Can I retire at age 58 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$73,413$72,759$72,121$71,498$70,890$69,430
2 years$36,343$35,666$35,010$34,374$33,757$32,293
3 years$23,988$23,308$22,654$22,024$21,417$19,994
4 years$17,812$17,134$16,486$15,867$15,275$13,905
5 years$14,107$13,433$12,794$12,187$11,612$10,298
6 years$11,638$10,969$10,339$9,746$9,188$7,932
7 years$9,875$9,212$8,592$8,013$7,472$6,274
8 years$8,553$7,896$7,287$6,722$6,199$5,058
9 years$7,526$6,875$6,276$5,726$5,220$4,136
10 years$6,705$6,060$5,472$4,935$4,448$3,420
11 years$6,033$5,395$4,817$4,295$3,825$2,851
12 years$5,474$4,842$4,275$3,768$3,315$2,394
13 years$5,001$4,376$3,820$3,326$2,891$2,021
14 years$4,596$3,978$3,432$2,953$2,534$1,714
15 years$4,245$3,634$3,099$2,633$2,231$1,459
16 years$3,939$3,334$2,809$2,358$1,972$1,246
17 years$3,668$3,070$2,556$2,118$1,748$1,067
18 years$3,429$2,837$2,334$1,909$1,555$916
19 years$3,214$2,629$2,136$1,725$1,386$787
20 years$3,021$2,443$1,961$1,562$1,238$678
21 years$2,847$2,276$1,803$1,418$1,108$584
22 years$2,689$2,124$1,662$1,289$993$504
23 years$2,545$1,987$1,535$1,174$891$436
24 years$2,413$1,862$1,419$1,071$801$377
25 years$2,292$1,747$1,315$978$721$326
26 years$2,180$1,642$1,219$894$649$283
27 years$2,077$1,545$1,132$819$585$245
28 years$1,981$1,456$1,052$750$528$212
29 years$1,892$1,374$979$688$477$184
30 years$1,810$1,297$912$631$431$160
31 years$1,732$1,226$850$580$390$139
32 years$1,660$1,160$793$533$352$120
33 years$1,592$1,099$741$490$319$104
34 years$1,528$1,042$692$451$289$91
35 years$1,468$988$647$415$262$79
36 years$1,412$938$605$382$237$68
37 years$1,359$891$567$352$215$59
38 years$1,308$846$531$325$195$52
39 years$1,261$805$497$299$177$45
40 years$1,215$766$466$276$160$39
41 years$1,173$729$437$255$145$34
42 years$1,132$694$410$235$132$29
43 years$1,093$661$385$217$120$26
44 years$1,056$630$361$200$109$22
45 years$1,021$601$339$185$99$19
46 years$988$573$318$171$90$17
47 years$956$547$299$158$81$15
48 years$925$522$281$146$74$13
49 years$896$499$264$135$67$11
50 years$868$477$248$125$61$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $889,000, adding $3,035 every year, while hoping to spend $41,072 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: 48/46/6 Blend
57$889,000$889,000$889,000$889,000
58$982,809$935,692$921,912$1,028,313
59$1,039,355$937,840$909,096$1,061,908
60$1,100,292$938,718$894,474$1,093,759
61$1,166,025$938,218$877,942$1,127,367
62$1,236,998$936,229$859,391$1,162,907
63$1,313,700$932,632$838,709$1,200,572
64$1,396,667$927,301$815,775$1,240,578
65$1,486,489$920,100$790,465$1,283,164
66$1,583,814$910,889$762,650$1,328,598
67$1,689,357$899,516$732,192$1,377,175
68$1,803,901$885,822$698,950$1,429,224
69$1,928,308$869,637$662,774$1,485,111
70$2,063,528$850,781$623,510$1,545,242
71$2,210,604$829,066$580,994$1,610,067
72$2,370,685$804,289$535,056$1,680,085
73$2,545,034$776,238$485,519$1,755,853
74$2,735,041$744,688$432,198$1,837,985
75$2,942,237$709,399$374,898$1,927,163
76$3,168,306$670,121$313,418$2,024,145
77$3,415,102$626,585$247,547$2,129,769
78$3,684,665$578,511$177,062$2,244,966
79$3,979,242$525,599$101,735$2,370,765
80$4,301,307$467,535$21,325$2,508,308
81$4,653,582$403,986$0$2,658,859
82$5,039,065$334,600$0$2,827,947
83$5,461,059$259,004$0$3,014,719
84$5,923,198$176,806$0$3,219,542
85$6,429,486$87,592$0$3,444,333
86$6,984,333$0$0$3,691,214
87$7,592,594$0$0$3,967,124
88$8,259,617$0$0$4,318,407
89$8,991,292$0$0$4,703,840
90$9,794,108$0$0$5,126,853
91$10,675,211$0$0$5,591,226
92$11,642,472$0$0$6,101,119
93$12,704,564$0$0$6,661,119
94$13,871,037$0$0$7,276,275
95$15,152,415$0$0$7,952,153
96$16,560,289$0$0$8,694,882
97$18,107,430$0$0$9,511,214
98$19,807,906$0$0$10,408,591
99$21,677,216$0$0$11,395,208
100$23,732,437$0$0$12,480,095