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%11.5%
1 years$75,312$74,641$73,987$73,348$72,724$72,266
2 years$37,283$36,589$35,916$35,263$34,631$34,168
3 years$24,609$23,911$23,240$22,594$21,971$21,519
4 years$18,273$17,577$16,913$16,277$15,670$15,232
5 years$14,472$13,781$13,125$12,503$11,912$11,489
6 years$11,939$11,253$10,607$9,998$9,426$9,018
7 years$10,130$9,450$8,814$8,220$7,666$7,274
8 years$8,775$8,101$7,475$6,896$6,359$5,984
9 years$7,721$7,053$6,438$5,874$5,355$4,995
10 years$6,878$6,217$5,613$5,063$4,563$4,219
11 years$6,189$5,535$4,942$4,406$3,924$3,595
12 years$5,615$4,968$4,386$3,865$3,401$3,087
13 years$5,130$4,489$3,918$3,412$2,966$2,666
14 years$4,715$4,081$3,521$3,029$2,600$2,315
15 years$4,355$3,728$3,179$2,701$2,289$2,018
16 years$4,041$3,420$2,882$2,419$2,023$1,766
17 years$3,763$3,150$2,622$2,173$1,794$1,550
18 years$3,517$2,911$2,394$1,959$1,595$1,364
19 years$3,297$2,697$2,192$1,770$1,422$1,203
20 years$3,100$2,507$2,011$1,603$1,270$1,063
21 years$2,921$2,335$1,850$1,455$1,136$941
22 years$2,759$2,179$1,705$1,323$1,019$834
23 years$2,611$2,038$1,574$1,205$914$740
24 years$2,476$1,910$1,456$1,099$822$658
25 years$2,351$1,792$1,349$1,003$739$585
26 years$2,237$1,684$1,251$917$666$521
27 years$2,131$1,585$1,161$840$601$464
28 years$2,033$1,494$1,080$769$542$414
29 years$1,941$1,409$1,005$705$489$369
30 years$1,856$1,331$936$647$442$330
31 years$1,777$1,258$872$595$400$295
32 years$1,703$1,190$814$547$362$263
33 years$1,633$1,127$760$503$327$235
34 years$1,568$1,068$710$462$296$210
35 years$1,506$1,013$664$426$268$188
36 years$1,448$962$621$392$243$168
37 years$1,394$914$581$361$220$151
38 years$1,342$868$544$333$200$135
39 years$1,293$826$510$307$181$121
40 years$1,247$785$478$283$164$108
41 years$1,203$748$448$261$149$97
42 years$1,161$712$420$241$135$87
43 years$1,121$678$395$223$123$78
44 years$1,084$647$370$205$111$70
45 years$1,048$617$348$190$101$62
46 years$1,013$588$327$175$92$56
47 years$980$561$307$162$83$50
48 years$949$536$288$150$76$45
49 years$919$512$271$138$69$40
50 years$890$489$255$128$62$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $912,000, adding $4,693 every year, while hoping to spend $42,254 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: 52/30/18 Blend
57$912,000$912,000$912,000$912,000
58$1,009,865$961,529$947,393$1,057,172
59$1,067,913$963,686$934,173$1,092,330
60$1,130,466$964,532$919,093$1,125,741
61$1,197,939$963,960$902,048$1,161,162
62$1,270,787$961,852$882,925$1,198,797
63$1,349,511$958,087$861,607$1,238,873
64$1,434,662$952,534$837,972$1,281,642
65$1,526,845$945,055$811,891$1,327,383
66$1,626,724$935,504$783,230$1,376,406
67$1,735,032$923,725$751,850$1,429,056
68$1,852,572$909,555$717,604$1,485,715
69$1,980,229$892,817$680,338$1,546,806
70$2,118,976$873,329$639,893$1,612,799
71$2,269,883$850,894$596,101$1,684,214
72$2,434,128$825,304$548,787$1,761,630
73$2,613,006$796,342$497,769$1,845,686
74$2,807,944$763,774$442,856$1,937,089
75$3,020,510$727,355$383,848$2,036,626
76$3,252,433$686,825$320,537$2,145,166
77$3,505,612$641,911$252,705$2,263,672
78$3,782,140$592,320$180,127$2,393,208
79$4,084,321$537,747$102,564$2,534,955
80$4,414,691$477,866$19,770$2,690,218
81$4,776,043$412,335$0$2,860,441
82$5,171,451$340,791$0$3,060,396
83$5,604,301$262,851$0$3,283,584
84$6,078,320$178,111$0$3,528,213
85$6,597,614$86,144$0$3,796,502
86$7,166,704$0$0$4,090,899
87$7,790,569$0$0$4,418,564
88$8,474,694$0$0$4,809,154
89$9,225,119$0$0$5,237,691
90$10,048,496$0$0$5,707,986
91$10,952,153$0$0$6,224,236
92$11,944,163$0$0$6,791,066
93$13,033,417$0$0$7,413,570
94$14,229,710$0$0$8,097,358
95$15,543,831$0$0$8,848,612
96$16,987,668$0$0$9,674,141
97$18,574,315$0$0$10,581,448
98$20,318,197$0$0$11,578,798
99$22,235,209$0$0$12,675,295
100$24,342,859$0$0$13,880,973