Can I retire at age 58 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$74,156$73,495$72,851$72,222$71,608$69,122
2 years$36,711$36,027$35,365$34,722$34,099$31,620
3 years$24,231$23,544$22,883$22,247$21,634$19,240
4 years$17,992$17,307$16,653$16,028$15,429$13,139
5 years$14,250$13,569$12,924$12,311$11,729$9,548
6 years$11,756$11,080$10,444$9,845$9,281$7,211
7 years$9,975$9,305$8,679$8,094$7,548$5,588
8 years$8,640$7,976$7,361$6,790$6,262$4,411
9 years$7,602$6,945$6,340$5,784$5,273$3,530
10 years$6,772$6,122$5,527$4,985$4,493$2,853
11 years$6,094$5,450$4,866$4,339$3,864$2,325
12 years$5,529$4,891$4,318$3,806$3,349$1,906
13 years$5,051$4,420$3,858$3,360$2,920$1,571
14 years$4,642$4,018$3,467$2,983$2,560$1,299
15 years$4,288$3,670$3,130$2,660$2,254$1,079
16 years$3,978$3,368$2,838$2,382$1,992$898
17 years$3,706$3,101$2,582$2,140$1,766$749
18 years$3,463$2,866$2,357$1,928$1,570$626
19 years$3,247$2,656$2,158$1,743$1,400$523
20 years$3,052$2,468$1,980$1,578$1,250$439
21 years$2,876$2,299$1,822$1,432$1,119$368
22 years$2,716$2,146$1,679$1,302$1,003$309
23 years$2,571$2,007$1,550$1,186$900$259
24 years$2,438$1,881$1,434$1,082$809$218
25 years$2,315$1,765$1,328$988$728$183
26 years$2,202$1,659$1,231$903$656$154
27 years$2,098$1,561$1,144$827$591$130
28 years$2,001$1,471$1,063$758$534$109
29 years$1,912$1,388$989$695$482$92
30 years$1,828$1,310$921$638$435$77
31 years$1,750$1,239$859$586$394$65
32 years$1,677$1,172$802$538$356$55
33 years$1,608$1,110$748$495$322$46
34 years$1,544$1,052$699$455$292$39
35 years$1,483$998$654$419$264$33
36 years$1,426$947$612$386$239$28
37 years$1,372$900$572$356$217$23
38 years$1,322$855$536$328$197$20
39 years$1,273$813$502$302$178$17
40 years$1,228$773$471$279$162$14
41 years$1,184$736$441$257$147$12
42 years$1,143$701$414$237$133$10
43 years$1,104$668$389$219$121$8
44 years$1,067$637$365$202$110$7
45 years$1,031$607$342$187$100$6
46 years$998$579$322$173$90$5
47 years$965$553$302$159$82$4
48 years$935$528$284$147$75$4
49 years$905$504$267$136$68$3
50 years$877$481$251$126$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $898,000, adding $2,279 every year, while hoping to spend $47,650 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: 66/8/26 Blend
57$898,000$898,000$898,000$898,000
58$991,947$944,353$930,434$1,050,542
59$1,042,426$939,927$910,904$1,085,878
60$1,096,457$933,687$889,123$1,118,928
61$1,154,352$925,494$864,965$1,153,989
62$1,216,454$915,200$838,299$1,191,262
63$1,283,136$902,650$808,986$1,230,972
64$1,354,813$887,676$776,884$1,273,366
65$1,431,935$870,104$741,841$1,318,717
66$1,515,000$849,747$703,700$1,367,328
67$1,604,554$826,408$662,298$1,419,537
68$1,701,195$799,879$617,462$1,475,716
69$1,805,583$769,939$569,013$1,536,277
70$1,918,441$736,354$516,762$1,601,676
71$2,040,563$698,877$460,516$1,672,418
72$2,172,825$657,246$400,067$1,749,064
73$2,316,188$611,186$335,204$1,832,230
74$2,471,708$560,403$265,703$1,922,603
75$2,640,548$504,589$191,330$2,020,938
76$2,823,987$443,416$111,842$2,128,074
77$3,023,431$376,541$26,986$2,244,936
78$3,240,427$303,598$0$2,372,548
79$3,476,678$224,201$0$2,529,677
80$3,734,057$137,945$0$2,709,075
81$4,014,625$44,399$0$2,904,709
82$4,320,652$0$0$3,118,192
83$4,654,634$0$0$3,356,307
84$5,019,321$0$0$3,620,634
85$5,417,738$0$0$3,909,465
86$5,853,216$0$0$4,225,222
87$6,329,424$0$0$4,570,571
88$6,850,399$0$0$4,948,449
89$7,420,588$0$0$5,362,088
90$8,044,886$0$0$5,815,049
91$8,728,687$0$0$6,311,252
92$9,477,926$0$0$6,855,014
93$10,299,144$0$0$7,451,090
94$11,199,541$0$0$8,104,717
95$12,187,051$0$0$8,821,663
96$13,270,408$0$0$9,608,281
97$14,459,237$0$0$10,471,568
98$15,764,137$0$0$11,419,233
99$17,196,784$0$0$12,459,765
100$18,770,039$0$0$13,602,519