Can I retire at age 58 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$73,082$72,431$71,796$71,176$70,571$68,477
2 years$36,179$35,506$34,853$34,219$33,605$31,513
3 years$23,880$23,203$22,552$21,925$21,321$19,295
4 years$17,732$17,057$16,412$15,796$15,206$13,263
5 years$14,043$13,373$12,736$12,132$11,559$9,705
6 years$11,585$10,920$10,293$9,702$9,147$7,382
7 years$9,830$9,171$8,553$7,977$7,439$5,763
8 years$8,515$7,861$7,254$6,692$6,171$4,584
9 years$7,492$6,844$6,248$5,700$5,197$3,697
10 years$6,674$6,033$5,447$4,913$4,428$3,013
11 years$6,006$5,371$4,795$4,276$3,808$2,476
12 years$5,449$4,820$4,256$3,751$3,300$2,048
13 years$4,978$4,356$3,802$3,311$2,878$1,702
14 years$4,575$3,960$3,416$2,939$2,523$1,421
15 years$4,226$3,617$3,085$2,621$2,221$1,190
16 years$3,921$3,319$2,797$2,347$1,963$1,000
17 years$3,652$3,057$2,545$2,109$1,741$842
18 years$3,413$2,824$2,323$1,901$1,548$710
19 years$3,200$2,618$2,127$1,717$1,379$600
20 years$3,008$2,432$1,952$1,555$1,232$508
21 years$2,834$2,266$1,795$1,412$1,103$430
22 years$2,677$2,115$1,655$1,283$988$365
23 years$2,534$1,978$1,528$1,169$887$310
24 years$2,402$1,853$1,413$1,066$797$263
25 years$2,282$1,739$1,309$974$718$223
26 years$2,170$1,635$1,214$890$646$190
27 years$2,068$1,538$1,127$815$583$162
28 years$1,972$1,450$1,048$747$526$137
29 years$1,884$1,368$975$685$475$117
30 years$1,801$1,291$908$628$429$100
31 years$1,724$1,221$847$577$388$85
32 years$1,652$1,155$790$530$351$72
33 years$1,585$1,094$738$488$318$62
34 years$1,521$1,037$689$449$287$52
35 years$1,462$983$644$413$260$45
36 years$1,406$933$603$380$236$38
37 years$1,353$887$564$351$214$32
38 years$1,302$843$528$323$194$28
39 years$1,255$801$495$298$176$24
40 years$1,210$762$464$275$159$20
41 years$1,167$726$435$253$145$17
42 years$1,127$691$408$234$131$15
43 years$1,088$658$383$216$119$12
44 years$1,052$628$359$199$108$11
45 years$1,017$598$337$184$98$9
46 years$983$571$317$170$89$8
47 years$951$545$298$157$81$7
48 years$921$520$280$145$73$6
49 years$892$497$263$134$67$5
50 years$864$474$247$124$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $885,000, adding $6,653 every year, while hoping to spend $38,911 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: 59/14/27 Blend
57$885,000$885,000$885,000$885,000
58$982,133$935,228$921,510$1,032,531
59$1,040,909$939,653$910,980$1,072,130
60$1,104,377$942,991$898,792$1,110,584
61$1,172,973$945,147$884,852$1,151,713
62$1,247,178$946,021$869,056$1,195,786
63$1,327,521$945,507$851,300$1,243,102
64$1,414,583$943,491$831,473$1,293,991
65$1,509,001$939,854$809,459$1,348,819
66$1,611,480$934,467$785,137$1,407,990
67$1,722,792$927,196$758,379$1,471,952
68$1,843,785$917,898$729,054$1,541,198
69$1,975,396$906,420$697,022$1,616,276
70$2,118,653$892,601$662,139$1,697,790
71$2,274,688$876,271$624,252$1,786,411
72$2,444,746$857,248$583,205$1,882,875
73$2,630,199$835,341$538,831$1,988,002
74$2,832,554$810,348$490,957$2,102,693
75$3,053,473$782,054$439,402$2,227,946
76$3,294,784$750,231$383,979$2,364,866
77$3,558,499$714,639$324,489$2,514,669
78$3,846,833$675,024$260,727$2,678,701
79$4,162,227$631,117$192,478$2,858,450
80$4,507,366$582,634$119,518$3,055,558
81$4,885,208$529,273$41,613$3,271,838
82$5,299,010$470,718$0$3,509,293
83$5,752,358$406,632$0$3,782,098
84$6,249,202$336,661$0$4,094,303
85$6,793,893$260,430$0$4,436,680
86$7,391,221$177,542$0$4,812,285
87$8,046,463$87,579$0$5,224,487
88$8,765,433$0$0$5,677,000
89$9,554,532$0$0$6,175,443
90$10,420,812$0$0$6,737,524
91$11,372,041$0$0$7,354,801
92$12,416,778$0$0$8,032,838
93$13,564,449$0$0$8,777,761
94$14,825,439$0$0$9,596,321
95$16,211,188$0$0$10,495,957
96$17,734,301$0$0$11,484,861
97$19,408,662$0$0$12,572,060
98$21,249,571$0$0$13,767,500
99$23,273,881$0$0$15,082,137
100$25,500,161$0$0$16,528,042