Can I retire at age 58 with 798,000?

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 $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%13.1%
1 years$65,898$65,311$64,738$64,179$63,634$62,812
2 years$32,623$32,015$31,426$30,856$30,302$29,476
3 years$21,533$20,922$20,335$19,769$19,225$18,419
4 years$15,988$15,380$14,799$14,243$13,711$12,933
5 years$12,663$12,058$11,484$10,940$10,423$9,674
6 years$10,447$9,846$9,281$8,749$8,247$7,528
7 years$8,864$8,269$7,713$7,193$6,707$6,018
8 years$7,678$7,088$6,541$6,034$5,564$4,906
9 years$6,756$6,171$5,634$5,139$4,686$4,057
10 years$6,018$5,440$4,912$4,430$3,993$3,394
11 years$5,415$4,843$4,324$3,856$3,434$2,864
12 years$4,913$4,347$3,838$3,382$2,976$2,434
13 years$4,489$3,928$3,429$2,986$2,595$2,081
14 years$4,125$3,570$3,081$2,650$2,275$1,787
15 years$3,811$3,262$2,781$2,364$2,003$1,542
16 years$3,535$2,993$2,522$2,116$1,770$1,334
17 years$3,293$2,756$2,295$1,902$1,569$1,158
18 years$3,078$2,547$2,095$1,714$1,395$1,007
19 years$2,885$2,360$1,918$1,548$1,244$878
20 years$2,712$2,193$1,760$1,402$1,111$767
21 years$2,556$2,043$1,619$1,273$994$671
22 years$2,414$1,907$1,492$1,157$891$588
23 years$2,285$1,784$1,378$1,054$800$515
24 years$2,166$1,671$1,274$961$719$452
25 years$2,057$1,568$1,180$878$647$397
26 years$1,957$1,474$1,094$803$583$349
27 years$1,864$1,387$1,016$735$525$307
28 years$1,779$1,307$945$673$474$271
29 years$1,699$1,233$879$617$428$238
30 years$1,624$1,165$819$567$387$210
31 years$1,555$1,101$763$520$350$185
32 years$1,490$1,042$712$478$316$163
33 years$1,429$986$665$440$286$144
34 years$1,372$935$621$405$259$127
35 years$1,318$887$581$372$235$112
36 years$1,267$842$543$343$213$99
37 years$1,220$799$509$316$193$87
38 years$1,174$760$476$291$175$77
39 years$1,132$722$446$269$159$68
40 years$1,091$687$418$248$144$60
41 years$1,053$654$392$229$130$53
42 years$1,016$623$368$211$118$47
43 years$981$594$345$195$107$42
44 years$948$566$324$180$98$37
45 years$917$540$304$166$89$32
46 years$887$515$286$153$80$29
47 years$858$491$269$142$73$25
48 years$830$469$252$131$66$22
49 years$804$448$237$121$60$20
50 years$779$428$223$112$55$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $798,000, adding $6,975 every year, while hoping to spend $33,592 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: 77/16/7 Blend
57$798,000$798,000$798,000$798,000
58$886,591$844,297$831,928$953,562
59$941,281$849,926$824,056$1,004,154
60$1,000,425$854,704$814,794$1,054,571
61$1,064,439$858,556$804,061$1,108,863
62$1,133,785$861,399$791,770$1,167,400
63$1,208,969$863,145$777,832$1,230,591
64$1,290,547$863,702$762,153$1,298,885
65$1,379,131$862,972$744,633$1,372,779
66$1,475,394$860,850$725,170$1,452,819
67$1,580,078$857,225$703,657$1,539,606
68$1,693,996$851,979$679,980$1,633,805
69$1,818,046$844,988$654,021$1,736,147
70$1,953,214$836,120$625,658$1,847,438
71$2,100,585$825,233$594,761$1,968,566
72$2,261,354$812,179$561,195$2,100,511
73$2,436,837$796,801$524,820$2,244,352
74$2,628,482$778,931$485,488$2,401,280
75$2,837,881$758,392$443,046$2,572,605
76$3,066,789$734,998$397,333$2,759,773
77$3,317,139$708,551$348,181$2,964,380
78$3,591,057$678,839$295,415$3,188,180
79$3,890,885$645,643$238,852$3,433,113
80$4,219,202$608,726$178,300$3,701,312
81$4,578,848$567,841$113,560$3,995,132
82$4,972,950$522,725$44,424$4,317,167
83$5,404,954$473,100$0$4,670,278
84$5,878,651$418,675$0$5,059,812
85$6,398,221$359,137$0$5,490,735
86$6,968,266$294,161$0$5,963,577
87$7,593,854$223,400$0$6,482,579
88$8,280,569$146,488$0$7,052,419
89$9,034,561$63,040$0$7,678,251
90$9,862,606$0$0$8,365,756
91$10,772,166$0$0$9,126,010
92$11,771,465$0$0$9,973,494
93$12,869,559$0$0$10,904,796
94$14,076,427$0$0$11,928,383
95$15,403,062$0$0$13,053,580
96$16,861,574$0$0$14,290,666
97$18,465,309$0$0$15,650,962
98$20,228,965$0$0$17,146,941
99$22,168,741$0$0$18,792,346
100$24,302,481$0$0$20,602,321