Can I retire at age 58 with 928,000?

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 $928,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$76,633$75,951$75,285$74,635$74,000$72,744
2 years$37,937$37,231$36,546$35,882$35,238$33,977
3 years$25,040$24,331$23,648$22,990$22,357$21,129
4 years$18,593$17,886$17,209$16,563$15,945$14,760
5 years$14,726$14,023$13,355$12,722$12,121$10,983
6 years$12,148$11,450$10,793$10,174$9,591$8,501
7 years$10,308$9,616$8,969$8,364$7,800$6,758
8 years$8,929$8,243$7,606$7,017$6,471$5,477
9 years$7,856$7,177$6,551$5,977$5,449$4,503
10 years$6,999$6,326$5,712$5,152$4,643$3,744
11 years$6,298$5,632$5,028$4,484$3,993$3,139
12 years$5,714$5,055$4,463$3,933$3,460$2,651
13 years$5,220$4,568$3,987$3,472$3,018$2,252
14 years$4,797$4,152$3,582$3,082$2,645$1,921
15 years$4,431$3,793$3,234$2,749$2,329$1,646
16 years$4,111$3,480$2,933$2,461$2,058$1,414
17 years$3,829$3,205$2,668$2,211$1,825$1,219
18 years$3,579$2,962$2,436$1,993$1,623$1,053
19 years$3,355$2,745$2,230$1,801$1,446$911
20 years$3,154$2,551$2,047$1,631$1,292$790
21 years$2,972$2,376$1,882$1,480$1,156$686
22 years$2,807$2,218$1,735$1,346$1,036$596
23 years$2,657$2,074$1,602$1,226$930$519
24 years$2,519$1,943$1,482$1,118$836$452
25 years$2,393$1,824$1,372$1,021$752$394
26 years$2,276$1,714$1,273$933$678$343
27 years$2,168$1,613$1,182$854$611$300
28 years$2,068$1,520$1,099$783$551$262
29 years$1,975$1,434$1,022$718$498$229
30 years$1,889$1,354$952$659$450$200
31 years$1,808$1,280$888$605$407$175
32 years$1,733$1,211$828$556$368$153
33 years$1,662$1,147$773$511$333$134
34 years$1,595$1,087$723$471$301$117
35 years$1,533$1,031$676$433$273$102
36 years$1,474$979$632$399$247$90
37 years$1,418$930$592$368$224$78
38 years$1,366$883$554$339$203$69
39 years$1,316$840$519$312$184$60
40 years$1,269$799$486$288$167$53
41 years$1,224$761$456$266$152$46
42 years$1,181$725$428$245$138$40
43 years$1,141$690$402$226$125$35
44 years$1,103$658$377$209$113$31
45 years$1,066$628$354$193$103$27
46 years$1,031$599$332$178$93$24
47 years$998$571$312$165$85$21
48 years$966$545$293$152$77$18
49 years$935$521$276$141$70$16
50 years$906$497$259$130$64$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $928,000, adding $3,939 every year, while hoping to spend $45,618 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: 65/25/10 Blend
57$928,000$928,000$928,000$928,000
58$1,026,719$977,535$963,151$1,091,006
59$1,082,907$976,897$946,879$1,133,713
60$1,143,298$974,699$928,534$1,174,623
61$1,208,271$970,816$907,996$1,218,152
62$1,278,244$965,116$885,144$1,264,551
63$1,353,677$957,459$859,849$1,314,098
64$1,435,074$947,695$831,975$1,367,103
65$1,522,987$935,668$801,382$1,423,906
66$1,618,026$921,210$767,922$1,484,883
67$1,720,859$904,144$731,442$1,550,452
68$1,832,222$884,282$691,781$1,621,074
69$1,952,922$861,426$648,769$1,697,258
70$2,083,849$835,365$602,232$1,779,568
71$2,225,980$805,876$551,985$1,868,626
72$2,380,390$772,724$497,837$1,965,121
73$2,548,262$735,660$439,586$2,069,815
74$2,730,897$694,419$377,024$2,183,548
75$2,929,726$648,722$309,932$2,307,251
76$3,146,324$598,276$238,080$2,441,950
77$3,382,424$542,767$161,232$2,588,781
78$3,639,935$481,866$79,137$2,749,000
79$3,920,956$415,225$0$2,923,990
80$4,227,798$342,476$0$3,116,189
81$4,563,005$263,229$0$3,335,453
82$4,929,379$177,074$0$3,575,227
83$5,330,003$83,578$0$3,837,608
84$5,768,271$0$0$4,124,906
85$6,247,924$0$0$4,444,546
86$6,773,076$0$0$4,819,742
87$7,348,262$0$0$5,230,745
88$7,978,473$0$0$5,681,132
89$8,669,208$0$0$6,174,839
90$9,426,520$0$0$6,716,202
91$10,257,080$0$0$7,309,997
92$11,168,232$0$0$7,961,485
93$12,168,067$0$0$8,676,460
94$13,265,496$0$0$9,461,303
95$14,470,336$0$0$10,323,046
96$15,793,400$0$0$11,269,432
97$17,246,600$0$0$12,308,993
98$18,843,058$0$0$13,451,126
99$20,597,230$0$0$14,706,185
100$22,525,041$0$0$16,085,577