Can I retire at age 58 with 914,000?

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 $914,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$75,477$74,805$74,149$73,509$72,884$71,180
2 years$37,365$36,669$35,995$35,341$34,706$32,999
3 years$24,663$23,964$23,291$22,643$22,019$20,362
4 years$18,313$17,616$16,950$16,313$15,704$14,110
5 years$14,504$13,811$13,154$12,530$11,938$10,412
6 years$11,965$11,278$10,630$10,020$9,446$7,989
7 years$10,153$9,471$8,834$8,238$7,682$6,294
8 years$8,794$8,118$7,492$6,911$6,373$5,054
9 years$7,738$7,069$6,453$5,887$5,367$4,116
10 years$6,893$6,231$5,626$5,074$4,573$3,388
11 years$6,203$5,547$4,953$4,416$3,933$2,812
12 years$5,628$4,978$4,395$3,874$3,408$2,350
13 years$5,141$4,499$3,927$3,420$2,972$1,975
14 years$4,725$4,090$3,528$3,036$2,605$1,667
15 years$4,365$3,736$3,186$2,707$2,294$1,412
16 years$4,049$3,428$2,888$2,424$2,027$1,200
17 years$3,772$3,157$2,628$2,178$1,798$1,022
18 years$3,525$2,917$2,399$1,963$1,598$873
19 years$3,305$2,703$2,196$1,774$1,425$746
20 years$3,106$2,512$2,016$1,606$1,273$639
21 years$2,927$2,340$1,854$1,458$1,139$548
22 years$2,765$2,184$1,709$1,326$1,021$471
23 years$2,617$2,043$1,578$1,207$916$405
24 years$2,481$1,914$1,459$1,101$824$348
25 years$2,356$1,796$1,351$1,006$741$300
26 years$2,242$1,688$1,253$919$668$258
27 years$2,135$1,589$1,164$842$602$222
28 years$2,037$1,497$1,082$771$543$192
29 years$1,946$1,412$1,007$707$490$165
30 years$1,861$1,334$938$649$443$142
31 years$1,781$1,261$874$596$401$123
32 years$1,707$1,193$816$548$362$106
33 years$1,637$1,130$762$504$328$92
34 years$1,571$1,071$712$463$297$79
35 years$1,510$1,016$665$427$269$68
36 years$1,452$964$622$393$244$59
37 years$1,397$916$583$362$221$51
38 years$1,345$870$546$334$200$44
39 years$1,296$827$511$308$182$38
40 years$1,250$787$479$284$165$33
41 years$1,206$749$449$262$149$28
42 years$1,164$714$421$242$136$25
43 years$1,124$680$395$223$123$21
44 years$1,086$648$371$206$112$18
45 years$1,050$618$349$190$101$16
46 years$1,015$590$327$176$92$14
47 years$983$563$308$162$84$12
48 years$951$537$289$150$76$10
49 years$921$513$272$139$69$9
50 years$892$490$255$128$63$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $914,000, adding $4,885 every year, while hoping to spend $21,928 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: 80/12/8 Blend
57$914,000$914,000$914,000$914,000
58$1,012,267$963,825$949,658$1,091,804
59$1,092,187$987,721$958,140$1,168,529
60$1,179,524$1,012,053$966,172$1,249,318
61$1,275,011$1,036,820$973,714$1,337,309
62$1,379,456$1,062,018$980,727$1,433,210
63$1,493,748$1,087,644$987,169$1,537,801
64$1,618,865$1,113,693$992,994$1,651,940
65$1,755,886$1,140,161$998,157$1,776,574
66$1,905,998$1,167,041$1,002,607$1,912,744
67$2,070,509$1,194,325$1,006,293$2,061,598
68$2,250,857$1,222,003$1,009,160$2,224,400
69$2,448,630$1,250,067$1,011,152$2,402,541
70$2,665,573$1,278,503$1,012,209$2,597,556
71$2,903,611$1,307,299$1,012,267$2,811,133
72$3,164,862$1,336,439$1,011,261$3,045,133
73$3,451,661$1,365,908$1,009,121$3,301,607
74$3,766,579$1,395,686$1,005,775$3,582,812
75$4,112,449$1,425,753$1,001,147$3,891,238
76$4,492,390$1,456,086$995,157$4,229,626
77$4,909,839$1,486,660$987,720$4,600,996
78$5,368,585$1,517,448$978,751$5,008,676
79$5,872,797$1,548,420$968,155$5,456,331
80$6,427,072$1,579,542$955,839$5,948,003
81$7,036,474$1,610,780$941,700$6,488,142
82$7,706,581$1,642,095$925,633$7,081,653
83$8,443,539$1,673,445$907,529$7,733,940
84$9,254,120$1,704,783$887,271$8,450,957
85$10,145,784$1,736,061$864,738$9,239,266
86$11,126,752$1,767,226$839,805$10,106,098
87$12,206,080$1,798,220$812,338$11,059,417
88$13,393,749$1,828,981$782,200$12,108,004
89$14,700,753$1,859,443$749,245$13,261,532
90$16,139,208$1,889,534$713,323$14,530,660
91$17,722,464$1,919,177$674,276$15,927,134
92$19,465,228$1,948,291$631,938$17,463,899
93$21,383,710$1,976,785$586,136$19,155,216
94$23,495,767$2,004,566$536,690$21,016,805
95$25,821,078$2,031,533$483,412$23,065,985
96$28,381,326$2,057,576$426,104$25,321,842
97$31,200,404$2,082,580$364,561$27,805,409
98$34,304,640$2,106,421$298,568$30,539,863
99$37,723,044$2,128,966$227,901$33,550,746
100$41,487,584$2,150,075$152,326$36,866,202