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%17.7%
1 years$76,055$75,378$74,717$74,072$73,442$71,148
2 years$37,651$36,950$36,270$35,611$34,972$32,682
3 years$24,851$24,147$23,469$22,817$22,188$19,972
4 years$18,453$17,751$17,080$16,438$15,825$13,701
5 years$14,615$13,917$13,255$12,626$12,030$10,004
6 years$12,057$11,364$10,712$10,097$9,519$7,592
7 years$10,230$9,544$8,901$8,301$7,741$5,914
8 years$8,861$8,181$7,549$6,964$6,422$4,694
9 years$7,797$7,123$6,502$5,932$5,408$3,776
10 years$6,946$6,278$5,669$5,113$4,608$3,070
11 years$6,250$5,589$4,991$4,450$3,963$2,516
12 years$5,671$5,017$4,429$3,903$3,434$2,075
13 years$5,181$4,534$3,957$3,446$2,995$1,721
14 years$4,761$4,121$3,555$3,059$2,625$1,432
15 years$4,398$3,764$3,210$2,728$2,311$1,196
16 years$4,080$3,454$2,910$2,443$2,043$1,002
17 years$3,800$3,181$2,648$2,195$1,811$841
18 years$3,552$2,939$2,418$1,978$1,611$708
19 years$3,330$2,724$2,213$1,787$1,436$596
20 years$3,130$2,531$2,031$1,619$1,282$503
21 years$2,950$2,358$1,868$1,469$1,147$425
22 years$2,786$2,201$1,722$1,336$1,029$359
23 years$2,637$2,058$1,590$1,216$923$304
24 years$2,500$1,929$1,470$1,109$830$257
25 years$2,374$1,810$1,362$1,013$747$218
26 years$2,259$1,701$1,263$926$673$185
27 years$2,152$1,601$1,173$848$606$157
28 years$2,053$1,509$1,090$777$547$133
29 years$1,961$1,423$1,015$712$494$113
30 years$1,875$1,344$945$654$446$96
31 years$1,795$1,271$881$601$404$81
32 years$1,720$1,202$822$552$365$69
33 years$1,649$1,138$768$508$330$58
34 years$1,583$1,079$717$467$299$50
35 years$1,521$1,023$670$430$271$42
36 years$1,463$971$627$396$246$36
37 years$1,408$923$587$365$223$30
38 years$1,355$877$550$336$202$26
39 years$1,306$834$515$310$183$22
40 years$1,259$793$483$286$166$19
41 years$1,215$755$453$264$151$16
42 years$1,173$719$425$243$137$13
43 years$1,132$685$398$225$124$11
44 years$1,094$653$374$208$113$10
45 years$1,058$623$351$192$102$8
46 years$1,023$594$330$177$93$7
47 years$990$567$310$164$84$6
48 years$958$541$291$151$76$5
49 years$928$517$274$140$69$4
50 years$899$494$257$129$63$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $921,000, adding $5,930 every year, while hoping to spend $28,049 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: 70/19/11 Blend
57$921,000$921,000$921,000$921,000
58$1,021,059$972,246$957,970$1,089,814
59$1,095,363$990,042$960,218$1,153,969
60$1,176,306$1,007,770$961,602$1,220,179
61$1,264,535$1,025,397$962,062$1,291,886
62$1,360,764$1,042,888$961,537$1,369,628
63$1,465,776$1,060,203$959,963$1,453,994
64$1,580,436$1,077,303$957,271$1,545,634
65$1,705,692$1,094,143$953,392$1,645,265
66$1,842,593$1,110,676$948,251$1,753,676
67$1,992,289$1,126,852$941,769$1,871,738
68$2,156,050$1,142,614$933,866$2,000,407
69$2,335,271$1,157,907$924,454$2,140,742
70$2,531,491$1,172,667$913,446$2,293,904
71$2,746,404$1,186,827$900,747$2,461,178
72$2,981,873$1,200,318$886,258$2,643,976
73$3,239,953$1,213,063$869,877$2,843,856
74$3,522,906$1,224,981$851,496$3,062,534
75$3,833,224$1,235,986$831,002$3,301,903
76$4,173,650$1,245,987$808,277$3,564,047
77$4,547,206$1,254,884$783,199$3,851,266
78$4,957,223$1,262,575$755,637$4,166,090
79$5,407,366$1,268,948$725,458$4,511,313
80$5,901,676$1,273,885$692,519$4,890,011
81$6,444,603$1,277,261$656,674$5,305,575
82$7,041,048$1,278,942$617,769$5,761,741
83$7,696,412$1,278,788$575,641$6,262,631
84$8,416,644$1,276,647$530,123$6,812,784
85$9,208,299$1,272,359$481,040$7,417,204
86$10,078,597$1,265,756$428,206$8,081,407
87$11,035,493$1,256,658$371,430$8,811,472
88$12,087,753$1,244,873$310,512$9,614,100
89$13,245,032$1,230,201$245,243$10,496,676
90$14,517,970$1,212,425$175,403$11,467,339
91$15,918,289$1,191,320$100,765$12,535,061
92$17,458,905$1,166,645$21,091$13,709,730
93$19,154,047$1,138,144$0$15,002,244
94$21,019,395$1,105,548$0$16,432,120
95$23,072,225$1,068,572$0$18,008,222
96$25,331,572$1,026,913$0$19,742,695
97$27,818,412$980,250$0$21,651,656
98$30,555,854$928,247$0$23,752,864
99$33,569,364$870,544$0$26,065,893
100$36,887,001$806,763$0$28,612,311