Can I retire at age 58 with 897,000?

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 $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%16.4%
1 years$74,073$73,414$72,770$72,142$71,528$69,658
2 years$36,670$35,987$35,325$34,683$34,061$32,189
3 years$24,204$23,518$22,858$22,222$21,610$19,795
4 years$17,972$17,288$16,635$16,010$15,412$13,669
5 years$14,234$13,554$12,909$12,297$11,716$10,049
6 years$11,743$11,068$10,432$9,834$9,271$7,681
7 years$9,964$9,295$8,669$8,085$7,539$6,028
8 years$8,630$7,967$7,352$6,782$6,255$4,820
9 years$7,594$6,937$6,333$5,777$5,267$3,909
10 years$6,765$6,115$5,521$4,980$4,488$3,204
11 years$6,087$5,444$4,861$4,334$3,860$2,648
12 years$5,523$4,886$4,314$3,802$3,345$2,203
13 years$5,046$4,415$3,854$3,356$2,917$1,842
14 years$4,637$4,013$3,463$2,979$2,557$1,548
15 years$4,283$3,666$3,126$2,657$2,251$1,305
16 years$3,974$3,364$2,835$2,379$1,990$1,103
17 years$3,701$3,098$2,579$2,138$1,764$935
18 years$3,459$2,863$2,355$1,926$1,569$794
19 years$3,243$2,653$2,156$1,741$1,398$676
20 years$3,049$2,465$1,978$1,576$1,249$576
21 years$2,873$2,296$1,820$1,431$1,118$491
22 years$2,713$2,144$1,677$1,301$1,002$419
23 years$2,568$2,005$1,548$1,185$899$358
24 years$2,435$1,878$1,432$1,081$808$307
25 years$2,313$1,763$1,326$987$727$262
26 years$2,200$1,657$1,230$902$655$225
27 years$2,096$1,559$1,142$826$591$192
28 years$1,999$1,469$1,062$757$533$165
29 years$1,909$1,386$988$694$481$141
30 years$1,826$1,309$920$637$435$121
31 years$1,748$1,237$858$585$393$104
32 years$1,675$1,171$801$538$356$89
33 years$1,606$1,109$748$494$322$77
34 years$1,542$1,051$698$455$291$66
35 years$1,482$997$653$419$264$56
36 years$1,425$946$611$386$239$48
37 years$1,371$899$572$355$217$42
38 years$1,320$854$535$327$196$36
39 years$1,272$812$502$302$178$31
40 years$1,226$773$470$278$162$26
41 years$1,183$735$441$257$147$23
42 years$1,142$700$414$237$133$19
43 years$1,103$667$388$219$121$17
44 years$1,066$636$364$202$110$14
45 years$1,030$607$342$187$99$12
46 years$997$579$321$172$90$11
47 years$964$552$302$159$82$9
48 years$933$527$284$147$74$8
49 years$904$503$267$136$68$7
50 years$876$481$251$126$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $897,000, adding $6,684 every year, while hoping to spend $37,241 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: 54/38/8 Blend
57$897,000$897,000$897,000$897,000
58$995,389$947,848$933,944$1,046,859
59$1,057,294$954,668$925,607$1,089,280
60$1,124,266$960,574$915,743$1,130,768
61$1,196,781$965,483$904,260$1,175,026
62$1,275,365$969,304$891,065$1,222,323
63$1,360,594$971,942$876,058$1,272,957
64$1,453,104$973,296$859,135$1,327,256
65$1,553,593$973,260$840,188$1,385,585
66$1,662,828$971,718$819,103$1,448,345
67$1,781,654$968,549$795,760$1,515,982
68$1,911,000$963,626$770,036$1,588,986
69$2,051,890$956,812$741,800$1,667,902
70$2,205,449$947,961$710,916$1,753,330
71$2,372,915$936,922$677,242$1,845,935
72$2,555,651$923,530$640,629$1,946,451
73$2,755,159$907,614$600,922$2,055,690
74$2,973,090$888,992$557,957$2,174,547
75$3,211,262$867,470$511,566$2,304,016
76$3,471,678$842,843$461,570$2,445,190
77$3,756,541$814,894$407,785$2,599,280
78$4,068,279$783,395$350,016$2,767,623
79$4,409,564$748,102$288,063$2,951,697
80$4,783,340$708,759$221,713$3,153,132
81$5,192,847$665,094$150,746$3,373,730
82$5,641,654$616,820$74,933$3,615,484
83$6,133,692$563,634$0$3,880,591
84$6,673,290$505,214$0$4,171,988
85$7,265,218$441,221$0$4,498,706
86$7,914,726$371,297$0$4,857,325
87$8,627,600$295,063$0$5,251,136
88$9,410,214$212,119$0$5,683,771
89$10,269,585$122,043$0$6,159,241
90$11,213,448$24,388$0$6,681,968
91$12,250,321$0$0$7,256,833
92$13,389,587$0$0$7,923,226
93$14,641,584$0$0$8,666,858
94$16,017,703$0$0$9,484,308
95$17,530,490$0$0$10,383,041
96$19,193,769$0$0$11,371,282
97$21,022,771$0$0$12,458,092
98$23,034,275$0$0$13,653,455
99$25,246,768$0$0$14,968,372
100$27,680,620$0$0$16,414,961