Can I retire at age 58 with 921,000?

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 $921,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$76,055$75,378$74,717$74,072$73,442$71,842
2 years$37,651$36,950$36,270$35,611$34,972$33,368
3 years$24,851$24,147$23,469$22,817$22,188$20,630
4 years$18,453$17,751$17,080$16,438$15,825$14,325
5 years$14,615$13,917$13,255$12,626$12,030$10,592
6 years$12,057$11,364$10,712$10,097$9,519$8,145
7 years$10,230$9,544$8,901$8,301$7,741$6,432
8 years$8,861$8,181$7,549$6,964$6,422$5,176
9 years$7,797$7,123$6,502$5,932$5,408$4,225
10 years$6,946$6,278$5,669$5,113$4,608$3,487
11 years$6,250$5,589$4,991$4,450$3,963$2,902
12 years$5,671$5,017$4,429$3,903$3,434$2,432
13 years$5,181$4,534$3,957$3,446$2,995$2,049
14 years$4,761$4,121$3,555$3,059$2,625$1,734
15 years$4,398$3,764$3,210$2,728$2,311$1,473
16 years$4,080$3,454$2,910$2,443$2,043$1,255
17 years$3,800$3,181$2,648$2,195$1,811$1,073
18 years$3,552$2,939$2,418$1,978$1,611$918
19 years$3,330$2,724$2,213$1,787$1,436$788
20 years$3,130$2,531$2,031$1,619$1,282$677
21 years$2,950$2,358$1,868$1,469$1,147$582
22 years$2,786$2,201$1,722$1,336$1,029$501
23 years$2,637$2,058$1,590$1,216$923$432
24 years$2,500$1,929$1,470$1,109$830$373
25 years$2,374$1,810$1,362$1,013$747$322
26 years$2,259$1,701$1,263$926$673$278
27 years$2,152$1,601$1,173$848$606$240
28 years$2,053$1,509$1,090$777$547$208
29 years$1,961$1,423$1,015$712$494$180
30 years$1,875$1,344$945$654$446$156
31 years$1,795$1,271$881$601$404$135
32 years$1,720$1,202$822$552$365$117
33 years$1,649$1,138$768$508$330$101
34 years$1,583$1,079$717$467$299$88
35 years$1,521$1,023$670$430$271$76
36 years$1,463$971$627$396$246$66
37 years$1,408$923$587$365$223$57
38 years$1,355$877$550$336$202$49
39 years$1,306$834$515$310$183$43
40 years$1,259$793$483$286$166$37
41 years$1,215$755$453$264$151$32
42 years$1,173$719$425$243$137$28
43 years$1,132$685$398$225$124$24
44 years$1,094$653$374$208$113$21
45 years$1,058$623$351$192$102$18
46 years$1,023$594$330$177$93$16
47 years$990$567$310$164$84$14
48 years$958$541$291$151$76$12
49 years$928$517$274$140$69$10
50 years$899$494$257$129$63$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $921,000, adding $3,296 every year, while hoping to spend $59,993 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: 35/39/26 Blend
57$921,000$921,000$921,000$921,000
58$1,018,342$969,529$955,253$1,045,889
59$1,058,381$953,204$923,422$1,050,370
60$1,100,493$934,068$888,514$1,049,531
61$1,144,826$911,920$850,362$1,047,450
62$1,191,542$886,548$808,793$1,044,054
63$1,240,816$857,726$763,625$1,039,271
64$1,292,840$825,215$714,667$1,033,025
65$1,347,823$788,764$661,721$1,025,241
66$1,405,991$748,104$604,580$1,015,842
67$1,467,595$702,953$543,026$1,004,750
68$1,532,905$653,014$476,833$991,886
69$1,602,219$597,969$405,764$977,173
70$1,675,861$537,485$329,573$960,533
71$1,754,187$471,209$248,001$941,889
72$1,837,584$398,769$160,779$921,167
73$1,926,478$319,769$67,626$898,295
74$2,021,336$233,795$0$873,202
75$2,122,668$140,406$0$854,641
76$2,231,032$39,139$0$854,330
77$2,347,044$0$0$853,524
78$2,471,374$0$0$882,523
79$2,604,762$0$0$931,744
80$2,748,016$0$0$984,700
81$2,902,026$0$0$1,041,733
82$3,067,766$0$0$1,103,215
83$3,246,309$0$0$1,169,558
84$3,438,830$0$0$1,241,214
85$3,646,623$0$0$1,318,677
86$3,871,107$0$0$1,402,494
87$4,113,843$0$0$1,493,264
88$4,376,546$0$0$1,591,645
89$4,661,103$0$0$1,698,362
90$4,969,585$0$0$1,814,212
91$5,304,275$0$0$1,940,071
92$5,667,678$0$0$2,076,903
93$6,062,552$0$0$2,225,769
94$6,491,932$0$0$2,387,836
95$6,959,156$0$0$2,564,386
96$7,467,895$0$0$2,756,835
97$8,022,191$0$0$2,966,735
98$8,626,492$0$0$3,195,800
99$9,285,691$0$0$3,445,913
100$10,005,176$0$0$3,719,148