Can I retire at age 58 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$69,944$69,321$68,714$68,120$67,541$65,881
2 years$34,626$33,981$33,356$32,750$32,162$30,501
3 years$22,855$22,207$21,584$20,983$20,405$18,793
4 years$16,970$16,325$15,707$15,117$14,553$13,003
5 years$13,440$12,799$12,190$11,612$11,063$9,580
6 years$11,088$10,451$9,851$9,286$8,754$7,339
7 years$9,408$8,777$8,186$7,634$7,119$5,772
8 years$8,149$7,523$6,943$6,404$5,906$4,626
9 years$7,170$6,550$5,980$5,455$4,974$3,761
10 years$6,388$5,774$5,213$4,702$4,238$3,090
11 years$5,748$5,140$4,590$4,092$3,645$2,560
12 years$5,215$4,613$4,073$3,590$3,158$2,136
13 years$4,765$4,169$3,639$3,169$2,754$1,791
14 years$4,379$3,790$3,270$2,813$2,414$1,509
15 years$4,045$3,462$2,952$2,509$2,126$1,275
16 years$3,753$3,176$2,677$2,246$1,879$1,081
17 years$3,495$2,925$2,436$2,018$1,666$919
18 years$3,267$2,703$2,223$1,819$1,481$783
19 years$3,062$2,505$2,035$1,644$1,320$668
20 years$2,879$2,328$1,868$1,489$1,179$571
21 years$2,713$2,168$1,718$1,351$1,055$489
22 years$2,562$2,024$1,584$1,228$946$419
23 years$2,425$1,893$1,462$1,119$849$359
24 years$2,299$1,774$1,352$1,020$763$308
25 years$2,184$1,665$1,252$932$687$264
26 years$2,077$1,564$1,162$852$619$227
27 years$1,979$1,472$1,079$780$558$195
28 years$1,888$1,387$1,003$715$503$168
29 years$1,803$1,309$933$655$454$144
30 years$1,724$1,236$869$601$411$124
31 years$1,650$1,168$810$552$371$107
32 years$1,581$1,106$756$508$336$92
33 years$1,517$1,047$706$467$304$79
34 years$1,456$992$660$429$275$68
35 years$1,399$941$617$395$249$59
36 years$1,345$893$577$364$226$51
37 years$1,294$848$540$335$205$44
38 years$1,246$806$506$309$186$38
39 years$1,201$767$474$285$168$32
40 years$1,158$730$444$263$153$28
41 years$1,117$694$416$243$138$24
42 years$1,078$661$391$224$126$21
43 years$1,041$630$366$207$114$18
44 years$1,006$601$344$191$103$15
45 years$973$573$323$176$94$13
46 years$941$546$303$163$85$11
47 years$911$521$285$150$77$10
48 years$881$498$268$139$70$8
49 years$854$475$252$128$64$7
50 years$827$454$237$119$58$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $847,000, adding $6,453 every year, while hoping to spend $44,157 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: 49/42/9 Blend
57$847,000$847,000$847,000$847,000
58$940,050$895,159$882,031$983,550
59$988,953$892,039$864,596$1,010,907
60$1,041,363$887,287$845,097$1,035,408
61$1,097,593$880,774$823,419$1,060,998
62$1,157,984$872,368$799,440$1,087,790
63$1,222,910$861,926$773,033$1,115,911
64$1,292,783$849,297$744,066$1,145,506
65$1,368,055$834,321$712,400$1,176,735
66$1,449,222$816,828$677,891$1,209,778
67$1,536,830$796,640$640,387$1,244,837
68$1,631,476$773,565$599,730$1,282,136
69$1,733,821$747,403$555,755$1,321,927
70$1,844,586$717,942$508,288$1,364,491
71$1,964,567$684,955$457,150$1,410,141
72$2,094,640$648,204$402,151$1,459,229
73$2,235,765$607,438$343,094$1,512,142
74$2,389,000$562,389$279,775$1,569,317
75$2,555,508$512,777$211,978$1,631,238
76$2,736,570$458,303$139,479$1,698,442
77$2,933,592$398,652$62,044$1,771,531
78$3,148,125$333,491$0$1,851,172
79$3,381,871$262,470$0$1,940,084
80$3,636,708$185,218$0$2,043,601
81$3,914,700$101,341$0$2,156,701
82$4,218,119$10,426$0$2,280,429
83$4,549,466$0$0$2,415,943
84$4,911,496$0$0$2,605,180
85$5,307,239$0$0$2,817,395
86$5,740,033$0$0$3,049,570
87$6,213,552$0$0$3,303,689
88$6,731,844$0$0$3,581,933
89$7,299,364$0$0$3,886,709
90$7,921,018$0$0$4,220,664
91$8,602,211$0$0$4,586,713
92$9,348,892$0$0$4,988,070
93$10,167,616$0$0$5,428,270
94$11,065,602$0$0$5,911,210
95$12,050,801$0$0$6,441,182
96$13,131,969$0$0$7,022,912
97$14,318,755$0$0$7,661,608
98$15,621,783$0$0$8,363,004
99$17,052,760$0$0$9,133,421
100$18,624,579$0$0$9,979,818