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%12.1%
1 years$74,899$74,232$73,581$72,946$72,325$71,690
2 years$37,079$36,388$35,719$35,070$34,441$33,800
3 years$24,474$23,780$23,113$22,470$21,851$21,225
4 years$18,172$17,481$16,820$16,188$15,584$14,978
5 years$14,393$13,705$13,053$12,434$11,847$11,262
6 years$11,873$11,191$10,549$9,944$9,374$8,812
7 years$10,075$9,398$8,766$8,175$7,624$7,084
8 years$8,726$8,056$7,434$6,858$6,324$5,807
9 years$7,678$7,014$6,403$5,841$5,326$4,831
10 years$6,840$6,183$5,582$5,035$4,538$4,065
11 years$6,155$5,504$4,915$4,382$3,903$3,452
12 years$5,584$4,940$4,362$3,844$3,382$2,953
13 years$5,102$4,465$3,897$3,394$2,949$2,541
14 years$4,689$4,058$3,501$3,012$2,585$2,197
15 years$4,331$3,707$3,161$2,687$2,276$1,908
16 years$4,018$3,401$2,866$2,406$2,012$1,662
17 years$3,743$3,132$2,608$2,161$1,784$1,453
18 years$3,498$2,895$2,381$1,948$1,586$1,273
19 years$3,279$2,683$2,180$1,760$1,414$1,118
20 years$3,083$2,493$2,000$1,594$1,263$983
21 years$2,905$2,322$1,840$1,447$1,130$867
22 years$2,744$2,167$1,696$1,315$1,013$765
23 years$2,597$2,027$1,566$1,198$909$676
24 years$2,462$1,899$1,448$1,093$817$598
25 years$2,338$1,782$1,341$998$735$529
26 years$2,224$1,675$1,244$912$662$469
27 years$2,119$1,577$1,155$835$597$416
28 years$2,022$1,486$1,074$765$539$369
29 years$1,931$1,401$999$702$487$328
30 years$1,846$1,324$931$644$440$291
31 years$1,767$1,251$868$591$398$259
32 years$1,694$1,184$810$544$360$230
33 years$1,624$1,121$756$500$325$205
34 years$1,559$1,063$706$460$295$182
35 years$1,498$1,008$660$423$267$162
36 years$1,441$957$618$390$242$144
37 years$1,386$909$578$359$219$129
38 years$1,335$863$541$331$199$115
39 years$1,286$821$507$305$180$102
40 years$1,240$781$475$282$163$91
41 years$1,196$744$446$260$148$81
42 years$1,155$708$418$240$135$72
43 years$1,115$675$392$221$122$64
44 years$1,078$643$368$204$111$57
45 years$1,042$613$346$189$101$51
46 years$1,008$585$325$174$91$46
47 years$975$558$305$161$83$41
48 years$944$533$287$149$75$36
49 years$914$509$270$138$68$32
50 years$886$486$253$127$62$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $907,000, adding $3,812 every year, while hoping to spend $54,597 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: 33/42/25 Blend
57$907,000$907,000$907,000$907,000
58$1,003,446$955,375$941,317$1,028,799
59$1,047,707$944,098$914,760$1,036,948
60$1,094,652$930,438$885,484$1,040,552
61$1,144,499$914,221$853,339$1,043,348
62$1,197,482$895,263$818,171$1,045,298
63$1,253,862$873,367$779,816$1,046,371
64$1,313,921$848,327$738,105$1,046,532
65$1,377,969$819,924$692,860$1,045,753
66$1,446,346$787,924$643,895$1,044,008
67$1,519,424$752,083$591,016$1,041,272
68$1,597,611$712,141$534,021$1,037,528
69$1,681,354$667,822$472,697$1,032,763
70$1,771,143$618,836$406,823$1,026,970
71$1,867,517$564,877$336,169$1,020,150
72$1,971,067$505,618$260,493$1,012,312
73$2,082,439$440,717$179,544$1,003,476
74$2,202,347$369,812$93,058$993,673
75$2,331,572$292,518$761$982,948
76$2,470,972$208,431$0$971,361
77$2,621,491$117,124$0$985,060
78$2,784,165$18,144$0$999,984
79$2,960,132$0$0$1,016,132
80$3,150,646$0$0$1,074,863
81$3,357,083$0$0$1,147,703
82$3,580,956$0$0$1,226,813
83$3,823,930$0$0$1,312,796
84$4,087,835$0$0$1,406,317
85$4,374,685$0$0$1,508,105
86$4,686,696$0$0$1,618,962
87$5,026,304$0$0$1,739,774
88$5,396,191$0$0$1,871,512
89$5,799,309$0$0$2,015,248
90$6,238,905$0$0$2,172,159
91$6,718,554$0$0$2,343,543
92$7,242,191$0$0$2,530,827
93$7,814,146$0$0$2,735,584
94$8,439,188$0$0$2,959,544
95$9,122,566$0$0$3,204,614
96$9,870,061$0$0$3,472,891
97$10,688,034$0$0$3,766,687
98$11,583,495$0$0$4,088,547
99$12,564,160$0$0$4,441,272
100$13,638,525$0$0$4,827,950