Can I retire at age 58 with 887,000?

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 $887,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$73,248$72,595$71,959$71,337$70,731$68,714
2 years$36,261$35,586$34,931$34,297$33,681$31,666
3 years$23,934$23,256$22,603$21,974$21,369$19,417
4 years$17,772$17,095$16,449$15,831$15,240$13,367
5 years$14,075$13,403$12,765$12,160$11,585$9,796
6 years$11,612$10,945$10,316$9,724$9,167$7,463
7 years$9,853$9,191$8,573$7,995$7,455$5,837
8 years$8,534$7,879$7,270$6,707$6,185$4,651
9 years$7,509$6,860$6,262$5,713$5,209$3,758
10 years$6,689$6,047$5,459$4,924$4,438$3,069
11 years$6,019$5,383$4,806$4,286$3,817$2,526
12 years$5,461$4,831$4,265$3,759$3,308$2,093
13 years$4,990$4,366$3,811$3,319$2,884$1,744
14 years$4,585$3,969$3,424$2,946$2,528$1,459
15 years$4,236$3,625$3,092$2,627$2,226$1,225
16 years$3,930$3,326$2,803$2,352$1,967$1,031
17 years$3,660$3,063$2,551$2,114$1,745$870
18 years$3,421$2,831$2,328$1,905$1,551$736
19 years$3,207$2,623$2,131$1,721$1,383$623
20 years$3,015$2,438$1,956$1,559$1,235$528
21 years$2,841$2,271$1,799$1,415$1,105$449
22 years$2,683$2,120$1,658$1,286$991$381
23 years$2,539$1,983$1,531$1,172$889$324
24 years$2,408$1,857$1,416$1,068$799$276
25 years$2,287$1,743$1,312$976$719$235
26 years$2,175$1,638$1,216$892$648$200
27 years$2,072$1,542$1,130$817$584$171
28 years$1,977$1,453$1,050$748$527$146
29 years$1,888$1,371$977$686$476$124
30 years$1,806$1,294$910$630$430$106
31 years$1,728$1,224$849$578$389$91
32 years$1,656$1,158$792$532$352$77
33 years$1,588$1,096$739$489$318$66
34 years$1,525$1,039$691$450$288$56
35 years$1,465$986$646$414$261$48
36 years$1,409$936$604$381$236$41
37 years$1,356$889$565$351$214$35
38 years$1,305$844$529$324$194$30
39 years$1,258$803$496$299$176$26
40 years$1,213$764$465$275$160$22
41 years$1,170$727$436$254$145$19
42 years$1,129$693$409$234$132$16
43 years$1,091$660$384$216$119$14
44 years$1,054$629$360$200$108$12
45 years$1,019$600$338$185$98$10
46 years$985$572$318$170$89$9
47 years$954$546$298$158$81$7
48 years$923$521$280$146$74$6
49 years$894$498$264$135$67$5
50 years$866$476$248$124$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $887,000, adding $5,280 every year, while hoping to spend $26,353 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: 60/33/7 Blend
57$887,000$887,000$887,000$887,000
58$982,920$935,909$922,161$1,040,170
59$1,055,139$953,729$925,014$1,096,966
60$1,133,840$971,540$927,079$1,155,388
61$1,219,658$989,311$928,303$1,218,444
62$1,313,290$1,007,014$928,627$1,286,580
63$1,415,503$1,024,615$927,993$1,360,288
64$1,527,141$1,042,078$926,339$1,440,108
65$1,649,136$1,059,366$923,597$1,526,639
66$1,782,510$1,076,437$919,699$1,620,538
67$1,928,390$1,093,247$914,574$1,722,530
68$2,088,019$1,109,749$908,145$1,833,414
69$2,262,761$1,125,892$900,333$1,954,070
70$2,454,124$1,141,621$891,054$2,085,469
71$2,663,763$1,156,879$880,223$2,228,679
72$2,893,503$1,171,603$867,747$2,384,880
73$3,145,356$1,185,726$853,532$2,555,371
74$3,421,533$1,199,178$837,476$2,741,584
75$3,724,475$1,211,883$819,477$2,945,097
76$4,056,866$1,223,759$799,424$3,167,650
77$4,421,664$1,234,722$777,202$3,411,161
78$4,822,128$1,244,677$752,693$3,677,744
79$5,261,847$1,253,529$725,770$3,969,729
80$5,744,775$1,261,171$696,303$4,289,686
81$6,275,268$1,267,494$664,155$4,640,446
82$6,858,124$1,272,380$629,183$5,025,131
83$7,498,628$1,275,702$591,236$5,447,181
84$8,202,605$1,277,328$550,159$5,910,389
85$8,976,469$1,277,116$505,788$6,418,938
86$9,827,289$1,274,915$457,953$6,977,436
87$10,762,853$1,270,566$406,474$7,590,963
88$11,791,739$1,263,899$351,166$8,265,121
89$12,923,400$1,254,734$291,834$9,006,083
90$14,168,251$1,242,880$228,275$9,820,656
91$15,537,767$1,228,136$160,276$10,716,341
92$17,044,591$1,210,286$87,617$11,701,407
93$18,702,653$1,189,103$10,066$12,784,970
94$20,527,302$1,164,348$0$13,977,079
95$22,535,450$1,135,764$0$15,294,238
96$24,745,731$1,103,082$0$16,744,382
97$27,178,679$1,066,016$0$18,340,237
98$29,856,917$1,024,264$0$20,096,655
99$32,805,374$977,505$0$22,030,011
100$36,051,521$925,401$0$24,158,349