Can I retire at age 58 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$74,073$73,414$72,770$72,142$71,528$70,929
2 years$36,670$35,987$35,325$34,683$34,061$33,457
3 years$24,204$23,518$22,858$22,222$21,610$21,020
4 years$17,972$17,288$16,635$16,010$15,412$14,841
5 years$14,234$13,554$12,909$12,297$11,716$11,165
6 years$11,743$11,068$10,432$9,834$9,271$8,740
7 years$9,964$9,295$8,669$8,085$7,539$7,030
8 years$8,630$7,967$7,352$6,782$6,255$5,767
9 years$7,594$6,937$6,333$5,777$5,267$4,800
10 years$6,765$6,115$5,521$4,980$4,488$4,042
11 years$6,087$5,444$4,861$4,334$3,860$3,434
12 years$5,523$4,886$4,314$3,802$3,345$2,939
13 years$5,046$4,415$3,854$3,356$2,917$2,531
14 years$4,637$4,013$3,463$2,979$2,557$2,190
15 years$4,283$3,666$3,126$2,657$2,251$1,903
16 years$3,974$3,364$2,835$2,379$1,990$1,659
17 years$3,701$3,098$2,579$2,138$1,764$1,451
18 years$3,459$2,863$2,355$1,926$1,569$1,272
19 years$3,243$2,653$2,156$1,741$1,398$1,118
20 years$3,049$2,465$1,978$1,576$1,249$984
21 years$2,873$2,296$1,820$1,431$1,118$868
22 years$2,713$2,144$1,677$1,301$1,002$767
23 years$2,568$2,005$1,548$1,185$899$678
24 years$2,435$1,878$1,432$1,081$808$600
25 years$2,313$1,763$1,326$987$727$532
26 years$2,200$1,657$1,230$902$655$472
27 years$2,096$1,559$1,142$826$591$419
28 years$1,999$1,469$1,062$757$533$372
29 years$1,909$1,386$988$694$481$331
30 years$1,826$1,309$920$637$435$294
31 years$1,748$1,237$858$585$393$261
32 years$1,675$1,171$801$538$356$233
33 years$1,606$1,109$748$494$322$207
34 years$1,542$1,051$698$455$291$184
35 years$1,482$997$653$419$264$164
36 years$1,425$946$611$386$239$146
37 years$1,371$899$572$355$217$130
38 years$1,320$854$535$327$196$116
39 years$1,272$812$502$302$178$104
40 years$1,226$773$470$278$162$92
41 years$1,183$735$441$257$147$82
42 years$1,142$700$414$237$133$74
43 years$1,103$667$388$219$121$66
44 years$1,066$636$364$202$110$59
45 years$1,030$607$342$187$99$52
46 years$997$579$321$172$90$47
47 years$964$552$302$159$82$42
48 years$933$527$284$147$74$37
49 years$904$503$267$136$68$33
50 years$876$481$251$126$61$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $897,000, adding $4,527 every year, while hoping to spend $51,134 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: 48/42/10 Blend
57$897,000$897,000$897,000$897,000
58$993,164$945,623$931,719$1,037,919
59$1,040,060$937,552$908,526$1,061,079
60$1,090,026$927,372$882,841$1,080,494
61$1,143,321$914,925$854,529$1,100,404
62$1,200,229$900,046$823,444$1,120,870
63$1,261,060$882,556$789,437$1,141,964
64$1,326,156$862,269$752,351$1,163,768
65$1,395,890$838,986$712,021$1,186,375
66$1,470,673$812,499$668,276$1,209,892
67$1,550,955$782,584$620,936$1,234,440
68$1,637,228$749,007$569,814$1,260,159
69$1,730,036$711,519$514,714$1,287,205
70$1,829,974$669,858$455,431$1,315,756
71$1,937,695$623,744$391,751$1,346,013
72$2,053,916$572,884$323,451$1,378,204
73$2,179,428$516,967$250,299$1,412,586
74$2,315,096$455,665$172,050$1,449,446
75$2,461,873$388,630$88,451$1,489,110
76$2,620,806$315,495$0$1,531,943
77$2,793,047$235,874$0$1,578,435
78$2,979,862$149,355$0$1,639,043
79$3,182,642$55,508$0$1,704,865
80$3,402,920$0$0$1,776,508
81$3,642,378$0$0$1,875,970
82$3,902,870$0$0$2,012,163
83$4,186,436$0$0$2,160,510
84$4,495,317$0$0$2,322,197
85$4,831,983$0$0$2,498,526
86$5,199,150$0$0$2,690,935
87$5,599,809$0$0$2,901,003
88$6,037,252$0$0$3,130,469
89$6,515,100$0$0$3,381,247
90$7,037,344$0$0$3,655,446
91$7,608,374$0$0$3,955,387
92$8,233,026$0$0$4,283,625
93$8,916,623$0$0$4,642,974
94$9,665,027$0$0$5,036,532
95$10,484,695$0$0$5,467,714
96$11,382,734$0$0$5,940,275
97$12,366,974$0$0$6,458,355
98$13,446,037$0$0$7,026,513
99$14,629,421$0$0$7,649,770
100$15,927,584$0$0$8,333,655