Can I retire at age 58 with 798,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $798,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$65,898$65,311$64,738$64,179$63,634$61,376
2 years$32,623$32,015$31,426$30,856$30,302$28,051
3 years$21,533$20,922$20,335$19,769$19,225$17,052
4 years$15,988$15,380$14,799$14,243$13,711$11,633
5 years$12,663$12,058$11,484$10,940$10,423$8,445
6 years$10,447$9,846$9,281$8,749$8,247$6,371
7 years$8,864$8,269$7,713$7,193$6,707$4,932
8 years$7,678$7,088$6,541$6,034$5,564$3,888
9 years$6,756$6,171$5,634$5,139$4,686$3,107
10 years$6,018$5,440$4,912$4,430$3,993$2,509
11 years$5,415$4,843$4,324$3,856$3,434$2,041
12 years$4,913$4,347$3,838$3,382$2,976$1,672
13 years$4,489$3,928$3,429$2,986$2,595$1,375
14 years$4,125$3,570$3,081$2,650$2,275$1,136
15 years$3,811$3,262$2,781$2,364$2,003$942
16 years$3,535$2,993$2,522$2,116$1,770$783
17 years$3,293$2,756$2,295$1,902$1,569$652
18 years$3,078$2,547$2,095$1,714$1,395$544
19 years$2,885$2,360$1,918$1,548$1,244$454
20 years$2,712$2,193$1,760$1,402$1,111$380
21 years$2,556$2,043$1,619$1,273$994$318
22 years$2,414$1,907$1,492$1,157$891$267
23 years$2,285$1,784$1,378$1,054$800$224
24 years$2,166$1,671$1,274$961$719$188
25 years$2,057$1,568$1,180$878$647$158
26 years$1,957$1,474$1,094$803$583$132
27 years$1,864$1,387$1,016$735$525$111
28 years$1,779$1,307$945$673$474$93
29 years$1,699$1,233$879$617$428$79
30 years$1,624$1,165$819$567$387$66
31 years$1,555$1,101$763$520$350$56
32 years$1,490$1,042$712$478$316$47
33 years$1,429$986$665$440$286$39
34 years$1,372$935$621$405$259$33
35 years$1,318$887$581$372$235$28
36 years$1,267$842$543$343$213$23
37 years$1,220$799$509$316$193$20
38 years$1,174$760$476$291$175$17
39 years$1,132$722$446$269$159$14
40 years$1,091$687$418$248$144$12
41 years$1,053$654$392$229$130$10
42 years$1,016$623$368$211$118$8
43 years$981$594$345$195$107$7
44 years$948$566$324$180$98$6
45 years$917$540$304$166$89$5
46 years$887$515$286$153$80$4
47 years$858$491$269$142$73$4
48 years$830$469$252$131$66$3
49 years$804$448$237$121$60$2
50 years$779$428$223$112$55$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $798,000, adding $3,853 every year, while hoping to spend $57,012 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: 64/6/30 Blend
57$798,000$798,000$798,000$798,000
58$883,370$841,076$828,707$932,590
59$912,814$821,629$795,809$946,991
60$943,350$799,317$759,897$956,138
61$975,029$773,942$720,812$964,920
62$1,007,907$745,290$678,384$973,309
63$1,042,041$713,137$632,437$981,278
64$1,077,494$677,245$582,788$988,799
65$1,114,332$637,363$529,245$995,843
66$1,152,625$593,226$471,606$1,002,382
67$1,192,450$544,551$409,663$1,008,386
68$1,233,889$491,043$343,195$1,013,827
69$1,277,028$432,386$271,974$1,018,677
70$1,321,962$368,250$195,763$1,022,905
71$1,368,791$298,284$114,310$1,026,485
72$1,417,625$222,117$27,356$1,029,390
73$1,468,580$139,358$0$1,031,593
74$1,521,782$49,594$0$1,054,016
75$1,577,369$0$0$1,086,397
76$1,635,487$0$0$1,123,187
77$1,696,296$0$0$1,165,120
78$1,759,968$0$0$1,209,042
79$1,826,689$0$0$1,255,085
80$1,896,664$0$0$1,303,389
81$1,970,111$0$0$1,354,109
82$2,047,269$0$0$1,407,413
83$2,128,397$0$0$1,463,482
84$2,213,779$0$0$1,522,515
85$2,303,720$0$0$1,584,726
86$2,398,556$0$0$1,650,350
87$2,498,650$0$0$1,719,644
88$2,604,400$0$0$1,792,885
89$2,716,240$0$0$1,870,379
90$2,834,643$0$0$1,952,458
91$2,960,125$0$0$2,039,485
92$3,093,251$0$0$2,131,857
93$3,234,639$0$0$2,230,008
94$3,384,963$0$0$2,334,412
95$3,544,962$0$0$2,445,589
96$3,715,446$0$0$2,564,108
97$3,897,299$0$0$2,690,591
98$4,091,492$0$0$2,825,722
99$4,299,088$0$0$2,970,247
100$4,521,252$0$0$3,124,988