Can I retire at age 58 with 923,000?

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 $923,000?

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$76,220$75,542$74,879$74,233$73,601$72,293
2 years$37,733$37,030$36,349$35,689$35,048$33,734
3 years$24,905$24,200$23,520$22,866$22,236$20,958
4 years$18,493$17,789$17,117$16,474$15,859$14,626
5 years$14,646$13,947$13,283$12,653$12,056$10,872
6 years$12,083$11,389$10,735$10,119$9,539$8,406
7 years$10,253$9,564$8,921$8,319$7,758$6,675
8 years$8,880$8,198$7,565$6,979$6,436$5,403
9 years$7,814$7,138$6,516$5,945$5,420$4,437
10 years$6,961$6,292$5,681$5,124$4,618$3,684
11 years$6,264$5,601$5,001$4,460$3,972$3,086
12 years$5,683$5,027$4,439$3,912$3,442$2,603
13 years$5,192$4,543$3,966$3,453$3,001$2,207
14 years$4,772$4,130$3,563$3,066$2,631$1,881
15 years$4,407$3,773$3,217$2,734$2,317$1,609
16 years$4,089$3,461$2,917$2,448$2,047$1,381
17 years$3,809$3,188$2,654$2,199$1,815$1,188
18 years$3,560$2,946$2,423$1,982$1,614$1,025
19 years$3,337$2,730$2,218$1,791$1,439$886
20 years$3,137$2,537$2,036$1,622$1,285$767
21 years$2,956$2,363$1,872$1,472$1,150$665
22 years$2,792$2,206$1,726$1,339$1,031$577
23 years$2,642$2,063$1,593$1,219$925$501
24 years$2,505$1,933$1,474$1,112$832$436
25 years$2,380$1,814$1,365$1,015$748$379
26 years$2,264$1,705$1,266$928$674$330
27 years$2,157$1,604$1,175$850$608$288
28 years$2,057$1,512$1,093$779$548$251
29 years$1,965$1,426$1,017$714$495$219
30 years$1,879$1,347$947$655$447$191
31 years$1,799$1,273$883$602$405$167
32 years$1,723$1,205$824$553$366$146
33 years$1,653$1,141$769$509$331$127
34 years$1,587$1,081$719$468$300$111
35 years$1,525$1,026$672$431$272$97
36 years$1,466$973$629$397$246$85
37 years$1,411$925$588$366$223$74
38 years$1,358$879$551$337$202$65
39 years$1,309$836$516$311$183$57
40 years$1,262$795$484$287$166$50
41 years$1,217$757$454$264$151$43
42 years$1,175$721$426$244$137$38
43 years$1,135$687$399$225$124$33
44 years$1,097$655$375$208$113$29
45 years$1,060$624$352$192$102$25
46 years$1,025$595$331$177$93$22
47 years$992$568$311$164$84$19
48 years$961$542$292$151$77$17
49 years$930$518$274$140$70$15
50 years$901$495$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 $923,000, adding $4,470 every year, while hoping to spend $32,924 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: 59/22/19 Blend
57$923,000$923,000$923,000$923,000
58$1,021,757$972,838$958,531$1,076,703
59$1,090,945$985,476$955,611$1,127,096
60$1,166,087$997,630$951,490$1,178,033
61$1,247,755$1,009,241$946,092$1,232,840
62$1,336,580$1,020,247$939,340$1,291,896
63$1,433,253$1,030,582$931,150$1,355,622
64$1,538,538$1,040,173$921,436$1,424,479
65$1,653,273$1,048,946$910,109$1,498,977
66$1,778,383$1,056,820$897,073$1,579,681
67$1,914,882$1,063,708$882,229$1,667,211
68$2,063,890$1,069,520$865,474$1,762,254
69$2,226,638$1,074,158$846,698$1,865,565
70$2,404,482$1,077,518$825,789$1,977,982
71$2,598,913$1,079,491$802,628$2,100,425
72$2,811,576$1,079,960$777,089$2,233,911
73$3,044,279$1,078,800$749,044$2,379,562
74$3,299,014$1,075,880$718,355$2,538,618
75$3,577,975$1,071,059$684,882$2,712,443
76$3,883,577$1,064,190$648,474$2,902,545
77$4,218,482$1,055,115$608,978$3,110,588
78$4,585,618$1,043,666$566,229$3,338,405
79$4,988,213$1,029,668$520,060$3,588,021
80$5,429,820$1,012,932$470,292$3,861,669
81$5,914,355$993,259$416,740$4,161,812
82$6,446,130$970,439$359,211$4,491,167
83$7,029,893$944,249$297,503$4,852,731
84$7,670,878$914,452$231,405$5,249,810
85$8,374,847$880,800$160,697$5,686,051
86$9,148,150$843,027$85,148$6,165,476
87$9,997,779$800,854$4,519$6,692,520
88$10,931,442$753,985$0$7,272,076
89$11,957,625$702,107$0$7,926,068
90$13,085,682$644,888$0$8,645,969
91$14,325,914$581,980$0$9,437,482
92$15,689,672$513,013$0$10,307,900
93$17,189,464$437,595$0$11,265,264
94$18,839,066$355,315$0$12,318,436
95$20,653,661$265,735$0$13,477,187
96$22,649,974$168,396$0$14,752,285
97$24,846,435$62,810$0$16,155,599
98$27,263,349$0$0$17,700,213
99$29,923,089$0$0$19,413,023
100$32,850,308$0$0$21,314,908