Can I retire at age 58 with 803,000?

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 $803,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$66,311$65,720$65,144$64,582$64,032$62,894
2 years$32,827$32,216$31,623$31,049$30,492$29,349
3 years$21,667$21,053$20,462$19,893$19,345$18,233
4 years$16,089$15,476$14,891$14,332$13,797$12,725
5 years$12,742$12,134$11,556$11,008$10,488$9,458
6 years$10,512$9,908$9,339$8,803$8,299$7,313
7 years$8,920$8,321$7,761$7,238$6,749$5,807
8 years$7,726$7,132$6,582$6,072$5,599$4,701
9 years$6,798$6,210$5,669$5,172$4,715$3,860
10 years$6,056$5,474$4,942$4,458$4,018$3,205
11 years$5,449$4,873$4,351$3,880$3,455$2,685
12 years$4,944$4,374$3,862$3,403$2,994$2,264
13 years$4,517$3,953$3,450$3,004$2,611$1,920
14 years$4,151$3,593$3,100$2,667$2,289$1,636
15 years$3,834$3,282$2,799$2,379$2,015$1,400
16 years$3,558$3,011$2,538$2,130$1,781$1,201
17 years$3,314$2,773$2,309$1,914$1,579$1,034
18 years$3,097$2,563$2,108$1,724$1,404$892
19 years$2,903$2,375$1,930$1,558$1,252$770
20 years$2,729$2,207$1,771$1,411$1,118$667
21 years$2,572$2,056$1,629$1,281$1,000$578
22 years$2,429$1,919$1,501$1,165$897$502
23 years$2,299$1,795$1,386$1,061$805$436
24 years$2,180$1,682$1,282$967$724$379
25 years$2,070$1,578$1,187$883$651$330
26 years$1,969$1,483$1,101$808$586$287
27 years$1,876$1,396$1,023$739$529$250
28 years$1,790$1,315$951$677$477$218
29 years$1,709$1,241$885$621$431$190
30 years$1,635$1,172$824$570$389$166
31 years$1,565$1,108$768$524$352$145
32 years$1,499$1,048$717$481$318$127
33 years$1,438$993$669$442$288$111
34 years$1,381$941$625$407$261$97
35 years$1,326$892$585$375$236$84
36 years$1,275$847$547$345$214$74
37 years$1,227$804$512$318$194$64
38 years$1,182$764$479$293$176$56
39 years$1,139$727$449$270$160$49
40 years$1,098$692$421$249$145$43
41 years$1,059$658$395$230$131$38
42 years$1,022$627$370$212$119$33
43 years$987$597$347$196$108$29
44 years$954$569$326$181$98$25
45 years$922$543$306$167$89$22
46 years$892$518$288$154$81$19
47 years$863$494$270$143$73$17
48 years$836$472$254$132$67$15
49 years$809$451$239$122$61$13
50 years$784$430$224$113$55$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $803,000, adding $4,092 every year, while hoping to spend $52,356 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: 63/21/16 Blend
57$803,000$803,000$803,000$803,000
58$889,127$846,568$834,121$941,369
59$924,111$832,343$806,358$962,721
60$960,910$815,667$775,910$979,701
61$999,651$796,364$742,632$996,987
62$1,040,478$774,247$706,372$1,014,612
63$1,083,542$749,121$666,971$1,032,614
64$1,129,013$720,778$624,264$1,051,035
65$1,177,073$688,996$578,077$1,069,926
66$1,227,921$653,544$528,230$1,089,344
67$1,281,775$614,174$474,532$1,109,355
68$1,338,874$570,626$416,786$1,130,034
69$1,399,477$522,624$354,786$1,151,467
70$1,463,868$469,878$288,317$1,173,752
71$1,532,360$412,079$217,152$1,197,000
72$1,605,292$348,902$141,058$1,221,337
73$1,683,036$280,003$59,788$1,246,905
74$1,766,002$205,019$0$1,273,866
75$1,854,636$123,566$0$1,307,001
76$1,949,428$35,241$0$1,353,108
77$2,050,916$0$0$1,402,248
78$2,159,690$0$0$1,468,684
79$2,276,395$0$0$1,548,740
80$2,401,741$0$0$1,634,766
81$2,536,507$0$0$1,727,299
82$2,681,547$0$0$1,826,933
83$2,837,800$0$0$1,934,319
84$3,006,298$0$0$2,050,171
85$3,188,172$0$0$2,175,273
86$3,384,667$0$0$2,310,490
87$3,597,150$0$0$2,456,769
88$3,827,125$0$0$2,615,153
89$4,076,243$0$0$2,786,788
90$4,346,323$0$0$2,972,933
91$4,639,361$0$0$3,174,974
92$4,957,556$0$0$3,394,437
93$5,303,323$0$0$3,632,996
94$5,679,321$0$0$3,892,496
95$6,088,475$0$0$4,174,967
96$6,534,004$0$0$4,482,641
97$7,019,448$0$0$4,817,976
98$7,548,706$0$0$5,183,675
99$8,126,066$0$0$5,582,715
100$8,756,249$0$0$6,018,371