Can I retire at age 58 with 870,000?

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 $870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$71,844$71,204$70,579$69,970$69,375$66,967
2 years$35,566$34,904$34,262$33,639$33,036$30,634
3 years$23,475$22,810$22,170$21,553$20,959$18,640
4 years$17,431$16,768$16,134$15,528$14,948$12,729
5 years$13,805$13,146$12,521$11,927$11,363$9,250
6 years$11,389$10,735$10,118$9,538$8,992$6,986
7 years$9,664$9,015$8,408$7,842$7,313$5,414
8 years$8,371$7,728$7,131$6,578$6,066$4,274
9 years$7,365$6,728$6,142$5,603$5,109$3,419
10 years$6,561$5,931$5,355$4,830$4,353$2,764
11 years$5,904$5,280$4,714$4,204$3,744$2,252
12 years$5,357$4,739$4,184$3,687$3,244$1,847
13 years$4,894$4,282$3,738$3,255$2,829$1,522
14 years$4,498$3,893$3,359$2,890$2,480$1,259
15 years$4,154$3,556$3,032$2,577$2,183$1,045
16 years$3,854$3,263$2,749$2,307$1,930$870
17 years$3,590$3,005$2,502$2,073$1,711$725
18 years$3,355$2,776$2,284$1,868$1,521$606
19 years$3,145$2,573$2,091$1,688$1,356$507
20 years$2,957$2,391$1,919$1,529$1,211$425
21 years$2,786$2,227$1,765$1,388$1,084$356
22 years$2,632$2,079$1,627$1,262$972$299
23 years$2,491$1,945$1,502$1,149$872$251
24 years$2,362$1,822$1,389$1,048$784$211
25 years$2,243$1,710$1,286$957$705$178
26 years$2,134$1,607$1,193$875$635$149
27 years$2,033$1,512$1,108$801$573$126
28 years$1,939$1,425$1,030$734$517$106
29 years$1,852$1,344$958$673$467$89
30 years$1,771$1,270$893$618$422$75
31 years$1,695$1,200$832$567$381$63
32 years$1,624$1,136$777$521$345$53
33 years$1,558$1,075$725$479$312$45
34 years$1,496$1,019$677$441$283$38
35 years$1,437$967$633$406$256$32
36 years$1,382$918$593$374$232$27
37 years$1,330$872$555$345$210$23
38 years$1,280$828$519$318$191$19
39 years$1,234$788$487$293$173$16
40 years$1,189$749$456$270$157$14
41 years$1,147$713$428$249$142$11
42 years$1,108$679$401$230$129$10
43 years$1,070$647$376$212$117$8
44 years$1,034$617$353$196$106$7
45 years$999$588$332$181$97$6
46 years$967$561$312$167$88$5
47 years$935$536$293$154$80$4
48 years$905$511$275$143$72$3
49 years$877$488$259$132$66$3
50 years$849$466$243$122$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $870,000, adding $4,368 every year, while hoping to spend $43,140 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: 35/50/15 Blend
57$870,000$870,000$870,000$870,000
58$963,246$917,136$903,651$992,356
59$1,015,596$916,175$888,022$1,012,908
60$1,071,840$913,721$870,425$1,030,681
61$1,132,330$909,655$850,746$1,048,926
62$1,197,451$903,852$828,870$1,067,709
63$1,267,628$896,177$804,673$1,087,103
64$1,343,326$886,490$778,030$1,107,195
65$1,425,057$874,640$748,806$1,128,083
66$1,513,383$860,467$716,861$1,149,878
67$1,608,922$843,804$682,049$1,172,708
68$1,712,352$824,471$644,218$1,196,717
69$1,824,422$802,279$603,209$1,222,070
70$1,945,950$777,028$558,854$1,248,951
71$2,077,841$748,506$510,979$1,277,573
72$2,221,087$716,489$459,403$1,308,171
73$2,376,780$680,739$403,935$1,341,013
74$2,546,121$641,005$344,377$1,376,401
75$2,730,433$597,022$280,522$1,414,672
76$2,931,171$548,510$212,152$1,456,207
77$3,149,933$495,170$139,042$1,501,433
78$3,388,483$436,690$60,957$1,550,828
79$3,648,758$372,737$0$1,604,929
80$3,932,893$302,963$0$1,667,915
81$4,243,237$226,997$0$1,747,521
82$4,582,375$144,447$0$1,834,773
83$4,953,154$54,902$0$1,930,551
84$5,358,709$0$0$2,035,836
85$5,802,491$0$0$2,174,867
86$6,288,301$0$0$2,360,255
87$6,820,323$0$0$2,563,403
88$7,403,165$0$0$2,786,089
89$8,041,904$0$0$3,030,267
90$8,742,127$0$0$3,298,091
91$9,509,992$0$0$3,591,934
92$10,352,278$0$0$3,914,407
93$11,276,453$0$0$4,268,390
94$12,290,745$0$0$4,657,053
95$13,404,213$0$0$5,083,887
96$14,626,838$0$0$5,552,741
97$15,969,617$0$0$6,067,853
98$17,444,660$0$0$6,633,891
99$19,065,312$0$0$7,255,999
100$20,846,270$0$0$7,939,844