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%13.7%
1 years$73,248$72,595$71,959$71,337$70,731$69,645
2 years$36,261$35,586$34,931$34,297$33,681$32,590
3 years$23,934$23,256$22,603$21,974$21,369$20,306
4 years$17,772$17,095$16,449$15,831$15,240$14,214
5 years$14,075$13,403$12,765$12,160$11,585$10,599
6 years$11,612$10,945$10,316$9,724$9,167$8,221
7 years$9,853$9,191$8,573$7,995$7,455$6,551
8 years$8,534$7,879$7,270$6,707$6,185$5,321
9 years$7,509$6,860$6,262$5,713$5,209$4,385
10 years$6,689$6,047$5,459$4,924$4,438$3,655
11 years$6,019$5,383$4,806$4,286$3,817$3,072
12 years$5,461$4,831$4,265$3,759$3,308$2,601
13 years$4,990$4,366$3,811$3,319$2,884$2,215
14 years$4,585$3,969$3,424$2,946$2,528$1,895
15 years$4,236$3,625$3,092$2,627$2,226$1,628
16 years$3,930$3,326$2,803$2,352$1,967$1,403
17 years$3,660$3,063$2,551$2,114$1,745$1,212
18 years$3,421$2,831$2,328$1,905$1,551$1,050
19 years$3,207$2,623$2,131$1,721$1,383$912
20 years$3,015$2,438$1,956$1,559$1,235$793
21 years$2,841$2,271$1,799$1,415$1,105$690
22 years$2,683$2,120$1,658$1,286$991$602
23 years$2,539$1,983$1,531$1,172$889$525
24 years$2,408$1,857$1,416$1,068$799$459
25 years$2,287$1,743$1,312$976$719$401
26 years$2,175$1,638$1,216$892$648$351
27 years$2,072$1,542$1,130$817$584$308
28 years$1,977$1,453$1,050$748$527$269
29 years$1,888$1,371$977$686$476$236
30 years$1,806$1,294$910$630$430$207
31 years$1,728$1,224$849$578$389$182
32 years$1,656$1,158$792$532$352$159
33 years$1,588$1,096$739$489$318$140
34 years$1,525$1,039$691$450$288$123
35 years$1,465$986$646$414$261$108
36 years$1,409$936$604$381$236$95
37 years$1,356$889$565$351$214$83
38 years$1,305$844$529$324$194$73
39 years$1,258$803$496$299$176$64
40 years$1,213$764$465$275$160$56
41 years$1,170$727$436$254$145$50
42 years$1,129$693$409$234$132$44
43 years$1,091$660$384$216$119$38
44 years$1,054$629$360$200$108$34
45 years$1,019$600$338$185$98$30
46 years$985$572$318$170$89$26
47 years$954$546$298$158$81$23
48 years$923$521$280$146$74$20
49 years$894$498$264$135$67$18
50 years$866$476$248$124$61$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $887,000, adding $5,157 every year, while hoping to spend $29,993 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: 27/44/29 Blend
57$887,000$887,000$887,000$887,000
58$982,793$935,782$922,034$1,000,375
59$1,051,126$949,723$921,010$1,029,024
60$1,125,423$963,342$918,946$1,056,857
61$1,206,262$976,592$915,776$1,086,136
62$1,294,277$989,421$911,431$1,117,006
63$1,390,166$1,001,775$905,836$1,149,627
64$1,494,697$1,013,597$898,917$1,184,178
65$1,608,717$1,024,824$890,591$1,220,860
66$1,733,157$1,035,390$880,776$1,259,892
67$1,869,040$1,045,225$869,383$1,301,521
68$2,017,494$1,054,254$856,320$1,346,020
69$2,179,763$1,062,396$841,491$1,393,693
70$2,357,211$1,069,567$824,794$1,444,877
71$2,551,346$1,075,675$806,123$1,499,946
72$2,763,824$1,080,623$785,369$1,559,317
73$2,996,470$1,084,310$762,415$1,623,449
74$3,251,295$1,086,626$737,141$1,692,854
75$3,530,510$1,087,454$709,419$1,768,100
76$3,836,555$1,086,672$679,117$1,849,814
77$4,172,113$1,084,149$646,097$1,938,695
78$4,540,142$1,079,745$610,214$2,035,514
79$4,943,897$1,073,313$571,316$2,141,127
80$5,386,965$1,064,696$529,247$2,256,482
81$5,873,299$1,053,730$483,840$2,382,629
82$6,407,250$1,040,237$434,923$2,520,729
83$6,993,613$1,024,032$382,316$2,672,069
84$7,637,669$1,004,916$325,831$2,838,073
85$8,345,235$982,682$265,270$3,020,317
86$9,122,722$957,106$200,430$3,220,545
87$9,977,190$927,955$131,095$3,440,684
88$10,916,418$894,979$57,041$3,682,867
89$11,948,977$857,917$0$3,949,455
90$13,084,307$816,490$0$4,249,857
91$14,332,812$770,404$0$4,599,432
92$15,705,953$719,347$0$4,983,778
93$17,216,357$662,992$0$5,406,498
94$18,877,936$600,989$0$5,871,571
95$20,706,020$532,972$0$6,383,389
96$22,717,499$458,552$0$6,946,795
97$24,930,981$377,319$0$7,567,137
98$27,366,972$288,838$0$8,250,316
99$30,048,064$192,653$0$9,002,841
100$32,999,153$88,279$0$9,831,896