Can I retire at age 58 with 891,000?

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 $891,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$73,578$72,923$72,283$71,659$71,050$68,886
2 years$36,425$35,746$35,089$34,451$33,833$31,672
3 years$24,042$23,361$22,705$22,073$21,465$19,374
4 years$17,852$17,173$16,523$15,903$15,309$13,304
5 years$14,139$13,463$12,823$12,215$11,638$9,724
6 years$11,664$10,994$10,363$9,768$9,209$7,388
7 years$9,897$9,233$8,611$8,031$7,489$5,762
8 years$8,573$7,914$7,303$6,737$6,213$4,578
9 years$7,543$6,891$6,290$5,738$5,232$3,688
10 years$6,720$6,074$5,484$4,947$4,458$3,002
11 years$6,046$5,407$4,828$4,305$3,834$2,463
12 years$5,486$4,853$4,285$3,776$3,323$2,034
13 years$5,012$4,386$3,828$3,334$2,897$1,689
14 years$4,606$3,987$3,440$2,959$2,540$1,408
15 years$4,255$3,642$3,105$2,639$2,236$1,178
16 years$3,947$3,341$2,816$2,363$1,976$988
17 years$3,677$3,077$2,562$2,123$1,752$831
18 years$3,436$2,843$2,339$1,913$1,558$700
19 years$3,221$2,635$2,141$1,729$1,389$590
20 years$3,028$2,449$1,965$1,566$1,240$499
21 years$2,854$2,281$1,807$1,421$1,110$422
22 years$2,695$2,129$1,666$1,292$995$357
23 years$2,551$1,991$1,538$1,177$893$303
24 years$2,419$1,866$1,422$1,073$803$257
25 years$2,297$1,751$1,317$980$722$218
26 years$2,185$1,646$1,222$896$651$185
27 years$2,082$1,549$1,135$820$587$157
28 years$1,986$1,459$1,055$752$529$133
29 years$1,897$1,377$982$689$478$113
30 years$1,814$1,300$914$633$432$96
31 years$1,736$1,229$852$581$391$82
32 years$1,664$1,163$795$534$353$70
33 years$1,596$1,101$743$491$320$59
34 years$1,532$1,044$694$452$289$50
35 years$1,472$990$649$416$262$43
36 years$1,415$940$607$383$238$36
37 years$1,362$893$568$353$215$31
38 years$1,311$848$532$325$195$26
39 years$1,263$807$498$300$177$22
40 years$1,218$767$467$277$161$19
41 years$1,175$730$438$255$146$16
42 years$1,134$696$411$236$132$14
43 years$1,096$663$385$217$120$12
44 years$1,059$632$362$201$109$10
45 years$1,023$603$340$185$99$9
46 years$990$575$319$171$90$7
47 years$958$549$300$158$81$6
48 years$927$524$282$146$74$5
49 years$898$500$265$135$67$4
50 years$870$478$249$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $891,000, adding $2,021 every year, while hoping to spend $52,600 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: 80/5/15 Blend
57$891,000$891,000$891,000$891,000
58$983,967$936,744$922,933$1,059,489
59$1,028,365$926,678$897,885$1,099,391
60$1,075,530$914,356$870,236$1,136,195
61$1,125,686$899,612$839,841$1,175,090
62$1,179,083$882,270$806,553$1,216,262
63$1,235,992$862,144$770,214$1,259,916
64$1,296,709$839,035$730,663$1,306,278
65$1,361,561$812,735$687,728$1,355,600
66$1,430,904$783,024$641,231$1,408,156
67$1,505,130$749,665$590,986$1,464,249
68$1,584,668$712,413$536,798$1,524,217
69$1,669,988$671,005$478,465$1,588,428
70$1,761,607$625,165$415,773$1,657,290
71$1,860,091$574,598$348,502$1,731,253
72$1,966,062$518,996$276,419$1,810,814
73$2,080,205$458,030$199,283$1,896,522
74$2,203,268$391,356$116,841$1,988,979
75$2,336,077$318,608$28,831$2,088,854
76$2,479,537$239,400$0$2,196,882
77$2,634,642$153,323$0$2,324,292
78$2,802,488$59,948$0$2,467,164
79$2,984,275$0$0$2,621,914
80$3,181,327$0$0$2,791,949
81$3,395,097$0$0$2,980,008
82$3,627,184$0$0$3,184,203
83$3,879,346$0$0$3,406,083
84$4,153,517$0$0$3,647,353
85$4,451,826$0$0$3,909,888
86$4,776,614$0$0$4,195,754
87$5,130,457$0$0$4,507,220
88$5,516,191$0$0$4,846,785
89$5,936,936$0$0$5,217,201
90$6,396,128$0$0$5,621,495
91$6,897,546$0$0$6,062,999
92$7,445,352$0$0$6,545,382
93$8,044,129$0$0$7,072,683
94$8,698,921$0$0$7,649,348
95$9,415,281$0$0$8,280,274
96$10,199,326$0$0$8,970,851
97$11,057,790$0$0$9,727,015
98$11,998,089$0$0$10,555,303
99$13,028,388$0$0$11,462,916
100$14,157,683$0$0$12,457,780