Can I retire at age 58 with 845,000?

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 $845,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$69,779$69,158$68,551$67,959$67,381$66,789
2 years$34,544$33,901$33,277$32,673$32,086$31,489
3 years$22,801$22,155$21,533$20,934$20,357$19,774
4 years$16,930$16,286$15,670$15,082$14,519$13,954
5 years$13,409$12,768$12,161$11,584$11,037$10,492
6 years$11,062$10,426$9,828$9,264$8,733$8,209
7 years$9,386$8,756$8,167$7,616$7,102$6,600
8 years$8,130$7,506$6,926$6,389$5,892$5,410
9 years$7,153$6,535$5,965$5,442$4,962$4,501
10 years$6,373$5,760$5,201$4,691$4,228$3,788
11 years$5,734$5,128$4,579$4,083$3,636$3,216
12 years$5,203$4,603$4,064$3,581$3,151$2,751
13 years$4,753$4,159$3,630$3,162$2,748$2,367
14 years$4,368$3,781$3,262$2,807$2,409$2,047
15 years$4,035$3,454$2,945$2,503$2,121$1,777
16 years$3,744$3,169$2,670$2,241$1,874$1,549
17 years$3,487$2,918$2,430$2,014$1,662$1,353
18 years$3,259$2,697$2,218$1,815$1,478$1,186
19 years$3,055$2,499$2,031$1,640$1,317$1,041
20 years$2,872$2,322$1,864$1,485$1,176$916
21 years$2,706$2,163$1,714$1,348$1,053$807
22 years$2,556$2,019$1,580$1,225$944$713
23 years$2,419$1,889$1,459$1,116$847$630
24 years$2,294$1,770$1,349$1,018$761$557
25 years$2,179$1,661$1,249$930$685$493
26 years$2,072$1,561$1,159$850$617$437
27 years$1,974$1,469$1,076$778$556$388
28 years$1,883$1,384$1,000$713$502$344
29 years$1,799$1,306$931$654$453$306
30 years$1,720$1,233$867$600$410$271
31 years$1,647$1,166$808$551$370$241
32 years$1,578$1,103$754$506$335$215
33 years$1,513$1,045$704$466$303$191
34 years$1,453$990$658$428$274$170
35 years$1,396$939$615$394$249$151
36 years$1,342$891$575$363$225$135
37 years$1,291$846$539$335$204$120
38 years$1,244$804$504$308$185$107
39 years$1,198$765$473$284$168$95
40 years$1,155$728$443$262$152$85
41 years$1,115$693$415$242$138$75
42 years$1,076$660$390$223$125$67
43 years$1,039$629$366$206$114$60
44 years$1,004$599$343$190$103$53
45 years$971$571$322$176$94$48
46 years$939$545$303$162$85$42
47 years$908$520$284$150$77$38
48 years$879$497$267$139$70$34
49 years$852$474$251$128$64$30
50 years$825$453$236$118$58$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $845,000, adding $2,914 every year, while hoping to spend $56,496 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: 63/29/8 Blend
57$845,000$845,000$845,000$845,000
58$934,196$889,411$876,313$991,352
59$969,372$872,881$845,558$1,013,324
60$1,006,244$853,647$811,880$1,030,441
61$1,044,923$831,518$775,120$1,047,681
62$1,085,532$806,289$735,114$1,065,056
63$1,128,205$777,747$691,689$1,082,577
64$1,173,088$745,662$644,667$1,100,263
65$1,220,338$709,794$593,857$1,118,134
66$1,270,126$669,888$539,065$1,136,215
67$1,322,640$625,673$480,085$1,154,537
68$1,378,083$576,866$416,702$1,173,138
69$1,436,679$523,163$348,693$1,192,062
70$1,498,669$464,247$275,823$1,211,361
71$1,564,320$399,781$197,849$1,231,098
72$1,633,919$329,409$114,516$1,251,343
73$1,707,783$252,755$25,557$1,272,180
74$1,786,259$169,422$0$1,293,705
75$1,869,724$78,990$0$1,321,953
76$1,958,592$0$0$1,353,842
77$2,053,317$0$0$1,393,418
78$2,154,395$0$0$1,462,580
79$2,262,369$0$0$1,536,499
80$2,377,836$0$0$1,615,586
81$2,501,449$0$0$1,700,295
82$2,633,923$0$0$1,791,122
83$2,776,047$0$0$1,888,611
84$2,928,680$0$0$1,993,360
85$3,092,771$0$0$2,106,024
86$3,269,359$0$0$2,227,325
87$3,459,583$0$0$2,358,053
88$3,664,698$0$0$2,499,077
89$3,886,081$0$0$2,651,350
90$4,125,243$0$0$2,815,923
91$4,383,847$0$0$2,993,948
92$4,663,721$0$0$3,186,691
93$4,966,872$0$0$3,395,546
94$5,295,510$0$0$3,622,044
95$5,652,062$0$0$3,867,870
96$6,039,200$0$0$4,134,876
97$6,459,860$0$0$4,425,100
98$6,917,274$0$0$4,740,783
99$7,414,998$0$0$5,084,392
100$7,956,943$0$0$5,458,641