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%19.3%
1 years$74,073$73,414$72,770$72,142$71,528$68,853
2 years$36,670$35,987$35,325$34,683$34,061$31,397
3 years$24,204$23,518$22,858$22,222$21,610$19,040
4 years$17,972$17,288$16,635$16,010$15,412$12,957
5 years$14,234$13,554$12,909$12,297$11,716$9,381
6 years$11,743$11,068$10,432$9,834$9,271$7,057
7 years$9,964$9,295$8,669$8,085$7,539$5,448
8 years$8,630$7,967$7,352$6,782$6,255$4,282
9 years$7,594$6,937$6,333$5,777$5,267$3,412
10 years$6,765$6,115$5,521$4,980$4,488$2,746
11 years$6,087$5,444$4,861$4,334$3,860$2,227
12 years$5,523$4,886$4,314$3,802$3,345$1,817
13 years$5,046$4,415$3,854$3,356$2,917$1,490
14 years$4,637$4,013$3,463$2,979$2,557$1,227
15 years$4,283$3,666$3,126$2,657$2,251$1,013
16 years$3,974$3,364$2,835$2,379$1,990$839
17 years$3,701$3,098$2,579$2,138$1,764$696
18 years$3,459$2,863$2,355$1,926$1,569$579
19 years$3,243$2,653$2,156$1,741$1,398$482
20 years$3,049$2,465$1,978$1,576$1,249$401
21 years$2,873$2,296$1,820$1,431$1,118$335
22 years$2,713$2,144$1,677$1,301$1,002$280
23 years$2,568$2,005$1,548$1,185$899$234
24 years$2,435$1,878$1,432$1,081$808$195
25 years$2,313$1,763$1,326$987$727$163
26 years$2,200$1,657$1,230$902$655$137
27 years$2,096$1,559$1,142$826$591$114
28 years$1,999$1,469$1,062$757$533$96
29 years$1,909$1,386$988$694$481$80
30 years$1,826$1,309$920$637$435$67
31 years$1,748$1,237$858$585$393$56
32 years$1,675$1,171$801$538$356$47
33 years$1,606$1,109$748$494$322$39
34 years$1,542$1,051$698$455$291$33
35 years$1,482$997$653$419$264$28
36 years$1,425$946$611$386$239$23
37 years$1,371$899$572$355$217$19
38 years$1,320$854$535$327$196$16
39 years$1,272$812$502$302$178$14
40 years$1,226$773$470$278$162$11
41 years$1,183$735$441$257$147$10
42 years$1,142$700$414$237$133$8
43 years$1,103$667$388$219$121$7
44 years$1,066$636$364$202$110$6
45 years$1,030$607$342$187$99$5
46 years$997$579$321$172$90$4
47 years$964$552$302$159$82$3
48 years$933$527$284$147$74$3
49 years$904$503$267$136$68$2
50 years$876$481$251$126$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $897,000, adding $3,774 every year, while hoping to spend $41,942 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: 53/42/5 Blend
57$897,000$897,000$897,000$897,000
58$992,387$944,846$930,942$1,043,703
59$1,048,984$946,517$917,503$1,080,504
60$1,109,949$946,865$902,208$1,115,581
61$1,175,682$945,780$884,950$1,152,714
62$1,246,624$943,146$865,618$1,192,103
63$1,323,260$938,840$844,096$1,233,971
64$1,406,121$932,731$820,262$1,278,566
65$1,495,792$924,682$793,988$1,326,160
66$1,592,917$914,545$765,140$1,377,059
67$1,698,202$902,165$733,580$1,431,600
68$1,812,424$887,377$699,160$1,490,156
69$1,936,438$870,006$661,729$1,553,142
70$2,071,185$849,866$621,128$1,621,018
71$2,217,700$826,763$577,189$1,694,292
72$2,377,119$800,488$529,738$1,773,530
73$2,550,695$770,822$478,594$1,859,356
74$2,739,805$737,532$423,567$1,952,463
75$2,945,967$700,372$364,458$2,053,619
76$3,170,848$659,083$301,060$2,163,672
77$3,416,285$613,389$233,156$2,283,563
78$3,684,301$562,999$160,521$2,414,333
79$3,977,120$507,607$82,919$2,557,135
80$4,297,192$446,886$103$2,713,244
81$4,647,216$380,493$0$2,884,072
82$5,030,161$308,067$0$3,075,888
83$5,449,298$229,222$0$3,286,022
84$5,908,228$143,555$0$3,516,394
85$6,410,916$50,638$0$3,769,132
86$6,961,729$0$0$4,046,588
87$7,565,479$0$0$4,374,459
88$8,227,460$0$0$4,759,703
89$8,953,509$0$0$5,182,322
90$9,750,050$0$0$5,646,067
91$10,624,161$0$0$6,155,071
92$11,583,640$0$0$6,713,887
93$12,637,073$0$0$7,327,528
94$13,793,922$0$0$8,001,519
95$15,064,607$0$0$8,741,944
96$16,460,608$0$0$9,555,507
97$17,994,574$0$0$10,449,592
98$19,680,435$0$0$11,432,337
99$21,533,543$0$0$12,512,703
100$23,570,807$0$0$13,700,566