Can I retire at age 58 with 816,000?

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 $816,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$67,385$66,784$66,199$65,627$65,069$64,659
2 years$33,359$32,737$32,135$31,551$30,985$30,572
3 years$22,018$21,394$20,794$20,215$19,658$19,254
4 years$16,349$15,727$15,132$14,564$14,020$13,628
5 years$12,949$12,330$11,743$11,187$10,658$10,280
6 years$10,682$10,069$9,490$8,946$8,433$8,069
7 years$9,064$8,456$7,887$7,355$6,859$6,508
8 years$7,851$7,248$6,688$6,170$5,690$5,354
9 years$6,908$6,311$5,761$5,255$4,792$4,470
10 years$6,154$5,563$5,022$4,530$4,083$3,775
11 years$5,538$4,952$4,422$3,943$3,511$3,217
12 years$5,024$4,445$3,924$3,458$3,043$2,762
13 years$4,590$4,017$3,506$3,053$2,653$2,386
14 years$4,218$3,651$3,150$2,710$2,326$2,071
15 years$3,897$3,335$2,844$2,417$2,048$1,806
16 years$3,615$3,060$2,579$2,164$1,810$1,580
17 years$3,367$2,818$2,346$1,944$1,605$1,386
18 years$3,147$2,604$2,142$1,752$1,427$1,220
19 years$2,950$2,413$1,961$1,583$1,272$1,076
20 years$2,773$2,243$1,800$1,434$1,136$951
21 years$2,613$2,089$1,655$1,302$1,017$842
22 years$2,468$1,950$1,526$1,183$911$746
23 years$2,336$1,824$1,409$1,078$818$662
24 years$2,215$1,709$1,303$983$735$589
25 years$2,104$1,604$1,207$898$662$524
26 years$2,001$1,507$1,119$821$596$466
27 years$1,907$1,418$1,039$751$537$415
28 years$1,819$1,337$966$688$485$370
29 years$1,737$1,261$899$631$438$331
30 years$1,661$1,191$837$579$396$295
31 years$1,590$1,126$781$532$358$264
32 years$1,524$1,065$728$489$324$236
33 years$1,461$1,009$680$450$293$211
34 years$1,403$956$635$414$265$188
35 years$1,348$907$594$381$240$168
36 years$1,296$861$556$351$218$151
37 years$1,247$817$520$323$197$135
38 years$1,201$777$487$298$179$121
39 years$1,157$739$456$275$162$108
40 years$1,116$703$428$253$147$97
41 years$1,076$669$401$234$133$87
42 years$1,039$637$376$216$121$78
43 years$1,003$607$353$199$110$70
44 years$970$579$331$184$100$62
45 years$937$552$311$170$91$56
46 years$907$526$292$157$82$50
47 years$877$502$275$145$75$45
48 years$849$480$258$134$68$40
49 years$822$458$243$124$62$36
50 years$797$437$228$114$56$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $816,000, adding $6,427 every year, while hoping to spend $20,335 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: 51/33/16 Blend
57$816,000$816,000$816,000$816,000
58$905,861$862,613$849,965$947,786
59$976,623$883,245$856,803$997,907
60$1,053,921$904,206$863,188$1,049,712
61$1,138,400$925,492$869,084$1,105,586
62$1,230,771$947,095$874,452$1,165,919
63$1,331,815$969,008$879,253$1,231,143
64$1,442,395$991,224$883,442$1,301,731
65$1,563,458$1,013,733$886,976$1,378,206
66$1,696,048$1,036,523$889,807$1,461,142
67$1,841,316$1,059,584$891,887$1,551,174
68$2,000,527$1,082,901$893,162$1,649,001
69$2,175,078$1,106,459$893,579$1,755,392
70$2,366,503$1,130,243$893,081$1,871,196
71$2,576,494$1,154,233$891,608$1,997,347
72$2,806,916$1,178,410$889,097$2,134,876
73$3,059,821$1,202,752$885,481$2,284,917
74$3,337,470$1,227,234$880,692$2,448,722
75$3,642,355$1,251,831$874,657$2,627,670
76$3,977,218$1,276,514$867,301$2,823,280
77$4,345,082$1,301,251$858,544$3,037,227
78$4,749,277$1,326,009$848,302$3,271,357
79$5,193,472$1,350,752$836,488$3,527,706
80$5,681,707$1,375,440$823,012$3,808,515
81$6,218,435$1,400,030$807,777$4,116,256
82$6,808,561$1,424,477$790,683$4,453,654
83$7,457,489$1,448,731$771,625$4,823,711
84$8,171,173$1,472,739$750,495$5,229,738
85$8,956,172$1,496,443$727,176$5,675,382
86$9,819,716$1,519,783$701,550$6,164,665
87$10,769,766$1,542,691$673,491$6,702,018
88$11,815,096$1,565,098$642,868$7,292,327
89$12,965,376$1,586,927$609,544$7,940,976
90$14,231,256$1,608,098$573,375$8,653,901
91$15,624,473$1,628,524$534,212$9,437,643
92$17,157,959$1,648,112$491,898$10,299,412
93$18,845,964$1,666,763$446,270$11,247,155
94$20,704,190$1,684,371$397,157$12,289,633
95$22,749,936$1,700,825$344,381$13,436,501
96$25,002,268$1,716,003$287,756$14,698,400
97$27,482,190$1,729,777$227,086$16,087,059
98$30,212,849$1,742,012$162,170$17,615,408
99$33,219,751$1,752,562$92,794$19,297,695
100$36,531,000$1,761,273$18,737$21,149,626