Can I retire at age 58 with 895,000?

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 $895,000?

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$73,908$73,250$72,608$71,981$71,369$69,334
2 years$36,588$35,907$35,246$34,606$33,985$31,951
3 years$24,150$23,466$22,807$22,172$21,561$19,592
4 years$17,932$17,250$16,597$15,974$15,378$13,488
5 years$14,202$13,524$12,880$12,270$11,690$9,885
6 years$11,716$11,043$10,409$9,812$9,250$7,531
7 years$9,942$9,274$8,650$8,067$7,523$5,890
8 years$8,611$7,950$7,336$6,767$6,241$4,693
9 years$7,577$6,922$6,318$5,764$5,256$3,792
10 years$6,750$6,101$5,509$4,969$4,478$3,096
11 years$6,074$5,431$4,850$4,324$3,851$2,549
12 years$5,511$4,875$4,304$3,793$3,337$2,112
13 years$5,035$4,406$3,845$3,349$2,910$1,760
14 years$4,627$4,004$3,455$2,973$2,551$1,472
15 years$4,274$3,658$3,119$2,651$2,246$1,236
16 years$3,965$3,356$2,828$2,374$1,985$1,040
17 years$3,693$3,091$2,574$2,133$1,760$878
18 years$3,452$2,856$2,349$1,922$1,565$742
19 years$3,236$2,647$2,151$1,737$1,395$629
20 years$3,042$2,460$1,974$1,573$1,246$533
21 years$2,867$2,291$1,816$1,428$1,115$453
22 years$2,707$2,139$1,673$1,298$1,000$385
23 years$2,562$2,000$1,545$1,182$897$327
24 years$2,429$1,874$1,429$1,078$806$279
25 years$2,307$1,759$1,323$985$726$237
26 years$2,195$1,653$1,227$900$654$202
27 years$2,091$1,556$1,140$824$589$172
28 years$1,995$1,466$1,060$755$532$147
29 years$1,905$1,383$986$692$480$125
30 years$1,822$1,306$918$635$434$107
31 years$1,744$1,235$856$584$392$91
32 years$1,671$1,168$799$536$355$78
33 years$1,603$1,106$746$493$321$67
34 years$1,539$1,049$697$454$291$57
35 years$1,478$995$652$418$263$49
36 years$1,421$944$610$385$239$42
37 years$1,368$897$571$354$216$35
38 years$1,317$852$534$327$196$30
39 years$1,269$810$501$301$178$26
40 years$1,224$771$469$278$161$22
41 years$1,180$734$440$256$146$19
42 years$1,139$699$413$237$133$16
43 years$1,100$666$387$218$120$14
44 years$1,063$635$363$202$109$12
45 years$1,028$605$341$186$99$10
46 years$994$577$321$172$90$9
47 years$962$551$301$159$82$7
48 years$931$526$283$147$74$6
49 years$902$502$266$136$68$5
50 years$874$480$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 $895,000, adding $4,183 every year, while hoping to spend $36,432 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: 55/33/12 Blend
57$895,000$895,000$895,000$895,000
58$990,605$943,170$929,297$1,041,825
59$1,052,883$950,622$921,665$1,084,491
60$1,120,293$957,218$912,557$1,126,595
61$1,193,319$962,878$901,883$1,171,588
62$1,272,494$967,515$889,553$1,219,752
63$1,358,405$971,040$875,470$1,271,398
64$1,451,697$973,356$859,533$1,326,873
65$1,553,079$974,359$841,636$1,386,557
66$1,663,331$973,940$821,669$1,450,871
67$1,783,311$971,984$799,515$1,520,283
68$1,913,965$968,367$775,055$1,595,305
69$2,056,331$962,959$748,161$1,676,509
70$2,211,553$955,620$718,701$1,764,522
71$2,380,890$946,205$686,536$1,860,040
72$2,565,729$934,556$651,523$1,963,831
73$2,767,593$920,510$613,509$2,076,744
74$2,988,163$903,890$572,337$2,199,715
75$3,229,286$884,511$527,841$2,333,782
76$3,492,999$862,178$479,849$2,480,088
77$3,781,541$836,681$428,180$2,639,897
78$4,097,381$807,801$372,647$2,814,606
79$4,443,235$775,305$313,052$3,005,756
80$4,822,096$738,945$249,190$3,215,050
81$5,237,259$698,463$180,847$3,444,369
82$5,692,353$653,581$107,798$3,695,789
83$6,191,374$604,007$29,811$3,971,603
84$6,738,725$549,435$0$4,274,343
85$7,339,255$489,537$0$4,613,641
86$7,998,304$423,969$0$4,990,263
87$8,721,754$352,367$0$5,403,825
88$9,516,087$274,347$0$5,858,123
89$10,388,441$189,502$0$6,357,343
90$11,346,678$97,404$0$6,906,101
91$12,399,462$0$0$7,509,492
92$13,556,336$0$0$8,174,004
93$14,827,813$0$0$8,943,308
94$16,225,475$0$0$9,789,051
95$17,762,084$0$0$10,718,965
96$19,451,698$0$0$11,741,571
97$21,309,805$0$0$12,866,255
98$23,353,471$0$0$14,103,358
99$25,601,499$0$0$15,464,276
100$28,074,604$0$0$16,961,561