Can I retire at age 58 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$76,303$75,623$74,960$74,313$73,681$72,821
2 years$37,774$37,070$36,388$35,727$35,086$34,220
3 years$24,932$24,226$23,546$22,891$22,260$21,415
4 years$18,513$17,809$17,135$16,492$15,876$15,059
5 years$14,662$13,962$13,298$12,667$12,069$11,282
6 years$12,096$11,401$10,747$10,130$9,550$8,794
7 years$10,264$9,575$8,930$8,328$7,766$7,042
8 years$8,890$8,207$7,574$6,987$6,443$5,750
9 years$7,822$7,146$6,523$5,951$5,426$4,764
10 years$6,968$6,299$5,687$5,130$4,623$3,992
11 years$6,270$5,607$5,007$4,464$3,976$3,375
12 years$5,689$5,033$4,443$3,916$3,446$2,874
13 years$5,198$4,548$3,970$3,457$3,005$2,462
14 years$4,777$4,134$3,567$3,069$2,634$2,119
15 years$4,412$3,777$3,221$2,737$2,319$1,831
16 years$4,094$3,465$2,920$2,451$2,050$1,588
17 years$3,813$3,191$2,657$2,202$1,817$1,381
18 years$3,564$2,949$2,425$1,984$1,616$1,204
19 years$3,341$2,733$2,220$1,793$1,440$1,052
20 years$3,140$2,540$2,038$1,624$1,286$921
21 years$2,959$2,366$1,874$1,474$1,151$807
22 years$2,795$2,208$1,728$1,340$1,032$709
23 years$2,645$2,065$1,595$1,220$926$623
24 years$2,508$1,935$1,475$1,113$833$548
25 years$2,382$1,816$1,366$1,017$749$483
26 years$2,266$1,707$1,267$929$675$425
27 years$2,159$1,606$1,177$851$608$375
28 years$2,059$1,513$1,094$779$549$331
29 years$1,967$1,428$1,018$715$496$292
30 years$1,881$1,348$948$656$448$258
31 years$1,800$1,275$884$602$405$228
32 years$1,725$1,206$825$554$366$202
33 years$1,655$1,142$770$509$332$178
34 years$1,589$1,083$720$468$300$158
35 years$1,526$1,027$673$431$272$140
36 years$1,468$975$629$397$246$124
37 years$1,412$926$589$366$223$109
38 years$1,360$880$552$337$202$97
39 years$1,310$836$517$311$184$86
40 years$1,263$796$484$287$166$76
41 years$1,219$758$454$265$151$67
42 years$1,176$721$426$244$137$60
43 years$1,136$687$400$225$124$53
44 years$1,098$655$375$208$113$47
45 years$1,061$625$352$192$102$41
46 years$1,027$596$331$178$93$37
47 years$993$569$311$164$84$33
48 years$962$543$292$152$77$29
49 years$931$519$275$140$70$26
50 years$902$495$258$130$63$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $924,000, adding $4,191 every year, while hoping to spend $46,213 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: 66/21/13 Blend
57$924,000$924,000$924,000$924,000
58$1,022,571$973,599$959,277$1,086,740
59$1,077,703$972,135$942,243$1,128,612
60$1,136,910$969,051$923,089$1,168,548
61$1,200,558$964,217$901,695$1,211,032
62$1,269,050$957,499$877,937$1,256,311
63$1,342,828$948,752$851,683$1,304,657
64$1,422,378$937,823$822,797$1,356,370
65$1,508,234$924,549$791,134$1,411,785
66$1,600,982$908,760$756,544$1,471,270
67$1,701,265$890,272$718,872$1,535,231
68$1,809,792$868,894$677,952$1,604,121
69$1,927,342$844,420$633,614$1,678,436
70$2,054,769$816,635$585,679$1,758,729
71$2,193,015$785,310$533,959$1,845,607
72$2,343,116$750,203$478,259$1,939,745
73$2,506,208$711,058$418,376$2,041,887
74$2,683,545$667,603$354,095$2,152,854
75$2,876,504$619,553$285,194$2,273,557
76$3,086,601$566,605$211,442$2,405,000
77$3,315,503$508,438$132,594$2,548,294
78$3,565,047$444,713$48,399$2,704,664
79$3,837,252$375,075$0$2,875,466
80$4,134,342$299,144$0$3,067,947
81$4,458,765$216,521$0$3,285,550
82$4,813,214$126,786$0$3,523,419
83$5,200,656$29,493$0$3,783,616
84$5,624,357$0$0$4,068,410
85$6,087,912$0$0$4,397,830
86$6,595,281$0$0$4,765,904
87$7,150,823$0$0$5,168,985
88$7,759,339$0$0$5,610,564
89$8,426,117$0$0$6,094,487
90$9,156,978$0$0$6,624,986
91$9,958,337$0$0$7,206,725
92$10,837,255$0$0$7,844,841
93$11,801,513$0$0$8,544,990
94$12,859,679$0$0$9,313,403
95$14,021,192$0$0$10,156,944
96$15,296,449$0$0$11,083,174
97$16,696,903$0$0$12,100,422
98$18,235,170$0$0$13,217,862
99$19,925,148$0$0$14,445,601
100$21,782,149$0$0$15,794,774