Can I retire at age 58 with 904,000?

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 $904,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$74,651$73,987$73,338$72,705$72,086$71,722
2 years$36,956$36,268$35,601$34,954$34,327$33,959
3 years$24,393$23,701$23,036$22,395$21,778$21,419
4 years$18,112$17,423$16,764$16,135$15,532$15,184
5 years$14,345$13,660$13,010$12,393$11,808$11,471
6 years$11,834$11,154$10,514$9,911$9,343$9,018
7 years$10,042$9,367$8,737$8,148$7,598$7,286
8 years$8,698$8,030$7,410$6,835$6,304$6,004
9 years$7,653$6,991$6,382$5,822$5,308$5,021
10 years$6,818$6,162$5,564$5,019$4,523$4,248
11 years$6,135$5,486$4,898$4,368$3,890$3,627
12 years$5,566$4,924$4,347$3,831$3,371$3,120
13 years$5,085$4,450$3,884$3,382$2,940$2,700
14 years$4,673$4,045$3,490$3,002$2,577$2,348
15 years$4,317$3,695$3,151$2,678$2,269$2,052
16 years$4,005$3,390$2,857$2,398$2,005$1,799
17 years$3,730$3,122$2,599$2,154$1,778$1,582
18 years$3,486$2,885$2,373$1,941$1,581$1,395
19 years$3,268$2,674$2,172$1,754$1,409$1,233
20 years$3,072$2,485$1,994$1,589$1,259$1,092
21 years$2,895$2,314$1,834$1,442$1,126$969
22 years$2,735$2,160$1,690$1,311$1,010$861
23 years$2,588$2,021$1,561$1,194$906$766
24 years$2,454$1,893$1,443$1,089$815$682
25 years$2,331$1,777$1,337$995$733$608
26 years$2,217$1,670$1,240$909$660$543
27 years$2,112$1,571$1,151$832$595$485
28 years$2,015$1,481$1,070$763$537$433
29 years$1,924$1,397$996$699$485$388
30 years$1,840$1,319$928$642$438$347
31 years$1,762$1,247$865$589$396$311
32 years$1,688$1,180$807$542$358$278
33 years$1,619$1,117$753$498$324$249
34 years$1,554$1,059$704$458$294$223
35 years$1,493$1,005$658$422$266$200
36 years$1,436$953$616$389$241$180
37 years$1,382$906$576$358$218$161
38 years$1,330$861$540$330$198$145
39 years$1,282$818$506$304$180$130
40 years$1,236$779$474$281$163$117
41 years$1,192$741$444$259$148$105
42 years$1,151$706$417$239$134$94
43 years$1,112$673$391$221$122$85
44 years$1,074$641$367$204$110$76
45 years$1,038$611$345$188$100$68
46 years$1,004$583$324$174$91$61
47 years$972$557$304$161$83$55
48 years$941$531$286$148$75$49
49 years$911$507$269$137$68$44
50 years$883$485$253$127$62$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $904,000, adding $4,567 every year, while hoping to spend $27,347 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: 69/7/24 Blend
57$904,000$904,000$904,000$904,000
58$1,000,919$953,007$938,995$1,063,581
59$1,073,916$970,607$941,354$1,123,731
60$1,153,441$988,153$942,876$1,185,941
61$1,240,133$1,005,614$943,503$1,253,375
62$1,334,693$1,022,955$943,177$1,326,549
63$1,437,891$1,040,140$941,833$1,406,030
64$1,550,579$1,057,129$939,407$1,492,445
65$1,673,690$1,073,880$935,829$1,586,487
66$1,808,254$1,090,348$931,027$1,688,915
67$1,955,405$1,106,484$924,925$1,800,571
68$2,116,391$1,122,236$917,445$1,922,379
69$2,292,586$1,137,549$908,502$2,055,359
70$2,485,502$1,152,362$898,010$2,200,636
71$2,696,807$1,166,611$885,877$2,359,451
72$2,928,336$1,180,229$872,008$2,533,169
73$3,182,108$1,193,143$856,303$2,723,298
74$3,460,351$1,205,274$838,656$2,931,497
75$3,765,514$1,216,541$818,959$3,159,599
76$4,100,299$1,226,854$797,097$3,409,620
77$4,467,680$1,236,119$772,949$3,683,787
78$4,870,931$1,244,237$746,391$3,984,551
79$5,313,661$1,251,100$717,290$4,314,615
80$5,799,846$1,256,595$685,511$4,676,961
81$6,333,864$1,260,601$650,909$5,074,872
82$6,920,538$1,262,991$613,334$5,511,971
83$7,565,182$1,263,627$572,630$5,992,250
84$8,273,651$1,262,365$528,634$6,520,107
85$9,052,393$1,259,051$481,173$7,100,395
86$9,908,514$1,253,521$430,069$7,738,458
87$10,849,842$1,245,603$375,136$8,440,192
88$11,885,001$1,235,113$316,178$9,212,091
89$13,023,494$1,221,856$252,993$10,061,316
90$14,275,788$1,205,625$185,366$10,995,760
91$15,653,420$1,186,202$113,077$12,024,123
92$17,169,097$1,163,354$35,893$13,155,994
93$18,836,823$1,136,836$0$14,401,942
94$20,672,025$1,106,388$0$15,785,519
95$22,691,705$1,071,734$0$17,318,247
96$24,914,593$1,032,583$0$19,005,146
97$27,361,327$988,626$0$20,861,887
98$30,054,650$939,536$0$22,905,736
99$33,019,620$884,969$0$25,155,723
100$36,283,848$824,559$0$27,632,813