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%18.2%
1 years$73,165$72,513$71,877$71,257$70,651$68,307
2 years$36,220$35,546$34,892$34,258$33,643$31,305
3 years$23,907$23,230$22,577$21,950$21,345$19,085
4 years$17,752$17,076$16,431$15,813$15,223$13,059
5 years$14,059$13,388$12,751$12,146$11,572$9,510
6 years$11,599$10,932$10,305$9,713$9,157$7,198
7 years$9,842$9,181$8,563$7,986$7,447$5,591
8 years$8,524$7,870$7,262$6,699$6,178$4,424
9 years$7,501$6,852$6,255$5,706$5,203$3,548
10 years$6,682$6,040$5,453$4,919$4,433$2,876
11 years$6,013$5,377$4,801$4,281$3,813$2,349
12 years$5,455$4,826$4,261$3,755$3,304$1,931
13 years$4,984$4,361$3,807$3,315$2,881$1,596
14 years$4,580$3,964$3,420$2,943$2,526$1,324
15 years$4,231$3,621$3,088$2,624$2,224$1,102
16 years$3,925$3,323$2,800$2,350$1,965$920
17 years$3,656$3,060$2,548$2,111$1,743$769
18 years$3,417$2,828$2,326$1,903$1,549$645
19 years$3,203$2,621$2,129$1,719$1,381$541
20 years$3,011$2,435$1,954$1,557$1,234$455
21 years$2,838$2,268$1,797$1,413$1,104$383
22 years$2,680$2,117$1,656$1,285$989$322
23 years$2,536$1,980$1,529$1,170$888$271
24 years$2,405$1,855$1,414$1,067$798$229
25 years$2,284$1,741$1,310$975$718$193
26 years$2,173$1,636$1,215$891$647$163
27 years$2,070$1,540$1,128$816$583$138
28 years$1,975$1,451$1,049$747$526$116
29 years$1,886$1,369$976$685$475$98
30 years$1,804$1,293$909$629$430$83
31 years$1,726$1,222$848$578$388$70
32 years$1,654$1,156$791$531$351$59
33 years$1,587$1,095$738$488$318$50
34 years$1,523$1,038$690$449$288$42
35 years$1,463$985$645$414$261$36
36 years$1,407$934$603$381$236$30
37 years$1,354$888$565$351$214$26
38 years$1,304$843$529$323$194$22
39 years$1,256$802$496$298$176$18
40 years$1,211$763$464$275$160$16
41 years$1,169$726$435$254$145$13
42 years$1,128$692$409$234$131$11
43 years$1,089$659$383$216$119$9
44 years$1,053$628$360$200$108$8
45 years$1,018$599$338$184$98$7
46 years$984$572$317$170$89$6
47 years$952$545$298$157$81$5
48 years$922$521$280$145$74$4
49 years$893$497$263$134$67$3
50 years$865$475$248$124$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $886,000, adding $5,093 every year, while hoping to spend $39,538 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: 77/9/14 Blend
57$886,000$886,000$886,000$886,000
58$981,625$934,667$920,934$1,053,980
59$1,039,683$938,398$909,718$1,106,121
60$1,102,338$940,986$896,800$1,157,777
61$1,170,016$942,334$882,083$1,213,322
62$1,243,187$942,339$865,462$1,273,130
63$1,322,368$940,889$846,831$1,337,613
64$1,408,125$937,868$826,075$1,407,224
65$1,501,081$933,151$803,076$1,482,464
66$1,601,924$926,607$777,711$1,563,885
67$1,711,405$918,096$749,850$1,652,094
68$1,830,355$907,470$719,357$1,747,762
69$1,959,687$894,571$686,090$1,851,627
70$2,100,403$879,234$649,903$1,964,505
71$2,253,609$861,280$610,639$2,087,293
72$2,420,518$840,525$568,137$2,220,982
73$2,602,470$816,769$522,228$2,366,663
74$2,800,934$789,804$472,735$2,525,541
75$3,017,532$759,407$419,475$2,698,942
76$3,254,047$725,344$362,253$2,888,329
77$3,512,441$687,367$300,870$3,095,317
78$3,794,875$645,213$235,114$3,321,682
79$4,103,728$598,605$164,767$3,569,388
80$4,441,621$547,249$89,599$3,840,594
81$4,811,437$490,834$9,371$4,137,687
82$5,216,353$429,034$0$4,463,293
83$5,659,865$361,502$0$4,831,699
84$6,145,827$287,870$0$5,236,947
85$6,678,479$207,754$0$5,681,195
86$7,262,494$120,744$0$6,168,371
87$7,903,016$26,408$0$6,702,799
88$8,605,714$0$0$7,289,246
89$9,376,830$0$0$7,940,460
90$10,223,240$0$0$8,658,163
91$11,152,517$0$0$9,446,168
92$12,173,006$0$0$10,311,552
93$13,293,897$0$0$11,262,114
94$14,525,316$0$0$12,306,446
95$15,878,415$0$0$13,454,010
96$17,365,483$0$0$14,715,234
97$19,000,057$0$0$16,101,603
98$20,797,052$0$0$17,625,773
99$22,772,899$0$0$19,301,685
100$24,945,700$0$0$21,144,700