Can I retire at age 58 with 922,000?

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 $922,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$76,138$75,460$74,798$74,152$73,522$72,214
2 years$37,692$36,990$36,310$35,650$35,010$33,698
3 years$24,878$24,173$23,495$22,841$22,212$20,935
4 years$18,473$17,770$17,098$16,456$15,842$14,610
5 years$14,631$13,932$13,269$12,640$12,043$10,860
6 years$12,070$11,376$10,723$10,108$9,529$8,397
7 years$10,241$9,554$8,911$8,310$7,750$6,668
8 years$8,871$8,189$7,557$6,971$6,429$5,398
9 years$7,805$7,130$6,509$5,938$5,414$4,432
10 years$6,953$6,285$5,675$5,119$4,613$3,680
11 years$6,257$5,595$4,996$4,455$3,967$3,082
12 years$5,677$5,022$4,434$3,907$3,438$2,600
13 years$5,186$4,538$3,961$3,450$2,998$2,205
14 years$4,766$4,125$3,559$3,062$2,628$1,879
15 years$4,403$3,769$3,214$2,731$2,314$1,607
16 years$4,085$3,458$2,914$2,445$2,045$1,379
17 years$3,805$3,184$2,651$2,197$1,813$1,187
18 years$3,556$2,942$2,420$1,980$1,612$1,024
19 years$3,333$2,727$2,216$1,789$1,437$885
20 years$3,134$2,534$2,033$1,620$1,284$766
21 years$2,953$2,360$1,870$1,471$1,149$664
22 years$2,789$2,203$1,724$1,337$1,030$576
23 years$2,640$2,061$1,592$1,218$924$501
24 years$2,503$1,931$1,472$1,111$831$435
25 years$2,377$1,812$1,363$1,014$748$379
26 years$2,261$1,703$1,264$927$673$330
27 years$2,154$1,603$1,174$849$607$287
28 years$2,055$1,510$1,091$778$548$251
29 years$1,963$1,425$1,016$713$495$219
30 years$1,877$1,345$946$655$447$191
31 years$1,797$1,272$882$601$404$167
32 years$1,722$1,203$823$552$366$145
33 years$1,651$1,140$768$508$331$127
34 years$1,585$1,080$718$467$300$111
35 years$1,523$1,025$671$430$271$97
36 years$1,464$972$628$396$246$85
37 years$1,409$924$588$365$223$74
38 years$1,357$878$550$337$202$65
39 years$1,307$835$516$310$183$57
40 years$1,261$794$483$286$166$49
41 years$1,216$756$453$264$151$43
42 years$1,174$720$425$244$137$38
43 years$1,134$686$399$225$124$33
44 years$1,095$654$374$208$113$29
45 years$1,059$623$352$192$102$25
46 years$1,024$595$330$177$93$22
47 years$991$568$310$164$84$19
48 years$959$542$292$151$77$17
49 years$929$517$274$140$70$15
50 years$900$494$258$129$63$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $922,000, adding $6,946 every year, while hoping to spend $38,803 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: 36/44/20 Blend
57$922,000$922,000$922,000$922,000
58$1,023,209$974,343$960,052$1,053,622
59$1,086,290$980,800$950,927$1,082,890
60$1,154,505$986,272$940,197$1,110,345
61$1,228,336$990,671$927,765$1,139,183
62$1,308,315$993,902$913,534$1,169,552
63$1,395,024$995,864$897,398$1,201,614
64$1,489,105$996,450$879,249$1,235,553
65$1,591,264$995,546$858,974$1,271,572
66$1,702,276$993,032$836,453$1,309,899
67$1,822,996$988,778$811,562$1,350,787
68$1,954,362$982,649$784,170$1,394,520
69$2,097,408$974,500$754,141$1,441,413
70$2,253,272$964,179$721,333$1,491,818
71$2,423,205$951,522$685,597$1,546,124
72$2,608,584$936,359$646,777$1,604,767
73$2,810,925$918,506$604,709$1,668,231
74$3,031,898$897,771$559,225$1,737,054
75$3,273,339$873,949$510,146$1,811,833
76$3,537,270$846,824$457,287$1,893,233
77$3,825,919$816,166$400,454$1,981,991
78$4,141,738$781,733$339,444$2,078,926
79$4,487,426$743,269$274,046$2,184,949
80$4,865,956$700,501$204,039$2,301,066
81$5,280,601$653,144$129,193$2,428,397
82$5,734,967$600,893$49,265$2,568,182
83$6,233,025$543,427$0$2,721,797
84$6,779,147$480,408$0$2,898,456
85$7,378,149$411,478$0$3,103,876
86$8,035,337$336,257$0$3,329,464
87$8,756,553$254,345$0$3,577,352
88$9,548,234$165,321$0$3,849,898
89$10,417,470$68,738$0$4,149,709
90$11,372,071$0$0$4,479,666
91$12,420,639$0$0$4,860,321
92$13,572,652$0$0$5,315,231
93$14,838,552$0$0$5,815,255
94$16,229,841$0$0$6,364,955
95$17,759,190$0$0$6,969,355
96$19,440,561$0$0$7,633,993
97$21,289,334$0$0$8,364,966
98$23,322,457$0$0$9,168,997
99$25,558,598$0$0$10,053,489
100$28,018,330$0$0$11,026,601