Can I retire at age 58 with 840,000?

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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$69,366$68,749$68,146$67,557$66,983$66,533
2 years$34,340$33,700$33,080$32,479$31,897$31,443
3 years$22,666$22,023$21,405$20,810$20,236$19,793
4 years$16,830$16,190$15,578$14,992$14,433$14,003
5 years$13,329$12,693$12,089$11,516$10,972$10,556
6 years$10,996$10,365$9,770$9,209$8,681$8,282
7 years$9,331$8,704$8,119$7,571$7,060$6,676
8 years$8,082$7,461$6,885$6,351$5,857$5,489
9 years$7,111$6,496$5,930$5,410$4,933$4,580
10 years$6,335$5,726$5,170$4,663$4,203$3,865
11 years$5,700$5,098$4,552$4,059$3,615$3,292
12 years$5,172$4,575$4,039$3,560$3,132$2,825
13 years$4,725$4,135$3,609$3,143$2,731$2,438
14 years$4,342$3,758$3,243$2,790$2,394$2,115
15 years$4,011$3,433$2,928$2,488$2,108$1,843
16 years$3,722$3,150$2,654$2,228$1,863$1,611
17 years$3,466$2,901$2,415$2,002$1,652$1,413
18 years$3,240$2,681$2,205$1,804$1,469$1,243
19 years$3,037$2,484$2,019$1,630$1,309$1,095
20 years$2,855$2,309$1,853$1,476$1,169$967
21 years$2,690$2,150$1,704$1,340$1,047$855
22 years$2,541$2,007$1,570$1,218$938$758
23 years$2,405$1,877$1,450$1,109$842$672
24 years$2,280$1,759$1,341$1,012$757$597
25 years$2,166$1,651$1,242$924$681$531
26 years$2,060$1,551$1,152$845$613$472
27 years$1,963$1,460$1,070$773$553$420
28 years$1,872$1,376$994$709$499$375
29 years$1,788$1,298$925$650$451$334
30 years$1,710$1,226$862$596$407$298
31 years$1,637$1,159$804$548$368$266
32 years$1,568$1,096$750$503$333$237
33 years$1,504$1,038$700$463$301$212
34 years$1,444$984$654$426$273$189
35 years$1,387$933$612$392$247$169
36 years$1,334$886$572$361$224$151
37 years$1,284$841$535$333$203$135
38 years$1,236$800$501$307$184$121
39 years$1,191$760$470$283$167$108
40 years$1,148$723$440$261$151$97
41 years$1,108$689$413$241$137$87
42 years$1,069$656$387$222$125$78
43 years$1,033$625$363$205$113$69
44 years$998$596$341$189$103$62
45 years$965$568$320$175$93$56
46 years$933$542$301$161$85$50
47 years$903$517$283$149$77$45
48 years$874$494$266$138$70$40
49 years$847$471$250$127$63$36
50 years$820$450$235$118$58$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $840,000, adding $6,808 every year, while hoping to spend $42,516 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: 55/17/28 Blend
57$840,000$840,000$840,000$840,000
58$932,702$888,182$875,162$976,437
59$982,601$886,467$859,244$1,005,625
60$1,036,165$883,242$841,367$1,032,447
61$1,093,722$878,389$821,421$1,060,804
62$1,155,635$871,783$799,291$1,090,858
63$1,222,298$863,289$774,856$1,122,793
64$1,294,147$852,765$747,989$1,156,808
65$1,371,662$840,062$718,558$1,193,130
66$1,455,366$825,020$686,424$1,232,009
67$1,545,838$807,470$651,444$1,273,723
68$1,643,712$787,234$613,466$1,318,580
69$1,749,685$764,123$572,331$1,366,924
70$1,864,524$737,937$527,876$1,419,137
71$1,989,073$708,463$479,926$1,475,643
72$2,124,258$675,477$428,304$1,536,910
73$2,271,099$638,743$372,819$1,603,461
74$2,430,718$598,008$313,276$1,675,874
75$2,604,350$553,009$249,469$1,754,790
76$2,793,352$503,464$181,184$1,840,921
77$2,999,217$449,078$108,197$1,935,055
78$3,223,590$389,536$30,275$2,038,064
79$3,468,281$324,508$0$2,150,916
80$3,735,281$253,644$0$2,290,482
81$4,026,781$176,574$0$2,452,828
82$4,345,196$92,909$0$2,630,291
83$4,693,180$2,236$0$2,824,408
84$5,073,660$0$0$3,036,873
85$5,489,854$0$0$3,287,491
86$5,945,309$0$0$3,562,285
87$6,443,928$0$0$3,863,201
88$6,990,010$0$0$4,192,844
89$7,588,290$0$0$4,554,082
90$8,243,981$0$0$4,950,073
91$8,962,826$0$0$5,384,297
92$9,751,149$0$0$5,860,585
93$10,615,915$0$0$6,383,158
94$11,564,797$0$0$6,956,664
95$12,606,246$0$0$7,586,225
96$13,749,571$0$0$8,277,479
97$15,005,026$0$0$9,036,642
98$16,383,906$0$0$9,870,558
99$17,898,656$0$0$10,786,766
100$19,562,984$0$0$11,793,575