Can I retire at age 58 with 881,000?

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 $881,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$72,752$72,104$71,472$70,855$70,252$67,733
2 years$36,016$35,345$34,695$34,065$33,453$30,942
3 years$23,772$23,098$22,450$21,826$21,224$18,800
4 years$17,651$16,980$16,338$15,724$15,137$12,819
5 years$13,980$13,312$12,679$12,078$11,507$9,301
6 years$11,533$10,871$10,246$9,659$9,105$7,013
7 years$9,786$9,129$8,515$7,941$7,405$5,426
8 years$8,476$7,825$7,221$6,661$6,143$4,275
9 years$7,458$6,813$6,220$5,674$5,173$3,414
10 years$6,644$6,006$5,422$4,891$4,408$2,755
11 years$5,979$5,346$4,774$4,257$3,791$2,240
12 years$5,424$4,799$4,237$3,734$3,285$1,833
13 years$4,956$4,337$3,785$3,296$2,865$1,507
14 years$4,554$3,942$3,401$2,926$2,511$1,245
15 years$4,207$3,601$3,071$2,610$2,211$1,031
16 years$3,903$3,304$2,784$2,337$1,954$856
17 years$3,635$3,043$2,533$2,099$1,733$712
18 years$3,398$2,812$2,313$1,892$1,541$594
19 years$3,185$2,606$2,117$1,710$1,373$496
20 years$2,994$2,421$1,943$1,548$1,227$414
21 years$2,822$2,255$1,787$1,405$1,098$347
22 years$2,665$2,105$1,647$1,278$984$290
23 years$2,522$1,969$1,521$1,164$883$243
24 years$2,391$1,845$1,406$1,061$794$204
25 years$2,271$1,731$1,303$969$714$171
26 years$2,161$1,627$1,208$886$643$144
27 years$2,058$1,531$1,122$811$580$121
28 years$1,964$1,443$1,043$743$523$101
29 years$1,875$1,361$971$682$473$85
30 years$1,793$1,286$904$625$427$71
31 years$1,717$1,215$843$574$386$60
32 years$1,645$1,150$786$528$349$50
33 years$1,578$1,089$734$485$316$42
34 years$1,515$1,032$686$447$286$36
35 years$1,455$979$641$411$259$30
36 years$1,399$929$600$379$235$25
37 years$1,346$883$562$349$213$21
38 years$1,296$839$526$322$193$18
39 years$1,249$798$493$297$175$15
40 years$1,204$759$462$274$159$13
41 years$1,162$722$433$252$144$11
42 years$1,122$688$406$233$131$9
43 years$1,083$655$381$215$119$7
44 years$1,047$625$358$199$108$6
45 years$1,012$596$336$183$98$5
46 years$979$568$316$169$89$4
47 years$947$542$296$156$81$4
48 years$917$518$279$145$73$3
49 years$888$494$262$134$66$3
50 years$860$472$246$123$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $881,000, adding $4,817 every year, while hoping to spend $47,298 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: 58/20/22 Blend
57$881,000$881,000$881,000$881,000
58$975,831$929,138$915,482$1,026,419
59$1,025,041$924,341$895,826$1,056,617
60$1,077,685$917,724$873,926$1,084,018
61$1,134,064$909,147$849,658$1,112,861
62$1,194,506$898,463$822,890$1,143,295
63$1,259,375$885,516$793,485$1,175,487
64$1,329,065$870,141$761,300$1,209,623
65$1,404,012$852,160$726,187$1,245,911
66$1,484,694$831,389$687,987$1,284,583
67$1,571,637$807,631$646,538$1,325,895
68$1,665,416$780,677$601,669$1,370,133
69$1,766,665$750,307$553,202$1,417,615
70$1,876,079$716,286$500,949$1,468,695
71$1,994,424$678,369$444,716$1,523,766
72$2,122,541$636,294$384,299$1,583,264
73$2,261,352$589,785$319,485$1,647,674
74$2,411,876$538,550$250,053$1,717,534
75$2,575,228$482,281$175,771$1,793,440
76$2,752,639$420,650$96,397$1,876,055
77$2,945,460$353,313$11,678$1,966,114
78$3,155,178$279,907$0$2,064,430
79$3,383,430$200,046$0$2,190,389
80$3,632,016$113,325$0$2,330,636
81$3,902,917$19,313$0$2,483,602
82$4,198,314$0$0$2,650,586
83$4,520,606$0$0$2,851,165
84$4,872,435$0$0$3,074,836
85$5,256,709$0$0$3,319,206
86$5,676,628$0$0$3,586,320
87$6,135,716$0$0$3,878,429
88$6,637,853$0$0$4,198,012
89$7,187,312$0$0$4,547,798
90$7,788,796$0$0$4,930,793
91$8,447,486$0$0$5,350,305
92$9,169,085$0$0$5,809,979
93$9,959,876$0$0$6,313,829
94$10,826,777$0$0$6,866,275
95$11,777,408$0$0$7,472,187
96$12,820,162$0$0$8,136,927
97$13,964,283$0$0$8,866,401
98$15,219,953$0$0$9,667,116
99$16,598,388$0$0$10,546,239
100$18,111,942$0$0$11,511,665