Can I retire at age 58 with 912,000?

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 $912,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$75,312$74,641$73,987$73,348$72,724$71,431
2 years$37,283$36,589$35,916$35,263$34,631$33,332
3 years$24,609$23,911$23,240$22,594$21,971$20,708
4 years$18,273$17,577$16,913$16,277$15,670$14,452
5 years$14,472$13,781$13,125$12,503$11,912$10,742
6 years$11,939$11,253$10,607$9,998$9,426$8,306
7 years$10,130$9,450$8,814$8,220$7,666$6,596
8 years$8,775$8,101$7,475$6,896$6,359$5,339
9 years$7,721$7,053$6,438$5,874$5,355$4,384
10 years$6,878$6,217$5,613$5,063$4,563$3,640
11 years$6,189$5,535$4,942$4,406$3,924$3,049
12 years$5,615$4,968$4,386$3,865$3,401$2,571
13 years$5,130$4,489$3,918$3,412$2,966$2,181
14 years$4,715$4,081$3,521$3,029$2,600$1,859
15 years$4,355$3,728$3,179$2,701$2,289$1,590
16 years$4,041$3,420$2,882$2,419$2,023$1,364
17 years$3,763$3,150$2,622$2,173$1,794$1,174
18 years$3,517$2,911$2,394$1,959$1,595$1,013
19 years$3,297$2,697$2,192$1,770$1,422$875
20 years$3,100$2,507$2,011$1,603$1,270$757
21 years$2,921$2,335$1,850$1,455$1,136$657
22 years$2,759$2,179$1,705$1,323$1,019$570
23 years$2,611$2,038$1,574$1,205$914$495
24 years$2,476$1,910$1,456$1,099$822$431
25 years$2,351$1,792$1,349$1,003$739$375
26 years$2,237$1,684$1,251$917$666$326
27 years$2,131$1,585$1,161$840$601$284
28 years$2,033$1,494$1,080$769$542$248
29 years$1,941$1,409$1,005$705$489$216
30 years$1,856$1,331$936$647$442$189
31 years$1,777$1,258$872$595$400$165
32 years$1,703$1,190$814$547$362$144
33 years$1,633$1,127$760$503$327$126
34 years$1,568$1,068$710$462$296$110
35 years$1,506$1,013$664$426$268$96
36 years$1,448$962$621$392$243$84
37 years$1,394$914$581$361$220$73
38 years$1,342$868$544$333$200$64
39 years$1,293$826$510$307$181$56
40 years$1,247$785$478$283$164$49
41 years$1,203$748$448$261$149$43
42 years$1,161$712$420$241$135$37
43 years$1,121$678$395$223$123$33
44 years$1,084$647$370$205$111$29
45 years$1,048$617$348$190$101$25
46 years$1,013$588$327$175$92$22
47 years$980$561$307$162$83$19
48 years$949$536$288$150$76$17
49 years$919$512$271$138$69$15
50 years$890$489$255$128$62$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $912,000, adding $5,163 every year, while hoping to spend $27,359 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: 66/11/23 Blend
57$912,000$912,000$912,000$912,000
58$1,010,350$962,014$947,878$1,070,741
59$1,084,296$980,043$950,522$1,130,002
60$1,164,867$998,038$952,338$1,191,185
61$1,252,711$1,015,969$953,268$1,257,442
62$1,348,539$1,033,803$953,255$1,329,273
63$1,453,136$1,051,505$952,234$1,407,229
64$1,567,363$1,069,036$950,141$1,491,917
65$1,692,170$1,086,356$946,908$1,584,008
66$1,828,604$1,103,419$942,461$1,684,240
67$1,977,814$1,120,180$936,726$1,793,426
68$2,141,069$1,136,586$929,624$1,912,464
69$2,319,763$1,152,584$921,072$2,042,342
70$2,515,434$1,168,116$910,983$2,184,152
71$2,729,774$1,183,119$899,266$2,339,096
72$2,964,646$1,197,527$885,827$2,508,497
73$3,222,102$1,211,268$870,564$2,693,819
74$3,504,404$1,224,267$853,375$2,896,670
75$3,814,040$1,236,443$834,150$3,118,827
76$4,153,753$1,247,710$812,775$3,362,247
77$4,526,563$1,257,975$789,131$3,629,089
78$4,935,797$1,267,141$763,091$3,921,730
79$5,385,120$1,275,102$734,527$4,242,793
80$5,878,569$1,281,749$703,300$4,595,170
81$6,420,591$1,286,963$669,269$4,982,047
82$7,016,085$1,290,618$632,283$5,406,938
83$7,670,449$1,292,581$592,187$5,873,715
84$8,389,627$1,292,710$548,818$6,386,649
85$9,180,170$1,290,854$502,005$6,950,445
86$10,049,295$1,286,853$451,569$7,570,292
87$11,004,952$1,280,538$397,326$8,251,908
88$12,055,901$1,271,728$339,080$9,001,598
89$13,211,793$1,260,233$276,629$9,826,311
90$14,483,261$1,245,849$209,761$10,733,708
91$15,882,020$1,228,363$138,255$11,732,231
92$17,420,979$1,207,545$61,880$12,831,189
93$19,114,360$1,183,156$0$14,040,840
94$20,977,834$1,154,940$0$15,377,310
95$23,028,667$1,122,626$0$16,864,766
96$25,285,885$1,085,928$0$18,501,810
97$27,770,450$1,044,543$0$20,303,654
98$30,505,460$998,151$0$22,287,061
99$33,516,369$946,411$0$24,470,501
100$36,831,219$888,966$0$26,874,331