Can I retire at age 58 with 929,000?

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 $929,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$76,716$76,033$75,366$74,715$74,080$72,318
2 years$37,978$37,271$36,585$35,921$35,276$33,512
3 years$25,067$24,357$23,673$23,015$22,381$20,668
4 years$18,613$17,905$17,228$16,581$15,962$14,315
5 years$14,742$14,038$13,370$12,736$12,134$10,557
6 years$12,161$11,463$10,805$10,185$9,601$8,096
7 years$10,319$9,626$8,979$8,374$7,808$6,375
8 years$8,938$8,252$7,615$7,024$6,478$5,116
9 years$7,865$7,185$6,559$5,983$5,455$4,164
10 years$7,006$6,333$5,718$5,158$4,648$3,425
11 years$6,304$5,638$5,034$4,489$3,998$2,842
12 years$5,720$5,060$4,467$3,937$3,464$2,373
13 years$5,226$4,573$3,991$3,476$3,021$1,993
14 years$4,803$4,157$3,586$3,086$2,648$1,681
15 years$4,436$3,797$3,238$2,752$2,332$1,423
16 years$4,116$3,484$2,936$2,464$2,061$1,208
17 years$3,833$3,208$2,671$2,214$1,827$1,029
18 years$3,583$2,965$2,439$1,995$1,625$878
19 years$3,359$2,748$2,232$1,803$1,448$750
20 years$3,157$2,553$2,049$1,633$1,293$642
21 years$2,975$2,378$1,884$1,482$1,157$550
22 years$2,810$2,220$1,737$1,347$1,037$472
23 years$2,660$2,076$1,604$1,227$931$405
24 years$2,522$1,945$1,483$1,119$837$348
25 years$2,395$1,826$1,374$1,022$753$300
26 years$2,278$1,716$1,274$934$678$258
27 years$2,171$1,615$1,183$855$612$222
28 years$2,071$1,522$1,100$784$552$191
29 years$1,978$1,435$1,023$719$498$165
30 years$1,891$1,356$953$660$450$142
31 years$1,810$1,282$889$606$407$122
32 years$1,735$1,213$829$557$368$105
33 years$1,664$1,148$774$512$333$91
34 years$1,597$1,088$723$471$302$78
35 years$1,534$1,032$676$434$273$68
36 years$1,475$980$633$399$248$58
37 years$1,420$931$592$368$224$50
38 years$1,367$884$555$339$203$44
39 years$1,317$841$520$313$185$38
40 years$1,270$800$487$288$167$32
41 years$1,225$762$457$266$152$28
42 years$1,183$725$428$246$138$24
43 years$1,142$691$402$227$125$21
44 years$1,104$659$377$209$114$18
45 years$1,067$628$354$193$103$16
46 years$1,032$599$333$179$94$13
47 years$999$572$313$165$85$12
48 years$967$546$294$152$77$10
49 years$936$521$276$141$70$9
50 years$907$498$260$130$64$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $929,000, adding $2,725 every year, while hoping to spend $50,393 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: 71/6/23 Blend
57$929,000$929,000$929,000$929,000
58$1,026,569$977,332$962,932$1,093,382
59$1,077,661$971,603$941,573$1,132,607
60$1,132,276$963,905$917,809$1,169,345
61$1,190,719$954,088$891,506$1,208,347
62$1,253,326$941,992$862,526$1,249,831
63$1,320,466$927,450$830,721$1,294,041
64$1,392,542$910,284$795,939$1,341,246
65$1,469,998$890,304$758,019$1,391,741
66$1,553,319$867,310$716,794$1,445,856
67$1,643,041$841,092$672,090$1,503,953
68$1,739,750$811,424$623,724$1,566,436
69$1,844,090$778,069$571,504$1,633,747
70$1,956,770$740,778$515,233$1,706,379
71$2,078,568$699,283$454,700$1,784,872
72$2,210,339$653,305$389,689$1,869,829
73$2,353,022$602,546$319,973$1,961,910
74$2,507,652$546,692$245,314$2,061,850
75$2,675,365$485,412$165,464$2,170,458
76$2,857,410$418,356$80,165$2,288,628
77$3,055,163$345,152$0$2,417,348
78$3,270,135$265,409$0$2,560,377
79$3,503,989$178,715$0$2,737,422
80$3,758,556$84,632$0$2,930,193
81$4,035,849$0$0$3,140,236
82$4,338,084$0$0$3,370,396
83$4,667,701$0$0$3,627,545
84$5,027,383$0$0$3,908,194
85$5,420,086$0$0$4,214,654
86$5,849,061$0$0$4,549,470
87$6,317,890$0$0$4,915,442
88$6,830,515$0$0$5,315,654
89$7,391,275$0$0$5,753,501
90$8,004,951$0$0$6,232,721
91$8,676,804$0$0$6,757,431
92$9,412,629$0$0$7,332,165
93$10,218,809$0$0$7,961,913
94$11,102,371$0$0$8,652,175
95$12,071,055$0$0$9,409,005
96$13,133,387$0$0$10,239,072
97$14,298,756$0$0$11,149,722
98$15,577,504$0$0$12,149,046
99$16,981,023$0$0$13,245,956
100$18,521,861$0$0$14,450,268