Can I retire at age 58 with 844,000?

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 $844,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$69,697$69,076$68,470$67,879$67,302$65,226
2 years$34,503$33,861$33,238$32,634$32,048$29,975
3 years$22,774$22,128$21,507$20,909$20,333$18,327
4 years$16,910$16,267$15,652$15,064$14,502$12,579
5 years$13,393$12,753$12,146$11,570$11,024$9,189
6 years$11,049$10,414$9,816$9,253$8,723$6,978
7 years$9,375$8,746$8,157$7,607$7,094$5,439
8 years$8,120$7,497$6,918$6,382$5,885$4,319
9 years$7,145$6,527$5,958$5,436$4,956$3,477
10 years$6,365$5,753$5,195$4,686$4,223$2,828
11 years$5,728$5,122$4,573$4,078$3,632$2,319
12 years$5,197$4,597$4,059$3,577$3,147$1,914
13 years$4,748$4,154$3,626$3,158$2,744$1,588
14 years$4,363$3,776$3,258$2,803$2,406$1,323
15 years$4,030$3,450$2,942$2,500$2,118$1,106
16 years$3,739$3,165$2,667$2,238$1,872$927
17 years$3,483$2,915$2,427$2,011$1,660$779
18 years$3,255$2,693$2,215$1,813$1,476$656
19 years$3,051$2,496$2,028$1,638$1,316$553
20 years$2,868$2,320$1,861$1,483$1,175$467
21 years$2,703$2,161$1,712$1,346$1,052$395
22 years$2,553$2,017$1,578$1,224$943$334
23 years$2,416$1,886$1,457$1,115$846$283
24 years$2,291$1,767$1,347$1,017$760$239
25 years$2,176$1,659$1,248$929$684$203
26 years$2,070$1,559$1,157$849$616$172
27 years$1,972$1,467$1,075$777$556$146
28 years$1,881$1,382$999$712$501$124
29 years$1,797$1,304$930$653$453$105
30 years$1,718$1,232$866$599$409$89
31 years$1,645$1,164$807$550$370$76
32 years$1,576$1,102$753$506$335$64
33 years$1,511$1,043$703$465$303$55
34 years$1,451$989$657$428$274$47
35 years$1,394$938$614$394$248$40
36 years$1,340$890$575$363$225$34
37 years$1,290$845$538$334$204$29
38 years$1,242$803$504$308$185$24
39 years$1,197$764$472$284$168$21
40 years$1,154$727$442$262$152$18
41 years$1,113$692$415$242$138$15
42 years$1,075$659$389$223$125$13
43 years$1,038$628$365$206$114$11
44 years$1,003$599$343$190$103$9
45 years$969$571$322$176$94$8
46 years$938$544$302$162$85$7
47 years$907$520$284$150$77$6
48 years$878$496$267$138$70$5
49 years$851$474$251$128$64$4
50 years$824$452$236$118$58$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $844,000, adding $4,938 every year, while hoping to spend $52,524 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: 67/19/14 Blend
57$844,000$844,000$844,000$844,000
58$935,182$890,450$877,368$994,484
59$974,685$878,196$850,874$1,022,397
60$1,016,457$863,583$821,733$1,046,255
61$1,060,675$846,437$789,800$1,071,014
62$1,107,529$826,578$754,924$1,096,758
63$1,157,231$803,814$716,947$1,123,582
64$1,210,009$777,941$675,706$1,151,591
65$1,266,115$748,745$631,027$1,180,902
66$1,325,823$715,999$582,731$1,211,646
67$1,389,434$679,460$530,630$1,243,972
68$1,457,278$638,875$474,527$1,278,043
69$1,529,714$593,974$414,218$1,314,042
70$1,607,139$544,472$349,488$1,352,173
71$1,689,985$490,069$280,113$1,392,665
72$1,778,726$430,445$205,860$1,435,769
73$1,873,885$365,266$126,485$1,481,770
74$1,976,033$294,175$41,734$1,530,982
75$2,085,797$216,798$0$1,583,755
76$2,203,865$132,738$0$1,647,754
77$2,330,993$41,576$0$1,723,262
78$2,468,012$0$0$1,804,564
79$2,615,834$0$0$1,904,184
80$2,775,460$0$0$2,021,186
81$2,947,991$0$0$2,147,689
82$3,134,638$0$0$2,284,587
83$3,336,730$0$0$2,432,860
84$3,555,730$0$0$2,593,586
85$3,793,246$0$0$2,767,953
86$4,051,045$0$0$2,957,265
87$4,331,073$0$0$3,162,957
88$4,635,469$0$0$3,386,607
89$4,966,586$0$0$3,629,951
90$5,327,013$0$0$3,894,901
91$5,719,599$0$0$4,183,559
92$6,147,480$0$0$4,498,238
93$6,614,106$0$0$4,841,484
94$7,123,275$0$0$5,216,102
95$7,679,167$0$0$5,625,175
96$8,286,383$0$0$6,072,100
97$8,949,989$0$0$6,560,616
98$9,675,563$0$0$7,094,839
99$10,469,244$0$0$7,679,302
100$11,337,794$0$0$8,318,995