Can I retire at age 58 with 899,000?

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 $899,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$74,239$73,577$72,932$72,302$71,688$69,144
2 years$36,752$36,067$35,404$34,761$34,137$31,601
3 years$24,258$23,570$22,909$22,272$21,658$19,210
4 years$18,012$17,327$16,672$16,045$15,447$13,105
5 years$14,266$13,584$12,938$12,324$11,742$9,514
6 years$11,769$11,093$10,456$9,856$9,291$7,177
7 years$9,986$9,316$8,689$8,103$7,556$5,556
8 years$8,650$7,985$7,369$6,797$6,269$4,380
9 years$7,611$6,953$6,347$5,790$5,279$3,500
10 years$6,780$6,128$5,533$4,991$4,498$2,826
11 years$6,101$5,456$4,871$4,344$3,868$2,300
12 years$5,535$4,897$4,323$3,810$3,352$1,883
13 years$5,057$4,425$3,862$3,364$2,923$1,550
14 years$4,647$4,022$3,470$2,986$2,563$1,280
15 years$4,293$3,675$3,133$2,663$2,256$1,061
16 years$3,983$3,371$2,841$2,384$1,994$882
17 years$3,710$3,105$2,585$2,142$1,768$734
18 years$3,467$2,869$2,360$1,931$1,572$613
19 years$3,250$2,659$2,160$1,744$1,401$512
20 years$3,055$2,471$1,983$1,580$1,252$428
21 years$2,879$2,302$1,824$1,434$1,120$359
22 years$2,719$2,148$1,681$1,304$1,004$301
23 years$2,574$2,009$1,552$1,187$901$252
24 years$2,440$1,883$1,435$1,083$810$212
25 years$2,318$1,767$1,329$989$729$178
26 years$2,205$1,660$1,233$904$657$149
27 years$2,100$1,563$1,145$828$592$125
28 years$2,004$1,473$1,064$758$534$105
29 years$1,914$1,389$990$695$482$89
30 years$1,830$1,312$923$638$436$74
31 years$1,752$1,240$860$586$394$63
32 years$1,679$1,173$802$539$356$53
33 years$1,610$1,111$749$495$323$44
34 years$1,546$1,053$700$456$292$37
35 years$1,485$999$654$420$265$31
36 years$1,428$948$612$386$240$26
37 years$1,374$901$573$356$217$22
38 years$1,323$856$537$328$197$19
39 years$1,275$814$503$303$179$16
40 years$1,229$774$471$279$162$13
41 years$1,186$737$442$258$147$11
42 years$1,145$702$415$238$133$9
43 years$1,105$669$389$219$121$8
44 years$1,068$638$365$203$110$7
45 years$1,033$608$343$187$100$6
46 years$999$580$322$173$91$5
47 years$966$553$302$160$82$4
48 years$936$528$284$148$75$3
49 years$906$505$267$136$68$3
50 years$878$482$251$126$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $899,000, adding $2,341 every year, while hoping to spend $21,551 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: 32/42/26 Blend
57$899,000$899,000$899,000$899,000
58$993,113$945,466$931,531$1,016,927
59$1,071,480$968,863$939,807$1,058,664
60$1,157,119$992,685$947,639$1,101,508
61$1,250,747$1,016,930$954,987$1,147,228
62$1,353,158$1,041,593$961,813$1,196,090
63$1,465,221$1,066,672$968,075$1,248,389
64$1,587,897$1,092,163$973,729$1,304,450
65$1,722,243$1,118,059$978,729$1,364,631
66$1,869,422$1,144,354$983,027$1,429,326
67$2,030,715$1,171,040$986,571$1,498,970
68$2,207,535$1,198,108$989,308$1,574,042
69$2,401,436$1,225,548$991,182$1,655,071
70$2,614,130$1,253,347$992,134$1,742,640
71$2,847,502$1,281,492$992,102$1,837,391
72$3,103,631$1,309,968$991,020$1,940,033
73$3,384,804$1,338,759$988,822$2,051,346
74$3,693,541$1,367,845$985,435$2,172,193
75$4,032,619$1,397,207$980,784$2,303,523
76$4,405,097$1,426,821$974,791$2,446,384
77$4,814,344$1,456,662$967,373$2,601,931
78$5,264,072$1,486,703$958,445$2,771,438
79$5,758,369$1,516,914$947,915$2,956,308
80$6,301,743$1,547,263$935,690$3,158,093
81$6,899,155$1,577,713$921,670$3,378,498
82$7,556,073$1,608,226$905,751$3,619,408
83$8,278,524$1,638,760$887,825$3,882,900
84$9,073,144$1,669,270$867,778$4,171,264
85$9,947,247$1,699,706$845,490$4,487,026
86$10,908,891$1,730,016$820,839$4,832,970
87$11,966,953$1,760,143$793,693$5,212,167
88$13,131,217$1,790,024$763,916$5,628,004
89$14,412,460$1,819,594$731,366$6,084,213
90$15,822,559$1,848,782$695,894$6,584,911
91$17,374,598$1,877,511$657,345$7,134,638
92$19,082,997$1,905,699$615,556$7,738,398
93$20,963,642$1,933,257$570,357$8,401,710
94$23,034,040$1,960,093$521,570$9,130,658
95$25,313,480$1,986,106$469,010$9,931,949
96$27,823,216$2,011,187$412,484$10,812,980
97$30,586,671$2,035,221$351,788$11,781,905
98$33,629,650$2,058,086$286,712$12,847,714
99$36,980,592$2,079,650$217,035$14,020,318
100$40,670,833$2,099,773$142,526$15,310,644