Can I retire at age 58 with 796,000?

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 $796,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$65,733$65,147$64,576$64,019$63,474$63,127
2 years$32,541$31,935$31,348$30,778$30,226$29,876
3 years$21,479$20,870$20,284$19,720$19,176$18,834
4 years$15,948$15,342$14,762$14,207$13,677$13,345
5 years$12,631$12,028$11,456$10,912$10,397$10,076
6 years$10,420$9,822$9,258$8,727$8,227$7,918
7 years$8,842$8,248$7,693$7,175$6,691$6,393
8 years$7,659$7,070$6,525$6,019$5,550$5,265
9 years$6,739$6,156$5,620$5,127$4,674$4,401
10 years$6,003$5,426$4,899$4,419$3,983$3,721
11 years$5,402$4,831$4,313$3,846$3,425$3,175
12 years$4,901$4,336$3,828$3,373$2,968$2,729
13 years$4,478$3,918$3,420$2,978$2,588$2,361
14 years$4,115$3,562$3,073$2,644$2,269$2,052
15 years$3,801$3,254$2,774$2,358$1,998$1,791
16 years$3,527$2,985$2,515$2,111$1,766$1,569
17 years$3,285$2,749$2,289$1,897$1,566$1,379
18 years$3,070$2,540$2,089$1,709$1,392$1,215
19 years$2,878$2,354$1,913$1,545$1,241$1,073
20 years$2,705$2,188$1,755$1,399$1,108$950
21 years$2,549$2,038$1,615$1,270$992$842
22 years$2,408$1,902$1,488$1,154$889$748
23 years$2,279$1,779$1,374$1,051$798$665
24 years$2,161$1,667$1,271$959$717$592
25 years$2,052$1,564$1,177$876$645$527
26 years$1,952$1,470$1,092$801$581$470
27 years$1,860$1,384$1,014$733$524$420
28 years$1,774$1,304$942$671$473$375
29 years$1,694$1,230$877$616$427$335
30 years$1,620$1,162$817$565$386$299
31 years$1,551$1,098$761$519$349$268
32 years$1,486$1,039$710$477$316$240
33 years$1,426$984$663$439$286$215
34 years$1,368$933$620$404$259$192
35 years$1,315$885$579$372$234$172
36 years$1,264$840$542$342$212$154
37 years$1,217$797$507$315$192$138
38 years$1,171$758$475$291$174$124
39 years$1,129$721$445$268$158$111
40 years$1,088$686$417$247$143$100
41 years$1,050$653$391$228$130$90
42 years$1,013$622$367$210$118$80
43 years$979$592$344$194$107$72
44 years$946$564$323$179$97$65
45 years$914$538$304$166$88$58
46 years$884$513$285$153$80$52
47 years$856$490$268$141$73$47
48 years$828$468$252$131$66$42
49 years$802$447$237$121$60$38
50 years$777$427$222$112$55$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $796,000, adding $2,636 every year, while hoping to spend $51,662 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: 63/18/19 Blend
57$796,000$796,000$796,000$796,000
58$879,911$837,723$825,385$930,927
59$914,694$823,803$798,067$951,665
60$951,293$807,470$768,103$968,245
61$989,840$788,551$735,349$985,144
62$1,030,476$766,862$699,656$1,002,398
63$1,073,356$742,210$660,866$1,020,047
64$1,118,650$714,390$618,817$1,038,139
65$1,166,542$683,185$573,337$1,056,726
66$1,217,234$648,365$524,248$1,075,871
67$1,270,944$609,688$471,363$1,095,643
68$1,327,914$566,897$414,487$1,116,123
69$1,388,406$519,719$353,417$1,137,402
70$1,452,707$467,869$287,941$1,159,584
71$1,521,132$411,043$217,835$1,182,785
72$1,594,023$348,920$142,868$1,207,139
73$1,671,758$281,162$62,799$1,232,797
74$1,754,749$207,411$0$1,259,926
75$1,843,448$127,288$0$1,293,311
76$1,938,351$40,396$0$1,342,458
77$2,040,000$0$0$1,394,921
78$2,148,991$0$0$1,461,663
79$2,265,978$0$0$1,541,928
80$2,391,677$0$0$1,628,212
81$2,526,878$0$0$1,721,061
82$2,672,443$0$0$1,821,073
83$2,829,322$0$0$1,928,908
84$2,998,558$0$0$2,045,287
85$3,181,296$0$0$2,171,005
86$3,378,795$0$0$2,306,936
87$3,592,439$0$0$2,454,037
88$3,823,749$0$0$2,613,364
89$4,074,396$0$0$2,786,077
90$4,346,218$0$0$2,973,450
91$4,641,238$0$0$3,176,886
92$4,961,678$0$0$3,397,927
93$5,309,985$0$0$3,638,269
94$5,688,849$0$0$3,899,780
95$6,101,231$0$0$4,184,512
96$6,550,387$0$0$4,494,727
97$7,039,902$0$0$4,832,910
98$7,573,721$0$0$5,201,799
99$8,156,186$0$0$5,604,406
100$8,792,075$0$0$6,044,048