Can I retire at age 58 with 802,000?

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 $802,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$66,228$65,638$65,063$64,501$63,953$62,945
2 years$32,786$32,176$31,584$31,010$30,454$29,441
3 years$21,640$21,027$20,437$19,869$19,321$18,335
4 years$16,069$15,457$14,873$14,314$13,780$12,828
5 years$12,726$12,119$11,542$10,995$10,475$9,560
6 years$10,499$9,896$9,328$8,792$8,289$7,412
7 years$8,909$8,310$7,751$7,229$6,741$5,902
8 years$7,716$7,124$6,574$6,064$5,592$4,792
9 years$6,789$6,202$5,662$5,165$4,710$3,947
10 years$6,048$5,467$4,936$4,452$4,013$3,287
11 years$5,443$4,867$4,346$3,875$3,451$2,762
12 years$4,938$4,368$3,857$3,399$2,991$2,337
13 years$4,511$3,948$3,446$3,001$2,608$1,988
14 years$4,146$3,588$3,096$2,664$2,286$1,700
15 years$3,830$3,278$2,795$2,376$2,013$1,459
16 years$3,553$3,008$2,534$2,127$1,779$1,257
17 years$3,309$2,770$2,306$1,911$1,577$1,085
18 years$3,093$2,559$2,105$1,722$1,402$939
19 years$2,900$2,372$1,927$1,556$1,250$815
20 years$2,726$2,204$1,769$1,409$1,117$708
21 years$2,569$2,053$1,627$1,279$999$616
22 years$2,426$1,917$1,499$1,163$896$537
23 years$2,296$1,793$1,384$1,059$804$468
24 years$2,177$1,679$1,280$966$723$409
25 years$2,068$1,576$1,186$882$650$357
26 years$1,967$1,481$1,100$807$586$312
27 years$1,874$1,394$1,021$738$528$273
28 years$1,787$1,314$949$677$477$239
29 years$1,707$1,239$884$620$430$209
30 years$1,633$1,170$823$569$389$184
31 years$1,563$1,106$767$523$351$161
32 years$1,497$1,047$716$481$318$141
33 years$1,436$991$668$442$288$124
34 years$1,379$940$625$407$261$108
35 years$1,325$891$584$374$236$95
36 years$1,274$846$546$345$214$84
37 years$1,226$803$511$318$194$73
38 years$1,180$764$479$293$176$64
39 years$1,137$726$449$270$159$57
40 years$1,096$691$420$249$144$50
41 years$1,058$658$394$230$131$44
42 years$1,021$626$370$212$119$38
43 years$986$597$347$196$108$34
44 years$953$569$326$181$98$30
45 years$921$542$306$167$89$26
46 years$891$517$287$154$81$23
47 years$862$494$270$142$73$20
48 years$835$471$254$132$67$18
49 years$808$450$238$122$60$15
50 years$783$430$224$112$55$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $802,000, adding $5,864 every year, while hoping to spend $46,835 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: 59/30/11 Blend
57$802,000$802,000$802,000$802,000
58$889,853$847,347$834,916$939,667
59$930,786$839,035$813,053$965,569
60$974,324$828,746$788,889$988,015
61$1,020,684$816,333$762,296$1,011,356
62$1,070,103$801,642$733,141$1,035,680
63$1,122,839$784,509$701,288$1,061,091
64$1,179,178$764,759$666,590$1,087,701
65$1,239,430$742,208$628,897$1,115,638
66$1,303,937$716,662$588,050$1,145,044
67$1,373,074$687,913$543,885$1,176,081
68$1,447,251$655,744$496,228$1,208,926
69$1,526,919$619,924$444,900$1,243,779
70$1,612,572$580,208$389,712$1,280,865
71$1,704,754$536,338$330,467$1,320,432
72$1,804,061$488,041$266,960$1,362,760
73$1,911,149$435,028$198,976$1,408,158
74$2,026,736$376,994$126,292$1,456,975
75$2,151,613$313,617$48,673$1,509,595
76$2,286,650$244,556$0$1,566,450
77$2,432,801$169,452$0$1,632,027
78$2,591,116$87,925$0$1,709,207
79$2,762,749$0$0$1,792,896
80$2,948,971$0$0$1,883,926
81$3,151,176$0$0$2,014,343
82$3,370,900$0$0$2,156,117
83$3,609,834$0$0$2,310,346
84$3,869,833$0$0$2,478,237
85$4,152,945$0$0$2,661,118
86$4,461,418$0$0$2,860,451
87$4,797,729$0$0$3,077,845
88$5,164,603$0$0$3,315,070
89$5,565,039$0$0$3,574,076
90$6,002,340$0$0$3,857,008
91$6,480,140$0$0$4,166,228
92$7,002,440$0$0$4,504,336
93$7,573,648$0$0$4,874,195
94$8,198,612$0$0$5,278,958
95$8,882,675$0$0$5,722,097
96$9,631,718$0$0$6,207,433
97$10,452,219$0$0$6,739,176
98$11,351,310$0$0$7,321,962
99$12,336,846$0$0$7,960,898
100$13,417,480$0$0$8,661,605