Can I retire at age 58 with 920,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$75,973$75,296$74,636$73,991$73,362$72,536
2 years$37,610$36,910$36,231$35,573$34,934$34,102
3 years$24,824$24,121$23,444$22,792$22,164$21,352
4 years$18,433$17,731$17,061$16,420$15,807$15,022
5 years$14,599$13,902$13,240$12,612$12,017$11,260
6 years$12,044$11,352$10,700$10,086$9,508$8,782
7 years$10,219$9,533$8,892$8,292$7,733$7,036
8 years$8,852$8,172$7,541$6,956$6,415$5,749
9 years$7,788$7,115$6,495$5,925$5,402$4,766
10 years$6,938$6,271$5,662$5,108$4,603$3,996
11 years$6,243$5,583$4,985$4,445$3,959$3,380
12 years$5,664$5,011$4,424$3,899$3,431$2,880
13 years$5,175$4,529$3,953$3,442$2,992$2,469
14 years$4,756$4,116$3,552$3,056$2,622$2,126
15 years$4,393$3,760$3,207$2,725$2,309$1,839
16 years$4,076$3,450$2,907$2,440$2,041$1,596
17 years$3,796$3,177$2,645$2,192$1,809$1,389
18 years$3,548$2,936$2,415$1,976$1,609$1,212
19 years$3,326$2,721$2,211$1,785$1,434$1,059
20 years$3,127$2,529$2,029$1,617$1,281$928
21 years$2,947$2,355$1,866$1,467$1,146$814
22 years$2,783$2,199$1,720$1,334$1,027$715
23 years$2,634$2,056$1,588$1,215$922$629
24 years$2,497$1,927$1,469$1,108$829$554
25 years$2,372$1,808$1,360$1,012$746$488
26 years$2,256$1,699$1,262$925$672$431
27 years$2,150$1,599$1,172$847$606$380
28 years$2,050$1,507$1,089$776$547$336
29 years$1,958$1,422$1,014$712$494$297
30 years$1,873$1,343$944$653$446$262
31 years$1,793$1,269$880$600$403$232
32 years$1,718$1,201$821$551$365$205
33 years$1,648$1,137$767$507$330$182
34 years$1,582$1,078$716$466$299$161
35 years$1,520$1,022$670$429$271$142
36 years$1,461$970$627$395$245$126
37 years$1,406$922$586$364$222$112
38 years$1,354$876$549$336$202$99
39 years$1,305$833$515$310$183$88
40 years$1,258$792$482$286$166$78
41 years$1,213$754$452$264$150$69
42 years$1,171$718$424$243$136$61
43 years$1,131$684$398$224$124$54
44 years$1,093$652$374$207$112$48
45 years$1,057$622$351$191$102$43
46 years$1,022$593$330$177$93$38
47 years$989$566$310$163$84$34
48 years$957$541$291$151$76$30
49 years$927$516$273$140$69$26
50 years$898$493$257$129$63$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $920,000, adding $6,827 every year, while hoping to spend $52,316 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: 70/23/7 Blend
57$920,000$920,000$920,000$920,000
58$1,020,882$972,122$957,862$1,090,750
59$1,069,348$964,092$934,287$1,129,825
60$1,121,004$953,916$908,168$1,165,477
61$1,176,121$941,431$879,366$1,203,052
62$1,234,994$926,470$847,733$1,242,727
63$1,297,947$908,851$813,116$1,284,697
64$1,365,337$888,384$775,355$1,329,181
65$1,437,553$864,867$734,281$1,376,417
66$1,515,023$838,085$689,719$1,426,671
67$1,598,217$807,812$641,485$1,480,238
68$1,687,649$773,808$589,389$1,537,444
69$1,783,885$735,821$533,229$1,598,650
70$1,887,546$693,581$472,797$1,664,254
71$1,999,314$646,805$407,875$1,734,699
72$2,119,939$595,193$338,233$1,810,475
73$2,250,243$538,428$263,634$1,892,122
74$2,391,131$476,175$183,830$1,980,240
75$2,543,599$408,079$98,560$2,075,492
76$2,708,737$333,767$7,553$2,178,612
77$2,887,749$252,842$0$2,290,410
78$3,081,957$164,888$0$2,418,475
79$3,292,812$69,464$0$2,558,146
80$3,521,914$0$0$2,709,979
81$3,771,022$0$0$2,883,791
82$4,042,070$0$0$3,092,084
83$4,337,186$0$0$3,318,919
84$4,658,713$0$0$3,566,101
85$5,009,229$0$0$3,835,619
86$5,391,569$0$0$4,129,659
87$5,808,858$0$0$4,450,629
88$6,264,532$0$0$4,801,181
89$6,762,374$0$0$5,184,231
90$7,306,551$0$0$5,602,992
91$7,901,647$0$0$6,061,001
92$8,552,713$0$0$6,562,152
93$9,265,308$0$0$7,110,732
94$10,045,554$0$0$7,711,464
95$10,900,195$0$0$8,369,547
96$11,836,653$0$0$9,090,706
97$12,863,106$0$0$9,881,249
98$13,988,559$0$0$10,748,122
99$15,222,931$0$0$11,698,973
100$16,577,147$0$0$12,742,229