Can I retire at age 58 with 903,000?

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 $903,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$74,569$73,905$73,257$72,624$72,006$71,048
2 years$36,915$36,228$35,561$34,915$34,289$33,324
3 years$24,366$23,675$23,011$22,371$21,754$20,814
4 years$18,092$17,404$16,746$16,117$15,515$14,607
5 years$14,329$13,645$12,995$12,379$11,794$10,920
6 years$11,821$11,142$10,502$9,900$9,333$8,494
7 years$10,030$9,357$8,727$8,139$7,590$6,786
8 years$8,688$8,021$7,402$6,828$6,297$5,529
9 years$7,644$6,983$6,375$5,816$5,303$4,570
10 years$6,810$6,156$5,558$5,013$4,518$3,820
11 years$6,128$5,480$4,893$4,363$3,886$3,221
12 years$5,560$4,919$4,342$3,827$3,367$2,736
13 years$5,080$4,445$3,880$3,379$2,936$2,338
14 years$4,668$4,040$3,486$2,999$2,574$2,007
15 years$4,312$3,691$3,147$2,675$2,266$1,730
16 years$4,001$3,386$2,854$2,395$2,003$1,496
17 years$3,726$3,119$2,597$2,152$1,776$1,297
18 years$3,483$2,882$2,370$1,939$1,579$1,128
19 years$3,265$2,671$2,170$1,752$1,408$982
20 years$3,069$2,482$1,991$1,587$1,257$857
21 years$2,892$2,312$1,832$1,440$1,125$749
22 years$2,732$2,158$1,688$1,310$1,008$656
23 years$2,585$2,018$1,559$1,193$905$575
24 years$2,451$1,891$1,442$1,088$814$504
25 years$2,328$1,775$1,335$993$732$443
26 years$2,215$1,668$1,238$908$660$389
27 years$2,110$1,570$1,150$831$595$342
28 years$2,013$1,479$1,069$762$537$301
29 years$1,922$1,395$995$699$484$265
30 years$1,838$1,318$927$641$438$233
31 years$1,760$1,246$864$589$396$205
32 years$1,686$1,179$806$541$358$181
33 years$1,617$1,116$753$498$324$159
34 years$1,552$1,058$703$458$293$141
35 years$1,492$1,003$657$421$266$124
36 years$1,434$952$615$388$241$109
37 years$1,380$905$576$358$218$96
38 years$1,329$860$539$330$198$85
39 years$1,280$817$505$304$179$75
40 years$1,235$778$473$280$163$66
41 years$1,191$740$444$259$148$58
42 years$1,150$705$416$239$134$52
43 years$1,110$672$391$220$122$46
44 years$1,073$640$367$203$110$40
45 years$1,037$611$344$188$100$36
46 years$1,003$583$323$174$91$31
47 years$971$556$304$160$83$28
48 years$940$531$286$148$75$24
49 years$910$507$268$137$68$22
50 years$882$484$252$127$62$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $903,000, adding $6,242 every year, while hoping to spend $44,536 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: 67/18/15 Blend
57$903,000$903,000$903,000$903,000
58$1,001,545$953,686$939,689$1,064,702
59$1,056,316$953,030$923,783$1,106,976
60$1,115,182$950,850$905,851$1,147,370
61$1,178,512$947,023$885,779$1,190,421
62$1,246,714$941,421$863,446$1,236,388
63$1,320,234$933,906$838,726$1,285,554
64$1,399,563$924,333$811,489$1,338,235
65$1,485,241$912,548$781,597$1,394,778
66$1,577,861$898,387$748,905$1,455,569
67$1,678,072$881,678$713,263$1,521,031
68$1,786,593$862,237$674,514$1,591,635
69$1,904,209$839,871$632,494$1,667,901
70$2,031,786$814,373$587,031$1,750,401
71$2,170,277$785,526$537,945$1,839,771
72$2,320,729$753,100$485,050$1,936,710
73$2,484,292$716,851$428,148$2,041,994
74$2,662,235$676,521$367,036$2,156,476
75$2,855,951$631,839$301,500$2,281,103
76$3,066,975$582,516$231,316$2,416,919
77$3,296,994$528,246$156,253$2,565,075
78$3,547,866$468,709$76,066$2,726,845
79$3,821,636$403,564$0$2,903,637
80$4,120,556$332,452$0$3,098,524
81$4,447,102$254,991$0$3,324,792
82$4,804,003$170,782$0$3,572,191
83$5,194,262$79,401$0$3,842,858
84$5,621,185$0$0$4,139,150
85$6,088,413$0$0$4,467,548
86$6,599,955$0$0$4,844,365
87$7,160,226$0$0$5,257,133
88$7,774,087$0$0$5,709,441
89$8,446,893$0$0$6,205,241
90$9,184,541$0$0$6,748,885
91$9,993,525$0$0$7,345,169
92$10,880,998$0$0$7,999,372
93$11,854,839$0$0$8,717,311
94$12,923,728$0$0$9,505,393
95$14,097,224$0$0$10,370,676
96$15,385,857$0$0$11,320,932
97$16,801,229$0$0$12,364,727
98$18,356,118$0$0$13,511,495
99$20,064,602$0$0$14,771,628
100$21,942,191$0$0$16,156,577