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%17.6%
1 years$74,486$73,823$73,176$72,544$71,927$69,708
2 years$36,874$36,188$35,522$34,877$34,251$32,035
3 years$24,339$23,649$22,985$22,346$21,730$19,587
4 years$18,072$17,385$16,727$16,099$15,498$13,443
5 years$14,313$13,630$12,981$12,366$11,781$9,821
6 years$11,808$11,130$10,491$9,889$9,322$7,458
7 years$10,019$9,347$8,718$8,130$7,581$5,813
8 years$8,678$8,012$7,393$6,820$6,290$4,616
9 years$7,636$6,976$6,368$5,809$5,297$3,716
10 years$6,803$6,149$5,552$5,008$4,513$3,022
11 years$6,121$5,474$4,888$4,358$3,881$2,479
12 years$5,554$4,913$4,338$3,823$3,364$2,046
13 years$5,074$4,440$3,875$3,375$2,933$1,697
14 years$4,663$4,036$3,482$2,996$2,571$1,414
15 years$4,307$3,687$3,144$2,672$2,264$1,182
16 years$3,996$3,383$2,850$2,392$2,001$991
17 years$3,722$3,115$2,594$2,149$1,774$832
18 years$3,479$2,879$2,368$1,937$1,577$701
19 years$3,261$2,668$2,168$1,750$1,406$591
20 years$3,066$2,479$1,989$1,585$1,256$499
21 years$2,889$2,309$1,830$1,439$1,124$422
22 years$2,729$2,156$1,686$1,308$1,007$357
23 years$2,582$2,016$1,557$1,191$904$302
24 years$2,448$1,889$1,440$1,087$813$256
25 years$2,325$1,773$1,334$992$731$217
26 years$2,212$1,666$1,237$907$659$184
27 years$2,107$1,568$1,149$830$594$156
28 years$2,010$1,477$1,068$761$536$132
29 years$1,920$1,394$994$698$484$112
30 years$1,836$1,316$926$640$437$95
31 years$1,758$1,244$863$588$395$81
32 years$1,684$1,177$805$541$358$69
33 years$1,615$1,115$752$497$324$59
34 years$1,551$1,057$702$457$293$50
35 years$1,490$1,002$657$421$265$42
36 years$1,433$951$614$388$240$36
37 years$1,379$904$575$357$218$31
38 years$1,327$859$538$329$198$26
39 years$1,279$817$504$304$179$22
40 years$1,233$777$473$280$163$19
41 years$1,190$740$443$258$147$16
42 years$1,148$704$416$238$134$14
43 years$1,109$671$390$220$121$12
44 years$1,072$640$366$203$110$10
45 years$1,036$610$344$188$100$8
46 years$1,002$582$323$173$91$7
47 years$970$555$304$160$82$6
48 years$939$530$285$148$75$5
49 years$909$506$268$137$68$4
50 years$881$484$252$126$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $902,000, adding $4,460 every year, while hoping to spend $33,947 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: 53/20/27 Blend
57$902,000$902,000$902,000$902,000
58$998,604$950,798$936,817$1,043,801
59$1,064,343$961,268$932,082$1,086,040
60$1,135,649$971,113$926,049$1,128,152
61$1,213,054$980,267$918,641$1,173,300
62$1,297,144$988,659$909,774$1,221,789
63$1,388,563$996,213$899,362$1,273,953
64$1,488,019$1,002,850$887,312$1,330,165
65$1,596,290$1,008,483$873,531$1,390,835
66$1,714,234$1,013,021$857,917$1,456,417
67$1,842,796$1,016,369$840,366$1,527,412
68$1,983,012$1,018,422$820,770$1,604,376
69$2,136,026$1,019,072$799,013$1,687,920
70$2,303,096$1,018,202$774,975$1,778,722
71$2,485,607$1,015,689$748,532$1,877,530
72$2,685,084$1,011,402$719,553$1,985,171
73$2,903,204$1,005,203$687,899$2,102,557
74$3,141,816$996,943$653,429$2,230,697
75$3,402,955$986,467$615,993$2,370,706
76$3,688,862$973,609$575,433$2,523,813
77$4,002,003$958,193$531,588$2,691,377
78$4,345,096$940,033$484,285$2,874,900
79$4,721,134$918,932$433,346$3,076,037
80$5,133,411$894,682$378,585$3,296,618
81$5,585,559$867,062$319,808$3,538,662
82$6,081,575$835,837$256,811$3,804,399
83$6,625,863$800,760$189,381$4,096,290
84$7,223,273$761,569$117,297$4,417,051
85$7,879,149$717,988$40,328$4,769,681
86$8,599,375$669,722$0$5,157,488
87$9,390,436$616,464$0$5,596,169
88$10,259,474$557,884$0$6,090,890
89$11,214,357$493,636$0$6,634,543
90$12,263,753$423,356$0$7,232,114
91$13,417,212$346,657$0$7,889,098
92$14,685,254$263,129$0$8,611,554
93$16,079,471$172,343$0$9,406,161
94$17,612,631$73,842$0$10,280,280
95$19,298,805$0$0$11,242,027
96$21,153,494$0$0$12,307,580
97$23,193,777$0$0$13,497,737
98$25,438,471$0$0$14,807,235
99$27,908,310$0$0$16,248,183
100$30,626,139$0$0$17,833,922