Can I retire at age 58 with 878,000?

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 $878,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$72,504$71,859$71,228$70,613$70,013$67,637
2 years$35,893$35,225$34,577$33,949$33,340$30,969
3 years$23,691$23,020$22,374$21,751$21,152$18,862
4 years$17,591$16,922$16,282$15,671$15,086$12,894
5 years$13,932$13,267$12,636$12,037$11,468$9,380
6 years$11,494$10,834$10,212$9,626$9,074$7,092
7 years$9,753$9,098$8,486$7,914$7,380$5,502
8 years$8,447$7,799$7,197$6,639$6,122$4,348
9 years$7,433$6,790$6,198$5,655$5,156$3,483
10 years$6,622$5,985$5,404$4,874$4,393$2,819
11 years$5,958$5,328$4,758$4,242$3,778$2,300
12 years$5,406$4,782$4,222$3,721$3,274$1,889
13 years$4,939$4,322$3,772$3,285$2,855$1,558
14 years$4,539$3,928$3,389$2,916$2,503$1,291
15 years$4,193$3,589$3,060$2,601$2,204$1,073
16 years$3,890$3,293$2,775$2,329$1,948$894
17 years$3,623$3,032$2,525$2,092$1,727$747
18 years$3,386$2,802$2,305$1,886$1,535$625
19 years$3,174$2,597$2,110$1,704$1,369$524
20 years$2,984$2,413$1,936$1,543$1,222$440
21 years$2,812$2,248$1,781$1,400$1,094$369
22 years$2,656$2,098$1,642$1,273$981$310
23 years$2,514$1,962$1,516$1,160$880$261
24 years$2,383$1,839$1,402$1,058$791$220
25 years$2,264$1,725$1,298$966$712$185
26 years$2,153$1,622$1,204$883$641$156
27 years$2,051$1,526$1,118$808$578$132
28 years$1,957$1,438$1,039$741$522$111
29 years$1,869$1,357$967$679$471$94
30 years$1,787$1,281$901$623$426$79
31 years$1,711$1,211$840$572$385$67
32 years$1,639$1,146$784$526$348$56
33 years$1,572$1,085$732$484$315$47
34 years$1,509$1,029$684$445$285$40
35 years$1,450$976$639$410$258$34
36 years$1,394$926$598$377$234$29
37 years$1,342$880$560$348$212$24
38 years$1,292$836$524$321$192$20
39 years$1,245$795$491$296$174$17
40 years$1,200$756$460$273$158$15
41 years$1,158$720$432$251$144$12
42 years$1,118$686$405$232$130$10
43 years$1,080$653$380$214$118$9
44 years$1,043$623$357$198$107$7
45 years$1,009$594$335$183$97$6
46 years$975$566$314$169$88$5
47 years$944$541$295$156$80$4
48 years$914$516$278$144$73$4
49 years$885$493$261$133$66$3
50 years$857$471$245$123$60$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $878,000, adding $2,894 every year, while hoping to spend $51,217 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: 59/19/22 Blend
57$878,000$878,000$878,000$878,000
58$970,541$924,007$910,398$1,021,958
59$1,015,042$914,789$886,402$1,048,016
60$1,062,365$903,403$859,885$1,070,618
61$1,112,745$889,688$830,710$1,094,143
62$1,166,436$873,474$798,730$1,118,690
63$1,223,721$854,582$763,796$1,144,372
64$1,284,905$832,821$725,748$1,171,313
65$1,350,325$807,990$684,420$1,199,657
66$1,420,351$779,874$639,641$1,229,560
67$1,495,386$748,247$591,228$1,261,199
68$1,575,875$712,871$538,994$1,294,773
69$1,662,305$673,492$482,741$1,330,504
70$1,755,210$629,843$422,262$1,368,638
71$1,855,177$581,640$357,343$1,409,451
72$1,962,849$528,585$287,759$1,453,254
73$2,078,935$470,362$213,274$1,500,388
74$2,204,212$406,635$133,645$1,551,238
75$2,339,534$337,052$48,614$1,606,229
76$2,485,840$261,241$0$1,665,839
77$2,644,160$178,806$0$1,740,484
78$2,815,629$89,332$0$1,833,685
79$3,001,493$0$0$1,934,741
80$3,203,124$0$0$2,046,043
81$3,422,028$0$0$2,187,219
82$3,659,865$0$0$2,340,667
83$3,918,458$0$0$2,507,574
84$4,199,814$0$0$2,689,242
85$4,506,140$0$0$2,887,105
86$4,839,868$0$0$3,102,743
87$5,203,670$0$0$3,337,893
88$5,600,489$0$0$3,594,465
89$6,033,563$0$0$3,874,566
90$6,506,459$0$0$4,180,511
91$7,023,101$0$0$4,514,850
92$7,587,809$0$0$4,880,392
93$8,205,340$0$0$5,280,228
94$8,880,933$0$0$5,717,760
95$9,620,353$0$0$6,196,739
96$10,429,951$0$0$6,721,289
97$11,316,720$0$0$7,295,957
98$12,288,362$0$0$7,925,748
99$13,353,357$0$0$8,616,173
100$14,521,046$0$0$9,373,305