Can I retire at age 58 with 884,000?

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 $884,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$73,000$72,350$71,715$71,096$70,491$69,467
2 years$36,139$35,466$34,813$34,181$33,567$32,537
3 years$23,853$23,177$22,526$21,900$21,296$20,293
4 years$17,712$17,038$16,393$15,778$15,189$14,219
5 years$14,028$13,358$12,722$12,119$11,546$10,614
6 years$11,572$10,908$10,281$9,691$9,136$8,242
7 years$9,819$9,160$8,544$7,968$7,430$6,574
8 years$8,505$7,852$7,246$6,684$6,164$5,347
9 years$7,484$6,837$6,241$5,693$5,191$4,411
10 years$6,667$6,026$5,441$4,908$4,423$3,681
11 years$5,999$5,365$4,790$4,271$3,804$3,098
12 years$5,443$4,815$4,251$3,746$3,296$2,627
13 years$4,973$4,351$3,798$3,308$2,875$2,240
14 years$4,570$3,955$3,413$2,936$2,520$1,919
15 years$4,221$3,613$3,081$2,618$2,219$1,650
16 years$3,916$3,315$2,793$2,345$1,961$1,424
17 years$3,648$3,053$2,542$2,107$1,739$1,233
18 years$3,409$2,821$2,320$1,898$1,546$1,069
19 years$3,196$2,615$2,124$1,715$1,378$929
20 years$3,004$2,430$1,950$1,554$1,231$809
21 years$2,831$2,263$1,793$1,410$1,101$706
22 years$2,674$2,113$1,653$1,282$987$616
23 years$2,531$1,976$1,526$1,168$886$539
24 years$2,400$1,851$1,411$1,065$797$472
25 years$2,279$1,737$1,307$973$717$413
26 years$2,168$1,633$1,212$889$646$362
27 years$2,065$1,537$1,126$814$582$317
28 years$1,970$1,448$1,047$746$525$279
29 years$1,882$1,366$974$684$474$245
30 years$1,799$1,290$907$628$429$215
31 years$1,723$1,219$846$576$387$189
32 years$1,651$1,154$789$530$350$166
33 years$1,583$1,093$737$487$317$146
34 years$1,520$1,036$688$448$287$128
35 years$1,460$982$644$413$260$113
36 years$1,404$932$602$380$236$99
37 years$1,351$886$563$350$214$87
38 years$1,301$842$528$323$194$77
39 years$1,253$800$494$298$176$68
40 years$1,209$761$463$274$159$60
41 years$1,166$725$435$253$144$52
42 years$1,125$690$408$234$131$46
43 years$1,087$658$382$216$119$41
44 years$1,050$627$359$199$108$36
45 years$1,015$598$337$184$98$32
46 years$982$570$317$170$89$28
47 years$950$544$297$157$81$24
48 years$920$520$280$145$73$22
49 years$891$496$263$134$67$19
50 years$863$474$247$124$61$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $884,000, adding $2,140 every year, while hoping to spend $30,352 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: 38/39/23 Blend
57$884,000$884,000$884,000$884,000
58$976,375$929,523$915,821$1,006,695
59$1,043,671$942,776$914,207$1,042,176
60$1,116,814$955,660$911,522$1,077,505
61$1,196,369$968,127$907,697$1,115,079
62$1,282,955$980,122$902,661$1,155,119
63$1,377,257$991,588$896,341$1,197,871
64$1,480,025$1,002,464$888,657$1,243,605
65$1,592,089$1,012,686$879,527$1,292,622
66$1,714,357$1,022,183$868,867$1,345,255
67$1,847,833$1,030,881$856,586$1,401,871
68$1,993,620$1,038,702$842,589$1,462,879
69$2,152,932$1,045,562$826,779$1,528,729
70$2,327,107$1,051,370$809,052$1,599,920
71$2,517,617$1,056,032$789,300$1,677,004
72$2,726,083$1,059,447$767,410$1,760,591
73$2,954,290$1,061,506$743,265$1,851,358
74$3,204,203$1,062,096$716,741$1,950,051
75$3,477,989$1,061,095$687,708$2,057,497
76$3,778,029$1,058,374$656,031$2,174,609
77$4,106,950$1,053,797$621,570$2,302,396
78$4,467,643$1,047,217$584,177$2,441,976
79$4,863,293$1,038,481$543,698$2,594,583
80$5,297,407$1,027,425$499,970$2,761,579
81$5,773,850$1,013,877$452,827$2,944,474
82$6,296,878$997,652$402,092$3,144,931
83$6,871,179$978,556$347,581$3,364,791
84$7,501,917$956,382$289,102$3,606,088
85$8,194,781$930,914$226,456$3,871,066
86$8,956,039$901,919$159,433$4,162,205
87$9,792,595$869,153$87,814$4,482,247
88$10,712,056$832,358$11,371$4,834,215
89$11,722,801$791,258$0$5,221,451
90$12,834,062$745,566$0$5,664,872
91$14,056,012$694,974$0$6,155,420
92$15,399,856$639,159$0$6,694,861
93$16,877,942$577,777$0$7,288,225
94$18,503,872$510,469$0$7,941,060
95$20,292,634$436,849$0$8,659,486
96$22,260,744$356,516$0$9,450,251
97$24,426,396$269,042$0$10,320,801
98$26,809,639$173,975$0$11,279,347
99$29,432,563$70,841$0$12,334,942
100$32,319,508$0$0$13,497,574