Can I retire at age 58 with 879,000?

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 $879,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$72,587$71,940$71,310$70,694$70,093$69,332
2 years$35,934$35,265$34,616$33,987$33,377$32,611
3 years$23,718$23,046$22,399$21,776$21,176$20,429
4 years$17,611$16,941$16,301$15,688$15,103$14,380
5 years$13,948$13,282$12,650$12,050$11,481$10,784
6 years$11,507$10,846$10,223$9,637$9,085$8,415
7 years$9,764$9,108$8,495$7,923$7,388$6,746
8 years$8,457$7,808$7,205$6,646$6,129$5,515
9 years$7,441$6,798$6,206$5,661$5,162$4,574
10 years$6,629$5,992$5,410$4,880$4,398$3,838
11 years$5,965$5,334$4,763$4,247$3,782$3,249
12 years$5,412$4,788$4,227$3,725$3,278$2,770
13 years$4,945$4,327$3,777$3,289$2,858$2,376
14 years$4,544$3,933$3,393$2,919$2,506$2,047
15 years$4,197$3,593$3,064$2,604$2,206$1,772
16 years$3,894$3,296$2,778$2,331$1,950$1,539
17 years$3,627$3,036$2,528$2,095$1,729$1,340
18 years$3,390$2,805$2,307$1,888$1,537$1,170
19 years$3,178$2,600$2,112$1,706$1,370$1,024
20 years$2,987$2,416$1,939$1,545$1,224$897
21 years$2,815$2,250$1,783$1,402$1,095$788
22 years$2,659$2,101$1,643$1,275$982$693
23 years$2,516$1,965$1,517$1,161$881$610
24 years$2,386$1,841$1,403$1,059$792$537
25 years$2,266$1,727$1,300$967$713$474
26 years$2,156$1,624$1,205$884$642$418
27 years$2,054$1,528$1,119$809$579$370
28 years$1,959$1,440$1,041$742$522$327
29 years$1,871$1,358$968$680$472$289
30 years$1,789$1,283$902$624$426$256
31 years$1,713$1,213$841$573$385$226
32 years$1,641$1,147$785$527$348$200
33 years$1,574$1,087$733$484$315$178
34 years$1,511$1,030$684$446$286$157
35 years$1,452$977$640$410$259$139
36 years$1,396$927$599$378$234$124
37 years$1,343$881$560$348$212$110
38 years$1,294$837$525$321$193$97
39 years$1,246$796$492$296$175$86
40 years$1,202$757$461$273$158$76
41 years$1,159$721$432$252$144$68
42 years$1,119$686$405$232$130$60
43 years$1,081$654$380$214$118$53
44 years$1,044$623$357$198$107$47
45 years$1,010$594$335$183$97$42
46 years$977$567$315$169$89$37
47 years$945$541$296$156$80$33
48 years$915$517$278$144$73$29
49 years$886$493$261$133$66$26
50 years$858$471$246$123$60$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $879,000, adding $6,538 every year, while hoping to spend $34,162 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: 77/9/14 Blend
57$879,000$879,000$879,000$879,000
58$975,402$928,815$915,190$1,047,185
59$1,038,545$937,979$909,501$1,104,583
60$1,106,983$946,447$902,476$1,162,539
61$1,181,222$954,148$894,035$1,225,142
62$1,261,814$961,009$884,093$1,292,844
63$1,349,370$966,950$872,561$1,366,141
64$1,444,560$971,885$859,347$1,445,582
65$1,548,123$975,726$844,353$1,531,769
66$1,660,871$978,375$827,478$1,625,369
67$1,783,696$979,731$808,614$1,727,115
68$1,917,581$979,687$787,651$1,837,813
69$2,063,610$978,127$764,473$1,958,356
70$2,222,972$974,929$738,957$2,089,724
71$2,396,978$969,964$710,975$2,232,999
72$2,587,072$963,094$680,395$2,389,374
73$2,794,842$954,174$647,077$2,560,162
74$3,022,037$943,050$610,875$2,746,813
75$3,270,583$929,557$571,637$2,950,922
76$3,542,600$913,523$529,204$3,174,251
77$3,840,422$894,763$483,410$3,418,738
78$4,166,622$873,083$434,081$3,686,523
79$4,524,030$848,276$381,035$3,979,961
80$4,915,764$820,125$324,083$4,301,652
81$5,345,260$788,399$263,027$4,654,459
82$5,816,299$752,852$197,661$5,041,539
83$6,333,047$713,228$127,768$5,466,372
84$6,900,093$669,251$53,124$5,932,792
85$7,522,491$620,634$0$6,445,028
86$8,205,810$567,070$0$7,011,705
87$8,956,183$508,236$0$7,642,720
88$9,780,364$443,790$0$8,335,831
89$10,685,798$373,373$0$9,097,319
90$11,680,683$296,601$0$9,934,105
91$12,774,051$213,074$0$10,853,815
92$13,975,854$122,364$0$11,864,853
93$15,297,055$24,023$0$12,976,479
94$16,749,732$0$0$14,198,896
95$18,347,191$0$0$15,551,512
96$20,104,095$0$0$17,041,785
97$22,036,596$0$0$18,681,043
98$24,162,491$0$0$20,484,386
99$26,501,389$0$0$22,468,454
100$29,074,896$0$0$24,651,578