Can I retire at age 58 with 797,000?

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 $797,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$65,816$65,229$64,657$64,099$63,554$61,992
2 years$32,582$31,975$31,387$30,817$30,264$28,700
3 years$21,506$20,896$20,309$19,745$19,201$17,684
4 years$15,968$15,361$14,780$14,225$13,694$12,236
5 years$12,647$12,043$11,470$10,926$10,410$9,014
6 years$10,433$9,834$9,269$8,738$8,237$6,905
7 years$8,853$8,259$7,703$7,184$6,699$5,431
8 years$7,668$7,079$6,533$6,026$5,557$4,353
9 years$6,747$6,164$5,627$5,133$4,680$3,539
10 years$6,011$5,433$4,905$4,425$3,988$2,908
11 years$5,409$4,837$4,319$3,851$3,430$2,409
12 years$4,907$4,341$3,833$3,378$2,972$2,009
13 years$4,483$3,923$3,424$2,982$2,592$1,685
14 years$4,120$3,566$3,077$2,647$2,272$1,419
15 years$3,806$3,258$2,778$2,361$2,000$1,200
16 years$3,531$2,989$2,519$2,114$1,768$1,018
17 years$3,289$2,753$2,292$1,899$1,568$865
18 years$3,074$2,544$2,092$1,712$1,394$737
19 years$2,882$2,357$1,915$1,547$1,242$629
20 years$2,709$2,191$1,758$1,401$1,110$537
21 years$2,553$2,040$1,617$1,271$993$460
22 years$2,411$1,905$1,490$1,156$890$394
23 years$2,282$1,781$1,376$1,053$799$338
24 years$2,163$1,669$1,272$960$718$290
25 years$2,055$1,566$1,178$877$646$249
26 years$1,955$1,472$1,093$802$582$214
27 years$1,862$1,385$1,015$734$525$184
28 years$1,776$1,305$944$672$474$158
29 years$1,697$1,232$878$617$428$136
30 years$1,622$1,163$818$566$386$117
31 years$1,553$1,099$762$520$349$101
32 years$1,488$1,040$711$478$316$87
33 years$1,427$985$664$439$286$75
34 years$1,370$934$621$404$259$64
35 years$1,316$886$580$372$234$55
36 years$1,266$841$543$343$212$48
37 years$1,218$798$508$316$193$41
38 years$1,173$759$476$291$175$35
39 years$1,130$721$446$268$158$30
40 years$1,090$686$418$247$144$26
41 years$1,051$653$392$228$130$23
42 years$1,015$622$367$211$118$20
43 years$980$593$345$194$107$17
44 years$947$565$324$180$97$14
45 years$915$539$304$166$88$12
46 years$885$514$285$153$80$11
47 years$857$491$268$142$73$9
48 years$829$468$252$131$66$8
49 years$803$447$237$121$60$7
50 years$778$427$223$112$55$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $797,000, adding $5,896 every year, while hoping to spend $53,578 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: 46/31/23 Blend
57$797,000$797,000$797,000$797,000
58$884,376$842,135$829,781$918,980
59$917,575$826,393$800,572$928,152
60$952,366$808,084$768,589$932,357
61$988,853$787,025$733,682$935,836
62$1,027,150$763,024$695,696$938,549
63$1,067,384$735,877$654,465$940,453
64$1,109,688$705,366$609,821$941,506
65$1,154,211$671,263$561,584$941,666
66$1,201,111$633,326$509,569$940,890
67$1,250,565$591,299$453,579$939,140
68$1,302,761$544,911$393,413$936,373
69$1,357,908$493,877$328,857$932,552
70$1,416,230$437,893$259,690$927,642
71$1,477,976$376,640$185,680$921,607
72$1,543,415$309,781$106,586$914,418
73$1,612,841$236,958$22,154$906,048
74$1,686,576$157,794$0$896,475
75$1,764,973$71,892$0$902,359
76$1,848,417$0$0$913,901
77$1,937,330$0$0$932,948
78$2,032,174$0$0$979,479
79$2,133,455$0$0$1,029,224
80$2,241,727$0$0$1,082,463
81$2,357,599$0$0$1,139,503
82$2,481,738$0$0$1,200,679
83$2,614,873$0$0$1,266,361
84$2,757,809$0$0$1,336,954
85$2,911,425$0$0$1,412,903
86$3,076,688$0$0$1,494,695
87$3,254,659$0$0$1,582,866
88$3,446,503$0$0$1,678,006
89$3,653,502$0$0$1,780,761
90$3,877,062$0$0$1,891,843
91$4,118,727$0$0$2,012,032
92$4,380,199$0$0$2,142,189
93$4,663,343$0$0$2,283,256
94$4,970,213$0$0$2,436,273
95$5,303,068$0$0$2,602,382
96$5,664,389$0$0$2,782,839
97$6,056,908$0$0$2,979,025
98$6,483,628$0$0$3,192,461
99$6,947,854$0$0$3,424,819
100$7,453,223$0$0$3,677,939