Can I retire at age 58 with 899,000?

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 $899,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$74,239$73,577$72,932$72,302$71,688$69,227
2 years$36,752$36,067$35,404$34,761$34,137$31,683
3 years$24,258$23,570$22,909$22,272$21,658$19,287
4 years$18,012$17,327$16,672$16,045$15,447$13,178
5 years$14,266$13,584$12,938$12,324$11,742$9,581
6 years$11,769$11,093$10,456$9,856$9,291$7,240
7 years$9,986$9,316$8,689$8,103$7,556$5,614
8 years$8,650$7,985$7,369$6,797$6,269$4,434
9 years$7,611$6,953$6,347$5,790$5,279$3,550
10 years$6,780$6,128$5,533$4,991$4,498$2,872
11 years$6,101$5,456$4,871$4,344$3,868$2,341
12 years$5,535$4,897$4,323$3,810$3,352$1,921
13 years$5,057$4,425$3,862$3,364$2,923$1,584
14 years$4,647$4,022$3,470$2,986$2,563$1,311
15 years$4,293$3,675$3,133$2,663$2,256$1,089
16 years$3,983$3,371$2,841$2,384$1,994$907
17 years$3,710$3,105$2,585$2,142$1,768$757
18 years$3,467$2,869$2,360$1,931$1,572$633
19 years$3,250$2,659$2,160$1,744$1,401$530
20 years$3,055$2,471$1,983$1,580$1,252$445
21 years$2,879$2,302$1,824$1,434$1,120$373
22 years$2,719$2,148$1,681$1,304$1,004$313
23 years$2,574$2,009$1,552$1,187$901$263
24 years$2,440$1,883$1,435$1,083$810$222
25 years$2,318$1,767$1,329$989$729$187
26 years$2,205$1,660$1,233$904$657$157
27 years$2,100$1,563$1,145$828$592$132
28 years$2,004$1,473$1,064$758$534$111
29 years$1,914$1,389$990$695$482$94
30 years$1,830$1,312$923$638$436$79
31 years$1,752$1,240$860$586$394$67
32 years$1,679$1,173$802$539$356$56
33 years$1,610$1,111$749$495$323$47
34 years$1,546$1,053$700$456$292$40
35 years$1,485$999$654$420$265$34
36 years$1,428$948$612$386$240$28
37 years$1,374$901$573$356$217$24
38 years$1,323$856$537$328$197$20
39 years$1,275$814$503$303$179$17
40 years$1,229$774$471$279$162$14
41 years$1,186$737$442$258$147$12
42 years$1,145$702$415$238$133$10
43 years$1,105$669$389$219$121$9
44 years$1,068$638$365$203$110$7
45 years$1,033$608$343$187$100$6
46 years$999$580$322$173$91$5
47 years$966$553$302$160$82$4
48 years$936$528$284$148$75$4
49 years$906$505$267$136$68$3
50 years$878$482$251$126$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $899,000, adding $6,720 every year, while hoping to spend $28,107 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: 54/31/15 Blend
57$899,000$899,000$899,000$899,000
58$997,630$949,983$936,048$1,047,183
59$1,069,482$966,626$937,500$1,098,352
60$1,147,722$983,143$938,059$1,150,440
61$1,232,970$999,498$937,664$1,206,500
62$1,325,911$1,015,652$936,254$1,266,917
63$1,427,299$1,031,563$933,763$1,332,117
64$1,537,961$1,047,188$930,123$1,402,567
65$1,658,811$1,062,478$925,260$1,478,783
66$1,790,853$1,077,382$919,099$1,561,336
67$1,935,193$1,091,847$911,562$1,650,853
68$2,093,048$1,105,813$902,564$1,748,027
69$2,265,759$1,119,218$892,021$1,853,623
70$2,454,803$1,131,995$879,839$1,968,482
71$2,661,803$1,144,074$865,924$2,093,534
72$2,888,551$1,155,377$850,176$2,229,804
73$3,137,017$1,165,825$832,491$2,378,424
74$3,409,372$1,175,330$812,760$2,540,638
75$3,708,008$1,183,801$790,867$2,717,824
76$4,035,557$1,191,139$766,693$2,911,498
77$4,394,921$1,197,242$740,114$3,123,332
78$4,789,293$1,201,997$710,998$3,355,171
79$5,222,192$1,205,286$679,208$3,609,051
80$5,697,496$1,206,986$644,602$3,887,214
81$6,219,474$1,206,961$607,030$4,192,136
82$6,792,831$1,205,072$566,335$4,526,546
83$7,422,747$1,201,168$522,354$4,893,454
84$8,114,931$1,195,090$474,917$5,296,178
85$8,875,673$1,186,668$423,846$5,738,378
86$9,711,900$1,175,723$368,954$6,224,090
87$10,631,247$1,162,066$310,046$6,757,766
88$11,642,121$1,145,495$246,920$7,344,311
89$12,753,790$1,125,796$179,364$7,989,138
90$13,976,460$1,102,744$107,156$8,698,214
91$15,321,378$1,076,098$30,065$9,478,118
92$16,800,937$1,045,605$0$10,336,103
93$18,428,789$1,010,996$0$11,288,525
94$20,219,978$971,987$0$12,341,525
95$22,191,079$928,278$0$13,500,052
96$24,360,355$879,550$0$14,774,869
97$26,747,930$825,466$0$16,177,843
98$29,375,976$765,671$0$17,722,052
99$32,268,925$699,789$0$19,421,912
100$35,453,698$627,421$0$21,293,314