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%13.1%
1 years$73,082$72,431$71,796$71,176$70,571$69,660
2 years$36,179$35,506$34,853$34,219$33,605$32,689
3 years$23,880$23,203$22,552$21,925$21,321$20,427
4 years$17,732$17,057$16,412$15,796$15,206$14,343
5 years$14,043$13,373$12,736$12,132$11,559$10,728
6 years$11,585$10,920$10,293$9,702$9,147$8,349
7 years$9,830$9,171$8,553$7,977$7,439$6,675
8 years$8,515$7,861$7,254$6,692$6,171$5,441
9 years$7,492$6,844$6,248$5,700$5,197$4,500
10 years$6,674$6,033$5,447$4,913$4,428$3,764
11 years$6,006$5,371$4,795$4,276$3,808$3,176
12 years$5,449$4,820$4,256$3,751$3,300$2,699
13 years$4,978$4,356$3,802$3,311$2,878$2,308
14 years$4,575$3,960$3,416$2,939$2,523$1,982
15 years$4,226$3,617$3,085$2,621$2,221$1,710
16 years$3,921$3,319$2,797$2,347$1,963$1,479
17 years$3,652$3,057$2,545$2,109$1,741$1,284
18 years$3,413$2,824$2,323$1,901$1,548$1,117
19 years$3,200$2,618$2,127$1,717$1,379$974
20 years$3,008$2,432$1,952$1,555$1,232$851
21 years$2,834$2,266$1,795$1,412$1,103$744
22 years$2,677$2,115$1,655$1,283$988$652
23 years$2,534$1,978$1,528$1,169$887$571
24 years$2,402$1,853$1,413$1,066$797$502
25 years$2,282$1,739$1,309$974$718$441
26 years$2,170$1,635$1,214$890$646$388
27 years$2,068$1,538$1,127$815$583$341
28 years$1,972$1,450$1,048$747$526$300
29 years$1,884$1,368$975$685$475$264
30 years$1,801$1,291$908$628$429$233
31 years$1,724$1,221$847$577$388$205
32 years$1,652$1,155$790$530$351$181
33 years$1,585$1,094$738$488$318$160
34 years$1,521$1,037$689$449$287$141
35 years$1,462$983$644$413$260$124
36 years$1,406$933$603$380$236$110
37 years$1,353$887$564$351$214$97
38 years$1,302$843$528$323$194$86
39 years$1,255$801$495$298$176$76
40 years$1,210$762$464$275$159$67
41 years$1,167$726$435$253$145$59
42 years$1,127$691$408$234$131$52
43 years$1,088$658$383$216$119$46
44 years$1,052$628$359$199$108$41
45 years$1,017$598$337$184$98$36
46 years$983$571$317$170$89$32
47 years$951$545$298$157$81$28
48 years$921$520$280$145$73$25
49 years$892$497$263$134$67$22
50 years$864$474$247$124$61$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $885,000, adding $4,255 every year, while hoping to spend $26,784 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: 75/5/20 Blend
57$885,000$885,000$885,000$885,000
58$979,659$932,754$919,037$1,048,200
59$1,051,086$949,961$921,326$1,111,427
60$1,128,901$967,113$922,795$1,177,022
61$1,213,728$984,180$923,387$1,248,227
62$1,306,251$1,001,128$923,044$1,325,598
63$1,407,227$1,017,922$921,704$1,409,742
64$1,517,486$1,034,522$919,303$1,501,333
65$1,637,943$1,050,887$915,773$1,601,109
66$1,769,605$1,066,973$911,043$1,709,887
67$1,913,582$1,082,731$905,040$1,828,565
68$2,071,094$1,098,111$897,686$1,958,133
69$2,243,485$1,113,058$888,898$2,099,684
70$2,432,236$1,127,514$878,591$2,254,419
71$2,638,977$1,141,415$866,677$2,423,665
72$2,865,503$1,154,695$853,061$2,608,883
73$3,113,792$1,167,282$837,646$2,811,682
74$3,386,020$1,179,100$820,328$3,033,838
75$3,684,585$1,190,068$801,001$3,277,305
76$4,012,130$1,200,098$779,552$3,544,240
77$4,371,564$1,209,100$755,864$3,837,018
78$4,766,091$1,216,973$729,813$4,158,257
79$5,199,242$1,223,614$701,271$4,510,844
80$5,674,905$1,228,912$670,104$4,897,958
81$6,197,364$1,232,747$636,170$5,323,104
82$6,771,338$1,234,994$599,325$5,790,148
83$7,402,024$1,235,519$559,412$6,303,345
84$8,095,152$1,234,180$516,274$6,867,389
85$8,857,029$1,230,827$469,740$7,487,453
86$9,694,607$1,225,298$419,638$8,169,238
87$10,615,544$1,217,425$365,783$8,919,025
88$11,628,277$1,207,027$307,984$9,743,740
89$12,742,102$1,193,912$246,043$10,651,014
90$13,967,262$1,177,879$179,750$11,649,260
91$15,315,040$1,158,712$108,889$12,747,747
92$16,797,869$1,136,184$33,232$13,956,693
93$18,429,449$1,110,055$0$15,287,359
94$20,224,873$1,080,068$0$16,762,293
95$22,200,773$1,045,954$0$18,393,263
96$24,375,473$1,007,426$0$20,188,300
97$26,769,164$964,183$0$22,164,075
98$29,404,094$915,904$0$24,338,960
99$32,304,778$862,250$0$26,733,197
100$35,498,229$802,863$0$29,369,093