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%13.2%
1 years$74,073$73,414$72,770$72,142$71,528$70,576
2 years$36,670$35,987$35,325$34,683$34,061$33,103
3 years$24,204$23,518$22,858$22,222$21,610$20,676
4 years$17,972$17,288$16,635$16,010$15,412$14,510
5 years$14,234$13,554$12,909$12,297$11,716$10,848
6 years$11,743$11,068$10,432$9,834$9,271$8,437
7 years$9,964$9,295$8,669$8,085$7,539$6,741
8 years$8,630$7,967$7,352$6,782$6,255$5,492
9 years$7,594$6,937$6,333$5,777$5,267$4,539
10 years$6,765$6,115$5,521$4,980$4,488$3,795
11 years$6,087$5,444$4,861$4,334$3,860$3,200
12 years$5,523$4,886$4,314$3,802$3,345$2,718
13 years$5,046$4,415$3,854$3,356$2,917$2,322
14 years$4,637$4,013$3,463$2,979$2,557$1,993
15 years$4,283$3,666$3,126$2,657$2,251$1,718
16 years$3,974$3,364$2,835$2,379$1,990$1,486
17 years$3,701$3,098$2,579$2,138$1,764$1,289
18 years$3,459$2,863$2,355$1,926$1,569$1,120
19 years$3,243$2,653$2,156$1,741$1,398$976
20 years$3,049$2,465$1,978$1,576$1,249$852
21 years$2,873$2,296$1,820$1,431$1,118$744
22 years$2,713$2,144$1,677$1,301$1,002$652
23 years$2,568$2,005$1,548$1,185$899$571
24 years$2,435$1,878$1,432$1,081$808$501
25 years$2,313$1,763$1,326$987$727$440
26 years$2,200$1,657$1,230$902$655$386
27 years$2,096$1,559$1,142$826$591$340
28 years$1,999$1,469$1,062$757$533$299
29 years$1,909$1,386$988$694$481$263
30 years$1,826$1,309$920$637$435$231
31 years$1,748$1,237$858$585$393$204
32 years$1,675$1,171$801$538$356$180
33 years$1,606$1,109$748$494$322$158
34 years$1,542$1,051$698$455$291$140
35 years$1,482$997$653$419$264$123
36 years$1,425$946$611$386$239$109
37 years$1,371$899$572$355$217$96
38 years$1,320$854$535$327$196$85
39 years$1,272$812$502$302$178$75
40 years$1,226$773$470$278$162$66
41 years$1,183$735$441$257$147$58
42 years$1,142$700$414$237$133$51
43 years$1,103$667$388$219$121$45
44 years$1,066$636$364$202$110$40
45 years$1,030$607$342$187$99$35
46 years$997$579$321$172$90$31
47 years$964$552$302$159$82$28
48 years$933$527$284$147$74$24
49 years$904$503$267$136$68$21
50 years$876$481$251$126$61$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $897,000, adding $3,088 every year, while hoping to spend $32,551 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: 26/46/28 Blend
57$897,000$897,000$897,000$897,000
58$991,679$944,138$930,235$1,008,726
59$1,058,197$955,767$926,764$1,034,601
60$1,130,408$966,875$922,085$1,059,361
61$1,208,859$977,401$916,125$1,085,259
62$1,294,151$987,283$908,804$1,112,415
63$1,386,946$996,451$900,040$1,140,960
64$1,487,971$1,004,834$889,748$1,171,045
65$1,598,027$1,012,353$877,837$1,202,834
66$1,717,994$1,018,927$864,213$1,236,513
67$1,848,842$1,024,467$848,777$1,272,290
68$1,991,639$1,028,881$831,426$1,310,394
69$2,147,559$1,032,068$812,051$1,351,084
70$2,317,895$1,033,925$790,540$1,394,646
71$2,504,070$1,034,337$766,773$1,441,401
72$2,707,653$1,033,187$740,627$1,491,703
73$2,930,368$1,030,348$711,973$1,545,948
74$3,174,116$1,025,685$680,675$1,604,579
75$3,440,989$1,019,057$646,591$1,668,083
76$3,733,291$1,010,313$609,573$1,737,006
77$4,053,560$999,291$569,467$1,811,953
78$4,404,590$985,823$526,110$1,893,596
79$4,789,458$969,728$479,335$1,982,681
80$5,211,553$950,816$428,964$2,080,036
81$5,674,611$928,884$374,812$2,186,581
82$6,182,741$903,720$316,689$2,303,334
83$6,740,474$875,096$254,392$2,431,426
84$7,352,800$842,773$187,711$2,572,111
85$8,025,214$806,497$116,428$2,726,777
86$8,763,771$766,000$40,313$2,896,963
87$9,575,140$720,999$0$3,084,376
88$10,466,669$671,192$0$3,303,126
89$11,446,452$616,263$0$3,556,728
90$12,523,406$555,877$0$3,835,520
91$13,707,357$489,678$0$4,142,143
92$15,009,127$417,292$0$4,479,517
93$16,440,642$338,323$0$4,850,868
94$18,015,040$252,353$0$5,259,757
95$19,746,796$158,941$0$5,710,119
96$21,651,859$57,619$0$6,206,296
97$23,747,802$0$0$6,753,086
98$26,053,985$0$0$7,382,158
99$28,591,743$0$0$8,106,668
100$31,384,579$0$0$8,904,180