Can I retire at age 58 with 908,000?

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 $908,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$74,982$74,314$73,662$73,026$72,405$69,920
2 years$37,120$36,428$35,758$35,109$34,479$32,000
3 years$24,501$23,806$23,138$22,495$21,875$19,480
4 years$18,192$17,500$16,839$16,206$15,601$13,310
5 years$14,408$13,720$13,067$12,448$11,860$9,677
6 years$11,887$11,204$10,560$9,955$9,384$7,312
7 years$10,086$9,409$8,776$8,184$7,632$5,670
8 years$8,736$8,065$7,443$6,866$6,331$4,479
9 years$7,687$7,022$6,410$5,848$5,332$3,586
10 years$6,848$6,190$5,589$5,041$4,543$2,900
11 years$6,162$5,510$4,920$4,387$3,907$2,365
12 years$5,591$4,946$4,366$3,848$3,386$1,940
13 years$5,108$4,470$3,901$3,397$2,953$1,600
14 years$4,694$4,063$3,505$3,016$2,588$1,324
15 years$4,336$3,711$3,165$2,690$2,279$1,100
16 years$4,023$3,405$2,869$2,408$2,014$916
17 years$3,747$3,136$2,611$2,164$1,786$765
18 years$3,502$2,898$2,383$1,950$1,588$639
19 years$3,283$2,686$2,182$1,762$1,415$535
20 years$3,086$2,496$2,002$1,596$1,264$449
21 years$2,908$2,325$1,842$1,448$1,131$377
22 years$2,747$2,170$1,698$1,317$1,014$317
23 years$2,599$2,029$1,567$1,199$910$266
24 years$2,465$1,901$1,450$1,094$818$224
25 years$2,341$1,784$1,343$999$736$188
26 years$2,227$1,677$1,245$913$663$159
27 years$2,121$1,578$1,156$836$598$134
28 years$2,024$1,487$1,075$766$539$113
29 years$1,933$1,403$1,000$702$487$95
30 years$1,848$1,325$932$645$440$80
31 years$1,769$1,253$869$592$398$67
32 years$1,695$1,185$810$544$360$57
33 years$1,626$1,122$757$500$326$48
34 years$1,561$1,064$707$460$295$40
35 years$1,500$1,009$661$424$267$34
36 years$1,442$958$618$390$242$29
37 years$1,388$910$579$360$219$24
38 years$1,336$864$542$331$199$20
39 years$1,288$822$508$306$180$17
40 years$1,241$782$476$282$164$15
41 years$1,198$744$446$260$148$12
42 years$1,156$709$419$240$135$10
43 years$1,116$676$393$222$122$9
44 years$1,079$644$369$205$111$7
45 years$1,043$614$346$189$101$6
46 years$1,009$586$325$175$91$5
47 years$976$559$306$161$83$4
48 years$945$534$287$149$75$4
49 years$915$510$270$138$68$3
50 years$887$487$254$127$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $908,000, adding $3,770 every year, while hoping to spend $21,586 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: 44/30/26 Blend
57$908,000$908,000$908,000$908,000
58$1,004,505$956,381$942,307$1,040,979
59$1,083,997$980,276$950,907$1,091,188
60$1,170,874$1,004,619$959,071$1,143,217
61$1,265,866$1,029,408$966,763$1,199,195
62$1,369,777$1,054,642$973,943$1,259,503
63$1,483,494$1,080,319$980,569$1,324,557
64$1,607,990$1,106,435$986,598$1,394,818
65$1,744,341$1,132,985$991,985$1,470,792
66$1,893,727$1,159,965$996,680$1,553,038
67$2,057,452$1,187,369$1,000,634$1,642,173
68$2,236,950$1,215,187$1,003,793$1,738,874
69$2,433,800$1,243,413$1,006,101$1,843,891
70$2,649,743$1,272,035$1,007,500$1,958,048
71$2,886,694$1,301,042$1,007,929$2,082,254
72$3,146,764$1,330,420$1,007,322$2,217,511
73$3,432,279$1,360,156$1,005,612$2,364,924
74$3,745,799$1,390,231$1,002,728$2,525,710
75$4,090,147$1,420,629$998,595$2,701,211
76$4,468,429$1,451,327$993,136$2,892,908
77$4,884,071$1,482,304$986,268$3,102,431
78$5,340,844$1,513,535$977,905$3,331,578
79$5,842,903$1,544,991$967,958$3,582,332
80$6,394,828$1,576,644$956,333$3,856,878
81$7,001,661$1,608,460$942,931$4,157,626
82$7,668,959$1,640,404$927,648$4,487,229
83$8,402,846$1,672,436$910,377$4,848,616
84$9,210,066$1,704,515$891,004$5,245,015
85$10,098,051$1,736,595$869,412$5,679,982
86$11,074,991$1,768,627$845,476$6,157,440
87$12,149,907$1,800,557$819,066$6,681,711
88$13,332,740$1,832,327$790,048$7,257,562
89$14,634,444$1,863,875$758,279$7,890,245
90$16,067,088$1,895,135$723,611$8,585,552
91$17,643,969$1,926,035$685,890$9,349,868
92$19,379,740$1,956,497$644,954$10,190,228
93$21,290,546$1,986,438$600,633$11,114,390
94$23,394,178$2,015,769$552,750$12,130,905
95$25,710,238$2,044,396$501,121$13,249,198
96$28,260,326$2,072,216$445,553$14,479,659
97$31,068,245$2,099,120$385,844$15,833,741
98$34,160,220$2,124,991$321,784$17,324,066
99$37,565,152$2,149,704$253,153$18,964,550
100$41,314,885$2,173,128$179,721$20,770,531