Can I retire at age 58 with 879,000?

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 $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%13.4%
1 years$72,587$71,940$71,310$70,694$70,093$69,102
2 years$35,934$35,265$34,616$33,987$33,377$32,382
3 years$23,718$23,046$22,399$21,776$21,176$20,206
4 years$17,611$16,941$16,301$15,688$15,103$14,165
5 years$13,948$13,282$12,650$12,050$11,481$10,579
6 years$11,507$10,846$10,223$9,637$9,085$8,219
7 years$9,764$9,108$8,495$7,923$7,388$6,560
8 years$8,457$7,808$7,205$6,646$6,129$5,338
9 years$7,441$6,798$6,206$5,661$5,162$4,407
10 years$6,629$5,992$5,410$4,880$4,398$3,679
11 years$5,965$5,334$4,763$4,247$3,782$3,099
12 years$5,412$4,788$4,227$3,725$3,278$2,629
13 years$4,945$4,327$3,777$3,289$2,858$2,243
14 years$4,544$3,933$3,393$2,919$2,506$1,923
15 years$4,197$3,593$3,064$2,604$2,206$1,655
16 years$3,894$3,296$2,778$2,331$1,950$1,429
17 years$3,627$3,036$2,528$2,095$1,729$1,238
18 years$3,390$2,805$2,307$1,888$1,537$1,075
19 years$3,178$2,600$2,112$1,706$1,370$935
20 years$2,987$2,416$1,939$1,545$1,224$815
21 years$2,815$2,250$1,783$1,402$1,095$711
22 years$2,659$2,101$1,643$1,275$982$621
23 years$2,516$1,965$1,517$1,161$881$544
24 years$2,386$1,841$1,403$1,059$792$476
25 years$2,266$1,727$1,300$967$713$417
26 years$2,156$1,624$1,205$884$642$366
27 years$2,054$1,528$1,119$809$579$321
28 years$1,959$1,440$1,041$742$522$282
29 years$1,871$1,358$968$680$472$248
30 years$1,789$1,283$902$624$426$218
31 years$1,713$1,213$841$573$385$192
32 years$1,641$1,147$785$527$348$169
33 years$1,574$1,087$733$484$315$148
34 years$1,511$1,030$684$446$286$131
35 years$1,452$977$640$410$259$115
36 years$1,396$927$599$378$234$101
37 years$1,343$881$560$348$212$89
38 years$1,294$837$525$321$193$79
39 years$1,246$796$492$296$175$69
40 years$1,202$757$461$273$158$61
41 years$1,159$721$432$252$144$54
42 years$1,119$686$405$232$130$47
43 years$1,081$654$380$214$118$42
44 years$1,044$623$357$198$107$37
45 years$1,010$594$335$183$97$32
46 years$977$567$315$169$89$29
47 years$945$541$296$156$80$25
48 years$915$517$278$144$73$22
49 years$886$493$261$133$66$20
50 years$858$471$246$123$60$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $879,000, adding $2,157 every year, while hoping to spend $49,668 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: 46/34/20 Blend
57$879,000$879,000$879,000$879,000
58$970,883$924,296$910,671$1,009,899
59$1,017,067$916,740$888,333$1,029,868
60$1,066,296$907,149$863,581$1,046,404
61$1,118,831$895,372$836,283$1,063,312
62$1,174,952$881,245$806,299$1,080,650
63$1,234,971$864,600$773,483$1,098,483
64$1,299,227$845,255$737,684$1,116,889
65$1,368,093$823,017$698,742$1,135,955
66$1,441,979$797,686$656,490$1,155,782
67$1,521,333$769,044$610,754$1,176,484
68$1,606,647$736,866$561,353$1,198,194
69$1,698,463$700,910$508,096$1,221,059
70$1,797,374$660,922$450,785$1,245,251
71$1,904,033$616,634$389,213$1,270,960
72$2,019,155$567,760$323,163$1,298,404
73$2,143,529$514,000$252,409$1,327,827
74$2,278,019$455,036$176,714$1,359,507
75$2,423,576$390,532$95,834$1,393,756
76$2,581,246$320,134$9,509$1,430,922
77$2,752,178$243,465$0$1,471,401
78$2,937,636$160,130$0$1,533,262
79$3,139,009$69,712$0$1,602,685
80$3,357,828$0$0$1,678,253
81$3,595,773$0$0$1,771,216
82$3,854,695$0$0$1,900,845
83$4,136,630$0$0$2,042,088
84$4,443,818$0$0$2,196,080
85$4,778,724$0$0$2,364,069
86$5,144,063$0$0$2,547,428
87$5,542,820$0$0$2,747,669
88$5,978,284$0$0$2,966,459
89$6,454,073$0$0$3,205,628
90$6,974,171$0$0$3,467,195
91$7,542,966$0$0$3,753,381
92$8,165,287$0$0$4,066,634
93$8,846,452$0$0$4,409,646
94$9,592,317$0$0$4,785,384
95$10,409,332$0$0$5,197,115
96$11,304,598$0$0$5,648,436
97$12,285,937$0$0$6,143,311
98$13,361,963$0$0$6,686,103
99$14,542,164$0$0$7,281,619
100$15,836,990$0$0$7,935,154