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%12.8%
1 years$73,000$72,350$71,715$71,096$70,491$69,668
2 years$36,139$35,466$34,813$34,181$33,567$32,739
3 years$23,853$23,177$22,526$21,900$21,296$20,488
4 years$17,712$17,038$16,393$15,778$15,189$14,407
5 years$14,028$13,358$12,722$12,119$11,546$10,794
6 years$11,572$10,908$10,281$9,691$9,136$8,413
7 years$9,819$9,160$8,544$7,968$7,430$6,737
8 years$8,505$7,852$7,246$6,684$6,164$5,501
9 years$7,484$6,837$6,241$5,693$5,191$4,558
10 years$6,667$6,026$5,441$4,908$4,423$3,819
11 years$5,999$5,365$4,790$4,271$3,804$3,229
12 years$5,443$4,815$4,251$3,746$3,296$2,749
13 years$4,973$4,351$3,798$3,308$2,875$2,355
14 years$4,570$3,955$3,413$2,936$2,520$2,027
15 years$4,221$3,613$3,081$2,618$2,219$1,752
16 years$3,916$3,315$2,793$2,345$1,961$1,519
17 years$3,648$3,053$2,542$2,107$1,739$1,321
18 years$3,409$2,821$2,320$1,898$1,546$1,152
19 years$3,196$2,615$2,124$1,715$1,378$1,007
20 years$3,004$2,430$1,950$1,554$1,231$881
21 years$2,831$2,263$1,793$1,410$1,101$772
22 years$2,674$2,113$1,653$1,282$987$678
23 years$2,531$1,976$1,526$1,168$886$596
24 years$2,400$1,851$1,411$1,065$797$524
25 years$2,279$1,737$1,307$973$717$462
26 years$2,168$1,633$1,212$889$646$407
27 years$2,065$1,537$1,126$814$582$359
28 years$1,970$1,448$1,047$746$525$317
29 years$1,882$1,366$974$684$474$280
30 years$1,799$1,290$907$628$429$247
31 years$1,723$1,219$846$576$387$218
32 years$1,651$1,154$789$530$350$193
33 years$1,583$1,093$737$487$317$171
34 years$1,520$1,036$688$448$287$151
35 years$1,460$982$644$413$260$134
36 years$1,404$932$602$380$236$118
37 years$1,351$886$563$350$214$105
38 years$1,301$842$528$323$194$93
39 years$1,253$800$494$298$176$82
40 years$1,209$761$463$274$159$73
41 years$1,166$725$435$253$144$64
42 years$1,125$690$408$234$131$57
43 years$1,087$658$382$216$119$51
44 years$1,050$627$359$199$108$45
45 years$1,015$598$337$184$98$40
46 years$982$570$317$170$89$35
47 years$950$544$297$157$81$31
48 years$920$520$280$145$73$28
49 years$891$496$263$134$67$24
50 years$863$474$247$124$61$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $884,000, adding $2,174 every year, while hoping to spend $27,977 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: 57/18/25 Blend
57$884,000$884,000$884,000$884,000
58$976,410$929,558$915,856$1,025,307
59$1,046,237$945,340$916,770$1,074,795
60$1,122,248$960,956$916,777$1,125,562
61$1,205,045$976,371$915,817$1,180,306
62$1,295,290$991,543$913,827$1,239,418
63$1,393,711$1,006,430$910,741$1,303,331
64$1,501,109$1,020,984$906,491$1,372,522
65$1,618,366$1,035,157$901,003$1,447,517
66$1,746,455$1,048,895$894,201$1,528,896
67$1,886,443$1,062,141$886,007$1,617,300
68$2,039,509$1,074,834$876,337$1,713,435
69$2,206,948$1,086,910$865,103$1,818,081
70$2,390,187$1,098,299$852,214$1,932,098
71$2,590,797$1,108,927$837,574$2,056,433
72$2,810,509$1,118,715$821,084$2,192,133
73$3,051,228$1,127,579$802,638$2,340,352
74$3,315,054$1,135,431$782,126$2,502,363
75$3,604,296$1,142,174$759,434$2,679,570
76$3,921,501$1,147,707$734,442$2,873,523
77$4,269,473$1,151,923$707,024$3,085,929
78$4,651,298$1,154,707$677,049$3,318,673
79$5,070,380$1,155,936$644,379$3,573,834
80$5,530,464$1,155,483$608,872$3,853,702
81$6,035,679$1,153,209$570,376$4,160,808
82$6,590,570$1,148,968$528,736$4,497,937
83$7,200,146$1,142,606$483,787$4,868,166
84$7,869,926$1,133,958$435,358$5,274,884
85$8,605,987$1,122,851$383,271$5,721,832
86$9,415,026$1,109,099$327,339$6,213,132
87$10,304,421$1,092,507$267,367$6,753,331
88$11,282,299$1,072,867$203,152$7,347,444
89$12,357,616$1,049,960$134,480$8,000,999
90$13,540,238$1,023,553$61,130$8,720,092
91$14,841,035$993,400$0$9,511,446
92$16,271,984$959,240$0$10,387,045
93$17,846,280$920,796$0$11,368,187
94$19,578,463$877,777$0$12,447,625
95$21,484,552$829,874$0$13,635,362
96$23,582,198$776,760$0$14,942,424
97$25,890,850$718,089$0$16,380,962
98$28,431,938$653,497$0$17,964,367
99$31,229,073$582,596$0$19,707,397
100$34,308,274$504,979$0$21,626,317