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%13.4%
1 years$65,733$65,147$64,576$64,019$63,474$62,577
2 years$32,541$31,935$31,348$30,778$30,226$29,324
3 years$21,479$20,870$20,284$19,720$19,176$18,298
4 years$15,948$15,342$14,762$14,207$13,677$12,828
5 years$12,631$12,028$11,456$10,912$10,397$9,580
6 years$10,420$9,822$9,258$8,727$8,227$7,443
7 years$8,842$8,248$7,693$7,175$6,691$5,941
8 years$7,659$7,070$6,525$6,019$5,550$4,834
9 years$6,739$6,156$5,620$5,127$4,674$3,991
10 years$6,003$5,426$4,899$4,419$3,983$3,332
11 years$5,402$4,831$4,313$3,846$3,425$2,806
12 years$4,901$4,336$3,828$3,373$2,968$2,381
13 years$4,478$3,918$3,420$2,978$2,588$2,031
14 years$4,115$3,562$3,073$2,644$2,269$1,741
15 years$3,801$3,254$2,774$2,358$1,998$1,499
16 years$3,527$2,985$2,515$2,111$1,766$1,294
17 years$3,285$2,749$2,289$1,897$1,566$1,121
18 years$3,070$2,540$2,089$1,709$1,392$973
19 years$2,878$2,354$1,913$1,545$1,241$847
20 years$2,705$2,188$1,755$1,399$1,108$738
21 years$2,549$2,038$1,615$1,270$992$644
22 years$2,408$1,902$1,488$1,154$889$563
23 years$2,279$1,779$1,374$1,051$798$492
24 years$2,161$1,667$1,271$959$717$431
25 years$2,052$1,564$1,177$876$645$378
26 years$1,952$1,470$1,092$801$581$331
27 years$1,860$1,384$1,014$733$524$291
28 years$1,774$1,304$942$671$473$256
29 years$1,694$1,230$877$616$427$225
30 years$1,620$1,162$817$565$386$197
31 years$1,551$1,098$761$519$349$174
32 years$1,486$1,039$710$477$316$153
33 years$1,426$984$663$439$286$134
34 years$1,368$933$620$404$259$118
35 years$1,315$885$579$372$234$104
36 years$1,264$840$542$342$212$92
37 years$1,217$797$507$315$192$81
38 years$1,171$758$475$291$174$71
39 years$1,129$721$445$268$158$63
40 years$1,088$686$417$247$143$55
41 years$1,050$653$391$228$130$49
42 years$1,013$622$367$210$118$43
43 years$979$592$344$194$107$38
44 years$946$564$323$179$97$33
45 years$914$538$304$166$88$29
46 years$884$513$285$153$80$26
47 years$856$490$268$141$73$23
48 years$828$468$252$131$66$20
49 years$802$447$237$121$60$18
50 years$777$427$222$112$55$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $796,000, adding $3,265 every year, while hoping to spend $42,158 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: 82/8/10 Blend
57$796,000$796,000$796,000$796,000
58$880,560$838,372$826,034$951,130
59$925,521$834,596$808,850$994,050
60$973,656$829,223$789,678$1,035,242
61$1,025,242$822,128$768,406$1,079,196
62$1,080,587$813,183$744,918$1,126,167
63$1,140,027$802,249$719,092$1,176,433
64$1,203,930$789,179$690,802$1,230,303
65$1,272,701$773,819$659,914$1,288,116
66$1,346,784$756,004$626,289$1,350,246
67$1,426,669$735,561$589,783$1,417,104
68$1,512,891$712,306$550,242$1,489,144
69$1,606,040$686,042$507,509$1,566,866
70$1,706,763$656,566$461,418$1,650,822
71$1,815,773$623,657$411,795$1,741,618
72$1,933,851$587,086$358,460$1,839,923
73$2,061,859$546,608$301,224$1,946,476
74$2,200,743$501,966$239,889$2,062,090
75$2,351,543$452,886$174,249$2,187,661
76$2,515,403$399,081$104,089$2,324,176
77$2,693,584$340,245$29,186$2,472,726
78$2,887,469$276,057$0$2,634,511
79$3,098,584$206,177$0$2,816,269
80$3,328,605$130,245$0$3,017,720
81$3,579,378$47,883$0$3,237,384
82$3,852,935$0$0$3,477,060
83$4,151,511$0$0$3,742,372
84$4,477,567$0$0$4,036,723
85$4,833,813$0$0$4,358,346
86$5,223,231$0$0$4,709,935
87$5,649,106$0$0$5,094,458
88$6,115,052$0$0$5,515,181
89$6,625,052$0$0$5,975,703
90$7,183,490$0$0$6,479,984
91$7,795,192$0$0$7,032,387
92$8,465,476$0$0$7,637,715
93$9,200,198$0$0$8,301,259
94$10,005,804$0$0$9,028,847
95$10,889,399$0$0$9,826,896
96$11,858,806$0$0$10,702,474
97$12,922,640$0$0$11,663,369
98$14,090,394$0$0$12,718,156
99$15,372,523$0$0$13,876,282
100$16,780,544$0$0$15,148,155