
78$3,928,012$710,436$288,851$2,040,400
79$4,252,420$668,998$222,278$2,145,400
80$4,607,516$623,128$151,073$2,260,352
81$4,996,354$572,533$75,006$2,386,354
82$5,422,298$516,903$0$2,524,627
83$5,889,052$455,911$0$2,677,575
84$6,400,697$389,211$0$2,859,378
85$6,961,724$316,439$0$3,058,921
86$7,577,083$237,207$0$3,278,091
87$8,252,224$151,109$0$3,518,973
88$8,993,151$57,714$0$3,783,873
89$9,806,478$0$0$4,075,341
90$10,699,489$0$0$4,418,180
91$11,680,209$0$0$4,826,903
92$12,757,477$0$0$5,275,994
93$13,941,033$0$0$5,769,531
94$15,241,603$0$0$6,312,002
95$16,671,006$0$0$6,908,356
96$18,242,264$0$0$7,564,043
97$19,969,721$0$0$8,285,068
98$21,869,181$0$0$9,078,046
99$23,958,056$0$0$9,950,266
100$26,255,530$0$0$10,909,761