Can I retire at age 58 with 918,000?

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 $918,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$75,808$75,132$74,474$73,830$73,203$72,408
2 years$37,529$36,830$36,152$35,495$34,858$34,058
3 years$24,770$24,069$23,393$22,742$22,116$21,335
4 years$18,393$17,693$17,024$16,385$15,773$15,018
5 years$14,567$13,871$13,211$12,585$11,990$11,263
6 years$12,017$11,327$10,677$10,064$9,488$8,788
7 years$10,197$9,512$8,872$8,274$7,716$7,046
8 years$8,832$8,154$7,525$6,941$6,401$5,759
9 years$7,771$7,099$6,481$5,912$5,391$4,777
10 years$6,923$6,258$5,650$5,096$4,593$4,008
11 years$6,230$5,571$4,974$4,435$3,950$3,393
12 years$5,652$5,000$4,415$3,890$3,423$2,893
13 years$5,164$4,519$3,944$3,435$2,985$2,481
14 years$4,746$4,107$3,544$3,049$2,617$2,138
15 years$4,384$3,752$3,200$2,719$2,304$1,850
16 years$4,067$3,443$2,901$2,435$2,036$1,607
17 years$3,788$3,170$2,640$2,188$1,805$1,400
18 years$3,540$2,930$2,410$1,971$1,605$1,222
19 years$3,319$2,715$2,206$1,781$1,431$1,069
20 years$3,120$2,523$2,025$1,613$1,278$937
21 years$2,940$2,350$1,862$1,464$1,144$823
22 years$2,777$2,194$1,716$1,331$1,025$724
23 years$2,628$2,052$1,585$1,212$920$637
24 years$2,492$1,922$1,466$1,106$827$561
25 years$2,367$1,804$1,357$1,010$744$495
26 years$2,251$1,696$1,259$923$670$437
27 years$2,145$1,596$1,169$845$604$386
28 years$2,046$1,504$1,087$774$545$341
29 years$1,954$1,418$1,011$710$493$302
30 years$1,869$1,340$942$652$445$267
31 years$1,789$1,266$878$599$402$236
32 years$1,714$1,198$819$550$364$209
33 years$1,644$1,135$765$506$329$185
34 years$1,578$1,076$715$465$298$164
35 years$1,516$1,020$668$428$270$146
36 years$1,458$968$625$395$245$129
37 years$1,403$920$585$364$222$114
38 years$1,351$874$548$335$201$102
39 years$1,302$831$513$309$182$90
40 years$1,255$791$481$285$165$80
41 years$1,211$753$451$263$150$71
42 years$1,169$717$423$243$136$63
43 years$1,129$683$397$224$124$56
44 years$1,091$651$373$207$112$50
45 years$1,054$621$350$191$102$44
46 years$1,020$592$329$176$92$39
47 years$987$565$309$163$84$35
48 years$955$539$290$151$76$31
49 years$925$515$273$139$69$27
50 years$896$492$257$129$63$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $918,000, adding $5,379 every year, while hoping to spend $22,540 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: 31/49/20 Blend
57$918,000$918,000$918,000$918,000
58$1,017,184$968,530$954,301$1,042,233
59$1,096,955$992,006$962,288$1,085,043
60$1,184,106$1,015,877$969,787$1,128,682
61$1,279,368$1,040,137$976,758$1,175,185
62$1,383,543$1,064,783$983,158$1,224,815
63$1,497,514$1,089,808$988,944$1,277,860
64$1,622,256$1,115,203$994,069$1,334,640
65$1,758,838$1,140,961$998,483$1,395,506
66$1,908,443$1,167,070$1,002,134$1,460,846
67$2,072,368$1,193,521$1,004,970$1,531,087
68$2,252,045$1,220,299$1,006,932$1,606,699
69$2,449,051$1,247,391$1,007,962$1,688,200
70$2,665,121$1,274,781$1,007,996$1,776,164
71$2,902,168$1,302,449$1,006,968$1,871,220
72$3,162,298$1,330,378$1,004,810$1,974,063
73$3,447,830$1,358,544$1,001,449$2,085,460
74$3,761,320$1,386,924$996,809$2,206,256
75$4,105,584$1,415,492$990,811$2,337,383
76$4,483,721$1,444,219$983,371$2,479,867
77$4,899,149$1,473,074$974,402$2,634,843
78$5,355,629$1,502,023$963,812$2,803,559
79$5,857,310$1,531,028$951,506$2,987,393
80$6,408,756$1,560,049$937,382$3,187,864
81$7,015,002$1,589,044$921,337$3,406,647
82$7,681,590$1,617,965$903,259$3,645,589
83$8,414,628$1,646,761$883,034$3,906,727
84$9,220,845$1,675,378$860,542$4,192,306
85$10,107,657$1,703,757$835,655$4,504,804
86$11,083,232$1,731,834$808,243$4,846,951
87$12,156,569$1,759,542$778,167$5,221,759
88$13,337,587$1,786,808$745,284$5,632,548
89$14,637,212$1,813,552$709,442$6,082,980
90$16,067,483$1,839,691$670,483$6,577,092
91$17,641,665$1,865,136$628,244$7,119,335
92$19,374,377$1,889,789$582,551$7,714,618
93$21,281,722$1,913,547$533,226$8,368,353
94$23,381,448$1,936,302$480,080$9,086,507
95$25,693,110$1,957,935$422,916$9,875,660
96$28,238,254$1,978,320$361,531$10,743,066
97$31,040,622$1,997,324$295,709$11,696,723
98$34,126,378$2,014,805$225,227$12,745,448
99$37,524,348$2,030,610$149,851$13,898,964
100$41,266,299$2,044,577$69,339$15,167,990