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%13%
1 years$66,311$65,720$65,144$64,582$64,032$63,232
2 years$32,827$32,216$31,623$31,049$30,492$29,686
3 years$21,667$21,053$20,462$19,893$19,345$18,560
4 years$16,089$15,476$14,891$14,332$13,797$13,038
5 years$12,742$12,134$11,556$11,008$10,488$9,758
6 years$10,512$9,908$9,339$8,803$8,299$7,598
7 years$8,920$8,321$7,761$7,238$6,749$6,077
8 years$7,726$7,132$6,582$6,072$5,599$4,957
9 years$6,798$6,210$5,669$5,172$4,715$4,102
10 years$6,056$5,474$4,942$4,458$4,018$3,433
11 years$5,449$4,873$4,351$3,880$3,455$2,899
12 years$4,944$4,374$3,862$3,403$2,994$2,465
13 years$4,517$3,953$3,450$3,004$2,611$2,109
14 years$4,151$3,593$3,100$2,667$2,289$1,813
15 years$3,834$3,282$2,799$2,379$2,015$1,564
16 years$3,558$3,011$2,538$2,130$1,781$1,355
17 years$3,314$2,773$2,309$1,914$1,579$1,177
18 years$3,097$2,563$2,108$1,724$1,404$1,024
19 years$2,903$2,375$1,930$1,558$1,252$894
20 years$2,729$2,207$1,771$1,411$1,118$781
21 years$2,572$2,056$1,629$1,281$1,000$684
22 years$2,429$1,919$1,501$1,165$897$599
23 years$2,299$1,795$1,386$1,061$805$526
24 years$2,180$1,682$1,282$967$724$462
25 years$2,070$1,578$1,187$883$651$406
26 years$1,969$1,483$1,101$808$586$358
27 years$1,876$1,396$1,023$739$529$315
28 years$1,790$1,315$951$677$477$277
29 years$1,709$1,241$885$621$431$245
30 years$1,635$1,172$824$570$389$216
31 years$1,565$1,108$768$524$352$190
32 years$1,499$1,048$717$481$318$168
33 years$1,438$993$669$442$288$148
34 years$1,381$941$625$407$261$131
35 years$1,326$892$585$375$236$116
36 years$1,275$847$547$345$214$102
37 years$1,227$804$512$318$194$90
38 years$1,182$764$479$293$176$80
39 years$1,139$727$449$270$160$71
40 years$1,098$692$421$249$145$62
41 years$1,059$658$395$230$131$55
42 years$1,022$627$370$212$119$49
43 years$987$597$347$196$108$43
44 years$954$569$326$181$98$38
45 years$922$543$306$167$89$34
46 years$892$518$288$154$81$30
47 years$863$494$270$143$73$26
48 years$836$472$254$132$67$23
49 years$809$451$239$122$61$21
50 years$784$430$224$113$55$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $803,000, adding $6,055 every year, while hoping to spend $30,394 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: 72/6/22 Blend
57$803,000$803,000$803,000$803,000
58$891,152$848,593$836,146$950,077
59$949,710$857,835$831,818$999,369
60$1,013,223$866,511$826,326$1,049,145
61$1,082,163$874,562$819,600$1,102,911
62$1,157,052$881,923$811,564$1,161,057
63$1,238,461$888,527$802,141$1,224,017
64$1,327,020$894,301$791,250$1,292,267
65$1,423,423$899,169$778,803$1,366,333
66$1,528,432$903,048$764,713$1,446,795
67$1,642,887$905,852$748,885$1,534,291
68$1,767,710$907,487$731,222$1,629,527
69$1,903,918$907,856$711,620$1,733,279
70$2,052,631$906,854$689,972$1,846,405
71$2,215,079$904,370$666,166$1,969,849
72$2,392,619$900,286$640,085$2,104,653
73$2,586,744$894,477$611,605$2,251,966
74$2,799,097$886,812$580,599$2,413,055
75$3,031,488$877,149$546,932$2,589,316
76$3,285,909$865,339$510,464$2,782,289
77$3,564,556$851,224$471,048$2,993,673
78$3,869,844$834,638$428,532$3,225,339
79$4,204,435$815,402$382,755$3,479,352
80$4,571,261$793,330$333,550$3,757,988
81$4,973,549$768,222$280,743$4,063,756
82$5,414,855$739,869$224,152$4,399,422
83$5,899,095$708,048$163,586$4,768,038
84$6,430,583$672,523$98,847$5,172,966
85$7,014,071$633,045$29,727$5,617,914
86$7,654,794$589,351$0$6,106,968
87$8,358,516$541,163$0$6,654,974
88$9,131,591$488,186$0$7,264,679
89$9,981,015$430,109$0$7,934,631
90$10,914,498$366,604$0$8,670,926
91$11,940,531$297,322$0$9,480,278
92$13,068,472$221,897$0$10,370,090
93$14,308,628$139,942$0$11,348,514
94$15,672,355$51,047$0$12,424,535
95$17,172,167$0$0$13,608,053
96$18,821,848$0$0$14,912,963
97$20,636,588$0$0$16,352,187
98$22,633,121$0$0$17,935,632
99$24,829,885$0$0$19,677,928
100$27,247,197$0$0$21,595,193