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%14.2%
1 years$65,816$65,229$64,657$64,099$63,554$62,450
2 years$32,582$31,975$31,387$30,817$30,264$29,155
3 years$21,506$20,896$20,309$19,745$19,201$18,121
4 years$15,968$15,361$14,780$14,225$13,694$12,653
5 years$12,647$12,043$11,470$10,926$10,410$9,410
6 years$10,433$9,834$9,269$8,738$8,237$7,280
7 years$8,853$8,259$7,703$7,184$6,699$5,784
8 years$7,668$7,079$6,533$6,026$5,557$4,685
9 years$6,747$6,164$5,627$5,133$4,680$3,849
10 years$6,011$5,433$4,905$4,425$3,988$3,198
11 years$5,409$4,837$4,319$3,851$3,430$2,680
12 years$4,907$4,341$3,833$3,378$2,972$2,262
13 years$4,483$3,923$3,424$2,982$2,592$1,920
14 years$4,120$3,566$3,077$2,647$2,272$1,637
15 years$3,806$3,258$2,778$2,361$2,000$1,401
16 years$3,531$2,989$2,519$2,114$1,768$1,203
17 years$3,289$2,753$2,292$1,899$1,568$1,036
18 years$3,074$2,544$2,092$1,712$1,394$894
19 years$2,882$2,357$1,915$1,547$1,242$774
20 years$2,709$2,191$1,758$1,401$1,110$670
21 years$2,553$2,040$1,617$1,271$993$581
22 years$2,411$1,905$1,490$1,156$890$505
23 years$2,282$1,781$1,376$1,053$799$439
24 years$2,163$1,669$1,272$960$718$382
25 years$2,055$1,566$1,178$877$646$333
26 years$1,955$1,472$1,093$802$582$290
27 years$1,862$1,385$1,015$734$525$253
28 years$1,776$1,305$944$672$474$221
29 years$1,697$1,232$878$617$428$193
30 years$1,622$1,163$818$566$386$168
31 years$1,553$1,099$762$520$349$147
32 years$1,488$1,040$711$478$316$128
33 years$1,427$985$664$439$286$112
34 years$1,370$934$621$404$259$98
35 years$1,316$886$580$372$234$86
36 years$1,266$841$543$343$212$75
37 years$1,218$798$508$316$193$66
38 years$1,173$759$476$291$175$57
39 years$1,130$721$446$268$158$50
40 years$1,090$686$418$247$144$44
41 years$1,051$653$392$228$130$38
42 years$1,015$622$367$211$118$34
43 years$980$593$345$194$107$29
44 years$947$565$324$180$97$26
45 years$915$539$304$166$88$23
46 years$885$514$285$153$80$20
47 years$857$491$268$142$73$17
48 years$829$468$252$131$66$15
49 years$803$447$237$121$60$13
50 years$778$427$223$112$55$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $797,000, adding $5,451 every year, while hoping to spend $39,191 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: 54/17/29 Blend
57$797,000$797,000$797,000$797,000
58$883,917$841,676$829,322$924,246
59$932,377$841,219$815,406$952,292
60$984,467$839,426$799,709$978,362
61$1,040,516$836,191$782,132$1,005,969
62$1,100,883$831,399$762,569$1,035,277
63$1,165,967$824,931$740,908$1,066,467
64$1,236,202$816,659$717,035$1,099,741
65$1,312,067$806,448$690,829$1,135,324
66$1,394,089$794,155$662,162$1,173,464
67$1,482,844$779,627$630,903$1,214,441
68$1,578,970$762,704$596,913$1,258,561
69$1,683,163$743,215$560,048$1,306,167
70$1,796,193$720,980$520,157$1,357,639
71$1,918,905$695,808$477,083$1,413,398
72$2,052,227$667,497$430,659$1,473,913
73$2,197,183$635,832$380,715$1,539,701
74$2,354,896$600,589$327,069$1,611,338
75$2,526,605$561,527$269,535$1,689,461
76$2,713,670$518,394$207,916$1,774,778
77$2,917,591$470,921$142,008$1,868,070
78$3,140,016$418,827$71,596$1,970,205
79$3,382,761$361,812$0$2,082,143
80$3,647,823$299,562$0$2,206,045
81$3,937,402$231,741$0$2,365,702
82$4,253,919$157,999$0$2,540,316
83$4,600,041$77,963$0$2,731,406
84$4,978,702$0$0$2,940,648
85$5,393,134$0$0$3,171,529
86$5,846,897$0$0$3,440,362
87$6,343,908$0$0$3,734,895
88$6,888,485$0$0$4,057,695
89$7,485,380$0$0$4,411,587
90$8,139,827$0$0$4,799,687
91$8,857,593$0$0$5,225,424
92$9,645,027$0$0$5,692,575
93$10,509,124$0$0$6,205,302
94$11,457,588$0$0$6,768,188
95$12,498,907$0$0$7,386,281
96$13,642,428$0$0$8,065,143
97$14,898,451$0$0$8,810,901
98$16,278,319$0$0$9,630,305
99$17,794,531$0$0$10,530,790
100$19,460,855$0$0$11,520,547