Can I retire at age 58 with 914,000?

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 $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%12.7%
1 years$75,477$74,805$74,149$73,509$72,884$72,063
2 years$37,365$36,669$35,995$35,341$34,706$33,880
3 years$24,663$23,964$23,291$22,643$22,019$21,213
4 years$18,313$17,616$16,950$16,313$15,704$14,924
5 years$14,504$13,811$13,154$12,530$11,938$11,187
6 years$11,965$11,278$10,630$10,020$9,446$8,724
7 years$10,153$9,471$8,834$8,238$7,682$6,990
8 years$8,794$8,118$7,492$6,911$6,373$5,711
9 years$7,738$7,069$6,453$5,887$5,367$4,735
10 years$6,893$6,231$5,626$5,074$4,573$3,970
11 years$6,203$5,547$4,953$4,416$3,933$3,358
12 years$5,628$4,978$4,395$3,874$3,408$2,861
13 years$5,141$4,499$3,927$3,420$2,972$2,453
14 years$4,725$4,090$3,528$3,036$2,605$2,112
15 years$4,365$3,736$3,186$2,707$2,294$1,827
16 years$4,049$3,428$2,888$2,424$2,027$1,585
17 years$3,772$3,157$2,628$2,178$1,798$1,380
18 years$3,525$2,917$2,399$1,963$1,598$1,204
19 years$3,305$2,703$2,196$1,774$1,425$1,053
20 years$3,106$2,512$2,016$1,606$1,273$922
21 years$2,927$2,340$1,854$1,458$1,139$809
22 years$2,765$2,184$1,709$1,326$1,021$711
23 years$2,617$2,043$1,578$1,207$916$625
24 years$2,481$1,914$1,459$1,101$824$550
25 years$2,356$1,796$1,351$1,006$741$485
26 years$2,242$1,688$1,253$919$668$428
27 years$2,135$1,589$1,164$842$602$378
28 years$2,037$1,497$1,082$771$543$334
29 years$1,946$1,412$1,007$707$490$295
30 years$1,861$1,334$938$649$443$261
31 years$1,781$1,261$874$596$401$231
32 years$1,707$1,193$816$548$362$204
33 years$1,637$1,130$762$504$328$181
34 years$1,571$1,071$712$463$297$160
35 years$1,510$1,016$665$427$269$142
36 years$1,452$964$622$393$244$125
37 years$1,397$916$583$362$221$111
38 years$1,345$870$546$334$200$98
39 years$1,296$827$511$308$182$87
40 years$1,250$787$479$284$165$77
41 years$1,206$749$449$262$149$69
42 years$1,164$714$421$242$136$61
43 years$1,124$680$395$223$123$54
44 years$1,086$648$371$206$112$48
45 years$1,050$618$349$190$101$42
46 years$1,015$590$327$176$92$38
47 years$983$563$308$162$84$33
48 years$951$537$289$150$76$30
49 years$921$513$272$139$69$26
50 years$892$490$255$128$63$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $914,000, adding $6,603 every year, while hoping to spend $53,551 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: 44/41/15 Blend
57$914,000$914,000$914,000$914,000
58$1,014,039$965,597$951,430$1,054,000
59$1,060,493$955,933$926,325$1,072,941
60$1,109,891$944,001$898,584$1,087,586
61$1,162,476$929,634$868,063$1,102,302
62$1,218,515$912,652$834,609$1,117,118
63$1,278,300$892,868$798,065$1,132,071
64$1,342,151$870,084$758,265$1,147,204
65$1,410,419$844,087$715,036$1,162,569
66$1,483,489$814,654$668,197$1,178,231
67$1,561,781$781,549$617,558$1,194,261
68$1,645,760$744,521$562,923$1,210,747
69$1,735,931$703,307$504,085$1,227,788
70$1,832,853$657,626$440,828$1,245,501
71$1,937,136$607,181$372,928$1,264,021
72$2,049,452$551,661$300,149$1,283,502
73$2,170,538$490,735$222,246$1,304,121
74$2,301,205$424,052$138,963$1,326,082
75$2,442,341$351,244$50,032$1,349,616
76$2,594,925$271,921$0$1,374,985
77$2,760,032$185,669$0$1,409,672
78$2,938,843$92,055$0$1,455,845
79$3,132,658$0$0$1,505,919
80$3,342,904$0$0$1,564,612
81$3,571,153$0$0$1,673,512
82$3,819,132$0$0$1,791,923
83$4,088,742$0$0$1,920,765
84$4,382,075$0$0$2,061,050
85$4,701,430$0$0$2,213,892
86$5,049,340$0$0$2,380,516
87$5,428,590$0$0$2,562,270
88$5,842,246$0$0$2,760,641
89$6,293,684$0$0$2,977,261
90$6,786,617$0$0$3,213,930
91$7,325,135$0$0$3,472,629
92$7,913,740$0$0$3,755,537
93$8,557,388$0$0$4,065,056
94$9,261,536$0$0$4,403,830
95$10,032,193$0$0$4,774,769
96$10,875,975$0$0$5,181,078
97$11,800,169$0$0$5,626,289
98$12,812,798$0$0$6,114,288
99$13,922,699$0$0$6,649,358
100$15,139,605$0$0$7,236,214