Can I retire at age 58 with 919,000?

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 $919,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$75,890$75,214$74,555$73,911$73,282$70,682
2 years$37,569$36,870$36,192$35,534$34,896$32,304
3 years$24,797$24,095$23,418$22,767$22,140$19,638
4 years$18,413$17,712$17,043$16,402$15,790$13,397
5 years$14,583$13,887$13,226$12,599$12,003$9,725
6 years$12,031$11,339$10,688$10,075$9,498$7,337
7 years$10,208$9,523$8,882$8,283$7,724$5,679
8 years$8,842$8,163$7,533$6,949$6,408$4,478
9 years$7,780$7,107$6,488$5,919$5,397$3,578
10 years$6,931$6,265$5,656$5,102$4,598$2,889
11 years$6,236$5,577$4,980$4,440$3,955$2,351
12 years$5,658$5,006$4,419$3,895$3,427$1,925
13 years$5,170$4,524$3,948$3,438$2,988$1,584
14 years$4,751$4,112$3,548$3,052$2,620$1,309
15 years$4,388$3,756$3,203$2,722$2,306$1,085
16 years$4,072$3,446$2,904$2,437$2,038$901
17 years$3,792$3,174$2,643$2,190$1,807$751
18 years$3,544$2,933$2,412$1,974$1,607$626
19 years$3,323$2,718$2,208$1,783$1,432$523
20 years$3,123$2,526$2,027$1,615$1,279$438
21 years$2,943$2,353$1,864$1,466$1,145$367
22 years$2,780$2,196$1,718$1,333$1,026$307
23 years$2,631$2,054$1,586$1,214$921$258
24 years$2,495$1,924$1,467$1,107$828$216
25 years$2,369$1,806$1,359$1,011$745$182
26 years$2,254$1,697$1,260$924$671$152
27 years$2,147$1,597$1,170$846$605$128
28 years$2,048$1,505$1,088$775$546$108
29 years$1,956$1,420$1,012$711$493$91
30 years$1,871$1,341$943$652$446$76
31 years$1,791$1,268$879$599$403$64
32 years$1,716$1,200$820$551$364$54
33 years$1,646$1,136$766$506$330$45
34 years$1,580$1,077$716$466$299$38
35 years$1,518$1,021$669$429$270$32
36 years$1,460$969$626$395$245$27
37 years$1,404$921$586$364$222$23
38 years$1,352$875$549$335$201$19
39 years$1,303$832$514$309$183$16
40 years$1,256$792$482$285$166$14
41 years$1,212$753$452$263$150$11
42 years$1,170$718$424$243$136$10
43 years$1,130$684$398$224$124$8
44 years$1,092$652$373$207$112$7
45 years$1,056$621$350$191$102$6
46 years$1,021$593$329$177$93$5
47 years$988$566$309$163$84$4
48 years$956$540$291$151$76$3
49 years$926$516$273$139$69$3
50 years$897$493$257$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $919,000, adding $5,302 every year, while hoping to spend $24,842 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: 61/20/19 Blend
57$919,000$919,000$919,000$919,000
58$1,018,207$969,500$955,256$1,075,010
59$1,095,632$990,574$960,825$1,135,073
60$1,180,123$1,011,848$965,748$1,197,364
61$1,272,372$1,033,305$969,978$1,264,775
62$1,373,145$1,054,928$973,463$1,337,807
63$1,483,283$1,076,697$976,151$1,417,011
64$1,603,713$1,098,589$977,987$1,502,993
65$1,735,454$1,120,583$978,912$1,596,424
66$1,879,629$1,142,651$978,865$1,698,042
67$2,037,477$1,164,766$977,782$1,808,658
68$2,210,357$1,186,897$975,596$1,929,169
69$2,399,771$1,209,013$972,235$2,060,563
70$2,607,369$1,231,076$967,627$2,203,928
71$2,834,972$1,253,050$961,693$2,360,464
72$3,084,582$1,274,892$954,353$2,531,492
73$3,358,406$1,296,558$945,521$2,718,471
74$3,658,875$1,318,001$935,107$2,923,007
75$3,988,666$1,339,169$923,019$3,146,870
76$4,350,728$1,360,006$909,158$3,392,013
77$4,748,310$1,380,454$893,423$3,660,586
78$5,184,990$1,400,449$875,705$3,954,961
79$5,664,711$1,419,923$855,892$4,277,751
80$6,191,814$1,438,802$833,868$4,631,839
81$6,771,086$1,457,010$809,509$5,020,398
82$7,407,796$1,474,463$782,687$5,446,931
83$8,107,751$1,491,071$753,267$5,915,296
84$8,877,349$1,506,741$721,109$6,429,745
85$9,723,638$1,521,371$686,066$6,994,968
86$10,654,384$1,534,853$647,983$7,616,130
87$11,678,143$1,547,072$606,702$8,298,929
88$12,804,340$1,557,906$562,054$9,049,643
89$14,043,363$1,567,223$513,863$9,875,191
90$15,406,656$1,574,887$461,946$10,783,202
91$16,906,826$1,580,748$406,113$11,782,083
92$18,557,768$1,584,650$346,163$12,881,102
93$20,374,788$1,586,426$281,888$14,090,473
94$22,374,755$1,585,899$213,070$15,421,454
95$24,576,254$1,582,882$139,481$16,886,455
96$26,999,762$1,577,173$60,884$18,499,154
97$29,667,845$1,568,562$0$20,274,626
98$32,605,367$1,556,824$0$22,234,149
99$35,839,725$1,541,719$0$24,404,851
100$39,401,110$1,522,995$0$26,794,617