Can I retire at age 58 with 846,000?

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 $846,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$69,862$69,240$68,632$68,040$67,461$64,990
2 years$34,585$33,941$33,317$32,711$32,124$29,662
3 years$22,828$22,181$21,558$20,959$20,381$18,005
4 years$16,950$16,305$15,689$15,099$14,536$12,265
5 years$13,425$12,784$12,175$11,598$11,050$8,889
6 years$11,075$10,439$9,839$9,275$8,743$6,695
7 years$9,397$8,766$8,177$7,625$7,111$5,174
8 years$8,140$7,514$6,934$6,397$5,899$4,072
9 years$7,162$6,543$5,973$5,449$4,968$3,248
10 years$6,380$5,767$5,207$4,697$4,233$2,617
11 years$5,741$5,134$4,584$4,088$3,640$2,126
12 years$5,209$4,608$4,068$3,585$3,155$1,737
13 years$4,759$4,164$3,635$3,165$2,751$1,426
14 years$4,373$3,785$3,266$2,810$2,411$1,176
15 years$4,040$3,458$2,949$2,506$2,123$973
16 years$3,748$3,173$2,673$2,244$1,877$807
17 years$3,491$2,922$2,433$2,016$1,664$670
18 years$3,263$2,700$2,221$1,817$1,479$558
19 years$3,059$2,502$2,033$1,642$1,319$465
20 years$2,875$2,325$1,866$1,487$1,178$388
21 years$2,710$2,166$1,716$1,349$1,054$324
22 years$2,559$2,022$1,582$1,227$945$271
23 years$2,422$1,891$1,460$1,117$848$227
24 years$2,296$1,772$1,351$1,019$762$190
25 years$2,181$1,663$1,251$931$686$159
26 years$2,075$1,563$1,160$851$618$133
27 years$1,977$1,471$1,077$779$557$112
28 years$1,886$1,386$1,002$714$503$94
29 years$1,801$1,307$932$654$454$79
30 years$1,722$1,235$868$601$410$66
31 years$1,648$1,167$809$552$371$55
32 years$1,580$1,104$755$507$335$46
33 years$1,515$1,046$705$466$304$39
34 years$1,454$991$659$429$275$33
35 years$1,397$940$616$395$249$27
36 years$1,344$892$576$364$226$23
37 years$1,293$847$539$335$204$19
38 years$1,245$805$505$309$185$16
39 years$1,200$766$473$285$168$14
40 years$1,157$729$443$263$152$11
41 years$1,116$694$416$242$138$10
42 years$1,077$661$390$224$125$8
43 years$1,040$629$366$206$114$7
44 years$1,005$600$344$191$103$6
45 years$972$572$323$176$94$5
46 years$940$546$303$163$85$4
47 years$909$521$285$150$77$3
48 years$880$497$268$139$70$3
49 years$853$475$251$128$64$2
50 years$826$454$236$119$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $846,000, adding $6,075 every year, while hoping to spend $20,289 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: 56/35/9 Blend
57$846,000$846,000$846,000$846,000
58$938,558$893,720$880,607$988,758
59$1,012,704$915,925$888,520$1,045,556
60$1,093,732$938,538$896,018$1,104,613
61$1,182,324$961,558$903,066$1,168,446
62$1,279,229$984,982$909,627$1,237,514
63$1,385,272$1,008,808$915,661$1,312,322
64$1,501,361$1,033,031$921,127$1,393,424
65$1,628,498$1,057,647$925,982$1,481,433
66$1,767,783$1,082,650$930,181$1,577,023
67$1,920,430$1,108,033$933,676$1,680,934
68$2,087,776$1,133,789$936,416$1,793,985
69$2,271,293$1,159,908$938,349$1,917,076
70$2,472,600$1,186,379$939,420$2,051,197
71$2,693,485$1,213,191$939,570$2,197,441
72$2,935,913$1,240,330$938,738$2,357,012
73$3,202,052$1,267,782$936,861$2,531,234
74$3,494,286$1,295,528$933,871$2,721,568
75$3,815,246$1,323,552$929,698$2,929,623
76$4,167,827$1,351,832$924,269$3,157,172
77$4,555,219$1,380,345$917,506$3,406,168
78$4,980,937$1,409,067$909,327$3,678,763
79$5,448,852$1,437,971$899,649$3,977,329
80$5,963,229$1,467,026$888,382$4,304,480
81$6,528,769$1,496,201$875,434$4,663,094
82$7,150,649$1,525,461$860,706$5,056,345
83$7,834,573$1,554,766$844,098$5,487,730
84$8,586,826$1,584,076$825,501$5,961,102
85$9,414,332$1,613,345$804,805$6,480,708
86$10,324,720$1,642,526$781,893$7,051,227
87$11,326,398$1,671,565$756,642$7,677,816
88$12,428,625$1,700,407$728,924$8,366,160
89$13,641,609$1,728,990$698,607$9,122,520
90$14,976,592$1,757,250$665,550$9,953,799
91$16,445,965$1,785,117$629,607$10,867,604
92$18,063,380$1,812,514$590,625$11,872,317
93$19,843,879$1,839,361$548,445$12,977,179
94$21,804,037$1,865,572$502,900$14,192,369
95$23,962,117$1,891,054$453,816$15,529,109
96$26,338,245$1,915,707$401,010$16,999,766
97$28,954,596$1,939,426$344,294$18,617,967
98$31,835,605$1,962,098$283,468$20,398,732
99$35,008,197$1,983,601$218,324$22,358,614
100$38,502,042$2,003,807$148,648$24,515,855