Can I retire at age 58 with 915,000?

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 $915,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$75,560$74,887$74,230$73,589$72,963$70,855
2 years$37,406$36,709$36,034$35,379$34,744$32,637
3 years$24,690$23,990$23,316$22,668$22,043$20,003
4 years$18,333$17,635$16,968$16,331$15,721$13,764
5 years$14,519$13,826$13,168$12,544$11,951$10,081
6 years$11,978$11,290$10,642$10,031$9,457$7,677
7 years$10,164$9,481$8,843$8,247$7,691$6,000
8 years$8,803$8,127$7,500$6,918$6,380$4,779
9 years$7,746$7,076$6,460$5,893$5,373$3,859
10 years$6,901$6,237$5,632$5,080$4,578$3,149
11 years$6,209$5,553$4,958$4,421$3,937$2,591
12 years$5,634$4,984$4,400$3,878$3,412$2,145
13 years$5,147$4,504$3,931$3,424$2,975$1,786
14 years$4,730$4,094$3,532$3,039$2,608$1,493
15 years$4,369$3,740$3,189$2,710$2,296$1,252
16 years$4,054$3,431$2,891$2,427$2,030$1,054
17 years$3,776$3,160$2,631$2,180$1,800$888
18 years$3,529$2,920$2,402$1,965$1,600$751
19 years$3,308$2,706$2,199$1,776$1,426$635
20 years$3,110$2,515$2,018$1,608$1,274$538
21 years$2,931$2,342$1,856$1,459$1,140$457
22 years$2,768$2,187$1,711$1,327$1,022$388
23 years$2,620$2,045$1,580$1,208$917$330
24 years$2,484$1,916$1,461$1,102$824$281
25 years$2,359$1,798$1,353$1,007$742$239
26 years$2,244$1,690$1,255$920$668$203
27 years$2,138$1,590$1,165$842$603$173
28 years$2,039$1,499$1,083$772$544$148
29 years$1,948$1,414$1,008$708$491$126
30 years$1,863$1,335$939$650$444$107
31 years$1,783$1,262$875$597$401$91
32 years$1,708$1,194$817$548$363$78
33 years$1,639$1,131$763$504$328$67
34 years$1,573$1,072$712$464$297$57
35 years$1,511$1,017$666$427$269$48
36 years$1,453$965$623$393$244$41
37 years$1,398$917$583$362$221$35
38 years$1,347$871$546$334$200$30
39 years$1,297$828$512$308$182$26
40 years$1,251$788$480$284$165$22
41 years$1,207$750$450$262$150$19
42 years$1,165$714$422$242$136$16
43 years$1,125$681$396$223$123$14
44 years$1,087$649$372$206$112$12
45 years$1,051$619$349$190$101$10
46 years$1,017$590$328$176$92$9
47 years$984$563$308$162$84$7
48 years$952$538$289$150$76$6
49 years$922$514$272$139$69$5
50 years$893$491$256$128$63$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $915,000, adding $6,612 every year, while hoping to spend $30,860 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: 43/44/13 Blend
57$915,000$915,000$915,000$915,000
58$1,015,150$966,655$952,473$1,054,702
59$1,085,861$981,187$951,546$1,097,558
60$1,162,750$995,396$949,554$1,140,356
61$1,246,414$1,009,234$946,428$1,186,043
62$1,337,512$1,022,650$942,096$1,234,897
63$1,436,766$1,035,588$936,485$1,287,227
64$1,544,974$1,047,990$929,515$1,343,372
65$1,663,011$1,059,791$921,103$1,403,706
66$1,791,842$1,070,924$911,164$1,468,644
67$1,932,529$1,081,319$899,607$1,538,644
68$2,086,240$1,090,896$886,337$1,614,212
69$2,254,262$1,099,576$871,255$1,695,907
70$2,438,013$1,107,271$854,258$1,784,345
71$2,639,051$1,113,888$835,236$1,880,209
72$2,859,094$1,119,329$814,077$1,984,251
73$3,100,034$1,123,488$790,660$2,097,305
74$3,363,952$1,126,254$764,863$2,220,288
75$3,653,144$1,127,509$736,554$2,354,215
76$3,970,135$1,127,127$705,599$2,500,207
77$4,317,706$1,124,973$671,854$2,659,502
78$4,698,921$1,120,907$635,170$2,833,465
79$5,117,157$1,114,777$595,394$3,023,606
80$5,576,129$1,106,423$552,362$3,231,592
81$6,079,932$1,095,676$505,904$3,459,260
82$6,633,077$1,082,356$455,844$3,708,643
83$7,240,532$1,066,273$401,996$3,981,980
84$7,907,771$1,047,224$344,167$4,281,748
85$8,640,822$1,024,996$282,155$4,610,677
86$9,446,327$999,363$215,748$4,971,782
87$10,331,604$970,083$144,728$5,368,390
88$11,304,715$936,905$68,864$5,804,174
89$12,374,541$899,558$0$6,283,185
90$13,550,866$857,758$0$6,811,575
91$14,844,472$811,206$0$7,402,901
92$16,267,235$759,582$0$8,053,084
93$17,832,241$702,550$0$8,768,168
94$19,553,909$639,754$0$9,554,822
95$21,448,125$570,819$0$10,420,400
96$23,532,392$495,348$0$11,373,012
97$25,825,996$412,919$0$12,421,603
98$28,350,187$323,091$0$13,576,038
99$31,128,377$225,394$0$14,847,194
100$34,186,368$119,334$0$16,247,070