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%11%
1 years$74,239$73,577$72,932$72,302$71,688$71,385
2 years$36,752$36,067$35,404$34,761$34,137$33,832
3 years$24,258$23,570$22,909$22,272$21,658$21,359
4 years$18,012$17,327$16,672$16,045$15,447$15,157
5 years$14,266$13,584$12,938$12,324$11,742$11,462
6 years$11,769$11,093$10,456$9,856$9,291$9,021
7 years$9,986$9,316$8,689$8,103$7,556$7,297
8 years$8,650$7,985$7,369$6,797$6,269$6,019
9 years$7,611$6,953$6,347$5,790$5,279$5,040
10 years$6,780$6,128$5,533$4,991$4,498$4,269
11 years$6,101$5,456$4,871$4,344$3,868$3,649
12 years$5,535$4,897$4,323$3,810$3,352$3,143
13 years$5,057$4,425$3,862$3,364$2,923$2,723
14 years$4,647$4,022$3,470$2,986$2,563$2,372
15 years$4,293$3,675$3,133$2,663$2,256$2,075
16 years$3,983$3,371$2,841$2,384$1,994$1,822
17 years$3,710$3,105$2,585$2,142$1,768$1,604
18 years$3,467$2,869$2,360$1,931$1,572$1,416
19 years$3,250$2,659$2,160$1,744$1,401$1,254
20 years$3,055$2,471$1,983$1,580$1,252$1,112
21 years$2,879$2,302$1,824$1,434$1,120$988
22 years$2,719$2,148$1,681$1,304$1,004$879
23 years$2,574$2,009$1,552$1,187$901$783
24 years$2,440$1,883$1,435$1,083$810$699
25 years$2,318$1,767$1,329$989$729$624
26 years$2,205$1,660$1,233$904$657$558
27 years$2,100$1,563$1,145$828$592$499
28 years$2,004$1,473$1,064$758$534$447
29 years$1,914$1,389$990$695$482$400
30 years$1,830$1,312$923$638$436$359
31 years$1,752$1,240$860$586$394$322
32 years$1,679$1,173$802$539$356$289
33 years$1,610$1,111$749$495$323$259
34 years$1,546$1,053$700$456$292$233
35 years$1,485$999$654$420$265$209
36 years$1,428$948$612$386$240$188
37 years$1,374$901$573$356$217$169
38 years$1,323$856$537$328$197$152
39 years$1,275$814$503$303$179$136
40 years$1,229$774$471$279$162$123
41 years$1,186$737$442$258$147$110
42 years$1,145$702$415$238$133$99
43 years$1,105$669$389$219$121$89
44 years$1,068$638$365$203$110$80
45 years$1,033$608$343$187$100$72
46 years$999$580$322$173$91$65
47 years$966$553$302$160$82$59
48 years$936$528$284$148$75$53
49 years$906$505$267$136$68$48
50 years$878$482$251$126$62$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $899,000, adding $5,372 every year, while hoping to spend $24,910 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: 42/48/10 Blend
57$899,000$899,000$899,000$899,000
58$996,239$948,592$934,658$1,034,945
59$1,071,352$968,569$939,465$1,082,500
60$1,153,291$988,690$943,598$1,131,041
61$1,242,726$1,008,936$947,008$1,183,042
62$1,340,396$1,029,285$949,645$1,238,828
63$1,447,111$1,049,716$951,453$1,298,758
64$1,563,767$1,070,202$952,377$1,363,228
65$1,691,346$1,090,717$952,357$1,432,672
66$1,830,933$1,111,232$951,330$1,507,572
67$1,983,721$1,131,714$949,232$1,588,457
68$2,151,023$1,152,131$945,994$1,675,911
69$2,334,286$1,172,444$941,543$1,770,578
70$2,535,103$1,192,614$935,805$1,873,166
71$2,755,229$1,212,598$928,700$1,984,459
72$2,996,597$1,232,349$920,146$2,105,320
73$3,261,335$1,251,820$910,057$2,236,699
74$3,551,788$1,270,955$898,340$2,379,646
75$3,870,537$1,289,699$884,901$2,535,318
76$4,220,427$1,307,990$869,641$2,704,989
77$4,604,592$1,325,762$852,455$2,890,067
78$5,026,482$1,342,947$833,234$3,092,103
79$5,489,901$1,359,468$811,864$3,312,807
80$5,999,035$1,375,247$788,226$3,554,065
81$6,558,500$1,390,197$762,195$3,817,956
82$7,173,379$1,404,228$733,640$4,106,776
83$7,849,271$1,417,243$702,425$4,423,052
84$8,592,347$1,429,138$668,407$4,769,573
85$9,409,404$1,439,804$631,436$5,149,415
86$10,307,930$1,449,122$591,357$5,565,969
87$11,296,178$1,456,967$548,006$6,022,975
88$12,383,237$1,463,208$501,213$6,524,554
89$13,579,125$1,467,702$450,801$7,075,254
90$14,894,875$1,470,299$396,582$7,680,088
91$16,342,649$1,470,841$338,364$8,344,584
92$17,935,843$1,469,156$275,944$9,074,835
93$19,689,220$1,465,065$209,109$9,877,563
94$21,619,045$1,458,378$137,638$10,760,176
95$23,743,240$1,448,890$61,301$11,730,845
96$26,081,553$1,436,389$0$12,798,575
97$28,655,743$1,420,644$0$13,975,449
98$31,489,788$1,401,415$0$15,277,385
99$34,610,108$1,378,445$0$16,709,934
100$38,045,813$1,351,463$0$18,286,433