Can I retire at age 58 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$76,303$75,623$74,960$74,313$73,681$71,725
2 years$37,774$37,070$36,388$35,727$35,086$33,129
3 years$24,932$24,226$23,546$22,891$22,260$20,364
4 years$18,513$17,809$17,135$16,492$15,876$14,054
5 years$14,662$13,962$13,298$12,667$12,069$10,327
6 years$12,096$11,401$10,747$10,130$9,550$7,889
7 years$10,264$9,575$8,930$8,328$7,766$6,188
8 years$8,890$8,207$7,574$6,987$6,443$4,945
9 years$7,822$7,146$6,523$5,951$5,426$4,008
10 years$6,968$6,299$5,687$5,130$4,623$3,283
11 years$6,270$5,607$5,007$4,464$3,976$2,711
12 years$5,689$5,033$4,443$3,916$3,446$2,254
13 years$5,198$4,548$3,970$3,457$3,005$1,884
14 years$4,777$4,134$3,567$3,069$2,634$1,581
15 years$4,412$3,777$3,221$2,737$2,319$1,332
16 years$4,094$3,465$2,920$2,451$2,050$1,126
17 years$3,813$3,191$2,657$2,202$1,817$953
18 years$3,564$2,949$2,425$1,984$1,616$809
19 years$3,341$2,733$2,220$1,793$1,440$688
20 years$3,140$2,540$2,038$1,624$1,286$586
21 years$2,959$2,366$1,874$1,474$1,151$499
22 years$2,795$2,208$1,728$1,340$1,032$426
23 years$2,645$2,065$1,595$1,220$926$364
24 years$2,508$1,935$1,475$1,113$833$311
25 years$2,382$1,816$1,366$1,017$749$266
26 years$2,266$1,707$1,267$929$675$227
27 years$2,159$1,606$1,177$851$608$195
28 years$2,059$1,513$1,094$779$549$167
29 years$1,967$1,428$1,018$715$496$143
30 years$1,881$1,348$948$656$448$122
31 years$1,800$1,275$884$602$405$105
32 years$1,725$1,206$825$554$366$90
33 years$1,655$1,142$770$509$332$77
34 years$1,589$1,083$720$468$300$66
35 years$1,526$1,027$673$431$272$57
36 years$1,468$975$629$397$246$49
37 years$1,412$926$589$366$223$42
38 years$1,360$880$552$337$202$36
39 years$1,310$836$517$311$184$31
40 years$1,263$796$484$287$166$26
41 years$1,219$758$454$265$151$23
42 years$1,176$721$426$244$137$19
43 years$1,136$687$400$225$124$17
44 years$1,098$655$375$208$113$14
45 years$1,061$625$352$192$102$12
46 years$1,027$596$331$178$93$11
47 years$993$569$311$164$84$9
48 years$962$543$292$152$77$8
49 years$931$519$275$140$70$7
50 years$902$495$258$130$63$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $924,000, adding $6,199 every year, while hoping to spend $45,414 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: 74/15/11 Blend
57$924,000$924,000$924,000$924,000
58$1,024,642$975,670$961,348$1,097,835
59$1,080,836$975,158$945,233$1,146,480
60$1,141,239$973,098$927,056$1,193,479
61$1,206,233$969,368$906,701$1,243,715
62$1,276,237$963,835$884,043$1,297,496
63$1,351,711$956,361$858,956$1,355,159
64$1,433,160$946,797$831,306$1,417,080
65$1,521,139$934,988$800,952$1,483,671
66$1,616,259$920,766$767,748$1,555,385
67$1,719,190$903,956$731,540$1,632,726
68$1,830,670$884,372$692,169$1,716,246
69$1,951,508$861,816$649,466$1,806,558
70$2,082,596$836,079$603,258$1,904,334
71$2,224,914$806,941$553,360$2,010,319
72$2,379,541$774,166$499,583$2,125,334
73$2,547,661$737,507$441,726$2,250,284
74$2,730,580$696,702$379,581$2,386,169
75$2,929,733$651,474$312,931$2,534,090
76$3,146,699$601,530$241,548$2,695,264
77$3,383,217$546,560$165,194$2,871,033
78$3,641,200$486,237$83,623$3,062,878
79$3,922,754$420,213$0$3,272,432
80$4,230,196$348,124$0$3,501,899
81$4,566,077$269,584$0$3,763,366
82$4,933,207$184,184$0$4,049,234
83$5,334,678$91,493$0$4,361,956
84$5,773,895$0$0$4,704,238
85$6,254,607$0$0$5,080,537
86$6,780,943$0$0$5,509,124
87$7,357,448$0$0$5,978,604
88$7,989,130$0$0$6,493,059
89$8,681,502$0$0$7,056,984
90$9,440,636$0$0$7,675,330
91$10,273,221$0$0$8,353,552
92$11,186,623$0$0$9,097,656
93$12,188,957$0$0$9,914,258
94$13,289,160$0$0$10,810,645
95$14,497,077$0$0$11,794,845
96$15,823,552$0$0$12,875,701
97$17,280,533$0$0$14,062,955
98$18,881,180$0$0$15,367,338
99$20,639,990$0$0$16,800,672
100$22,572,937$0$0$18,375,980