Can I retire at age 58 with 848,000?

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 $848,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$70,027$69,403$68,795$68,201$67,621$67,307
2 years$34,667$34,021$33,395$32,789$32,200$31,884
3 years$22,882$22,233$21,609$21,008$20,429$20,120
4 years$16,990$16,344$15,726$15,135$14,570$14,270
5 years$13,456$12,814$12,204$11,625$11,076$10,786
6 years$11,101$10,463$9,863$9,297$8,764$8,485
7 years$9,419$8,787$8,196$7,643$7,128$6,859
8 years$8,159$7,532$6,951$6,412$5,913$5,655
9 years$7,179$6,558$5,987$5,461$4,980$4,732
10 years$6,395$5,781$5,219$4,708$4,243$4,006
11 years$5,755$5,146$4,595$4,097$3,649$3,422
12 years$5,221$4,619$4,078$3,594$3,162$2,945
13 years$4,770$4,174$3,643$3,173$2,757$2,551
14 years$4,384$3,794$3,274$2,816$2,417$2,220
15 years$4,049$3,466$2,956$2,512$2,128$1,941
16 years$3,757$3,180$2,680$2,249$1,881$1,703
17 years$3,499$2,929$2,438$2,021$1,668$1,498
18 years$3,270$2,706$2,226$1,821$1,483$1,322
19 years$3,066$2,508$2,038$1,646$1,322$1,169
20 years$2,882$2,331$1,870$1,490$1,181$1,036
21 years$2,716$2,171$1,720$1,353$1,057$920
22 years$2,565$2,026$1,585$1,230$947$818
23 years$2,428$1,895$1,464$1,120$850$728
24 years$2,302$1,776$1,354$1,022$764$649
25 years$2,186$1,667$1,254$933$688$579
26 years$2,080$1,566$1,163$853$619$517
27 years$1,981$1,474$1,080$781$558$463
28 years$1,890$1,389$1,004$715$504$414
29 years$1,805$1,310$934$656$455$370
30 years$1,726$1,237$870$602$411$332
31 years$1,652$1,170$811$553$372$297
32 years$1,583$1,107$757$508$336$267
33 years$1,519$1,048$707$467$304$239
34 years$1,458$993$660$430$275$214
35 years$1,401$942$617$396$250$193
36 years$1,347$894$578$365$226$173
37 years$1,296$849$541$336$205$155
38 years$1,248$807$506$310$186$139
39 years$1,202$768$474$285$168$125
40 years$1,159$730$445$263$153$113
41 years$1,118$695$417$243$139$101
42 years$1,080$662$391$224$126$91
43 years$1,043$631$367$207$114$82
44 years$1,008$601$344$191$104$73
45 years$974$573$323$176$94$66
46 years$942$547$304$163$85$59
47 years$912$522$285$151$78$53
48 years$882$498$268$139$70$48
49 years$855$476$252$129$64$43
50 years$828$455$237$119$58$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $848,000, adding $2,852 every year, while hoping to spend $56,794 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: 35/41/24 Blend
57$848,000$848,000$848,000$848,000
58$937,438$892,494$879,350$963,349
59$972,628$875,798$848,380$966,104
60$1,009,504$856,380$814,469$963,686
61$1,048,178$834,047$777,458$959,942
62$1,088,772$808,595$737,182$954,792
63$1,131,417$779,806$693,468$948,149
64$1,176,257$747,452$646,135$939,925
65$1,223,448$711,290$594,993$930,030
66$1,273,159$671,063$539,845$918,370
67$1,325,576$626,500$480,484$904,849
68$1,380,900$577,313$416,696$889,366
69$1,439,351$523,201$348,254$871,822
70$1,501,168$463,841$274,924$852,111
71$1,566,613$398,895$196,459$830,129
72$1,635,971$328,005$112,605$805,769
73$1,709,556$250,792$23,092$778,921
74$1,787,707$166,858$0$749,477
75$1,870,799$75,780$0$735,876
76$1,959,240$0$0$726,976
77$2,053,477$0$0$727,153
78$2,154,000$0$0$763,881
79$2,261,344$0$0$803,175
80$2,376,098$0$0$845,262
81$2,498,906$0$0$890,386
82$2,630,474$0$0$938,819
83$2,771,578$0$0$990,856
84$2,923,068$0$0$1,046,824
85$3,085,876$0$0$1,107,080
86$3,261,028$0$0$1,172,017
87$3,449,647$0$0$1,242,066
88$3,652,969$0$0$1,317,701
89$3,872,351$0$0$1,399,442
90$4,109,284$0$0$1,487,862
91$4,365,405$0$0$1,583,590
92$4,642,515$0$0$1,687,317
93$4,942,593$0$0$1,799,803
94$5,267,816$0$0$1,921,885
95$5,620,575$0$0$2,054,482
96$6,003,501$0$0$2,198,605
97$6,419,490$0$0$2,355,368
98$6,871,724$0$0$2,525,995
99$7,363,705$0$0$2,711,833
100$7,899,287$0$0$2,914,364