Can I retire at age 58 with 842,000?

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 $842,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$69,532$68,912$68,308$67,718$67,142$66,719
2 years$34,422$33,781$33,159$32,557$31,973$31,546
3 years$22,720$22,076$21,456$20,859$20,285$19,867
4 years$16,870$16,228$15,615$15,028$14,467$14,063
5 years$13,361$12,723$12,118$11,543$10,998$10,607
6 years$11,023$10,389$9,793$9,231$8,702$8,326
7 years$9,353$8,725$8,138$7,589$7,077$6,716
8 years$8,101$7,479$6,902$6,367$5,871$5,524
9 years$7,128$6,512$5,944$5,423$4,944$4,612
10 years$6,350$5,740$5,182$4,675$4,213$3,895
11 years$5,714$5,110$4,562$4,068$3,623$3,319
12 years$5,184$4,586$4,049$3,568$3,140$2,850
13 years$4,736$4,145$3,618$3,150$2,738$2,462
14 years$4,353$3,767$3,250$2,797$2,400$2,137
15 years$4,021$3,442$2,935$2,494$2,113$1,863
16 years$3,730$3,158$2,661$2,233$1,868$1,630
17 years$3,474$2,908$2,421$2,006$1,656$1,431
18 years$3,247$2,687$2,210$1,808$1,472$1,259
19 years$3,044$2,490$2,023$1,634$1,312$1,110
20 years$2,862$2,314$1,857$1,480$1,172$981
21 years$2,697$2,156$1,708$1,343$1,049$868
22 years$2,547$2,012$1,574$1,221$940$770
23 years$2,411$1,882$1,453$1,112$844$683
24 years$2,286$1,763$1,344$1,014$759$607
25 years$2,171$1,655$1,245$926$683$540
26 years$2,065$1,555$1,155$847$615$481
27 years$1,967$1,464$1,072$775$554$429
28 years$1,877$1,379$997$710$500$382
29 years$1,792$1,301$928$651$452$341
30 years$1,714$1,229$864$598$408$305
31 years$1,641$1,162$806$549$369$272
32 years$1,572$1,099$752$505$334$243
33 years$1,508$1,041$702$464$302$217
34 years$1,448$986$656$427$274$194
35 years$1,391$936$613$393$248$174
36 years$1,337$888$573$362$224$156
37 years$1,287$843$537$333$203$139
38 years$1,239$802$503$307$184$125
39 years$1,194$762$471$283$167$112
40 years$1,151$725$441$261$152$100
41 years$1,111$690$414$241$138$89
42 years$1,072$657$388$223$125$80
43 years$1,035$626$364$205$113$72
44 years$1,000$597$342$190$103$64
45 years$967$569$321$175$93$58
46 years$935$543$302$162$85$52
47 years$905$518$283$150$77$46
48 years$876$495$266$138$70$42
49 years$849$473$250$128$64$37
50 years$822$451$235$118$58$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $842,000, adding $2,998 every year, while hoping to spend $46,872 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: 51/34/15 Blend
57$842,000$842,000$842,000$842,000
58$930,976$886,350$873,299$974,508
59$976,065$879,910$852,684$998,260
60$1,024,181$871,583$829,806$1,018,901
61$1,075,584$861,228$804,542$1,040,301
62$1,130,560$848,694$776,760$1,062,544
63$1,189,418$833,822$746,323$1,085,728
64$1,252,502$816,442$713,087$1,109,962
65$1,320,186$796,376$676,905$1,135,371
66$1,392,881$773,435$637,617$1,162,094
67$1,471,040$747,418$595,062$1,190,288
68$1,555,157$718,113$549,068$1,220,130
69$1,645,778$685,295$499,456$1,251,818
70$1,743,499$648,726$446,040$1,285,574
71$1,848,979$608,157$388,625$1,321,648
72$1,962,938$563,320$327,007$1,360,319
73$2,086,170$513,935$260,974$1,401,901
74$2,219,547$459,705$190,304$1,446,743
75$2,364,026$400,316$114,765$1,495,236
76$2,520,662$335,437$34,115$1,547,816
77$2,690,613$264,717$0$1,604,971
78$2,875,154$187,787$0$1,675,559
79$3,075,687$104,255$0$1,758,240
80$3,293,752$13,708$0$1,848,265
81$3,531,047$0$0$1,946,433
82$3,789,438$0$0$2,085,164
83$4,070,979$0$0$2,241,992
84$4,377,930$0$0$2,413,056
85$4,712,780$0$0$2,599,754
86$5,078,265$0$0$2,803,623
87$5,477,400$0$0$3,026,356
88$5,913,504$0$0$3,269,815
89$6,390,228$0$0$3,536,052
90$6,911,595$0$0$3,827,326
91$7,482,033$0$0$4,146,124
92$8,106,418$0$0$4,495,185
93$8,790,117$0$0$4,877,523
94$9,539,045$0$0$5,296,460
95$10,359,712$0$0$5,755,654
96$11,259,289$0$0$6,259,133
97$12,245,674$0$0$6,811,334
98$13,327,565$0$0$7,417,142
99$14,514,544$0$0$8,081,942
100$15,817,162$0$0$8,811,660