Can I retire at age 58 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$72,917$72,268$71,634$71,016$70,412$68,460
2 years$36,098$35,425$34,774$34,142$33,529$31,577
3 years$23,826$23,151$22,501$21,875$21,272$19,381
4 years$17,691$17,018$16,375$15,760$15,172$13,356
5 years$14,012$13,343$12,708$12,105$11,533$9,799
6 years$11,559$10,895$10,270$9,681$9,126$7,473
7 years$9,808$9,150$8,534$7,959$7,422$5,852
8 years$8,496$7,843$7,238$6,677$6,157$4,668
9 years$7,475$6,829$6,234$5,687$5,185$3,776
10 years$6,659$6,019$5,435$4,902$4,418$3,087
11 years$5,992$5,359$4,785$4,266$3,800$2,545
12 years$5,437$4,810$4,246$3,742$3,293$2,112
13 years$4,967$4,346$3,794$3,304$2,871$1,761
14 years$4,565$3,951$3,409$2,933$2,517$1,476
15 years$4,216$3,609$3,078$2,615$2,216$1,240
16 years$3,912$3,311$2,790$2,342$1,959$1,046
17 years$3,644$3,050$2,539$2,104$1,737$884
18 years$3,405$2,818$2,318$1,896$1,544$748
19 years$3,192$2,612$2,122$1,713$1,376$635
20 years$3,001$2,427$1,947$1,552$1,229$539
21 years$2,828$2,261$1,791$1,408$1,100$459
22 years$2,671$2,110$1,651$1,281$986$390
23 years$2,528$1,974$1,524$1,166$885$333
24 years$2,397$1,849$1,410$1,064$796$284
25 years$2,277$1,735$1,306$971$716$242
26 years$2,166$1,631$1,211$888$645$207
27 years$2,063$1,535$1,124$813$581$176
28 years$1,968$1,446$1,045$745$525$151
29 years$1,880$1,364$973$683$474$129
30 years$1,797$1,289$906$627$428$110
31 years$1,721$1,218$845$576$387$94
32 years$1,649$1,153$788$529$350$80
33 years$1,581$1,092$736$487$317$69
34 years$1,518$1,034$688$448$287$59
35 years$1,459$981$643$412$260$50
36 years$1,402$931$601$380$235$43
37 years$1,349$885$563$350$213$37
38 years$1,299$841$527$322$193$32
39 years$1,252$799$494$297$175$27
40 years$1,207$761$463$274$159$23
41 years$1,165$724$434$253$144$20
42 years$1,124$689$407$233$131$17
43 years$1,086$657$382$215$119$14
44 years$1,049$626$359$199$108$12
45 years$1,014$597$337$184$98$11
46 years$981$570$316$170$89$9
47 years$949$544$297$157$81$8
48 years$919$519$279$145$73$7
49 years$890$496$262$134$67$6
50 years$862$473$247$124$60$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $883,000, adding $5,351 every year, while hoping to spend $50,296 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: 89/5/6 Blend
57$883,000$883,000$883,000$883,000
58$978,586$931,787$918,100$1,065,055
59$1,024,887$923,930$895,342$1,114,265
60$1,074,225$914,002$870,136$1,160,732
61$1,126,857$901,849$842,346$1,210,157
62$1,183,064$887,307$811,832$1,262,800
63$1,243,153$870,202$778,446$1,318,943
64$1,307,464$850,351$742,032$1,378,900
65$1,376,366$827,559$702,431$1,443,014
66$1,450,265$801,619$659,472$1,511,662
67$1,529,607$772,314$612,980$1,585,259
68$1,614,882$739,412$562,770$1,664,262
69$1,706,627$702,670$508,650$1,749,172
70$1,805,431$661,829$450,417$1,840,543
71$1,911,942$616,615$387,863$1,938,982
72$2,026,871$566,741$320,768$2,045,159
73$2,151,000$511,899$248,902$2,159,810
74$2,285,189$451,769$172,026$2,283,746
75$2,430,380$386,007$89,891$2,417,859
76$2,587,612$314,255$2,236$2,563,134
77$2,758,025$236,130$0$2,720,652
78$2,942,875$151,232$0$2,897,450
79$3,143,540$59,134$0$3,089,530
80$3,361,539$0$0$3,298,211
81$3,598,541$0$0$3,527,342
82$3,856,381$0$0$3,780,163
83$4,137,082$0$0$4,055,402
84$4,442,865$0$0$4,355,240
85$4,776,178$0$0$4,682,076
86$5,139,713$0$0$5,038,552
87$5,536,434$0$0$5,427,573
88$5,969,604$0$0$5,852,340
89$6,442,813$0$0$6,316,375
90$6,960,016$0$0$6,823,554
91$7,525,564$0$0$7,378,148
92$8,144,250$0$0$7,984,856
93$8,821,352$0$0$8,648,853
94$9,562,678$0$0$9,375,838
95$10,374,629$0$0$10,172,088
96$11,264,251$0$0$11,044,512
97$12,239,303$0$0$12,000,721
98$13,308,333$0$0$13,049,099
99$14,480,753$0$0$14,198,877
100$15,766,932$0$0$15,460,223