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%13.7%
1 years$75,477$74,805$74,149$73,509$72,884$71,765
2 years$37,365$36,669$35,995$35,341$34,706$33,582
3 years$24,663$23,964$23,291$22,643$22,019$20,924
4 years$18,313$17,616$16,950$16,313$15,704$14,647
5 years$14,504$13,811$13,154$12,530$11,938$10,922
6 years$11,965$11,278$10,630$10,020$9,446$8,472
7 years$10,153$9,471$8,834$8,238$7,682$6,750
8 years$8,794$8,118$7,492$6,911$6,373$5,483
9 years$7,738$7,069$6,453$5,887$5,367$4,519
10 years$6,893$6,231$5,626$5,074$4,573$3,766
11 years$6,203$5,547$4,953$4,416$3,933$3,166
12 years$5,628$4,978$4,395$3,874$3,408$2,680
13 years$5,141$4,499$3,927$3,420$2,972$2,283
14 years$4,725$4,090$3,528$3,036$2,605$1,953
15 years$4,365$3,736$3,186$2,707$2,294$1,677
16 years$4,049$3,428$2,888$2,424$2,027$1,446
17 years$3,772$3,157$2,628$2,178$1,798$1,249
18 years$3,525$2,917$2,399$1,963$1,598$1,082
19 years$3,305$2,703$2,196$1,774$1,425$939
20 years$3,106$2,512$2,016$1,606$1,273$817
21 years$2,927$2,340$1,854$1,458$1,139$711
22 years$2,765$2,184$1,709$1,326$1,021$620
23 years$2,617$2,043$1,578$1,207$916$541
24 years$2,481$1,914$1,459$1,101$824$473
25 years$2,356$1,796$1,351$1,006$741$414
26 years$2,242$1,688$1,253$919$668$362
27 years$2,135$1,589$1,164$842$602$317
28 years$2,037$1,497$1,082$771$543$278
29 years$1,946$1,412$1,007$707$490$243
30 years$1,861$1,334$938$649$443$213
31 years$1,781$1,261$874$596$401$187
32 years$1,707$1,193$816$548$362$164
33 years$1,637$1,130$762$504$328$144
34 years$1,571$1,071$712$463$297$127
35 years$1,510$1,016$665$427$269$111
36 years$1,452$964$622$393$244$98
37 years$1,397$916$583$362$221$86
38 years$1,345$870$546$334$200$75
39 years$1,296$827$511$308$182$66
40 years$1,250$787$479$284$165$58
41 years$1,206$749$449$262$149$51
42 years$1,164$714$421$242$136$45
43 years$1,124$680$395$223$123$40
44 years$1,086$648$371$206$112$35
45 years$1,050$618$349$190$101$31
46 years$1,015$590$327$176$92$27
47 years$983$563$308$162$84$24
48 years$951$537$289$150$76$21
49 years$921$513$272$139$69$18
50 years$892$490$255$128$63$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $914,000, adding $4,099 every year, while hoping to spend $44,939 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: 45/41/14 Blend
57$914,000$914,000$914,000$914,000
58$1,011,456$963,014$948,847$1,052,754
59$1,066,810$962,387$932,819$1,081,293
60$1,126,304$960,223$914,747$1,107,357
61$1,190,312$956,400$894,517$1,134,637
62$1,259,247$950,786$872,006$1,163,264
63$1,333,560$943,244$847,088$1,193,383
64$1,413,748$933,628$819,630$1,225,160
65$1,500,356$921,782$789,494$1,258,778
66$1,593,984$907,541$756,534$1,294,443
67$1,695,291$890,731$720,598$1,332,384
68$1,805,001$871,167$681,528$1,372,858
69$1,923,910$848,653$639,159$1,416,152
70$2,052,894$822,982$593,316$1,462,587
71$2,192,916$793,935$543,818$1,512,519
72$2,345,034$761,279$490,478$1,566,346
73$2,510,415$724,769$433,096$1,624,513
74$2,690,340$684,145$371,467$1,687,513
75$2,886,218$639,132$305,375$1,755,896
76$3,099,603$589,440$234,595$1,830,274
77$3,332,200$534,760$158,892$1,911,329
78$3,585,891$474,770$78,021$1,999,818
79$3,862,742$409,124$0$2,096,581
80$4,165,032$337,461$0$2,203,791
81$4,495,267$259,398$0$2,333,766
82$4,856,205$174,530$0$2,476,034
83$5,250,886$82,430$0$2,631,918
84$5,682,654$0$0$2,802,880
85$6,155,191$0$0$2,998,374
86$6,672,554$0$0$3,253,233
87$7,239,208$0$0$3,532,483
88$7,860,072$0$0$3,838,560
89$8,540,561$0$0$4,174,148
90$9,286,641$0$0$4,542,204
91$10,104,883$0$0$4,945,984
92$11,002,521$0$0$5,389,075
93$11,987,527$0$0$5,875,426
94$13,068,680$0$0$6,409,391
95$14,255,651$0$0$6,995,762
96$15,559,094$0$0$7,639,820
97$16,990,742$0$0$8,347,382
98$18,563,524$0$0$9,124,858
99$20,291,682$0$0$9,979,306
100$22,190,903$0$0$10,918,505