Can I retire at age 58 with 840,000?

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 $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%19.5%
1 years$69,366$68,749$68,146$67,557$66,983$64,427
2 years$34,340$33,700$33,080$32,479$31,897$29,352
3 years$22,666$22,023$21,405$20,810$20,236$17,783
4 years$16,830$16,190$15,578$14,992$14,433$12,089
5 years$13,329$12,693$12,089$11,516$10,972$8,743
6 years$10,996$10,365$9,770$9,209$8,681$6,570
7 years$9,331$8,704$8,119$7,571$7,060$5,066
8 years$8,082$7,461$6,885$6,351$5,857$3,978
9 years$7,111$6,496$5,930$5,410$4,933$3,165
10 years$6,335$5,726$5,170$4,663$4,203$2,544
11 years$5,700$5,098$4,552$4,059$3,615$2,061
12 years$5,172$4,575$4,039$3,560$3,132$1,679
13 years$4,725$4,135$3,609$3,143$2,731$1,375
14 years$4,342$3,758$3,243$2,790$2,394$1,131
15 years$4,011$3,433$2,928$2,488$2,108$933
16 years$3,722$3,150$2,654$2,228$1,863$771
17 years$3,466$2,901$2,415$2,002$1,652$639
18 years$3,240$2,681$2,205$1,804$1,469$530
19 years$3,037$2,484$2,019$1,630$1,309$441
20 years$2,855$2,309$1,853$1,476$1,169$367
21 years$2,690$2,150$1,704$1,340$1,047$305
22 years$2,541$2,007$1,570$1,218$938$255
23 years$2,405$1,877$1,450$1,109$842$212
24 years$2,280$1,759$1,341$1,012$757$177
25 years$2,166$1,651$1,242$924$681$148
26 years$2,060$1,551$1,152$845$613$124
27 years$1,963$1,460$1,070$773$553$103
28 years$1,872$1,376$994$709$499$86
29 years$1,788$1,298$925$650$451$72
30 years$1,710$1,226$862$596$407$60
31 years$1,637$1,159$804$548$368$50
32 years$1,568$1,096$750$503$333$42
33 years$1,504$1,038$700$463$301$35
34 years$1,444$984$654$426$273$29
35 years$1,387$933$612$392$247$25
36 years$1,334$886$572$361$224$21
37 years$1,284$841$535$333$203$17
38 years$1,236$800$501$307$184$14
39 years$1,191$760$470$283$167$12
40 years$1,148$723$440$261$151$10
41 years$1,108$689$413$241$137$8
42 years$1,069$656$387$222$125$7
43 years$1,033$625$363$205$113$6
44 years$998$596$341$189$103$5
45 years$965$568$320$175$93$4
46 years$933$542$301$161$85$3
47 years$903$517$283$149$77$3
48 years$874$494$266$138$70$2
49 years$847$471$250$127$63$2
50 years$820$450$235$118$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $840,000, adding $6,266 every year, while hoping to spend $44,598 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: 51/37/12 Blend
57$840,000$840,000$840,000$840,000
58$932,143$887,623$874,603$976,385
59$979,770$883,665$856,451$1,003,364
60$1,030,760$878,018$836,195$1,027,428
61$1,085,409$870,552$813,719$1,052,571
62$1,144,042$861,131$788,900$1,078,907
63$1,207,015$849,607$761,609$1,106,563
64$1,274,719$835,826$731,711$1,135,683
65$1,347,583$819,624$699,066$1,166,427
66$1,426,079$800,828$663,528$1,198,974
67$1,510,725$779,254$624,941$1,233,525
68$1,602,088$754,708$583,147$1,270,305
69$1,700,795$726,982$537,976$1,309,563
70$1,807,532$695,860$489,253$1,351,581
71$1,923,053$661,110$436,797$1,396,669
72$2,048,189$622,489$380,414$1,445,176
73$2,183,851$579,738$319,905$1,497,490
74$2,331,044$532,585$255,062$1,554,043
75$2,490,870$480,742$185,666$1,615,316
76$2,664,544$423,903$111,490$1,681,846
77$2,853,400$361,746$32,298$1,754,228
78$3,058,906$293,932$0$1,833,126
79$3,282,680$220,100$0$1,925,961
80$3,526,500$139,871$0$2,031,714
81$3,792,322$52,844$0$2,147,191
82$4,082,301$0$0$2,273,437
83$4,398,807$0$0$2,428,468
84$4,744,450$0$0$2,621,349
85$5,122,104$0$0$2,832,176
86$5,534,930$0$0$3,062,726
87$5,986,411$0$0$3,314,955
88$6,480,381$0$0$3,591,016
89$7,021,062$0$0$3,893,280
90$7,613,102$0$0$4,224,359
91$8,261,621$0$0$4,587,127
92$8,972,256$0$0$4,984,752
93$9,751,217$0$0$5,420,722
94$10,605,341$0$0$5,898,877
95$11,542,160$0$0$6,423,450
96$12,569,969$0$0$6,999,100
97$13,697,906$0$0$7,630,960
98$14,936,035$0$0$8,324,686
99$16,295,442$0$0$9,086,506
100$17,788,342$0$0$9,923,282