Can I retire at age 58 with 907,000?

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 $907,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$74,899$74,232$73,581$72,946$72,325$72,021
2 years$37,079$36,388$35,719$35,070$34,441$34,133
3 years$24,474$23,780$23,113$22,470$21,851$21,550
4 years$18,172$17,481$16,820$16,188$15,584$15,292
5 years$14,393$13,705$13,053$12,434$11,847$11,564
6 years$11,873$11,191$10,549$9,944$9,374$9,102
7 years$10,075$9,398$8,766$8,175$7,624$7,362
8 years$8,726$8,056$7,434$6,858$6,324$6,073
9 years$7,678$7,014$6,403$5,841$5,326$5,085
10 years$6,840$6,183$5,582$5,035$4,538$4,307
11 years$6,155$5,504$4,915$4,382$3,903$3,682
12 years$5,584$4,940$4,362$3,844$3,382$3,171
13 years$5,102$4,465$3,897$3,394$2,949$2,748
14 years$4,689$4,058$3,501$3,012$2,585$2,393
15 years$4,331$3,707$3,161$2,687$2,276$2,093
16 years$4,018$3,401$2,866$2,406$2,012$1,838
17 years$3,743$3,132$2,608$2,161$1,784$1,618
18 years$3,498$2,895$2,381$1,948$1,586$1,429
19 years$3,279$2,683$2,180$1,760$1,414$1,265
20 years$3,083$2,493$2,000$1,594$1,263$1,122
21 years$2,905$2,322$1,840$1,447$1,130$997
22 years$2,744$2,167$1,696$1,315$1,013$887
23 years$2,597$2,027$1,566$1,198$909$790
24 years$2,462$1,899$1,448$1,093$817$705
25 years$2,338$1,782$1,341$998$735$629
26 years$2,224$1,675$1,244$912$662$563
27 years$2,119$1,577$1,155$835$597$503
28 years$2,022$1,486$1,074$765$539$451
29 years$1,931$1,401$999$702$487$404
30 years$1,846$1,324$931$644$440$362
31 years$1,767$1,251$868$591$398$325
32 years$1,694$1,184$810$544$360$291
33 years$1,624$1,121$756$500$325$261
34 years$1,559$1,063$706$460$295$235
35 years$1,498$1,008$660$423$267$211
36 years$1,441$957$618$390$242$189
37 years$1,386$909$578$359$219$170
38 years$1,335$863$541$331$199$153
39 years$1,286$821$507$305$180$138
40 years$1,240$781$475$282$163$124
41 years$1,196$744$446$260$148$111
42 years$1,155$708$418$240$135$100
43 years$1,115$675$392$221$122$90
44 years$1,078$643$368$204$111$81
45 years$1,042$613$346$189$101$73
46 years$1,008$585$325$174$91$66
47 years$975$558$305$161$83$59
48 years$944$533$287$149$75$53
49 years$914$509$270$138$68$48
50 years$886$486$253$127$62$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $907,000, adding $4,674 every year, while hoping to spend $54,185 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: 71/23/6 Blend
57$907,000$907,000$907,000$907,000
58$1,004,335$956,264$942,206$1,074,543
59$1,049,125$945,469$916,117$1,110,719
60$1,096,667$932,328$887,339$1,143,118
61$1,147,186$916,671$855,723$1,177,066
62$1,200,925$898,313$821,115$1,212,703
63$1,258,152$877,064$783,356$1,250,182
64$1,319,160$852,717$742,275$1,289,670
65$1,384,271$825,056$697,698$1,331,358
66$1,453,835$793,853$649,439$1,375,453
67$1,528,239$758,864$597,308$1,422,187
68$1,607,904$719,833$541,103$1,471,816
69$1,693,295$676,489$480,614$1,524,624
70$1,784,918$628,545$415,622$1,580,927
71$1,883,334$575,697$345,899$1,641,074
72$1,989,152$517,625$271,205$1,705,451
73$2,103,046$453,989$191,291$1,774,489
74$2,225,754$384,432$105,897$1,848,661
75$2,358,086$308,574$14,749$1,928,494
76$2,500,934$226,017$0$2,014,571
77$2,655,275$136,338$0$2,112,821
78$2,822,185$39,090$0$2,220,027
79$3,002,846$0$0$2,336,055
80$3,198,557$0$0$2,478,555
81$3,410,748$0$0$2,643,820
82$3,640,990$0$0$2,823,184
83$3,891,010$0$0$3,017,998
84$4,162,709$0$0$3,229,749
85$4,458,178$0$0$3,460,072
86$4,779,717$0$0$3,710,766
87$5,129,858$0$0$3,983,810
88$5,511,386$0$0$4,281,383
89$5,927,365$0$0$4,605,882
90$6,381,169$0$0$4,959,946
91$6,876,511$0$0$5,346,478
92$7,417,479$0$0$5,768,677
93$8,008,572$0$0$6,230,060
94$8,654,744$0$0$6,734,503
95$9,361,448$0$0$7,286,273
96$10,134,689$0$0$7,890,065
97$10,981,080$0$0$8,551,053
98$11,907,901$0$0$9,274,933
99$12,923,170$0$0$10,067,975
100$14,035,718$0$0$10,937,089