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%19.9%
1 years$75,890$75,214$74,555$73,911$73,282$70,375
2 years$37,569$36,870$36,192$35,534$34,896$32,003
3 years$24,797$24,095$23,418$22,767$22,140$19,352
4 years$18,413$17,712$17,043$16,402$15,790$13,129
5 years$14,583$13,887$13,226$12,599$12,003$9,476
6 years$12,031$11,339$10,688$10,075$9,498$7,105
7 years$10,208$9,523$8,882$8,283$7,724$5,466
8 years$8,842$8,163$7,533$6,949$6,408$4,281
9 years$7,780$7,107$6,488$5,919$5,397$3,398
10 years$6,931$6,265$5,656$5,102$4,598$2,724
11 years$6,236$5,577$4,980$4,440$3,955$2,201
12 years$5,658$5,006$4,419$3,895$3,427$1,789
13 years$5,170$4,524$3,948$3,438$2,988$1,461
14 years$4,751$4,112$3,548$3,052$2,620$1,198
15 years$4,388$3,756$3,203$2,722$2,306$985
16 years$4,072$3,446$2,904$2,437$2,038$812
17 years$3,792$3,174$2,643$2,190$1,807$671
18 years$3,544$2,933$2,412$1,974$1,607$555
19 years$3,323$2,718$2,208$1,783$1,432$460
20 years$3,123$2,526$2,027$1,615$1,279$382
21 years$2,943$2,353$1,864$1,466$1,145$317
22 years$2,780$2,196$1,718$1,333$1,026$263
23 years$2,631$2,054$1,586$1,214$921$219
24 years$2,495$1,924$1,467$1,107$828$182
25 years$2,369$1,806$1,359$1,011$745$152
26 years$2,254$1,697$1,260$924$671$126
27 years$2,147$1,597$1,170$846$605$105
28 years$2,048$1,505$1,088$775$546$88
29 years$1,956$1,420$1,012$711$493$73
30 years$1,871$1,341$943$652$446$61
31 years$1,791$1,268$879$599$403$51
32 years$1,716$1,200$820$551$364$42
33 years$1,646$1,136$766$506$330$35
34 years$1,580$1,077$716$466$299$29
35 years$1,518$1,021$669$429$270$24
36 years$1,460$969$626$395$245$20
37 years$1,404$921$586$364$222$17
38 years$1,352$875$549$335$201$14
39 years$1,303$832$514$309$183$12
40 years$1,256$792$482$285$166$10
41 years$1,212$753$452$263$150$8
42 years$1,170$718$424$243$136$7
43 years$1,130$684$398$224$124$6
44 years$1,092$652$373$207$112$5
45 years$1,056$621$350$191$102$4
46 years$1,021$593$329$177$93$3
47 years$988$566$309$163$84$3
48 years$956$540$291$151$76$2
49 years$926$516$273$139$69$2
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 $3,295 every year, while hoping to spend $45,516 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: 90/5/5 Blend
57$919,000$919,000$919,000$919,000
58$1,016,137$967,430$953,185$1,107,476
59$1,071,354$966,405$936,688$1,166,306
60$1,130,678$963,805$918,113$1,224,193
61$1,194,479$959,504$897,342$1,286,324
62$1,263,165$953,368$874,252$1,353,087
63$1,337,183$945,258$848,715$1,424,914
64$1,417,024$935,024$820,595$1,502,275
65$1,503,227$922,507$789,751$1,585,692
66$1,596,385$907,538$756,037$1,675,735
67$1,697,150$889,941$719,298$1,773,034
68$1,806,238$869,527$679,373$1,878,281
69$1,924,436$846,096$636,093$1,992,238
70$2,052,610$819,436$589,284$2,115,743
71$2,191,712$789,324$538,761$2,249,721
72$2,342,789$755,524$484,332$2,395,186
73$2,506,993$717,784$425,797$2,553,258
74$2,685,591$675,840$362,946$2,725,170
75$2,879,977$629,412$295,560$2,912,277
76$3,091,684$578,203$223,411$3,116,075
77$3,322,401$521,900$146,260$3,338,208
78$3,573,986$460,172$63,859$3,580,489
79$3,848,482$392,670$0$3,844,915
80$4,148,139$319,024$0$4,134,968
81$4,475,436$238,842$0$4,455,505
82$4,833,099$151,714$0$4,805,799
83$5,224,131$57,204$0$5,188,804
84$5,651,836$0$0$5,607,776
85$6,119,856$0$0$6,068,783
86$6,632,196$0$0$6,576,894
87$7,193,270$0$0$7,133,339
88$7,807,939$0$0$7,742,938
89$8,481,554$0$0$8,410,999
90$9,220,010$0$0$9,143,367
91$10,029,799$0$0$9,946,483
92$10,918,070$0$0$10,827,437
93$11,892,700$0$0$11,794,040
94$12,962,363$0$0$12,854,896
95$14,136,615$0$0$14,019,482
96$15,425,981$0$0$15,298,237
97$16,842,057$0$0$16,702,662
98$18,397,616$0$0$18,245,424
99$20,106,728$0$0$19,940,479
100$21,984,894$0$0$21,803,202