Can I retire at age 58 with 928,000?

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 $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%20%
1 years$76,633$75,951$75,285$74,635$74,000$71,036
2 years$37,937$37,231$36,546$35,882$35,238$32,289
3 years$25,040$24,331$23,648$22,990$22,357$19,515
4 years$18,593$17,886$17,209$16,563$15,945$13,233
5 years$14,726$14,023$13,355$12,722$12,121$9,546
6 years$12,148$11,450$10,793$10,174$9,591$7,154
7 years$10,308$9,616$8,969$8,364$7,800$5,500
8 years$8,929$8,243$7,606$7,017$6,471$4,305
9 years$7,856$7,177$6,551$5,977$5,449$3,415
10 years$6,999$6,326$5,712$5,152$4,643$2,737
11 years$6,298$5,632$5,028$4,484$3,993$2,209
12 years$5,714$5,055$4,463$3,933$3,460$1,795
13 years$5,220$4,568$3,987$3,472$3,018$1,465
14 years$4,797$4,152$3,582$3,082$2,645$1,200
15 years$4,431$3,793$3,234$2,749$2,329$986
16 years$4,111$3,480$2,933$2,461$2,058$812
17 years$3,829$3,205$2,668$2,211$1,825$671
18 years$3,579$2,962$2,436$1,993$1,623$554
19 years$3,355$2,745$2,230$1,801$1,446$459
20 years$3,154$2,551$2,047$1,631$1,292$381
21 years$2,972$2,376$1,882$1,480$1,156$316
22 years$2,807$2,218$1,735$1,346$1,036$262
23 years$2,657$2,074$1,602$1,226$930$218
24 years$2,519$1,943$1,482$1,118$836$181
25 years$2,393$1,824$1,372$1,021$752$151
26 years$2,276$1,714$1,273$933$678$125
27 years$2,168$1,613$1,182$854$611$104
28 years$2,068$1,520$1,099$783$551$87
29 years$1,975$1,434$1,022$718$498$72
30 years$1,889$1,354$952$659$450$60
31 years$1,808$1,280$888$605$407$50
32 years$1,733$1,211$828$556$368$42
33 years$1,662$1,147$773$511$333$35
34 years$1,595$1,087$723$471$301$29
35 years$1,533$1,031$676$433$273$24
36 years$1,474$979$632$399$247$20
37 years$1,418$930$592$368$224$17
38 years$1,366$883$554$339$203$14
39 years$1,316$840$519$312$184$12
40 years$1,269$799$486$288$167$10
41 years$1,224$761$456$266$152$8
42 years$1,181$725$428$245$138$7
43 years$1,141$690$402$226$125$6
44 years$1,103$658$377$209$113$5
45 years$1,066$628$354$193$103$4
46 years$1,031$599$332$178$93$3
47 years$998$571$312$165$85$3
48 years$966$545$293$152$77$2
49 years$935$521$276$141$70$2
50 years$906$497$259$130$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $928,000, adding $2,517 every year, while hoping to spend $45,950 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: 56/17/27 Blend
57$928,000$928,000$928,000$928,000
58$1,025,252$976,068$961,684$1,074,926
59$1,080,938$975,005$945,010$1,108,283
60$1,140,763$972,350$926,238$1,139,605
61$1,205,101$967,976$905,248$1,172,791
62$1,274,364$961,749$881,916$1,208,036
63$1,349,001$953,527$856,112$1,245,555
64$1,429,508$943,159$827,700$1,285,590
65$1,516,428$930,484$796,539$1,328,409
66$1,610,359$915,333$762,478$1,374,307
67$1,711,958$897,526$725,363$1,423,616
68$1,821,946$876,873$685,031$1,476,701
69$1,941,116$853,171$641,311$1,533,969
70$2,070,342$826,209$594,027$1,595,871
71$2,210,583$795,759$542,993$1,662,906
72$2,362,894$761,583$488,015$1,735,631
73$2,528,436$723,427$428,890$1,814,659
74$2,708,486$681,024$365,407$1,900,672
75$2,904,448$634,092$297,345$1,994,426
76$3,117,869$582,330$224,474$2,096,755
77$3,350,450$525,422$146,552$2,208,588
78$3,604,063$463,035$63,328$2,330,949
79$3,880,768$394,814$0$2,464,975
80$4,182,834$320,387$0$2,619,264
81$4,512,756$239,359$0$2,807,811
82$4,873,283$151,314$0$3,013,976
83$5,267,441$55,811$0$3,239,545
84$5,698,562$0$0$3,486,491
85$6,170,313$0$0$3,765,897
86$6,686,733$0$0$4,083,270
87$7,252,270$0$0$4,430,911
88$7,871,821$0$0$4,811,844
89$8,550,782$0$0$5,229,394
90$9,295,091$0$0$5,687,227
91$10,111,292$0$0$6,189,379
92$11,006,590$0$0$6,740,295
93$11,988,924$0$0$7,344,872
94$13,067,034$0$0$8,008,503
95$14,250,553$0$0$8,737,130
96$15,550,086$0$0$9,537,297
97$16,977,320$0$0$10,416,214
98$18,545,127$0$0$11,381,823
99$20,267,689$0$0$12,442,874
100$22,160,627$0$0$13,609,005