Can I retire at age 58 with 824,000?

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 $824,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$68,045$67,439$66,848$66,271$65,707$63,451
2 years$33,686$33,058$32,450$31,861$31,289$29,040
3 years$22,234$21,604$20,998$20,414$19,851$17,678
4 years$16,509$15,881$15,281$14,707$14,158$12,079
5 years$13,075$12,451$11,859$11,296$10,763$8,782
6 years$10,787$10,167$9,583$9,034$8,516$6,636
7 years$9,153$8,538$7,964$7,427$6,926$5,146
8 years$7,928$7,319$6,754$6,230$5,746$4,064
9 years$6,976$6,373$5,817$5,307$4,839$3,254
10 years$6,214$5,617$5,072$4,575$4,123$2,632
11 years$5,592$5,001$4,465$3,981$3,546$2,146
12 years$5,073$4,488$3,963$3,492$3,073$1,761
13 years$4,635$4,056$3,540$3,083$2,679$1,452
14 years$4,260$3,687$3,181$2,737$2,349$1,202
15 years$3,935$3,368$2,872$2,441$2,068$998
16 years$3,651$3,090$2,604$2,185$1,828$831
17 years$3,400$2,846$2,369$1,964$1,621$694
18 years$3,178$2,630$2,163$1,770$1,441$580
19 years$2,979$2,437$1,980$1,599$1,284$486
20 years$2,801$2,265$1,817$1,448$1,147$407
21 years$2,639$2,110$1,671$1,314$1,027$342
22 years$2,493$1,969$1,541$1,195$920$287
23 years$2,359$1,842$1,422$1,088$826$242
24 years$2,237$1,726$1,315$993$742$203
25 years$2,124$1,619$1,218$906$668$171
26 years$2,021$1,522$1,130$829$602$144
27 years$1,925$1,432$1,049$759$543$121
28 years$1,837$1,350$975$695$490$102
29 years$1,754$1,273$908$637$442$86
30 years$1,677$1,202$846$585$399$73
31 years$1,606$1,137$788$537$361$61
32 years$1,539$1,076$735$494$327$52
33 years$1,476$1,019$687$454$296$44
34 years$1,417$965$642$418$268$37
35 years$1,361$916$600$385$242$31
36 years$1,309$869$561$354$220$26
37 years$1,259$825$525$326$199$22
38 years$1,213$784$492$301$180$19
39 years$1,168$746$461$277$164$16
40 years$1,127$710$432$256$148$13
41 years$1,087$676$405$236$135$11
42 years$1,049$643$380$218$122$9
43 years$1,013$613$357$201$111$8
44 years$979$584$335$186$101$7
45 years$946$557$314$171$91$6
46 years$915$532$295$158$83$5
47 years$886$507$277$146$75$4
48 years$857$484$261$135$68$3
49 years$830$462$245$125$62$3
50 years$805$442$230$116$56$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $824,000, adding $2,544 every year, while hoping to spend $24,642 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: 62/8/30 Blend
57$824,000$824,000$824,000$824,000
58$910,672$867,000$854,228$959,617
59$977,342$883,264$856,626$1,009,504
60$1,049,986$899,499$858,278$1,061,076
61$1,129,188$915,678$859,134$1,116,878
62$1,215,589$931,771$859,139$1,177,331
63$1,309,898$947,746$858,238$1,242,898
64$1,412,890$963,569$856,373$1,314,088
65$1,525,424$979,202$853,480$1,391,465
66$1,648,441$994,607$849,495$1,475,649
67$1,782,980$1,009,740$844,351$1,567,326
68$1,930,183$1,024,557$837,976$1,667,250
69$2,091,309$1,039,008$830,296$1,776,253
70$2,267,744$1,053,040$821,232$1,895,255
71$2,461,013$1,066,599$810,703$2,025,267
72$2,672,798$1,079,624$798,623$2,167,407
73$2,904,949$1,092,050$784,902$2,322,906
74$3,159,504$1,103,811$769,446$2,493,122
75$3,438,709$1,114,833$752,158$2,679,552
76$3,745,036$1,125,039$732,934$2,883,847
77$4,081,209$1,134,345$711,667$3,107,829
78$4,450,228$1,142,664$688,244$3,353,505
79$4,855,398$1,149,902$662,547$3,623,089
80$5,300,361$1,155,959$634,454$3,919,022
81$5,789,125$1,160,728$603,836$4,243,994
82$6,326,109$1,164,097$570,558$4,600,974
83$6,916,180$1,165,946$534,479$4,993,234
84$7,564,700$1,166,147$495,454$5,424,380
85$8,277,576$1,164,564$453,328$5,898,389
86$9,061,315$1,161,054$407,941$6,419,647
87$9,923,087$1,155,464$359,125$6,992,987
88$10,870,792$1,147,632$306,706$7,623,740
89$11,913,133$1,137,386$250,500$8,317,779
90$13,059,698$1,124,544$190,318$9,081,583
91$14,321,053$1,108,912$125,959$9,922,291
92$15,708,838$1,090,286$57,217$10,847,777
93$17,235,879$1,068,450$0$11,866,717
94$18,916,307$1,043,172$0$12,993,845
95$20,765,694$1,014,211$0$14,254,420
96$22,801,195$981,308$0$15,641,808
97$25,041,716$944,191$0$17,168,900
98$27,508,086$902,571$0$18,849,905
99$30,223,258$856,144$0$20,700,478
100$33,212,521$804,586$0$22,737,871