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%19.8%
1 years$65,898$65,311$64,738$64,179$63,634$61,133
2 years$32,623$32,015$31,426$30,856$30,302$27,813
3 years$21,533$20,922$20,335$19,769$19,225$16,826
4 years$15,988$15,380$14,799$14,243$13,711$11,421
5 years$12,663$12,058$11,484$10,940$10,423$8,247
6 years$10,447$9,846$9,281$8,749$8,247$6,188
7 years$8,864$8,269$7,713$7,193$6,707$4,763
8 years$7,678$7,088$6,541$6,034$5,564$3,733
9 years$6,756$6,171$5,634$5,139$4,686$2,965
10 years$6,018$5,440$4,912$4,430$3,993$2,378
11 years$5,415$4,843$4,324$3,856$3,434$1,923
12 years$4,913$4,347$3,838$3,382$2,976$1,564
13 years$4,489$3,928$3,429$2,986$2,595$1,278
14 years$4,125$3,570$3,081$2,650$2,275$1,049
15 years$3,811$3,262$2,781$2,364$2,003$863
16 years$3,535$2,993$2,522$2,116$1,770$712
17 years$3,293$2,756$2,295$1,902$1,569$589
18 years$3,078$2,547$2,095$1,714$1,395$487
19 years$2,885$2,360$1,918$1,548$1,244$404
20 years$2,712$2,193$1,760$1,402$1,111$335
21 years$2,556$2,043$1,619$1,273$994$279
22 years$2,414$1,907$1,492$1,157$891$232
23 years$2,285$1,784$1,378$1,054$800$193
24 years$2,166$1,671$1,274$961$719$161
25 years$2,057$1,568$1,180$878$647$134
26 years$1,957$1,474$1,094$803$583$111
27 years$1,864$1,387$1,016$735$525$93
28 years$1,779$1,307$945$673$474$77
29 years$1,699$1,233$879$617$428$65
30 years$1,624$1,165$819$567$387$54
31 years$1,555$1,101$763$520$350$45
32 years$1,490$1,042$712$478$316$37
33 years$1,429$986$665$440$286$31
34 years$1,372$935$621$405$259$26
35 years$1,318$887$581$372$235$22
36 years$1,267$842$543$343$213$18
37 years$1,220$799$509$316$193$15
38 years$1,174$760$476$291$175$13
39 years$1,132$722$446$269$159$11
40 years$1,091$687$418$248$144$9
41 years$1,053$654$392$229$130$7
42 years$1,016$623$368$211$118$6
43 years$981$594$345$195$107$5
44 years$948$566$324$180$98$4
45 years$917$540$304$166$89$4
46 years$887$515$286$153$80$3
47 years$858$491$269$142$73$2
48 years$830$469$252$131$66$2
49 years$804$448$237$121$60$2
50 years$779$428$223$112$55$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $798,000, adding $5,076 every year, while hoping to spend $20,989 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: 23/47/30 Blend
57$798,000$798,000$798,000$798,000
58$884,632$842,338$829,969$896,552
59$952,532$861,280$835,441$926,357
60$1,026,655$880,447$840,392$956,169
61$1,107,612$899,828$844,784$987,647
62$1,196,079$919,410$848,575$1,020,941
63$1,292,798$939,179$851,720$1,056,221
64$1,398,585$959,121$854,175$1,093,672
65$1,514,341$979,218$855,890$1,133,499
66$1,641,057$999,453$856,816$1,175,927
67$1,779,824$1,019,805$856,898$1,221,208
68$1,931,843$1,040,253$856,082$1,269,618
69$2,098,439$1,060,773$854,308$1,321,463
70$2,281,068$1,081,340$851,515$1,377,081
71$2,481,335$1,101,924$847,640$1,436,844
72$2,701,010$1,122,496$842,614$1,501,164
73$2,942,038$1,143,024$836,367$1,570,499
74$3,206,565$1,163,472$828,825$1,645,350
75$3,496,954$1,183,801$819,910$1,726,274
76$3,815,807$1,203,971$809,540$1,813,886
77$4,165,992$1,223,938$797,632$1,908,863
78$4,550,666$1,243,653$784,095$2,011,955
79$4,973,308$1,263,067$768,837$2,123,990
80$5,437,752$1,282,124$751,759$2,245,883
81$5,948,220$1,300,765$732,761$2,378,642
82$6,509,364$1,318,928$711,734$2,523,384
83$7,126,309$1,336,545$688,566$2,681,339
84$7,804,701$1,353,545$663,142$2,853,867
85$8,550,762$1,369,850$635,339$3,042,468
86$9,371,346$1,385,379$605,029$3,248,801
87$10,274,004$1,400,043$572,078$3,474,694
88$11,267,056$1,413,749$536,347$3,722,167
89$12,359,671$1,426,398$497,690$3,993,450
90$13,561,949$1,437,883$455,954$4,291,002
91$14,885,020$1,448,091$410,980$4,617,540
92$16,341,146$1,456,901$362,602$4,976,061
93$17,943,838$1,464,186$310,645$5,369,873
94$19,707,987$1,469,807$254,929$5,802,625
95$21,649,996$1,473,622$195,263$6,278,345
96$23,787,941$1,475,475$131,449$6,801,479
97$26,141,740$1,475,203$63,282$7,376,928
98$28,733,341$1,472,631$0$8,010,105
99$31,586,927$1,467,575$0$8,710,006
100$34,729,147$1,459,840$0$9,502,003