Can I retire at age 58 with 912,000?

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 $912,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$75,312$74,641$73,987$73,348$72,724$72,357
2 years$37,283$36,589$35,916$35,263$34,631$34,260
3 years$24,609$23,911$23,240$22,594$21,971$21,608
4 years$18,273$17,577$16,913$16,277$15,670$15,318
5 years$14,472$13,781$13,125$12,503$11,912$11,572
6 years$11,939$11,253$10,607$9,998$9,426$9,098
7 years$10,130$9,450$8,814$8,220$7,666$7,351
8 years$8,775$8,101$7,475$6,896$6,359$6,057
9 years$7,721$7,053$6,438$5,874$5,355$5,066
10 years$6,878$6,217$5,613$5,063$4,563$4,286
11 years$6,189$5,535$4,942$4,406$3,924$3,659
12 years$5,615$4,968$4,386$3,865$3,401$3,147
13 years$5,130$4,489$3,918$3,412$2,966$2,724
14 years$4,715$4,081$3,521$3,029$2,600$2,369
15 years$4,355$3,728$3,179$2,701$2,289$2,070
16 years$4,041$3,420$2,882$2,419$2,023$1,815
17 years$3,763$3,150$2,622$2,173$1,794$1,596
18 years$3,517$2,911$2,394$1,959$1,595$1,407
19 years$3,297$2,697$2,192$1,770$1,422$1,244
20 years$3,100$2,507$2,011$1,603$1,270$1,101
21 years$2,921$2,335$1,850$1,455$1,136$977
22 years$2,759$2,179$1,705$1,323$1,019$868
23 years$2,611$2,038$1,574$1,205$914$772
24 years$2,476$1,910$1,456$1,099$822$688
25 years$2,351$1,792$1,349$1,003$739$613
26 years$2,237$1,684$1,251$917$666$547
27 years$2,131$1,585$1,161$840$601$489
28 years$2,033$1,494$1,080$769$542$437
29 years$1,941$1,409$1,005$705$489$391
30 years$1,856$1,331$936$647$442$350
31 years$1,777$1,258$872$595$400$313
32 years$1,703$1,190$814$547$362$281
33 years$1,633$1,127$760$503$327$251
34 years$1,568$1,068$710$462$296$225
35 years$1,506$1,013$664$426$268$202
36 years$1,448$962$621$392$243$181
37 years$1,394$914$581$361$220$163
38 years$1,342$868$544$333$200$146
39 years$1,293$826$510$307$181$131
40 years$1,247$785$478$283$164$118
41 years$1,203$748$448$261$149$106
42 years$1,161$712$420$241$135$95
43 years$1,121$678$395$223$123$85
44 years$1,084$647$370$205$111$77
45 years$1,048$617$348$190$101$69
46 years$1,013$588$327$175$92$62
47 years$980$561$307$162$83$56
48 years$949$536$288$150$76$50
49 years$919$512$271$138$69$45
50 years$890$489$255$128$62$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $912,000, adding $3,930 every year, while hoping to spend $49,156 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: 43/48/9 Blend
57$912,000$912,000$912,000$912,000
58$1,009,078$960,742$946,606$1,049,677
59$1,059,702$955,517$926,015$1,073,087
60$1,113,843$948,388$903,088$1,093,136
61$1,171,806$939,210$877,693$1,113,739
62$1,233,929$927,830$849,694$1,134,966
63$1,300,580$914,084$818,949$1,156,895
64$1,372,165$897,800$785,309$1,179,619
65$1,449,127$878,793$748,619$1,203,241
66$1,531,955$856,871$708,715$1,227,879
67$1,621,184$831,828$665,427$1,253,670
68$1,717,404$803,446$618,577$1,280,764
69$1,821,259$771,496$567,980$1,309,337
70$1,933,462$735,733$513,441$1,339,583
71$2,054,792$695,901$454,758$1,371,725
72$2,186,107$651,726$391,719$1,406,012
73$2,328,351$602,922$324,103$1,442,726
74$2,482,560$549,182$251,678$1,482,183
75$2,649,876$490,187$174,203$1,524,740
76$2,831,551$425,594$91,427$1,570,796
77$3,028,966$355,045$3,087$1,620,799
78$3,243,638$278,160$0$1,675,253
79$3,477,237$194,537$0$1,743,477
80$3,731,599$103,754$0$1,818,229
81$4,008,747$5,362$0$1,899,944
82$4,310,904$0$0$1,989,440
83$4,640,519$0$0$2,141,030
84$5,000,287$0$0$2,309,685
85$5,393,173$0$0$2,493,976
86$5,822,444$0$0$2,695,449
87$6,291,695$0$0$2,915,805
88$6,804,882$0$0$3,156,918
89$7,366,366$0$0$3,420,852
90$7,980,943$0$0$3,709,878
91$8,653,898$0$0$4,026,497
92$9,391,050$0$0$4,373,465
93$10,198,806$0$0$4,753,817
94$11,084,225$0$0$5,170,893
95$12,055,078$0$0$5,628,375
96$13,119,927$0$0$6,130,317
97$14,288,200$0$0$6,681,184
98$15,570,283$0$0$7,285,895
99$16,977,616$0$0$7,949,868
100$18,522,800$0$0$8,679,072