Can I retire at age 58 with 884,000?

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 $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%11.3%
1 years$73,000$72,350$71,715$71,096$70,491$70,106
2 years$36,139$35,466$34,813$34,181$33,567$33,178
3 years$23,853$23,177$22,526$21,900$21,296$20,916
4 years$17,712$17,038$16,393$15,778$15,189$14,820
5 years$14,028$13,358$12,722$12,119$11,546$11,190
6 years$11,572$10,908$10,281$9,691$9,136$8,793
7 years$9,819$9,160$8,544$7,968$7,430$7,100
8 years$8,505$7,852$7,246$6,684$6,164$5,847
9 years$7,484$6,837$6,241$5,693$5,191$4,887
10 years$6,667$6,026$5,441$4,908$4,423$4,132
11 years$5,999$5,365$4,790$4,271$3,804$3,526
12 years$5,443$4,815$4,251$3,746$3,296$3,031
13 years$4,973$4,351$3,798$3,308$2,875$2,621
14 years$4,570$3,955$3,413$2,936$2,520$2,279
15 years$4,221$3,613$3,081$2,618$2,219$1,989
16 years$3,916$3,315$2,793$2,345$1,961$1,743
17 years$3,648$3,053$2,542$2,107$1,739$1,532
18 years$3,409$2,821$2,320$1,898$1,546$1,350
19 years$3,196$2,615$2,124$1,715$1,378$1,192
20 years$3,004$2,430$1,950$1,554$1,231$1,055
21 years$2,831$2,263$1,793$1,410$1,101$935
22 years$2,674$2,113$1,653$1,282$987$830
23 years$2,531$1,976$1,526$1,168$886$738
24 years$2,400$1,851$1,411$1,065$797$657
25 years$2,279$1,737$1,307$973$717$585
26 years$2,168$1,633$1,212$889$646$522
27 years$2,065$1,537$1,126$814$582$466
28 years$1,970$1,448$1,047$746$525$416
29 years$1,882$1,366$974$684$474$372
30 years$1,799$1,290$907$628$429$333
31 years$1,723$1,219$846$576$387$298
32 years$1,651$1,154$789$530$350$266
33 years$1,583$1,093$737$487$317$238
34 years$1,520$1,036$688$448$287$214
35 years$1,460$982$644$413$260$191
36 years$1,404$932$602$380$236$172
37 years$1,351$886$563$350$214$154
38 years$1,301$842$528$323$194$138
39 years$1,253$800$494$298$176$124
40 years$1,209$761$463$274$159$111
41 years$1,166$725$435$253$144$100
42 years$1,125$690$408$234$131$89
43 years$1,087$658$382$216$119$80
44 years$1,050$627$359$199$108$72
45 years$1,015$598$337$184$98$65
46 years$982$570$317$170$89$58
47 years$950$544$297$157$81$52
48 years$920$520$280$145$73$47
49 years$891$496$263$134$67$42
50 years$863$474$247$124$61$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $884,000, adding $5,852 every year, while hoping to spend $27,470 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: 72/14/14 Blend
57$884,000$884,000$884,000$884,000
58$980,204$933,352$919,650$1,047,357
59$1,050,957$949,859$921,231$1,109,145
60$1,128,006$966,253$921,943$1,172,868
61$1,211,965$982,501$921,730$1,241,920
62$1,303,507$998,566$920,530$1,316,822
63$1,403,377$1,014,408$918,280$1,398,149
64$1,512,391$1,029,983$914,912$1,486,534
65$1,631,449$1,045,247$910,356$1,582,673
66$1,761,542$1,060,149$904,538$1,687,336
67$1,903,761$1,074,638$897,381$1,801,367
68$2,059,306$1,088,657$888,805$1,925,701
69$2,229,500$1,102,145$878,725$2,061,365
70$2,415,798$1,115,039$867,051$2,209,493
71$2,619,803$1,127,270$853,691$2,371,332
72$2,843,281$1,138,764$838,548$2,548,259
73$3,088,176$1,149,444$821,519$2,741,790
74$3,356,629$1,159,226$802,499$2,953,597
75$3,650,998$1,168,021$781,376$3,185,521
76$3,973,880$1,175,735$758,033$3,439,593
77$4,328,137$1,182,267$732,348$3,718,049
78$4,716,919$1,187,510$704,193$4,023,358
79$5,143,697$1,191,350$673,436$4,358,235
80$5,612,294$1,193,666$639,936$4,725,678
81$6,126,923$1,194,330$603,549$5,128,987
82$6,692,222$1,193,205$564,120$5,571,803
83$7,313,302$1,190,146$521,492$6,058,135
84$7,995,795$1,184,999$475,498$6,592,406
85$8,745,903$1,177,601$425,964$7,179,488
86$9,570,460$1,167,778$372,709$7,824,752
87$10,476,994$1,155,347$315,542$8,534,116
88$11,473,802$1,140,113$254,267$9,314,106
89$12,570,020$1,121,869$188,675$10,171,912
90$13,775,718$1,100,397$118,552$11,115,460
91$15,101,989$1,075,464$43,671$12,153,485
92$16,561,056$1,046,826$0$13,295,616
93$18,166,386$1,014,222$0$14,557,877
94$19,932,817$977,379$0$15,953,865
95$21,876,697$936,004$0$17,489,979
96$24,016,042$889,789$0$19,180,466
97$26,370,699$838,410$0$21,041,026
98$28,962,539$781,521$0$23,088,962
99$31,815,661$718,758$0$25,343,342
100$34,956,618$649,737$0$27,825,177