Can I retire at age 58 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$72,917$72,268$71,634$71,016$70,412$67,645
2 years$36,098$35,425$34,774$34,142$33,529$30,776
3 years$23,826$23,151$22,501$21,875$21,272$18,618
4 years$17,691$17,018$16,375$15,760$15,172$12,638
5 years$14,012$13,343$12,708$12,105$11,533$9,126
6 years$11,559$10,895$10,270$9,681$9,126$6,847
7 years$9,808$9,150$8,534$7,959$7,422$5,270
8 years$8,496$7,843$7,238$6,677$6,157$4,130
9 years$7,475$6,829$6,234$5,687$5,185$3,280
10 years$6,659$6,019$5,435$4,902$4,418$2,632
11 years$5,992$5,359$4,785$4,266$3,800$2,128
12 years$5,437$4,810$4,246$3,742$3,293$1,731
13 years$4,967$4,346$3,794$3,304$2,871$1,414
14 years$4,565$3,951$3,409$2,933$2,517$1,160
15 years$4,216$3,609$3,078$2,615$2,216$955
16 years$3,912$3,311$2,790$2,342$1,959$788
17 years$3,644$3,050$2,539$2,104$1,737$651
18 years$3,405$2,818$2,318$1,896$1,544$539
19 years$3,192$2,612$2,122$1,713$1,376$447
20 years$3,001$2,427$1,947$1,552$1,229$371
21 years$2,828$2,261$1,791$1,408$1,100$308
22 years$2,671$2,110$1,651$1,281$986$257
23 years$2,528$1,974$1,524$1,166$885$213
24 years$2,397$1,849$1,410$1,064$796$178
25 years$2,277$1,735$1,306$971$716$148
26 years$2,166$1,631$1,211$888$645$123
27 years$2,063$1,535$1,124$813$581$103
28 years$1,968$1,446$1,045$745$525$86
29 years$1,880$1,364$973$683$474$71
30 years$1,797$1,289$906$627$428$60
31 years$1,721$1,218$845$576$387$50
32 years$1,649$1,153$788$529$350$41
33 years$1,581$1,092$736$487$317$35
34 years$1,518$1,034$688$448$287$29
35 years$1,459$981$643$412$260$24
36 years$1,402$931$601$380$235$20
37 years$1,349$885$563$350$213$17
38 years$1,299$841$527$322$193$14
39 years$1,252$799$494$297$175$12
40 years$1,207$761$463$274$159$10
41 years$1,165$724$434$253$144$8
42 years$1,124$689$407$233$131$7
43 years$1,086$657$382$215$119$6
44 years$1,049$626$359$199$108$5
45 years$1,014$597$337$184$98$4
46 years$981$570$316$170$89$3
47 years$949$544$297$157$81$3
48 years$919$519$279$145$73$2
49 years$890$496$262$134$67$2
50 years$862$473$247$124$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $883,000, adding $2,583 every year, while hoping to spend $23,388 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: 35/47/18 Blend
57$883,000$883,000$883,000$883,000
58$975,730$928,931$915,245$1,004,421
59$1,050,370$949,564$921,021$1,046,241
60$1,131,839$970,424$926,207$1,088,963
61$1,220,810$991,498$930,757$1,134,568
62$1,318,022$1,012,771$934,627$1,183,324
63$1,424,288$1,034,225$937,765$1,235,529
64$1,540,507$1,055,843$940,122$1,291,509
65$1,667,664$1,077,605$941,642$1,351,625
66$1,806,848$1,099,490$942,268$1,416,275
67$1,959,254$1,121,472$941,942$1,485,899
68$2,126,201$1,143,528$940,600$1,560,979
69$2,309,141$1,165,627$938,177$1,642,051
70$2,509,671$1,187,741$934,604$1,729,703
71$2,729,553$1,209,836$929,809$1,824,584
72$2,970,725$1,231,876$923,715$1,927,411
73$3,235,324$1,253,823$916,245$2,038,974
74$3,525,702$1,275,635$907,314$2,160,143
75$3,844,451$1,297,268$896,836$2,291,882
76$4,194,424$1,318,673$884,719$2,435,249
77$4,578,766$1,339,799$870,868$2,591,415
78$5,000,942$1,360,591$855,184$2,761,670
79$5,464,766$1,380,988$837,560$2,947,437
80$5,974,443$1,400,927$817,889$3,150,284
81$6,534,603$1,420,340$796,056$3,371,945
82$7,150,349$1,439,153$771,940$3,614,328
83$7,827,301$1,457,288$745,417$3,879,539
84$8,571,652$1,474,661$716,355$4,169,901
85$9,390,225$1,491,184$684,617$4,487,977
86$10,290,537$1,506,761$650,061$4,836,593
87$11,280,870$1,521,290$612,536$5,218,864
88$12,370,349$1,534,664$571,886$5,638,228
89$13,569,027$1,546,765$527,947$6,098,475
90$14,887,983$1,557,472$480,548$6,603,787
91$16,339,423$1,566,654$429,512$7,158,772
92$17,936,795$1,574,170$374,651$7,768,516
93$19,694,917$1,579,874$315,771$8,438,623
94$21,630,118$1,583,607$252,669$9,175,278
95$23,760,388$1,585,202$185,131$9,985,295
96$26,105,552$1,584,481$112,937$10,876,194
97$28,687,453$1,581,255$35,856$11,856,264
98$31,530,160$1,575,324$0$12,934,643
99$34,660,196$1,566,474$0$14,130,323
100$38,106,786$1,554,481$0$15,453,431