Can I retire at age 58 with 802,000?

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 $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%13.6%
1 years$66,228$65,638$65,063$64,501$63,953$62,997
2 years$32,786$32,176$31,584$31,010$30,454$29,493
3 years$21,640$21,027$20,437$19,869$19,321$18,385
4 years$16,069$15,457$14,873$14,314$13,780$12,876
5 years$12,726$12,119$11,542$10,995$10,475$9,606
6 years$10,499$9,896$9,328$8,792$8,289$7,455
7 years$8,909$8,310$7,751$7,229$6,741$5,944
8 years$7,716$7,124$6,574$6,064$5,592$4,831
9 years$6,789$6,202$5,662$5,165$4,710$3,984
10 years$6,048$5,467$4,936$4,452$4,013$3,322
11 years$5,443$4,867$4,346$3,875$3,451$2,794
12 years$4,938$4,368$3,857$3,399$2,991$2,367
13 years$4,511$3,948$3,446$3,001$2,608$2,017
14 years$4,146$3,588$3,096$2,664$2,286$1,727
15 years$3,830$3,278$2,795$2,376$2,013$1,485
16 years$3,553$3,008$2,534$2,127$1,779$1,280
17 years$3,309$2,770$2,306$1,911$1,577$1,107
18 years$3,093$2,559$2,105$1,722$1,402$960
19 years$2,900$2,372$1,927$1,556$1,250$834
20 years$2,726$2,204$1,769$1,409$1,117$725
21 years$2,569$2,053$1,627$1,279$999$632
22 years$2,426$1,917$1,499$1,163$896$552
23 years$2,296$1,793$1,384$1,059$804$482
24 years$2,177$1,679$1,280$966$723$421
25 years$2,068$1,576$1,186$882$650$369
26 years$1,967$1,481$1,100$807$586$323
27 years$1,874$1,394$1,021$738$528$283
28 years$1,787$1,314$949$677$477$248
29 years$1,707$1,239$884$620$430$218
30 years$1,633$1,170$823$569$389$191
31 years$1,563$1,106$767$523$351$168
32 years$1,497$1,047$716$481$318$147
33 years$1,436$991$668$442$288$129
34 years$1,379$940$625$407$261$114
35 years$1,325$891$584$374$236$100
36 years$1,274$846$546$345$214$88
37 years$1,226$803$511$318$194$77
38 years$1,180$764$479$293$176$68
39 years$1,137$726$449$270$159$60
40 years$1,096$691$420$249$144$53
41 years$1,058$658$394$230$131$46
42 years$1,021$626$370$212$119$41
43 years$986$597$347$196$108$36
44 years$953$569$326$181$98$31
45 years$921$542$306$167$89$28
46 years$891$517$287$154$81$24
47 years$862$494$270$142$73$21
48 years$835$471$254$132$67$19
49 years$808$450$238$122$60$17
50 years$783$430$224$112$55$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $802,000, adding $6,571 every year, while hoping to spend $21,676 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: 39/35/26 Blend
57$802,000$802,000$802,000$802,000
58$890,582$848,076$835,645$918,227
59$958,358$866,569$840,576$957,429
60$1,032,321$885,241$844,946$997,294
61$1,113,079$904,079$848,712$1,039,980
62$1,201,301$923,067$851,832$1,085,756
63$1,297,725$942,188$854,259$1,134,922
64$1,403,161$961,423$855,945$1,187,806
65$1,518,503$980,753$856,840$1,244,771
66$1,644,735$1,000,155$856,889$1,306,217
67$1,782,941$1,019,604$856,037$1,372,586
68$1,934,312$1,039,076$854,225$1,444,365
69$2,100,162$1,058,542$851,392$1,522,093
70$2,281,939$1,077,970$847,474$1,606,363
71$2,481,235$1,097,329$842,403$1,697,828
72$2,699,805$1,116,583$836,107$1,797,212
73$2,939,582$1,135,692$828,514$1,905,310
74$3,202,695$1,154,617$819,545$2,023,002
75$3,491,489$1,173,311$809,118$2,151,258
76$3,808,546$1,191,729$797,149$2,291,147
77$4,156,712$1,209,818$783,548$2,443,849
78$4,539,122$1,227,524$768,222$2,610,667
79$4,959,228$1,244,788$751,073$2,793,037
80$5,420,833$1,261,547$731,998$2,992,542
81$5,928,129$1,277,734$710,891$3,210,930
82$6,485,732$1,293,277$687,640$3,450,130
83$7,098,728$1,308,099$662,127$3,712,267
84$7,772,720$1,322,117$634,230$3,999,686
85$8,513,882$1,335,245$603,821$4,314,975
86$9,329,015$1,347,390$570,766$4,660,986
87$10,225,614$1,358,451$534,925$5,040,867
88$11,211,934$1,368,322$496,153$5,458,087
89$12,297,073$1,376,892$454,296$5,916,474
90$13,491,054$1,384,039$409,194$6,420,249
91$14,804,921$1,389,637$360,682$6,974,067
92$16,250,842$1,393,548$308,584$7,583,061
93$17,842,226$1,395,630$252,720$8,252,891
94$19,593,846$1,395,729$192,899$8,989,801
95$21,521,980$1,393,681$128,922$9,800,673
96$23,644,564$1,389,314$60,584$10,693,096
97$25,981,364$1,382,444$0$11,675,440
98$28,554,156$1,372,877$0$12,760,358
99$31,386,938$1,360,406$0$13,972,758
100$34,506,152$1,344,812$0$15,307,098