Can I retire at age 58 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$75,642$74,969$74,311$73,670$73,043$70,961
2 years$37,447$36,749$36,073$35,418$34,782$32,701
3 years$24,717$24,016$23,342$22,693$22,067$20,052
4 years$18,353$17,654$16,987$16,349$15,739$13,804
5 years$14,535$13,841$13,183$12,557$11,964$10,116
6 years$11,991$11,302$10,653$10,042$9,467$7,707
7 years$10,175$9,492$8,853$8,256$7,699$6,028
8 years$8,813$8,136$7,508$6,926$6,387$4,803
9 years$7,755$7,084$6,467$5,899$5,379$3,881
10 years$6,908$6,244$5,638$5,085$4,583$3,169
11 years$6,216$5,559$4,963$4,426$3,942$2,609
12 years$5,640$4,989$4,405$3,882$3,416$2,162
13 years$5,153$4,509$3,936$3,427$2,979$1,801
14 years$4,735$4,098$3,536$3,042$2,611$1,507
15 years$4,374$3,744$3,193$2,713$2,299$1,265
16 years$4,058$3,435$2,895$2,429$2,032$1,065
17 years$3,780$3,164$2,634$2,183$1,802$898
18 years$3,533$2,923$2,404$1,967$1,602$760
19 years$3,312$2,709$2,201$1,777$1,428$643
20 years$3,113$2,518$2,020$1,610$1,275$546
21 years$2,934$2,345$1,858$1,461$1,141$463
22 years$2,771$2,189$1,713$1,328$1,023$394
23 years$2,622$2,047$1,581$1,210$918$335
24 years$2,486$1,918$1,462$1,103$825$285
25 years$2,362$1,800$1,354$1,008$743$243
26 years$2,247$1,692$1,256$921$669$207
27 years$2,140$1,592$1,166$843$603$177
28 years$2,042$1,500$1,084$773$544$151
29 years$1,950$1,415$1,009$709$491$128
30 years$1,865$1,337$940$650$444$110
31 years$1,785$1,264$876$597$401$94
32 years$1,710$1,196$818$549$363$80
33 years$1,640$1,132$763$505$329$68
34 years$1,575$1,073$713$464$298$58
35 years$1,513$1,018$667$428$270$50
36 years$1,455$966$624$394$244$42
37 years$1,400$918$584$363$221$36
38 years$1,348$872$547$334$201$31
39 years$1,299$829$512$308$182$26
40 years$1,252$789$480$284$165$23
41 years$1,208$751$450$262$150$19
42 years$1,166$715$422$242$136$17
43 years$1,126$681$396$224$123$14
44 years$1,088$650$372$206$112$12
45 years$1,052$619$349$191$102$10
46 years$1,018$591$328$176$92$9
47 years$985$564$308$163$84$8
48 years$953$538$290$150$76$6
49 years$923$514$272$139$69$6
50 years$894$491$256$128$63$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $916,000, adding $5,487 every year, while hoping to spend $47,537 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: 85/6/9 Blend
57$916,000$916,000$916,000$916,000
58$1,015,092$966,544$952,346$1,099,729
59$1,068,052$963,325$933,670$1,152,608
60$1,124,821$958,356$912,776$1,203,675
61$1,185,737$951,500$889,538$1,258,294
62$1,251,172$942,613$863,827$1,316,793
63$1,321,532$931,541$835,506$1,379,530
64$1,397,265$918,124$804,432$1,446,902
65$1,478,862$902,188$770,457$1,519,343
66$1,566,864$883,553$733,425$1,597,334
67$1,661,861$862,024$693,172$1,681,403
68$1,764,507$837,399$649,529$1,772,131
69$1,875,517$809,462$602,318$1,870,159
70$1,995,676$777,982$551,353$1,976,192
71$2,125,851$742,720$496,439$2,091,007
72$2,266,993$703,417$437,374$2,215,461
73$2,420,146$659,805$373,947$2,350,496
74$2,586,461$611,596$305,934$2,497,151
75$2,767,204$558,487$233,107$2,656,571
76$2,963,765$500,160$155,222$2,830,017
77$3,177,677$436,275$72,030$3,018,879
78$3,410,623$366,475$0$3,224,688
79$3,664,457$290,384$0$3,450,740
80$3,941,220$207,601$0$3,704,772
81$4,243,157$117,706$0$3,981,938
82$4,572,739$20,253$0$4,284,522
83$4,932,688$0$0$4,615,046
84$5,325,997$0$0$4,981,909
85$5,755,964$0$0$5,384,441
86$6,226,219$0$0$5,824,703
87$6,740,760$0$0$6,306,440
88$7,303,987$0$0$6,833,774
89$7,920,747$0$0$7,411,245
90$8,596,376$0$0$8,043,852
91$9,336,753$0$0$8,737,099
92$10,148,349$0$0$9,497,049
93$11,038,295$0$0$10,330,381
94$12,014,442$0$0$11,244,448
95$13,085,438$0$0$12,247,352
96$14,260,811$0$0$13,348,015
97$15,551,051$0$0$14,556,266
98$16,967,719$0$0$15,882,931
99$18,523,547$0$0$17,339,937
100$20,232,560$0$0$18,940,421