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%13.8%
1 years$76,303$75,623$74,960$74,313$73,681$72,520
2 years$37,774$37,070$36,388$35,727$35,086$33,920
3 years$24,932$24,226$23,546$22,891$22,260$21,124
4 years$18,513$17,809$17,135$16,492$15,876$14,780
5 years$14,662$13,962$13,298$12,667$12,069$11,015
6 years$12,096$11,401$10,747$10,130$9,550$8,539
7 years$10,264$9,575$8,930$8,328$7,766$6,800
8 years$8,890$8,207$7,574$6,987$6,443$5,521
9 years$7,822$7,146$6,523$5,951$5,426$4,547
10 years$6,968$6,299$5,687$5,130$4,623$3,787
11 years$6,270$5,607$5,007$4,464$3,976$3,182
12 years$5,689$5,033$4,443$3,916$3,446$2,692
13 years$5,198$4,548$3,970$3,457$3,005$2,291
14 years$4,777$4,134$3,567$3,069$2,634$1,959
15 years$4,412$3,777$3,221$2,737$2,319$1,681
16 years$4,094$3,465$2,920$2,451$2,050$1,448
17 years$3,813$3,191$2,657$2,202$1,817$1,250
18 years$3,564$2,949$2,425$1,984$1,616$1,082
19 years$3,341$2,733$2,220$1,793$1,440$939
20 years$3,140$2,540$2,038$1,624$1,286$816
21 years$2,959$2,366$1,874$1,474$1,151$710
22 years$2,795$2,208$1,728$1,340$1,032$618
23 years$2,645$2,065$1,595$1,220$926$539
24 years$2,508$1,935$1,475$1,113$833$471
25 years$2,382$1,816$1,366$1,017$749$411
26 years$2,266$1,707$1,267$929$675$360
27 years$2,159$1,606$1,177$851$608$315
28 years$2,059$1,513$1,094$779$549$276
29 years$1,967$1,428$1,018$715$496$241
30 years$1,881$1,348$948$656$448$211
31 years$1,800$1,275$884$602$405$185
32 years$1,725$1,206$825$554$366$162
33 years$1,655$1,142$770$509$332$142
34 years$1,589$1,083$720$468$300$125
35 years$1,526$1,027$673$431$272$110
36 years$1,468$975$629$397$246$96
37 years$1,412$926$589$366$223$84
38 years$1,360$880$552$337$202$74
39 years$1,310$836$517$311$184$65
40 years$1,263$796$484$287$166$57
41 years$1,219$758$454$265$151$50
42 years$1,176$721$426$244$137$44
43 years$1,136$687$400$225$124$39
44 years$1,098$655$375$208$113$34
45 years$1,061$625$352$192$102$30
46 years$1,027$596$331$178$93$26
47 years$993$569$311$164$84$23
48 years$962$543$292$152$77$20
49 years$931$519$275$140$70$18
50 years$902$495$258$130$63$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $924,000, adding $3,869 every year, while hoping to spend $30,674 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: 35/36/29 Blend
57$924,000$924,000$924,000$924,000
58$1,022,239$973,267$958,945$1,048,981
59$1,093,870$988,320$958,433$1,084,450
60$1,171,780$1,003,083$956,875$1,119,672
61$1,256,576$1,017,508$954,205$1,157,093
62$1,348,928$1,031,547$950,352$1,196,928
63$1,449,571$1,045,145$945,241$1,239,421
64$1,559,316$1,058,246$938,795$1,284,838
65$1,679,054$1,070,788$930,933$1,333,477
66$1,809,767$1,082,707$921,569$1,385,665
67$1,952,536$1,093,932$910,614$1,441,767
68$2,108,550$1,104,389$897,974$1,502,186
69$2,279,117$1,114,000$883,552$1,567,367
70$2,465,681$1,122,680$867,245$1,637,803
71$2,669,829$1,130,339$848,946$1,714,042
72$2,893,307$1,136,882$828,541$1,796,687
73$3,138,042$1,142,207$805,915$1,886,408
74$3,406,153$1,146,206$780,944$1,983,944
75$3,699,975$1,148,763$753,499$2,090,114
76$4,022,077$1,149,758$723,447$2,205,824
77$4,375,292$1,149,059$690,645$2,332,074
78$4,762,738$1,146,529$654,948$2,469,971
79$5,187,851$1,142,023$616,202$2,620,739
80$5,654,413$1,135,383$574,247$2,785,731
81$6,166,593$1,126,447$528,914$2,966,441
82$6,728,982$1,115,039$480,028$3,164,523
83$7,346,636$1,100,973$427,407$3,381,801
84$8,025,126$1,084,055$370,859$3,620,294
85$8,770,591$1,064,075$310,184$3,882,230
86$9,589,790$1,040,814$245,174$4,170,072
87$10,490,172$1,014,037$175,611$4,486,538
88$11,479,943$983,499$101,268$4,834,633
89$12,568,144$948,937$21,907$5,217,673
90$13,764,735$910,074$0$5,639,323
91$15,080,689$866,619$0$6,123,054
92$16,528,096$818,261$0$6,662,401
93$18,120,279$764,672$0$7,255,591
94$19,871,913$705,507$0$7,908,155
95$21,799,169$640,398$0$8,626,190
96$23,919,866$568,959$0$9,416,421
97$26,253,635$490,781$0$10,286,266
98$28,822,108$405,432$0$11,243,904
99$31,649,120$312,454$0$12,298,355
100$34,760,931$211,366$0$13,459,564