Can I retire at age 58 with 843,000?

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 $843,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$69,614$68,994$68,389$67,799$67,222$66,742
2 years$34,462$33,821$33,199$32,595$32,010$31,527
3 years$22,747$22,102$21,482$20,884$20,309$19,836
4 years$16,890$16,247$15,633$15,046$14,484$14,026
5 years$13,377$12,738$12,132$11,557$11,011$10,569
6 years$11,036$10,402$9,804$9,242$8,712$8,287
7 years$9,364$8,735$8,148$7,598$7,086$6,677
8 years$8,111$7,488$6,910$6,374$5,878$5,486
9 years$7,137$6,519$5,951$5,429$4,950$4,575
10 years$6,358$5,747$5,189$4,680$4,218$3,859
11 years$5,721$5,116$4,568$4,073$3,628$3,285
12 years$5,190$4,592$4,054$3,573$3,144$2,816
13 years$4,742$4,150$3,622$3,154$2,741$2,430
14 years$4,358$3,772$3,254$2,800$2,403$2,107
15 years$4,025$3,446$2,938$2,497$2,116$1,834
16 years$3,735$3,161$2,664$2,236$1,870$1,603
17 years$3,479$2,911$2,424$2,009$1,658$1,404
18 years$3,251$2,690$2,213$1,810$1,474$1,234
19 years$3,048$2,493$2,026$1,636$1,314$1,087
20 years$2,865$2,317$1,859$1,482$1,174$959
21 years$2,700$2,158$1,710$1,345$1,050$848
22 years$2,550$2,015$1,576$1,223$941$750
23 years$2,413$1,884$1,455$1,113$845$665
24 years$2,288$1,765$1,346$1,015$760$590
25 years$2,173$1,657$1,247$927$684$524
26 years$2,067$1,557$1,156$848$616$466
27 years$1,970$1,465$1,074$776$555$415
28 years$1,879$1,381$998$711$501$369
29 years$1,795$1,303$929$652$452$329
30 years$1,716$1,230$865$598$409$293
31 years$1,643$1,163$806$550$369$261
32 years$1,574$1,100$752$505$334$233
33 years$1,510$1,042$703$465$302$208
34 years$1,449$988$656$427$274$186
35 years$1,392$937$614$393$248$166
36 years$1,339$889$574$362$225$148
37 years$1,288$844$537$334$204$132
38 years$1,241$803$503$308$185$118
39 years$1,195$763$471$284$167$106
40 years$1,153$726$442$262$152$95
41 years$1,112$691$414$241$138$85
42 years$1,073$658$389$223$125$76
43 years$1,037$627$365$206$113$68
44 years$1,002$598$342$190$103$60
45 years$968$570$321$175$94$54
46 years$937$544$302$162$85$48
47 years$906$519$284$150$77$43
48 years$877$495$267$138$70$39
49 years$850$473$251$128$64$35
50 years$823$452$236$118$58$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $843,000, adding $2,819 every year, while hoping to spend $42,500 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: 62/19/19 Blend
57$843,000$843,000$843,000$843,000
58$931,894$887,215$874,148$984,961
59$981,727$885,469$858,213$1,019,330
60$1,035,219$882,213$840,319$1,051,827
61$1,092,698$877,328$820,356$1,086,321
62$1,154,525$870,688$798,209$1,123,011
63$1,221,094$862,159$773,757$1,162,116
64$1,292,841$851,600$746,873$1,203,880
65$1,370,242$838,860$717,425$1,248,573
66$1,453,823$823,781$685,275$1,296,495
67$1,544,159$806,192$650,278$1,347,979
68$1,641,884$785,916$612,283$1,403,390
69$1,747,694$762,764$571,132$1,463,137
70$1,862,354$736,535$526,660$1,527,671
71$1,986,706$707,017$478,695$1,597,489
72$2,121,675$673,986$427,056$1,673,145
73$2,268,280$637,204$371,556$1,755,250
74$2,427,639$596,422$311,998$1,844,480
75$2,600,984$551,373$248,176$1,941,585
76$2,789,671$501,777$179,876$2,047,391
77$2,995,191$447,337$106,876$2,162,816
78$3,219,185$387,740$28,940$2,288,872
79$3,463,458$322,656$0$2,426,679
80$3,729,998$251,734$0$2,588,470
81$4,020,993$174,604$0$2,771,596
82$4,338,852$90,877$0$2,971,751
83$4,686,225$141$0$3,190,665
84$5,066,032$0$0$3,430,243
85$5,481,487$0$0$3,713,089
86$5,936,127$0$0$4,022,707
87$6,433,850$0$0$4,361,729
88$6,978,946$0$0$4,733,085
89$7,576,141$0$0$5,140,003
90$8,230,637$0$0$5,586,038
91$8,948,167$0$0$6,075,103
92$9,735,042$0$0$6,611,510
93$10,598,215$0$0$7,200,008
94$11,545,342$0$0$7,845,828
95$12,584,858$0$0$8,554,731
96$13,726,055$0$0$9,333,065
97$14,979,167$0$0$10,187,819
98$16,355,467$0$0$11,126,696
99$17,867,375$0$0$12,158,180
100$19,528,572$0$0$13,291,616