Can I retire at age 58 with 870,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.3%
1 years$71,844$71,204$70,579$69,970$69,375$67,047
2 years$35,566$34,904$34,262$33,639$33,036$30,713
3 years$23,475$22,810$22,170$21,553$20,959$18,715
4 years$17,431$16,768$16,134$15,528$14,948$12,800
5 years$13,805$13,146$12,521$11,927$11,363$9,316
6 years$11,389$10,735$10,118$9,538$8,992$7,047
7 years$9,664$9,015$8,408$7,842$7,313$5,471
8 years$8,371$7,728$7,131$6,578$6,066$4,326
9 years$7,365$6,728$6,142$5,603$5,109$3,468
10 years$6,561$5,931$5,355$4,830$4,353$2,809
11 years$5,904$5,280$4,714$4,204$3,744$2,293
12 years$5,357$4,739$4,184$3,687$3,244$1,884
13 years$4,894$4,282$3,738$3,255$2,829$1,555
14 years$4,498$3,893$3,359$2,890$2,480$1,290
15 years$4,154$3,556$3,032$2,577$2,183$1,073
16 years$3,854$3,263$2,749$2,307$1,930$895
17 years$3,590$3,005$2,502$2,073$1,711$748
18 years$3,355$2,776$2,284$1,868$1,521$626
19 years$3,145$2,573$2,091$1,688$1,356$525
20 years$2,957$2,391$1,919$1,529$1,211$441
21 years$2,786$2,227$1,765$1,388$1,084$371
22 years$2,632$2,079$1,627$1,262$972$312
23 years$2,491$1,945$1,502$1,149$872$263
24 years$2,362$1,822$1,389$1,048$784$221
25 years$2,243$1,710$1,286$957$705$187
26 years$2,134$1,607$1,193$875$635$157
27 years$2,033$1,512$1,108$801$573$133
28 years$1,939$1,425$1,030$734$517$112
29 years$1,852$1,344$958$673$467$95
30 years$1,771$1,270$893$618$422$80
31 years$1,695$1,200$832$567$381$67
32 years$1,624$1,136$777$521$345$57
33 years$1,558$1,075$725$479$312$48
34 years$1,496$1,019$677$441$283$41
35 years$1,437$967$633$406$256$34
36 years$1,382$918$593$374$232$29
37 years$1,330$872$555$345$210$25
38 years$1,280$828$519$318$191$21
39 years$1,234$788$487$293$173$18
40 years$1,189$749$456$270$157$15
41 years$1,147$713$428$249$142$12
42 years$1,108$679$401$230$129$11
43 years$1,070$647$376$212$117$9
44 years$1,034$617$353$196$106$8
45 years$999$588$332$181$97$6
46 years$967$561$312$167$88$5
47 years$935$536$293$154$80$5
48 years$905$511$275$143$72$4
49 years$877$488$259$132$66$3
50 years$849$466$243$122$60$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $870,000, adding $4,734 every year, while hoping to spend $20,347 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: 72/23/5 Blend
57$870,000$870,000$870,000$870,000
58$963,623$917,513$904,028$1,032,239
59$1,040,264$940,822$912,664$1,101,411
60$1,124,040$964,592$920,907$1,174,102
61$1,215,657$988,822$928,723$1,253,106
62$1,315,894$1,013,514$936,075$1,339,038
63$1,425,607$1,038,668$942,926$1,432,576
64$1,545,738$1,064,282$949,233$1,534,466
65$1,677,327$1,090,355$954,956$1,645,528
66$1,821,516$1,116,885$960,048$1,766,669
67$1,979,565$1,143,866$964,464$1,898,882
68$2,152,861$1,171,296$968,155$2,043,267
69$2,342,932$1,199,169$971,067$2,201,030
70$2,551,460$1,227,477$973,147$2,373,502
71$2,780,299$1,256,214$974,337$2,562,149
72$3,031,490$1,285,368$974,578$2,768,586
73$3,307,282$1,314,931$973,806$2,994,592
74$3,610,152$1,344,890$971,955$3,242,124
75$3,942,829$1,375,231$968,957$3,513,342
76$4,308,318$1,405,939$964,738$3,810,624
77$4,709,932$1,436,995$959,223$4,136,589
78$5,151,319$1,468,382$952,331$4,494,122
79$5,636,499$1,500,077$943,979$4,886,405
80$6,169,898$1,532,058$934,078$5,316,939
81$6,756,396$1,564,297$922,539$5,789,585
82$7,401,368$1,596,767$909,263$6,308,596
83$8,110,736$1,629,437$894,151$6,878,658
84$8,891,023$1,662,271$877,098$7,504,934
85$9,749,419$1,695,234$857,992$8,193,113
86$10,693,844$1,728,285$836,719$8,949,465
87$11,733,024$1,761,379$813,157$9,780,895
88$12,876,576$1,794,470$787,182$10,695,017
89$14,135,094$1,827,506$758,659$11,700,217
90$15,520,252$1,860,432$727,452$12,805,737
91$17,044,912$1,893,188$693,417$14,021,762
92$18,723,247$1,925,709$656,401$15,359,513
93$20,570,876$1,957,925$616,247$16,831,357
94$22,605,004$1,989,763$572,791$18,450,921
95$24,844,595$2,021,142$525,859$20,233,222
96$27,310,541$2,051,975$475,273$22,194,807
97$30,025,865$2,082,171$420,844$24,353,912
98$33,015,937$2,111,630$362,375$26,730,632
99$36,308,710$2,140,247$299,662$29,347,111
100$39,934,987$2,167,909$232,490$32,227,751