Can I retire at age 58 with 881,000?

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 $881,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$72,752$72,104$71,472$70,855$70,252$69,145
2 years$36,016$35,345$34,695$34,065$33,453$32,341
3 years$23,772$23,098$22,450$21,826$21,224$20,141
4 years$17,651$16,980$16,338$15,724$15,137$14,092
5 years$13,980$13,312$12,679$12,078$11,507$10,502
6 years$11,533$10,871$10,246$9,659$9,105$8,142
7 years$9,786$9,129$8,515$7,941$7,405$6,484
8 years$8,476$7,825$7,221$6,661$6,143$5,264
9 years$7,458$6,813$6,220$5,674$5,173$4,335
10 years$6,644$6,006$5,422$4,891$4,408$3,611
11 years$5,979$5,346$4,774$4,257$3,791$3,034
12 years$5,424$4,799$4,237$3,734$3,285$2,567
13 years$4,956$4,337$3,785$3,296$2,865$2,184
14 years$4,554$3,942$3,401$2,926$2,511$1,868
15 years$4,207$3,601$3,071$2,610$2,211$1,603
16 years$3,903$3,304$2,784$2,337$1,954$1,381
17 years$3,635$3,043$2,533$2,099$1,733$1,192
18 years$3,398$2,812$2,313$1,892$1,541$1,032
19 years$3,185$2,606$2,117$1,710$1,373$895
20 years$2,994$2,421$1,943$1,548$1,227$778
21 years$2,822$2,255$1,787$1,405$1,098$677
22 years$2,665$2,105$1,647$1,278$984$590
23 years$2,522$1,969$1,521$1,164$883$514
24 years$2,391$1,845$1,406$1,061$794$449
25 years$2,271$1,731$1,303$969$714$392
26 years$2,161$1,627$1,208$886$643$343
27 years$2,058$1,531$1,122$811$580$300
28 years$1,964$1,443$1,043$743$523$263
29 years$1,875$1,361$971$682$473$230
30 years$1,793$1,286$904$625$427$202
31 years$1,717$1,215$843$574$386$177
32 years$1,645$1,150$786$528$349$155
33 years$1,578$1,089$734$485$316$136
34 years$1,515$1,032$686$447$286$119
35 years$1,455$979$641$411$259$105
36 years$1,399$929$600$379$235$92
37 years$1,346$883$562$349$213$81
38 years$1,296$839$526$322$193$71
39 years$1,249$798$493$297$175$62
40 years$1,204$759$462$274$159$55
41 years$1,162$722$433$252$144$48
42 years$1,122$688$406$233$131$42
43 years$1,083$655$381$215$119$37
44 years$1,047$625$358$199$108$32
45 years$1,012$596$336$183$98$28
46 years$979$568$316$169$89$25
47 years$947$542$296$156$81$22
48 years$917$518$279$145$73$19
49 years$888$494$262$134$66$17
50 years$860$472$246$123$60$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $881,000, adding $4,864 every year, while hoping to spend $45,700 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: 54/35/11 Blend
57$881,000$881,000$881,000$881,000
58$975,879$929,186$915,531$1,025,578
59$1,026,794$926,092$897,577$1,056,772
60$1,081,371$921,314$877,489$1,085,328
61$1,139,935$914,723$855,149$1,115,338
62$1,202,843$906,178$830,431$1,146,950
63$1,270,486$895,534$803,204$1,180,327
64$1,343,295$882,635$773,330$1,215,654
65$1,421,742$867,315$740,667$1,253,134
66$1,506,345$849,399$705,066$1,292,994
67$1,597,675$828,702$666,368$1,335,489
68$1,696,358$805,028$624,411$1,380,901
69$1,803,081$778,169$579,024$1,429,542
70$1,918,602$747,906$530,027$1,481,763
71$2,043,751$714,005$477,235$1,537,952
72$2,179,443$676,221$420,452$1,598,541
73$2,326,684$634,293$359,475$1,664,009
74$2,486,578$587,947$294,090$1,734,889
75$2,660,343$536,890$224,076$1,811,773
76$2,849,316$480,816$149,200$1,895,318
77$3,054,970$419,399$69,222$1,986,254
78$3,278,923$352,296$0$2,085,389
79$3,522,958$279,143$0$2,195,515
80$3,789,037$199,559$0$2,324,526
81$4,079,318$113,136$0$2,465,425
82$4,396,178$19,449$0$2,619,470
83$4,742,231$0$0$2,788,051
84$5,120,358$0$0$3,004,271
85$5,533,728$0$0$3,248,912
86$5,985,831$0$0$3,516,561
87$6,480,510$0$0$3,809,501
88$7,021,996$0$0$4,130,251
89$7,614,948$0$0$4,481,580
90$8,264,498$0$0$4,866,542
91$8,976,296$0$0$5,288,497
92$9,756,565$0$0$5,751,146
93$10,612,160$0$0$6,258,567
94$11,550,628$0$0$6,815,251
95$12,580,285$0$0$7,426,143
96$13,710,289$0$0$8,096,691
97$14,950,729$0$0$8,832,898
98$16,312,715$0$0$9,641,374
99$17,808,490$0$0$10,529,401
100$19,451,539$0$0$11,505,001