Can I retire at age 58 with 908,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%19.6%
1 years$74,982$74,314$73,662$73,026$72,405$69,615
2 years$37,120$36,428$35,758$35,109$34,479$31,701
3 years$24,501$23,806$23,138$22,495$21,875$19,197
4 years$18,192$17,500$16,839$16,206$15,601$13,043
5 years$14,408$13,720$13,067$12,448$11,860$9,429
6 years$11,887$11,204$10,560$9,955$9,384$7,082
7 years$10,086$9,409$8,776$8,184$7,632$5,457
8 years$8,736$8,065$7,443$6,866$6,331$4,282
9 years$7,687$7,022$6,410$5,848$5,332$3,405
10 years$6,848$6,190$5,589$5,041$4,543$2,735
11 years$6,162$5,510$4,920$4,387$3,907$2,214
12 years$5,591$4,946$4,366$3,848$3,386$1,803
13 years$5,108$4,470$3,901$3,397$2,953$1,476
14 years$4,694$4,063$3,505$3,016$2,588$1,213
15 years$4,336$3,711$3,165$2,690$2,279$999
16 years$4,023$3,405$2,869$2,408$2,014$826
17 years$3,747$3,136$2,611$2,164$1,786$684
18 years$3,502$2,898$2,383$1,950$1,588$567
19 years$3,283$2,686$2,182$1,762$1,415$471
20 years$3,086$2,496$2,002$1,596$1,264$391
21 years$2,908$2,325$1,842$1,448$1,131$326
22 years$2,747$2,170$1,698$1,317$1,014$271
23 years$2,599$2,029$1,567$1,199$910$226
24 years$2,465$1,901$1,450$1,094$818$189
25 years$2,341$1,784$1,343$999$736$157
26 years$2,227$1,677$1,245$913$663$131
27 years$2,121$1,578$1,156$836$598$110
28 years$2,024$1,487$1,075$766$539$91
29 years$1,933$1,403$1,000$702$487$76
30 years$1,848$1,325$932$645$440$64
31 years$1,769$1,253$869$592$398$53
32 years$1,695$1,185$810$544$360$45
33 years$1,626$1,122$757$500$326$37
34 years$1,561$1,064$707$460$295$31
35 years$1,500$1,009$661$424$267$26
36 years$1,442$958$618$390$242$22
37 years$1,388$910$579$360$219$18
38 years$1,336$864$542$331$199$15
39 years$1,288$822$508$306$180$13
40 years$1,241$782$476$282$164$11
41 years$1,198$744$446$260$148$9
42 years$1,156$709$419$240$135$7
43 years$1,116$676$393$222$122$6
44 years$1,079$644$369$205$111$5
45 years$1,043$614$346$189$101$4
46 years$1,009$586$325$175$91$4
47 years$976$559$306$161$83$3
48 years$945$534$287$149$75$3
49 years$915$510$270$138$68$2
50 years$887$487$254$127$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $908,000, adding $4,037 every year, while hoping to spend $59,985 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: 28/44/28 Blend
57$908,000$908,000$908,000$908,000
58$1,004,780$956,656$942,582$1,024,106
59$1,043,444$939,709$910,335$1,022,927
60$1,084,041$919,920$874,997$1,016,214
61$1,126,706$897,089$836,402$1,007,795
62$1,171,583$870,999$794,375$997,566
63$1,218,831$841,425$748,733$985,418
64$1,268,623$808,125$699,286$971,238
65$1,321,145$770,846$645,835$954,910
66$1,376,603$729,319$588,172$936,313
67$1,435,220$683,259$526,079$915,320
68$1,497,239$632,366$459,329$891,804
69$1,562,927$576,321$387,686$865,630
70$1,632,573$514,788$310,901$836,663
71$1,706,495$447,413$228,716$804,760
72$1,785,041$373,819$140,861$769,778
73$1,868,589$293,610$47,054$731,569
74$1,957,556$206,368$0$689,984
75$2,052,396$111,649$0$660,721
76$2,153,607$8,987$0$643,807
77$2,261,736$0$0$625,110
78$2,377,380$0$0$654,012
79$2,501,196$0$0$689,711
80$2,633,903$0$0$728,074
81$2,776,290$0$0$769,343
82$2,929,223$0$0$813,782
83$3,093,652$0$0$861,681
84$3,270,621$0$0$913,361
85$3,461,276$0$0$969,171
86$3,666,874$0$0$1,029,496
87$3,888,798$0$0$1,094,762
88$4,128,568$0$0$1,165,432
89$4,387,852$0$0$1,242,020
90$4,668,486$0$0$1,325,088
91$4,972,486$0$0$1,415,254
92$5,302,070$0$0$1,513,201
93$5,659,677$0$0$1,619,675
94$6,047,989$0$0$1,735,503
95$6,469,957$0$0$1,861,589
96$6,928,824$0$0$1,998,932
97$7,428,163$0$0$2,148,628
98$7,971,901$0$0$2,311,887
99$8,564,361$0$0$2,490,037
100$9,210,301$0$0$2,684,542