Can I retire at age 58 with 841,000?

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 $841,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$69,449$68,830$68,227$67,638$67,063$65,177
2 years$34,381$33,740$33,120$32,518$31,935$30,049
3 years$22,693$22,050$21,431$20,835$20,261$18,435
4 years$16,850$16,209$15,596$15,010$14,450$12,697
5 years$13,345$12,708$12,103$11,529$10,985$9,310
6 years$11,009$10,377$9,781$9,220$8,692$7,097
7 years$9,342$8,715$8,128$7,580$7,069$5,554
8 years$8,091$7,470$6,893$6,359$5,864$4,428
9 years$7,120$6,504$5,937$5,416$4,939$3,580
10 years$6,343$5,733$5,176$4,669$4,208$2,925
11 years$5,707$5,104$4,557$4,063$3,619$2,410
12 years$5,178$4,581$4,044$3,564$3,136$1,998
13 years$4,731$4,140$3,613$3,147$2,735$1,666
14 years$4,348$3,763$3,247$2,793$2,397$1,394
15 years$4,016$3,437$2,931$2,491$2,111$1,171
16 years$3,726$3,154$2,658$2,230$1,865$987
17 years$3,470$2,905$2,418$2,004$1,654$833
18 years$3,243$2,684$2,208$1,806$1,471$705
19 years$3,041$2,487$2,021$1,632$1,311$598
20 years$2,858$2,311$1,855$1,478$1,171$507
21 years$2,694$2,153$1,706$1,341$1,048$431
22 years$2,544$2,010$1,572$1,220$939$367
23 years$2,408$1,880$1,452$1,111$843$312
24 years$2,283$1,761$1,343$1,013$758$266
25 years$2,168$1,653$1,244$925$682$227
26 years$2,063$1,553$1,153$846$614$193
27 years$1,965$1,462$1,071$774$554$165
28 years$1,874$1,378$996$709$500$141
29 years$1,790$1,300$926$651$451$120
30 years$1,712$1,227$863$597$408$103
31 years$1,639$1,160$805$548$369$88
32 years$1,570$1,098$751$504$333$75
33 years$1,506$1,040$701$463$302$64
34 years$1,446$985$655$426$273$55
35 years$1,389$935$612$393$247$47
36 years$1,336$887$573$362$224$40
37 years$1,285$842$536$333$203$34
38 years$1,238$801$502$307$184$29
39 years$1,193$761$470$283$167$25
40 years$1,150$724$441$261$152$21
41 years$1,109$689$413$241$137$18
42 years$1,071$657$388$222$125$16
43 years$1,034$626$364$205$113$13
44 years$999$596$342$189$103$11
45 years$966$569$321$175$93$10
46 years$934$543$301$162$85$8
47 years$904$518$283$149$77$7
48 years$875$494$266$138$70$6
49 years$848$472$250$128$63$5
50 years$821$451$235$118$58$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $841,000, adding $5,488 every year, while hoping to spend $36,670 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$841,000$841,000$841,000$841,000
58$932,443$887,870$874,834$982,398
59$988,535$892,359$865,125$1,021,538
60$1,049,120$895,839$853,861$1,059,827
61$1,114,617$898,222$840,952$1,100,872
62$1,185,487$899,413$826,303$1,144,952
63$1,262,237$899,315$809,814$1,192,375
64$1,345,424$897,820$791,381$1,243,478
65$1,435,661$894,817$770,896$1,298,639
66$1,533,622$890,186$748,244$1,358,272
67$1,640,047$883,801$723,307$1,422,836
68$1,755,753$875,529$695,959$1,492,839
69$1,881,636$865,226$666,070$1,568,842
70$2,018,683$852,742$633,503$1,651,462
71$2,167,981$837,918$598,117$1,741,386
72$2,330,723$820,585$559,763$1,839,370
73$2,508,226$800,563$518,284$1,946,248
74$2,701,937$777,662$473,519$2,062,944
75$2,913,450$751,683$425,296$2,190,478
76$3,144,518$722,411$373,440$2,329,974
77$3,397,073$689,623$317,764$2,482,677
78$3,673,240$653,081$258,075$2,649,958
79$3,975,361$612,532$194,171$2,833,334
80$4,306,013$567,712$125,841$3,034,478
81$4,668,035$518,338$52,865$3,255,238
82$5,064,551$464,113$0$3,497,652
83$5,499,003$404,722$0$3,771,980
84$5,975,183$339,835$0$4,091,277
85$6,497,264$269,099$0$4,441,426
86$7,069,844$192,145$0$4,825,537
87$7,697,989$108,580$0$5,247,037
88$8,387,275$17,992$0$5,709,700
89$9,143,848$0$0$6,217,689
90$9,974,474$0$0$6,782,636
91$10,886,610$0$0$7,404,825
92$11,888,468$0$0$8,088,285
93$12,989,096$0$0$8,839,194
94$14,198,460$0$0$9,664,362
95$15,527,539$0$0$10,571,290
96$16,988,432$0$0$11,568,241
97$18,594,463$0$0$12,664,319
98$20,360,316$0$0$13,869,556
99$22,302,166$0$0$15,195,000
100$24,437,836$0$0$16,652,829