Can I retire at age 58 with 917,000?

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 $917,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$75,725$75,050$74,392$73,750$73,123$72,540
2 years$37,488$36,789$36,113$35,457$34,820$34,233
3 years$24,743$24,042$23,367$22,717$22,092$21,518
4 years$18,373$17,674$17,005$16,367$15,756$15,200
5 years$14,551$13,856$13,197$12,571$11,977$11,441
6 years$12,004$11,315$10,665$10,053$9,477$8,961
7 years$10,186$9,502$8,863$8,265$7,708$7,212
8 years$8,823$8,145$7,516$6,934$6,394$5,919
9 years$7,763$7,092$6,474$5,906$5,385$4,930
10 years$6,916$6,251$5,644$5,091$4,588$4,154
11 years$6,223$5,565$4,969$4,431$3,946$3,531
12 years$5,646$4,995$4,410$3,886$3,419$3,024
13 years$5,158$4,514$3,940$3,431$2,982$2,605
14 years$4,741$4,103$3,540$3,046$2,614$2,256
15 years$4,379$3,748$3,196$2,716$2,301$1,962
16 years$4,063$3,439$2,898$2,432$2,034$1,712
17 years$3,784$3,167$2,637$2,185$1,804$1,498
18 years$3,537$2,926$2,407$1,969$1,604$1,314
19 years$3,315$2,712$2,204$1,779$1,429$1,156
20 years$3,117$2,520$2,022$1,612$1,277$1,019
21 years$2,937$2,348$1,860$1,463$1,143$899
22 years$2,774$2,191$1,714$1,330$1,024$795
23 years$2,625$2,050$1,583$1,211$919$703
24 years$2,489$1,920$1,464$1,105$826$623
25 years$2,364$1,802$1,356$1,009$744$552
26 years$2,249$1,694$1,258$922$670$490
27 years$2,142$1,594$1,168$844$604$436
28 years$2,044$1,502$1,086$774$545$387
29 years$1,952$1,417$1,010$709$492$344
30 years$1,867$1,338$941$651$445$306
31 years$1,787$1,265$877$598$402$273
32 years$1,712$1,197$818$549$364$243
33 years$1,642$1,134$764$505$329$217
34 years$1,576$1,074$714$465$298$193
35 years$1,515$1,019$668$428$270$172
36 years$1,456$967$625$394$244$153
37 years$1,401$919$585$363$222$137
38 years$1,349$873$547$335$201$122
39 years$1,300$830$513$309$182$109
40 years$1,254$790$481$285$165$97
41 years$1,209$752$451$263$150$87
42 years$1,167$716$423$242$136$77
43 years$1,128$682$397$224$123$69
44 years$1,090$650$372$207$112$62
45 years$1,053$620$350$191$102$55
46 years$1,019$592$328$176$92$49
47 years$986$565$309$163$84$44
48 years$954$539$290$150$76$39
49 years$924$515$273$139$69$35
50 years$895$492$256$129$63$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $917,000, adding $6,147 every year, while hoping to spend $38,380 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: 76/9/15 Blend
57$917,000$917,000$917,000$917,000
58$1,016,875$968,274$954,060$1,090,419
59$1,079,760$974,883$945,185$1,146,437
60$1,147,773$980,530$934,726$1,202,423
61$1,221,397$985,127$922,591$1,262,753
62$1,301,161$988,580$908,680$1,327,846
63$1,387,650$990,791$892,891$1,398,165
64$1,481,504$991,654$875,117$1,474,223
65$1,583,430$991,057$855,245$1,556,581
66$1,694,202$988,881$833,158$1,645,861
67$1,814,675$985,001$808,734$1,742,746
68$1,945,788$979,282$781,842$1,847,990
69$2,088,574$971,582$752,349$1,962,424
70$2,244,170$961,750$720,114$2,086,966
71$2,413,827$949,628$684,990$2,222,625
72$2,598,923$935,046$646,822$2,370,515
73$2,800,973$917,823$605,452$2,531,865
74$3,021,648$897,771$560,709$2,708,027
75$3,262,782$874,689$512,419$2,900,495
76$3,526,399$848,362$460,399$3,110,913
77$3,814,727$818,566$404,456$3,341,097
78$4,130,215$785,062$344,392$3,593,046
79$4,475,564$747,598$279,997$3,868,964
80$4,853,747$705,905$211,052$4,171,284
81$5,268,038$659,703$137,331$4,502,685
82$5,722,041$608,692$58,595$4,866,121
83$6,219,728$552,556$0$5,264,850
84$6,765,470$490,962$0$5,706,533
85$7,364,086$423,557$0$6,201,331
86$8,020,879$349,967$0$6,744,265
87$8,741,693$269,800$0$7,340,190
88$9,532,965$182,639$0$7,994,459
89$10,401,784$88,046$0$8,712,967
90$11,355,962$0$0$9,502,211
91$12,404,101$0$0$10,370,782
92$13,555,680$0$0$11,334,689
93$14,821,141$0$0$12,393,956
94$16,211,986$0$0$13,558,217
95$17,740,889$0$0$14,838,084
96$19,421,811$0$0$16,245,252
97$21,270,134$0$0$17,792,602
98$23,302,807$0$0$19,494,326
99$25,538,500$0$0$21,366,064
100$27,997,787$0$0$23,425,043