Can I retire at age 58 with 921,000?

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 $921,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$76,055$75,378$74,717$74,072$73,442$71,062
2 years$37,651$36,950$36,270$35,611$34,972$32,597
3 years$24,851$24,147$23,469$22,817$22,188$19,892
4 years$18,453$17,751$17,080$16,438$15,825$13,625
5 years$14,615$13,917$13,255$12,626$12,030$9,933
6 years$12,057$11,364$10,712$10,097$9,519$7,526
7 years$10,230$9,544$8,901$8,301$7,741$5,853
8 years$8,861$8,181$7,549$6,964$6,422$4,636
9 years$7,797$7,123$6,502$5,932$5,408$3,723
10 years$6,946$6,278$5,669$5,113$4,608$3,021
11 years$6,250$5,589$4,991$4,450$3,963$2,471
12 years$5,671$5,017$4,429$3,903$3,434$2,034
13 years$5,181$4,534$3,957$3,446$2,995$1,683
14 years$4,761$4,121$3,555$3,059$2,625$1,398
15 years$4,398$3,764$3,210$2,728$2,311$1,166
16 years$4,080$3,454$2,910$2,443$2,043$974
17 years$3,800$3,181$2,648$2,195$1,811$816
18 years$3,552$2,939$2,418$1,978$1,611$685
19 years$3,330$2,724$2,213$1,787$1,436$576
20 years$3,130$2,531$2,031$1,619$1,282$485
21 years$2,950$2,358$1,868$1,469$1,147$408
22 years$2,786$2,201$1,722$1,336$1,029$344
23 years$2,637$2,058$1,590$1,216$923$291
24 years$2,500$1,929$1,470$1,109$830$245
25 years$2,374$1,810$1,362$1,013$747$207
26 years$2,259$1,701$1,263$926$673$175
27 years$2,152$1,601$1,173$848$606$148
28 years$2,053$1,509$1,090$777$547$125
29 years$1,961$1,423$1,015$712$494$106
30 years$1,875$1,344$945$654$446$90
31 years$1,795$1,271$881$601$404$76
32 years$1,720$1,202$822$552$365$64
33 years$1,649$1,138$768$508$330$55
34 years$1,583$1,079$717$467$299$46
35 years$1,521$1,023$670$430$271$39
36 years$1,463$971$627$396$246$33
37 years$1,408$923$587$365$223$28
38 years$1,355$877$550$336$202$24
39 years$1,306$834$515$310$183$20
40 years$1,259$793$483$286$166$17
41 years$1,215$755$453$264$151$14
42 years$1,173$719$425$243$137$12
43 years$1,132$685$398$225$124$10
44 years$1,094$653$374$208$113$9
45 years$1,058$623$351$192$102$7
46 years$1,023$594$330$177$93$6
47 years$990$567$310$164$84$5
48 years$958$541$291$151$76$5
49 years$928$517$274$140$69$4
50 years$899$494$257$129$63$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $921,000, adding $3,443 every year, while hoping to spend $56,972 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: 72/22/6 Blend
57$921,000$921,000$921,000$921,000
58$1,018,493$969,680$955,405$1,090,835
59$1,061,762$956,577$926,793$1,125,901
60$1,107,535$940,922$895,314$1,156,818
61$1,156,006$922,530$860,810$1,189,064
62$1,207,390$901,206$823,118$1,222,750
63$1,261,920$876,741$782,069$1,258,006
64$1,319,850$848,915$737,482$1,294,970
65$1,381,459$817,497$689,172$1,333,799
66$1,447,053$782,239$636,944$1,374,666
67$1,516,964$742,880$580,594$1,417,763
68$1,591,559$699,146$519,909$1,463,305
69$1,671,239$650,745$454,666$1,511,528
70$1,756,442$597,368$384,634$1,562,695
71$1,847,650$538,690$309,570$1,617,099
72$1,945,391$474,367$229,222$1,675,062
73$2,050,244$404,034$143,324$1,736,945
74$2,162,844$327,307$51,600$1,803,146
75$2,283,889$243,780$0$1,874,107
76$2,414,144$153,023$0$1,953,281
77$2,554,450$54,585$0$2,041,966
78$2,705,730$0$0$2,137,478
79$2,868,999$0$0$2,253,096
80$3,045,371$0$0$2,392,303
81$3,236,070$0$0$2,542,855
82$3,442,443$0$0$2,705,819
83$3,665,969$0$0$2,882,369
84$3,908,275$0$0$3,073,794
85$4,171,150$0$0$3,281,513
86$4,456,562$0$0$3,507,087
87$4,766,674$0$0$3,752,231
88$5,103,868$0$0$4,018,834
89$5,470,761$0$0$4,308,972
90$5,870,236$0$0$4,624,932
91$6,305,463$0$0$4,969,227
92$6,779,933$0$0$5,344,625
93$7,297,484$0$0$5,754,174
94$7,862,344$0$0$6,201,225
95$8,479,167$0$0$6,689,468
96$9,153,073$0$0$7,222,968
97$9,889,703$0$0$7,806,197
98$10,695,264$0$0$8,444,079
99$11,576,591$0$0$9,142,038
100$12,541,212$0$0$9,906,043