Can I retire at age 58 with 886,000?

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 $886,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$73,165$72,513$71,877$71,257$70,651$67,901
2 years$36,220$35,546$34,892$34,258$33,643$30,906
3 years$23,907$23,230$22,577$21,950$21,345$18,707
4 years$17,752$17,076$16,431$15,813$15,223$12,704
5 years$14,059$13,388$12,751$12,146$11,572$9,179
6 years$11,599$10,932$10,305$9,713$9,157$6,890
7 years$9,842$9,181$8,563$7,986$7,447$5,306
8 years$8,524$7,870$7,262$6,699$6,178$4,161
9 years$7,501$6,852$6,255$5,706$5,203$3,307
10 years$6,682$6,040$5,453$4,919$4,433$2,655
11 years$6,013$5,377$4,801$4,281$3,813$2,148
12 years$5,455$4,826$4,261$3,755$3,304$1,748
13 years$4,984$4,361$3,807$3,315$2,881$1,430
14 years$4,580$3,964$3,420$2,943$2,526$1,174
15 years$4,231$3,621$3,088$2,624$2,224$967
16 years$3,925$3,323$2,800$2,350$1,965$798
17 years$3,656$3,060$2,548$2,111$1,743$660
18 years$3,417$2,828$2,326$1,903$1,549$547
19 years$3,203$2,621$2,129$1,719$1,381$454
20 years$3,011$2,435$1,954$1,557$1,234$377
21 years$2,838$2,268$1,797$1,413$1,104$314
22 years$2,680$2,117$1,656$1,285$989$261
23 years$2,536$1,980$1,529$1,170$888$217
24 years$2,405$1,855$1,414$1,067$798$181
25 years$2,284$1,741$1,310$975$718$151
26 years$2,173$1,636$1,215$891$647$126
27 years$2,070$1,540$1,128$816$583$105
28 years$1,975$1,451$1,049$747$526$88
29 years$1,886$1,369$976$685$475$73
30 years$1,804$1,293$909$629$430$61
31 years$1,726$1,222$848$578$388$51
32 years$1,654$1,156$791$531$351$43
33 years$1,587$1,095$738$488$318$36
34 years$1,523$1,038$690$449$288$30
35 years$1,463$985$645$414$261$25
36 years$1,407$934$603$381$236$21
37 years$1,354$888$565$351$214$17
38 years$1,304$843$529$323$194$14
39 years$1,256$802$496$298$176$12
40 years$1,211$763$464$275$160$10
41 years$1,169$726$435$254$145$8
42 years$1,128$692$409$234$131$7
43 years$1,089$659$383$216$119$6
44 years$1,053$628$360$200$108$5
45 years$1,018$599$338$184$98$4
46 years$984$572$317$170$89$3
47 years$952$545$298$157$81$3
48 years$922$521$280$145$74$2
49 years$893$497$263$134$67$2
50 years$865$475$248$124$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $886,000, adding $6,686 every year, while hoping to spend $38,481 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: 33/43/24 Blend
57$886,000$886,000$886,000$886,000
58$983,269$936,311$922,578$1,008,320
59$1,042,619$941,246$912,540$1,032,643
60$1,106,732$945,134$900,877$1,054,901
61$1,176,056$947,882$887,493$1,078,114
62$1,251,077$949,393$872,288$1,102,392
63$1,332,336$949,562$855,159$1,127,859
64$1,420,423$948,279$835,995$1,154,653
65$1,515,989$945,427$814,684$1,182,928
66$1,619,749$940,882$791,105$1,212,860
67$1,732,490$934,512$765,133$1,244,645
68$1,855,077$926,177$736,639$1,278,501
69$1,988,464$915,728$705,485$1,314,675
70$2,133,697$903,009$671,529$1,353,442
71$2,291,931$887,852$634,621$1,395,107
72$2,464,432$870,082$594,606$1,440,016
73$2,652,599$849,511$551,320$1,488,550
74$2,857,968$825,940$504,593$1,541,137
75$3,082,230$799,161$454,247$1,598,254
76$3,327,250$768,952$400,095$1,660,433
77$3,595,076$735,077$341,945$1,728,264
78$3,887,966$697,288$279,593$1,802,407
79$4,208,406$655,323$212,827$1,883,594
80$4,559,133$608,903$141,426$1,972,641
81$4,943,160$557,735$65,159$2,070,454
82$5,363,806$501,508$0$2,178,040
83$5,824,727$439,894$0$2,300,675
84$6,329,946$372,546$0$2,453,522
85$6,883,897$299,098$0$2,621,322
86$7,491,463$219,162$0$2,805,678
87$8,158,020$132,329$0$3,008,358
88$8,889,493$38,168$0$3,231,323
89$9,692,406$0$0$3,476,739
90$10,573,946$0$0$3,777,178
91$11,542,030$0$0$4,127,085
92$12,605,379$0$0$4,511,569
93$13,773,600$0$0$4,934,120
94$15,057,278$0$0$5,398,587
95$16,468,072$0$0$5,909,206
96$18,018,829$0$0$6,470,648
97$19,723,699$0$0$7,088,055
98$21,598,275$0$0$7,767,096
99$23,659,734$0$0$8,514,016
100$25,927,004$0$0$9,335,693