Can I retire at age 58 with 823,000?

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 $823,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$67,963$67,357$66,767$66,190$65,627$64,942
2 years$33,645$33,018$32,411$31,822$31,251$30,561
3 years$22,207$21,578$20,972$20,389$19,827$19,153
4 years$16,489$15,862$15,262$14,689$14,141$13,489
5 years$13,060$12,436$11,844$11,283$10,750$10,121
6 years$10,774$10,155$9,572$9,023$8,506$7,902
7 years$9,142$8,528$7,954$7,418$6,917$6,339
8 years$7,918$7,310$6,746$6,223$5,739$5,184
9 years$6,967$6,365$5,810$5,300$4,833$4,303
10 years$6,207$5,610$5,065$4,569$4,118$3,612
11 years$5,585$4,994$4,460$3,976$3,541$3,060
12 years$5,067$4,483$3,958$3,488$3,069$2,610
13 years$4,629$4,051$3,536$3,079$2,676$2,240
14 years$4,255$3,682$3,177$2,733$2,346$1,932
15 years$3,930$3,364$2,868$2,438$2,066$1,673
16 years$3,646$3,086$2,601$2,183$1,826$1,454
17 years$3,396$2,842$2,367$1,961$1,619$1,267
18 years$3,174$2,626$2,160$1,767$1,439$1,107
19 years$2,976$2,434$1,978$1,597$1,283$969
20 years$2,797$2,262$1,815$1,446$1,146$850
21 years$2,636$2,107$1,669$1,313$1,025$747
22 years$2,490$1,967$1,539$1,194$919$658
23 years$2,356$1,839$1,421$1,087$825$579
24 years$2,234$1,723$1,314$991$742$511
25 years$2,122$1,617$1,217$905$667$451
26 years$2,018$1,520$1,129$828$601$398
27 years$1,923$1,431$1,048$758$542$352
28 years$1,834$1,348$974$694$489$312
29 years$1,752$1,272$907$637$442$276
30 years$1,675$1,201$845$584$399$244
31 years$1,604$1,135$787$537$361$216
32 years$1,537$1,074$735$493$326$192
33 years$1,474$1,017$686$454$295$170
34 years$1,415$964$641$417$267$151
35 years$1,359$915$599$384$242$134
36 years$1,307$868$560$354$219$119
37 years$1,258$824$525$326$199$105
38 years$1,211$783$491$300$180$93
39 years$1,167$745$460$277$163$83
40 years$1,125$709$431$256$148$74
41 years$1,085$675$405$236$135$65
42 years$1,048$643$379$218$122$58
43 years$1,012$612$356$201$111$52
44 years$978$584$334$185$101$46
45 years$945$557$314$171$91$41
46 years$914$531$295$158$83$36
47 years$885$507$277$146$75$32
48 years$856$484$260$135$68$29
49 years$829$462$245$125$62$25
50 years$804$441$230$115$56$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $823,000, adding $4,552 every year, while hoping to spend $56,141 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: 61/9/30 Blend
57$823,000$823,000$823,000$823,000
58$911,641$868,022$855,266$959,589
59$944,895$850,822$824,184$975,622
60$979,659$830,897$790,179$986,711
61$1,016,029$808,055$753,094$997,653
62$1,054,105$782,091$712,764$1,008,447
63$1,094,001$752,791$669,019$1,019,095
64$1,135,836$719,924$621,677$1,029,599
65$1,179,740$683,250$570,553$1,039,968
66$1,225,857$642,512$515,450$1,050,211
67$1,274,340$597,441$456,162$1,060,344
68$1,325,356$547,749$392,477$1,070,386
69$1,379,088$493,135$324,172$1,080,363
70$1,435,736$433,279$251,012$1,090,305
71$1,495,515$367,843$172,755$1,100,251
72$1,558,661$296,472$89,146$1,110,248
73$1,625,433$218,787$0$1,120,350
74$1,696,110$134,390$0$1,130,650
75$1,771,000$42,863$0$1,171,652
76$1,850,439$0$0$1,214,974
77$1,934,792$0$0$1,266,389
78$2,024,461$0$0$1,325,588
79$2,119,885$0$0$1,388,622
80$2,221,543$0$0$1,455,811
81$2,329,960$0$0$1,527,509
82$2,445,714$0$0$1,604,101
83$2,569,435$0$0$1,686,010
84$2,701,815$0$0$1,773,700
85$2,843,612$0$0$1,867,679
86$2,995,657$0$0$1,968,506
87$3,158,864$0$0$2,076,792
88$3,334,235$0$0$2,193,210
89$3,522,867$0$0$2,318,497
90$3,725,970$0$0$2,453,462
91$3,944,867$0$0$2,598,996
92$4,181,016$0$0$2,756,076
93$4,436,016$0$0$2,925,776
94$4,711,624$0$0$3,109,275
95$5,009,774$0$0$3,307,871
96$5,332,588$0$0$3,522,990
97$5,682,401$0$0$3,756,198
98$6,061,781$0$0$4,009,221
99$6,473,550$0$0$4,283,953
100$6,920,815$0$0$4,582,480