Can I retire at age 58 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$73,991$73,332$72,689$72,061$71,448$69,134
2 years$36,629$35,947$35,286$34,645$34,023$31,713
3 years$24,177$23,492$22,832$22,197$21,586$19,352
4 years$17,952$17,269$16,616$15,992$15,395$13,256
5 years$14,218$13,539$12,895$12,283$11,703$9,663
6 years$11,729$11,056$10,421$9,823$9,260$7,322
7 years$9,953$9,285$8,660$8,076$7,531$5,694
8 years$8,621$7,959$7,344$6,775$6,248$4,511
9 years$7,585$6,929$6,326$5,771$5,261$3,622
10 years$6,757$6,108$5,515$4,974$4,483$2,939
11 years$6,080$5,437$4,855$4,329$3,856$2,404
12 years$5,517$4,880$4,309$3,797$3,341$1,979
13 years$5,040$4,410$3,850$3,352$2,914$1,638
14 years$4,632$4,009$3,459$2,976$2,554$1,360
15 years$4,279$3,662$3,123$2,654$2,249$1,134
16 years$3,970$3,360$2,831$2,376$1,987$948
17 years$3,697$3,094$2,576$2,135$1,762$794
18 years$3,456$2,859$2,352$1,924$1,567$666
19 years$3,239$2,650$2,153$1,739$1,397$560
20 years$3,045$2,463$1,976$1,575$1,247$471
21 years$2,870$2,294$1,818$1,429$1,116$397
22 years$2,710$2,141$1,675$1,299$1,001$335
23 years$2,565$2,003$1,547$1,183$898$283
24 years$2,432$1,876$1,430$1,079$807$239
25 years$2,310$1,761$1,325$986$726$202
26 years$2,197$1,655$1,229$901$654$171
27 years$2,093$1,557$1,141$825$590$144
28 years$1,997$1,468$1,061$756$532$122
29 years$1,907$1,384$987$693$481$103
30 years$1,824$1,308$919$636$434$87
31 years$1,746$1,236$857$584$393$74
32 years$1,673$1,170$800$537$355$63
33 years$1,605$1,108$747$494$321$53
34 years$1,540$1,050$698$454$291$45
35 years$1,480$996$652$418$264$38
36 years$1,423$945$610$385$239$32
37 years$1,369$898$571$355$216$27
38 years$1,319$853$535$327$196$23
39 years$1,271$811$501$302$178$20
40 years$1,225$772$470$278$161$17
41 years$1,182$735$440$257$146$14
42 years$1,141$700$413$237$133$12
43 years$1,102$667$388$219$121$10
44 years$1,065$635$364$202$109$9
45 years$1,029$606$342$186$99$7
46 years$995$578$321$172$90$6
47 years$963$552$301$159$82$5
48 years$932$527$283$147$74$4
49 years$903$503$266$136$68$4
50 years$875$480$250$126$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $896,000, adding $3,797 every year, while hoping to spend $56,032 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: 52/20/28 Blend
57$896,000$896,000$896,000$896,000
58$991,309$943,821$929,933$1,034,894
59$1,032,804$930,450$901,468$1,052,219
60$1,076,655$914,547$870,171$1,065,090
61$1,123,041$895,927$835,889$1,077,984
62$1,172,160$874,396$798,461$1,090,927
63$1,224,229$849,750$757,717$1,103,952
64$1,279,482$821,770$713,483$1,117,097
65$1,338,179$790,226$665,574$1,130,409
66$1,400,600$754,874$613,798$1,143,943
67$1,467,055$715,457$557,954$1,157,763
68$1,537,882$671,701$497,832$1,171,945
69$1,613,450$623,319$433,214$1,186,578
70$1,694,166$570,005$363,870$1,201,765
71$1,780,473$511,437$289,562$1,217,622
72$1,872,859$447,275$210,040$1,234,286
73$1,971,857$377,159$125,043$1,251,912
74$2,078,054$300,707$34,300$1,270,678
75$2,192,093$217,520$0$1,290,786
76$2,314,680$127,171$0$1,331,150
77$2,446,589$29,214$0$1,385,497
78$2,588,670$0$0$1,443,955
79$2,741,858$0$0$1,523,863
80$2,907,180$0$0$1,617,108
81$3,085,762$0$0$1,717,905
82$3,278,845$0$0$1,826,963
83$3,487,789$0$0$1,945,060
84$3,714,092$0$0$2,073,053
85$3,959,401$0$0$2,211,884
86$4,225,525$0$0$2,362,588
87$4,514,455$0$0$2,526,304
88$4,828,381$0$0$2,704,285
89$5,169,711$0$0$2,897,910
90$5,541,094$0$0$3,108,694
91$5,945,447$0$0$3,338,308
92$6,385,978$0$0$3,588,586
93$6,866,217$0$0$3,861,551
94$7,390,050$0$0$4,159,426
95$7,961,753$0$0$4,484,661
96$8,586,034$0$0$4,839,950
97$9,268,076$0$0$5,228,261
98$10,013,583$0$0$5,652,861
99$10,828,837$0$0$6,117,347
100$11,720,754$0$0$6,625,679