Can I retire at age 58 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$74,073$73,414$72,770$72,142$71,528$69,377
2 years$36,670$35,987$35,325$34,683$34,061$31,912
3 years$24,204$23,518$22,858$22,222$21,610$19,530
4 years$17,972$17,288$16,635$16,010$15,412$13,418
5 years$14,234$13,554$12,909$12,297$11,716$9,813
6 years$11,743$11,068$10,432$9,834$9,271$7,460
7 years$9,964$9,295$8,669$8,085$7,539$5,821
8 years$8,630$7,967$7,352$6,782$6,255$4,628
9 years$7,594$6,937$6,333$5,777$5,267$3,730
10 years$6,765$6,115$5,521$4,980$4,488$3,038
11 years$6,087$5,444$4,861$4,334$3,860$2,495
12 years$5,523$4,886$4,314$3,802$3,345$2,062
13 years$5,046$4,415$3,854$3,356$2,917$1,713
14 years$4,637$4,013$3,463$2,979$2,557$1,429
15 years$4,283$3,666$3,126$2,657$2,251$1,196
16 years$3,974$3,364$2,835$2,379$1,990$1,004
17 years$3,701$3,098$2,579$2,138$1,764$845
18 years$3,459$2,863$2,355$1,926$1,569$712
19 years$3,243$2,653$2,156$1,741$1,398$601
20 years$3,049$2,465$1,978$1,576$1,249$509
21 years$2,873$2,296$1,820$1,431$1,118$430
22 years$2,713$2,144$1,677$1,301$1,002$365
23 years$2,568$2,005$1,548$1,185$899$309
24 years$2,435$1,878$1,432$1,081$808$262
25 years$2,313$1,763$1,326$987$727$223
26 years$2,200$1,657$1,230$902$655$189
27 years$2,096$1,559$1,142$826$591$161
28 years$1,999$1,469$1,062$757$533$137
29 years$1,909$1,386$988$694$481$116
30 years$1,826$1,309$920$637$435$99
31 years$1,748$1,237$858$585$393$84
32 years$1,675$1,171$801$538$356$72
33 years$1,606$1,109$748$494$322$61
34 years$1,542$1,051$698$455$291$52
35 years$1,482$997$653$419$264$44
36 years$1,425$946$611$386$239$38
37 years$1,371$899$572$355$217$32
38 years$1,320$854$535$327$196$27
39 years$1,272$812$502$302$178$23
40 years$1,226$773$470$278$162$20
41 years$1,183$735$441$257$147$17
42 years$1,142$700$414$237$133$14
43 years$1,103$667$388$219$121$12
44 years$1,066$636$364$202$110$10
45 years$1,030$607$342$187$99$9
46 years$997$579$321$172$90$8
47 years$964$552$302$159$82$6
48 years$933$527$284$147$74$5
49 years$904$503$267$136$68$5
50 years$876$481$251$126$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $897,000, adding $4,407 every year, while hoping to spend $36,722 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: 62/9/29 Blend
57$897,000$897,000$897,000$897,000
58$993,040$945,499$931,595$1,046,610
59$1,055,258$952,756$923,732$1,090,823
60$1,122,592$959,139$914,374$1,134,721
61$1,195,524$964,564$903,433$1,181,883
62$1,274,585$968,946$890,817$1,232,635
63$1,360,361$972,192$876,427$1,287,338
64$1,453,491$974,204$860,161$1,346,391
65$1,554,685$974,876$841,913$1,410,236
66$1,664,717$974,100$821,572$1,479,359
67$1,784,443$971,756$799,020$1,554,299
68$1,914,804$967,720$774,135$1,635,649
69$2,056,835$961,859$746,789$1,724,067
70$2,211,675$954,033$716,849$1,820,277
71$2,380,577$944,092$684,175$1,925,081
72$2,564,922$931,878$648,621$2,039,361
73$2,766,228$917,224$610,033$2,164,095
74$2,986,167$899,952$568,253$2,300,360
75$3,226,580$879,873$523,114$2,449,347
76$3,489,493$856,790$474,441$2,612,369
77$3,777,139$830,490$422,052$2,790,877
78$4,091,974$800,750$365,757$2,986,471
79$4,436,703$767,334$305,357$3,200,918
80$4,814,305$729,993$240,646$3,436,168
81$5,228,063$688,461$171,406$3,694,373
82$5,681,589$642,459$97,412$3,977,908
83$6,178,863$591,691$18,427$4,289,394
84$6,724,268$535,845$0$4,631,722
85$7,322,632$474,590$0$5,028,463
86$7,979,272$407,577$0$5,470,166
87$8,700,046$334,437$0$5,955,090
88$9,491,406$254,780$0$6,487,607
89$10,360,460$168,194$0$7,072,532
90$11,315,036$74,245$0$7,715,173
91$12,363,760$0$0$8,421,379
92$13,516,134$0$0$9,200,322
93$14,782,625$0$0$10,064,554
94$16,174,764$0$0$11,014,601
95$17,705,258$0$0$12,059,141
96$19,388,104$0$0$13,207,738
97$21,238,722$0$0$14,470,926
98$23,274,104$0$0$15,860,313
99$25,512,969$0$0$17,388,689
100$27,975,943$0$0$19,070,143