Can I retire at age 58 with 901,000?

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 $901,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$74,404$73,741$73,094$72,463$71,847$70,483
2 years$36,834$36,148$35,483$34,838$34,213$32,844
3 years$24,312$23,623$22,960$22,321$21,706$20,375
4 years$18,052$17,365$16,709$16,081$15,481$14,198
5 years$14,297$13,615$12,967$12,352$11,768$10,537
6 years$11,795$11,117$10,479$9,878$9,312$8,133
7 years$10,008$9,336$8,708$8,121$7,573$6,448
8 years$8,669$8,003$7,385$6,813$6,283$5,211
9 years$7,628$6,968$6,361$5,803$5,291$4,271
10 years$6,795$6,142$5,546$5,002$4,508$3,540
11 years$6,114$5,468$4,882$4,353$3,877$2,959
12 years$5,548$4,908$4,333$3,818$3,360$2,491
13 years$5,068$4,435$3,871$3,371$2,930$2,109
14 years$4,658$4,031$3,478$2,993$2,568$1,793
15 years$4,302$3,683$3,140$2,669$2,261$1,531
16 years$3,992$3,379$2,847$2,390$1,999$1,311
17 years$3,718$3,112$2,591$2,147$1,772$1,126
18 years$3,475$2,875$2,365$1,935$1,576$969
19 years$3,258$2,665$2,165$1,748$1,404$835
20 years$3,062$2,476$1,987$1,583$1,254$721
21 years$2,886$2,307$1,828$1,437$1,123$624
22 years$2,726$2,153$1,685$1,307$1,006$540
23 years$2,579$2,014$1,555$1,190$903$468
24 years$2,446$1,887$1,438$1,085$812$406
25 years$2,323$1,771$1,332$991$731$353
26 years$2,210$1,664$1,236$906$658$306
27 years$2,105$1,566$1,147$830$593$266
28 years$2,008$1,476$1,067$760$535$232
29 years$1,918$1,392$993$697$483$202
30 years$1,834$1,315$925$640$437$175
31 years$1,756$1,243$862$587$395$153
32 years$1,682$1,176$804$540$357$133
33 years$1,614$1,114$751$496$323$116
34 years$1,549$1,056$702$457$293$101
35 years$1,488$1,001$656$421$265$88
36 years$1,431$950$614$387$240$77
37 years$1,377$903$574$357$218$67
38 years$1,326$858$538$329$197$58
39 years$1,278$816$504$303$179$51
40 years$1,232$776$472$280$162$44
41 years$1,188$739$443$258$147$39
42 years$1,147$704$415$238$134$34
43 years$1,108$670$390$220$121$29
44 years$1,071$639$366$203$110$26
45 years$1,035$609$344$187$100$22
46 years$1,001$581$323$173$91$20
47 years$969$555$303$160$82$17
48 years$938$530$285$148$75$15
49 years$908$506$268$137$68$13
50 years$880$483$252$126$62$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $901,000, adding $3,898 every year, while hoping to spend $31,409 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: 63/26/11 Blend
57$901,000$901,000$901,000$901,000
58$996,923$949,170$935,204$1,056,994
59$1,065,190$962,260$933,115$1,110,743
60$1,139,368$974,939$929,902$1,165,420
61$1,220,026$987,154$925,497$1,224,335
62$1,307,791$998,847$919,823$1,287,902
63$1,403,353$1,009,957$912,804$1,356,572
64$1,507,470$1,020,421$904,359$1,430,846
65$1,620,978$1,030,167$894,401$1,511,276
66$1,744,796$1,039,124$882,841$1,598,469
67$1,879,935$1,047,211$869,587$1,693,095
68$2,027,510$1,054,345$854,539$1,795,894
69$2,188,745$1,060,438$837,595$1,907,681
70$2,364,991$1,065,393$818,649$2,029,355
71$2,557,733$1,069,110$797,587$2,161,907
72$2,768,608$1,071,483$774,292$2,306,431
73$2,999,416$1,072,396$748,641$2,464,132
74$3,252,142$1,071,729$720,506$2,636,340
75$3,528,970$1,069,352$689,752$2,824,521
76$3,832,305$1,065,131$656,239$3,030,292
77$4,164,796$1,058,919$619,819$3,255,437
78$4,529,362$1,050,562$580,340$3,501,922
79$4,929,216$1,039,899$537,640$3,771,915
80$5,367,898$1,026,756$491,553$4,067,808
81$5,849,306$1,010,950$441,903$4,392,238
82$6,377,735$992,286$388,506$4,748,113
83$6,957,916$970,560$331,173$5,138,639
84$7,595,059$945,553$269,703$5,567,352
85$8,294,905$917,035$203,888$6,038,151
86$9,063,777$884,761$133,510$6,555,336
87$9,908,643$848,475$58,343$7,123,646
88$10,837,176$807,901$0$7,748,309
89$11,857,831$762,752$0$8,437,655
90$12,979,925$712,722$0$9,202,946
91$14,213,718$657,486$0$10,044,363
92$15,570,519$596,704$0$10,969,664
93$17,062,783$530,015$0$11,987,398
94$18,704,237$457,035$0$13,106,990
95$20,510,002$377,363$0$14,338,828
96$22,496,741$290,572$0$15,694,363
97$24,682,810$196,212$0$17,186,219
98$27,088,437$93,807$0$18,828,307
99$29,735,910$0$0$20,635,964
100$32,649,785$0$0$22,630,999