Can I retire at age 58 with 902,000?

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 $902,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$74,486$73,823$73,176$72,544$71,927$70,359
2 years$36,874$36,188$35,522$34,877$34,251$32,680
3 years$24,339$23,649$22,985$22,346$21,730$20,204
4 years$18,072$17,385$16,727$16,099$15,498$14,029
5 years$14,313$13,630$12,981$12,366$11,781$10,374
6 years$11,808$11,130$10,491$9,889$9,322$7,977
7 years$10,019$9,347$8,718$8,130$7,581$6,299
8 years$8,678$8,012$7,393$6,820$6,290$5,070
9 years$7,636$6,976$6,368$5,809$5,297$4,138
10 years$6,803$6,149$5,552$5,008$4,513$3,415
11 years$6,121$5,474$4,888$4,358$3,881$2,842
12 years$5,554$4,913$4,338$3,823$3,364$2,382
13 years$5,074$4,440$3,875$3,375$2,933$2,007
14 years$4,663$4,036$3,482$2,996$2,571$1,698
15 years$4,307$3,687$3,144$2,672$2,264$1,443
16 years$3,996$3,383$2,850$2,392$2,001$1,229
17 years$3,722$3,115$2,594$2,149$1,774$1,050
18 years$3,479$2,879$2,368$1,937$1,577$899
19 years$3,261$2,668$2,168$1,750$1,406$771
20 years$3,066$2,479$1,989$1,585$1,256$663
21 years$2,889$2,309$1,830$1,439$1,124$570
22 years$2,729$2,156$1,686$1,308$1,007$491
23 years$2,582$2,016$1,557$1,191$904$423
24 years$2,448$1,889$1,440$1,087$813$365
25 years$2,325$1,773$1,334$992$731$315
26 years$2,212$1,666$1,237$907$659$272
27 years$2,107$1,568$1,149$830$594$236
28 years$2,010$1,477$1,068$761$536$204
29 years$1,920$1,394$994$698$484$176
30 years$1,836$1,316$926$640$437$152
31 years$1,758$1,244$863$588$395$132
32 years$1,684$1,177$805$541$358$114
33 years$1,615$1,115$752$497$324$99
34 years$1,551$1,057$702$457$293$86
35 years$1,490$1,002$657$421$265$74
36 years$1,433$951$614$388$240$64
37 years$1,379$904$575$357$218$56
38 years$1,327$859$538$329$198$48
39 years$1,279$817$504$304$179$42
40 years$1,233$777$473$280$163$36
41 years$1,190$740$443$258$147$31
42 years$1,148$704$416$238$134$27
43 years$1,109$671$390$220$121$24
44 years$1,072$640$366$203$110$21
45 years$1,036$610$344$188$100$18
46 years$1,002$582$323$173$91$15
47 years$970$555$304$160$82$13
48 years$939$530$285$148$75$12
49 years$909$506$268$137$68$10
50 years$881$484$252$126$62$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $902,000, adding $4,015 every year, while hoping to spend $39,183 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: 40/39/21 Blend
57$902,000$902,000$902,000$902,000
58$998,145$950,339$936,358$1,031,721
59$1,058,266$955,216$926,036$1,061,045
60$1,123,205$959,018$914,055$1,088,713
61$1,193,414$961,651$900,317$1,117,848
62$1,269,387$963,017$884,722$1,148,604
63$1,351,667$963,008$867,164$1,181,155
64$1,440,854$961,511$847,530$1,215,695
65$1,537,604$958,408$825,705$1,252,439
66$1,642,640$953,571$801,567$1,291,627
67$1,756,759$946,866$774,989$1,333,528
68$1,880,835$938,149$745,838$1,378,440
69$2,015,830$927,268$713,974$1,426,696
70$2,162,805$914,064$679,251$1,478,664
71$2,322,923$898,365$641,518$1,534,756
72$2,497,468$879,992$600,616$1,595,429
73$2,687,851$858,753$556,378$1,661,192
74$2,895,627$834,446$508,631$1,732,608
75$3,122,504$806,857$457,194$1,810,304
76$3,370,365$775,759$401,876$1,894,978
77$3,641,283$740,913$342,480$1,987,400
78$3,937,540$702,064$278,799$2,088,429
79$4,261,648$658,944$210,618$2,199,016
80$4,616,373$611,269$137,710$2,320,214
81$5,004,761$558,739$59,841$2,453,194
82$5,430,167$501,037$0$2,599,250
83$5,896,284$437,827$0$2,765,029
84$6,407,180$368,756$0$2,961,560
85$6,967,336$293,449$0$3,177,240
86$7,581,687$211,511$0$3,414,082
87$8,255,667$122,523$0$3,674,312
88$8,995,264$26,045$0$3,960,387
89$9,807,072$0$0$4,275,022
90$10,698,354$0$0$4,654,860
91$11,677,112$0$0$5,084,376
92$12,752,161$0$0$5,556,276
93$13,933,210$0$0$6,074,839
94$15,230,957$0$0$6,644,778
95$16,657,185$0$0$7,271,285
96$18,224,878$0$0$7,960,081
97$19,948,338$0$0$8,717,468
98$21,843,323$0$0$9,550,391
99$23,927,195$0$0$10,466,501
100$26,219,081$0$0$11,474,225