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%12.4%
1 years$76,055$75,378$74,717$74,072$73,442$72,705
2 years$37,651$36,950$36,270$35,611$34,972$34,230
3 years$24,851$24,147$23,469$22,817$22,188$21,464
4 years$18,453$17,751$17,080$16,438$15,825$15,124
5 years$14,615$13,917$13,255$12,626$12,030$11,354
6 years$12,057$11,364$10,712$10,097$9,519$8,869
7 years$10,230$9,544$8,901$8,301$7,741$7,118
8 years$8,861$8,181$7,549$6,964$6,422$5,825
9 years$7,797$7,123$6,502$5,932$5,408$4,838
10 years$6,946$6,278$5,669$5,113$4,608$4,064
11 years$6,250$5,589$4,991$4,450$3,963$3,444
12 years$5,671$5,017$4,429$3,903$3,434$2,940
13 years$5,181$4,534$3,957$3,446$2,995$2,525
14 years$4,761$4,121$3,555$3,059$2,625$2,179
15 years$4,398$3,764$3,210$2,728$2,311$1,888
16 years$4,080$3,454$2,910$2,443$2,043$1,642
17 years$3,800$3,181$2,648$2,195$1,811$1,432
18 years$3,552$2,939$2,418$1,978$1,611$1,252
19 years$3,330$2,724$2,213$1,787$1,436$1,097
20 years$3,130$2,531$2,031$1,619$1,282$963
21 years$2,950$2,358$1,868$1,469$1,147$847
22 years$2,786$2,201$1,722$1,336$1,029$746
23 years$2,637$2,058$1,590$1,216$923$658
24 years$2,500$1,929$1,470$1,109$830$580
25 years$2,374$1,810$1,362$1,013$747$513
26 years$2,259$1,701$1,263$926$673$453
27 years$2,152$1,601$1,173$848$606$401
28 years$2,053$1,509$1,090$777$547$355
29 years$1,961$1,423$1,015$712$494$315
30 years$1,875$1,344$945$654$446$279
31 years$1,795$1,271$881$601$404$247
32 years$1,720$1,202$822$552$365$219
33 years$1,649$1,138$768$508$330$195
34 years$1,583$1,079$717$467$299$173
35 years$1,521$1,023$670$430$271$153
36 years$1,463$971$627$396$246$136
37 years$1,408$923$587$365$223$121
38 years$1,355$877$550$336$202$107
39 years$1,306$834$515$310$183$95
40 years$1,259$793$483$286$166$85
41 years$1,215$755$453$264$151$75
42 years$1,173$719$425$243$137$67
43 years$1,132$685$398$225$124$60
44 years$1,094$653$374$208$113$53
45 years$1,058$623$351$192$102$47
46 years$1,023$594$330$177$93$42
47 years$990$567$310$164$84$37
48 years$958$541$291$151$76$33
49 years$928$517$274$140$69$29
50 years$899$494$257$129$63$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $921,000, adding $6,343 every year, while hoping to spend $22,322 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: 20/50/30 Blend
57$921,000$921,000$921,000$921,000
58$1,021,485$972,672$958,396$1,032,093
59$1,101,926$996,582$966,752$1,066,618
60$1,189,824$1,020,916$974,640$1,101,241
61$1,285,915$1,045,671$982,020$1,137,734
62$1,391,012$1,070,842$988,851$1,176,262
63$1,506,008$1,096,426$995,090$1,217,005
64$1,631,887$1,122,417$1,000,692$1,260,164
65$1,769,731$1,148,807$1,005,607$1,305,959
66$1,920,735$1,175,590$1,009,786$1,354,632
67$2,086,211$1,202,755$1,013,175$1,406,453
68$2,267,607$1,230,293$1,015,719$1,461,718
69$2,466,517$1,258,190$1,017,359$1,520,753
70$2,684,695$1,286,435$1,018,034$1,583,919
71$2,924,075$1,315,011$1,017,679$1,651,614
72$3,186,786$1,343,903$1,016,226$1,724,279
73$3,475,174$1,373,090$1,013,606$1,802,397
74$3,791,823$1,402,552$1,009,743$1,886,505
75$4,139,578$1,432,267$1,004,559$1,977,194
76$4,521,576$1,462,209$997,972$2,075,116
77$4,941,270$1,492,350$989,898$2,180,992
78$5,402,466$1,522,661$980,245$2,295,617
79$5,909,354$1,553,109$968,921$2,419,868
80$6,466,555$1,583,658$955,826$2,554,714
81$7,079,154$1,614,268$940,857$2,701,224
82$7,752,759$1,644,898$923,907$2,860,578
83$8,493,545$1,675,502$904,862$3,034,078
84$9,308,316$1,706,031$883,604$3,223,162
85$10,204,569$1,736,432$860,010$3,429,415
86$11,190,564$1,766,646$833,949$3,654,587
87$12,275,403$1,796,613$805,288$3,900,612
88$13,469,112$1,826,265$773,883$4,169,618
89$14,782,740$1,855,531$739,587$4,463,960
90$16,228,461$1,884,333$702,245$4,786,230
91$17,819,690$1,912,591$661,695$5,139,293
92$19,571,205$1,940,215$617,769$5,526,307
93$21,499,293$1,967,110$570,289$5,950,758
94$23,621,898$1,993,176$519,071$6,416,490
95$25,958,794$2,018,304$463,922$6,927,744
96$28,531,768$2,042,378$404,641$7,489,200
97$31,364,829$2,065,275$341,017$8,106,019
98$34,484,431$2,086,863$272,830$8,783,894
99$37,919,724$2,107,001$199,852$9,529,106
100$41,702,831$2,125,539$121,841$10,348,581