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%18.9%
1 years$75,560$74,887$74,230$73,589$72,963$70,347
2 years$37,406$36,709$36,034$35,379$34,744$32,136
3 years$24,690$23,990$23,316$22,668$22,043$19,526
4 years$18,333$17,635$16,968$16,331$15,721$13,314
5 years$14,519$13,826$13,168$12,544$11,951$9,660
6 years$11,978$11,290$10,642$10,031$9,457$7,283
7 years$10,164$9,481$8,843$8,247$7,691$5,635
8 years$8,803$8,127$7,500$6,918$6,380$4,440
9 years$7,746$7,076$6,460$5,893$5,373$3,546
10 years$6,901$6,237$5,632$5,080$4,578$2,861
11 years$6,209$5,553$4,958$4,421$3,937$2,327
12 years$5,634$4,984$4,400$3,878$3,412$1,904
13 years$5,147$4,504$3,931$3,424$2,975$1,566
14 years$4,730$4,094$3,532$3,039$2,608$1,293
15 years$4,369$3,740$3,189$2,710$2,296$1,071
16 years$4,054$3,431$2,891$2,427$2,030$889
17 years$3,776$3,160$2,631$2,180$1,800$740
18 years$3,529$2,920$2,402$1,965$1,600$617
19 years$3,308$2,706$2,199$1,776$1,426$515
20 years$3,110$2,515$2,018$1,608$1,274$430
21 years$2,931$2,342$1,856$1,459$1,140$360
22 years$2,768$2,187$1,711$1,327$1,022$302
23 years$2,620$2,045$1,580$1,208$917$253
24 years$2,484$1,916$1,461$1,102$824$212
25 years$2,359$1,798$1,353$1,007$742$178
26 years$2,244$1,690$1,255$920$668$149
27 years$2,138$1,590$1,165$842$603$125
28 years$2,039$1,499$1,083$772$544$105
29 years$1,948$1,414$1,008$708$491$88
30 years$1,863$1,335$939$650$444$74
31 years$1,783$1,262$875$597$401$62
32 years$1,708$1,194$817$548$363$52
33 years$1,639$1,131$763$504$328$44
34 years$1,573$1,072$712$464$297$37
35 years$1,511$1,017$666$427$269$31
36 years$1,453$965$623$393$244$26
37 years$1,398$917$583$362$221$22
38 years$1,347$871$546$334$200$19
39 years$1,297$828$512$308$182$16
40 years$1,251$788$480$284$165$13
41 years$1,207$750$450$262$150$11
42 years$1,165$714$422$242$136$9
43 years$1,125$681$396$223$123$8
44 years$1,087$649$372$206$112$7
45 years$1,051$619$349$190$101$6
46 years$1,017$590$328$176$92$5
47 years$984$563$308$162$84$4
48 years$952$538$289$150$76$3
49 years$922$514$272$139$69$3
50 years$893$491$256$128$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $915,000, adding $6,509 every year, while hoping to spend $38,607 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: 44/33/23 Blend
57$915,000$915,000$915,000$915,000
58$1,015,044$966,549$952,367$1,052,685
59$1,077,501$972,832$943,193$1,086,250
60$1,145,035$978,130$932,419$1,118,357
61$1,218,122$982,352$919,949$1,152,385
62$1,297,287$985,404$905,684$1,188,531
63$1,383,108$987,186$889,521$1,227,016
64$1,476,217$987,590$871,352$1,268,085
65$1,577,312$986,503$851,064$1,312,009
66$1,687,160$983,804$828,537$1,359,090
67$1,806,606$979,366$803,648$1,409,665
68$1,936,576$973,051$776,266$1,464,104
69$2,078,093$964,716$746,257$1,522,822
70$2,232,280$954,209$713,479$1,586,276
71$2,400,374$941,367$677,782$1,654,976
72$2,583,736$926,018$639,011$1,729,484
73$2,783,864$907,981$597,006$1,810,427
74$3,002,409$887,062$551,596$1,898,496
75$3,241,184$863,058$502,604$1,994,460
76$3,502,190$835,752$449,846$2,099,169
77$3,787,625$804,916$393,128$2,213,566
78$4,099,914$770,308$332,248$2,338,692
79$4,441,723$731,671$266,997$2,475,703
80$4,815,991$688,735$197,154$2,625,879
81$5,225,953$641,214$122,489$2,790,633
82$5,675,171$588,804$42,763$2,971,532
83$6,167,568$531,185$0$3,170,307
84$6,707,466$468,019$0$3,399,261
85$7,299,624$398,948$0$3,662,002
86$7,949,284$323,595$0$3,950,434
87$8,662,220$241,560$0$4,267,219
88$9,444,791$152,422$0$4,615,295
89$10,304,005$55,736$0$4,997,903
90$11,247,577$0$0$5,418,622
91$12,284,010$0$0$5,899,185
92$13,422,667$0$0$6,449,499
93$14,673,867$0$0$7,054,326
94$16,048,975$0$0$7,719,175
95$17,560,513$0$0$8,450,116
96$19,222,276$0$0$9,253,836
97$21,049,462$0$0$10,137,702
98$23,058,817$0$0$11,109,832
99$25,268,788$0$0$12,179,169
100$27,699,703$0$0$13,355,566