Can I retire at age 58 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$73,826$73,168$72,527$71,900$71,289$69,257
2 years$36,547$35,867$35,207$34,567$33,947$31,916
3 years$24,123$23,439$22,781$22,148$21,537$19,570
4 years$17,912$17,230$16,579$15,956$15,361$13,473
5 years$14,186$13,509$12,866$12,256$11,677$9,873
6 years$11,703$11,031$10,398$9,801$9,240$7,522
7 years$9,930$9,264$8,640$8,058$7,514$5,883
8 years$8,601$7,941$7,328$6,760$6,234$4,688
9 years$7,568$6,914$6,311$5,758$5,250$3,788
10 years$6,742$6,094$5,502$4,963$4,473$3,093
11 years$6,067$5,425$4,844$4,320$3,847$2,546
12 years$5,504$4,869$4,299$3,789$3,334$2,110
13 years$5,029$4,401$3,841$3,345$2,907$1,758
14 years$4,622$4,000$3,451$2,969$2,548$1,470
15 years$4,269$3,654$3,116$2,648$2,244$1,234
16 years$3,961$3,353$2,825$2,371$1,983$1,039
17 years$3,689$3,088$2,571$2,130$1,758$877
18 years$3,448$2,853$2,347$1,920$1,563$741
19 years$3,232$2,644$2,148$1,735$1,393$628
20 years$3,038$2,457$1,972$1,571$1,245$533
21 years$2,863$2,289$1,813$1,426$1,114$452
22 years$2,704$2,136$1,671$1,297$998$384
23 years$2,559$1,998$1,543$1,181$896$327
24 years$2,427$1,872$1,427$1,077$806$278
25 years$2,305$1,757$1,322$984$725$237
26 years$2,193$1,651$1,226$899$653$202
27 years$2,089$1,554$1,138$823$589$172
28 years$1,993$1,464$1,058$754$531$147
29 years$1,903$1,381$985$692$480$125
30 years$1,820$1,305$917$635$433$107
31 years$1,742$1,233$855$583$392$91
32 years$1,669$1,167$798$536$354$78
33 years$1,601$1,105$745$493$321$67
34 years$1,537$1,047$696$453$290$57
35 years$1,477$993$651$417$263$49
36 years$1,420$943$609$384$238$41
37 years$1,366$896$570$354$216$35
38 years$1,316$851$534$326$196$30
39 years$1,268$809$500$301$178$26
40 years$1,222$770$469$278$161$22
41 years$1,179$733$439$256$146$19
42 years$1,138$698$412$236$133$16
43 years$1,099$665$387$218$120$14
44 years$1,062$634$363$201$109$12
45 years$1,027$605$341$186$99$10
46 years$993$577$320$172$90$9
47 years$961$550$301$159$82$7
48 years$930$525$283$147$74$6
49 years$901$502$266$136$67$5
50 years$873$479$250$125$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $894,000, adding $6,049 every year, while hoping to spend $27,475 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: 60/17/23 Blend
57$894,000$894,000$894,000$894,000
58$991,428$944,046$930,189$1,044,512
59$1,063,320$961,071$932,117$1,098,281
60$1,141,625$978,009$933,189$1,153,403
61$1,226,966$994,828$933,346$1,212,941
62$1,320,033$1,011,490$932,530$1,277,330
63$1,421,582$1,027,959$930,675$1,347,048
64$1,532,447$1,044,192$927,716$1,422,624
65$1,653,545$1,060,146$923,583$1,504,639
66$1,785,885$1,075,772$918,201$1,593,736
67$1,930,580$1,091,019$911,496$1,690,622
68$2,088,853$1,105,834$903,385$1,796,077
69$2,262,054$1,120,157$893,786$1,910,964
70$2,451,664$1,133,926$882,609$2,036,230
71$2,659,320$1,147,074$869,763$2,172,923
72$2,886,821$1,159,531$855,150$2,322,198
73$3,136,149$1,171,220$838,670$2,485,327
74$3,409,487$1,182,060$820,216$2,663,714
75$3,709,239$1,191,966$799,677$2,858,908
76$4,038,053$1,200,844$776,938$3,072,614
77$4,398,846$1,208,597$751,877$3,306,717
78$4,794,831$1,215,120$724,367$3,563,290
79$5,229,546$1,220,303$694,276$3,844,623
80$5,706,889$1,224,028$661,464$4,153,240
81$6,231,156$1,226,170$625,787$4,491,923
82$6,807,076$1,226,594$587,093$4,863,740
83$7,439,860$1,225,160$545,223$5,272,074
84$8,135,250$1,221,717$500,013$5,720,655
85$8,899,571$1,216,106$451,288$6,213,595
86$9,739,790$1,208,158$398,869$6,755,429
87$10,663,583$1,197,692$342,566$7,351,156
88$11,679,409$1,184,520$282,182$8,006,287
89$12,796,586$1,168,438$217,512$8,726,899
90$14,025,380$1,149,234$148,341$9,519,691
91$15,377,102$1,126,680$74,444$10,392,048
92$16,864,216$1,100,537$0$11,352,113
93$18,500,453$1,070,550$0$12,409,945
94$20,300,943$1,036,451$0$13,593,924
95$22,282,356$997,954$0$14,896,731
96$24,463,061$954,758$0$16,330,459
97$26,863,297$906,545$0$17,908,432
98$29,505,364$852,977$0$19,645,334
99$32,413,836$793,697$0$21,557,349
100$35,615,788$728,329$0$23,662,311