Can I retire at age 58 with 849,000?

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 $849,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$70,110$69,485$68,876$68,281$67,700$67,189
2 years$34,708$34,061$33,435$32,827$32,238$31,723
3 years$22,909$22,259$21,635$21,033$20,453$19,950
4 years$17,010$16,363$15,744$15,153$14,587$14,100
5 years$13,472$12,829$12,218$11,639$11,089$10,618
6 years$11,114$10,476$9,874$9,308$8,774$8,321
7 years$9,431$8,797$8,206$7,652$7,136$6,701
8 years$8,168$7,541$6,959$6,419$5,920$5,503
9 years$7,187$6,566$5,994$5,468$4,985$4,586
10 years$6,403$5,787$5,225$4,713$4,248$3,866
11 years$5,761$5,152$4,600$4,102$3,653$3,289
12 years$5,227$4,624$4,083$3,598$3,166$2,818
13 years$4,776$4,179$3,648$3,177$2,761$2,430
14 years$4,389$3,799$3,277$2,820$2,420$2,105
15 years$4,054$3,470$2,959$2,515$2,131$1,832
16 years$3,761$3,184$2,683$2,252$1,883$1,599
17 years$3,503$2,932$2,441$2,023$1,670$1,401
18 years$3,274$2,709$2,229$1,823$1,485$1,230
19 years$3,070$2,511$2,040$1,647$1,323$1,082
20 years$2,885$2,333$1,872$1,492$1,182$954
21 years$2,719$2,174$1,722$1,354$1,058$843
22 years$2,568$2,029$1,587$1,231$948$746
23 years$2,431$1,898$1,466$1,121$851$660
24 years$2,305$1,778$1,355$1,023$765$585
25 years$2,189$1,668$1,255$934$688$520
26 years$2,082$1,568$1,164$854$620$462
27 years$1,984$1,476$1,081$782$559$410
28 years$1,892$1,391$1,005$716$504$365
29 years$1,807$1,312$935$657$455$325
30 years$1,728$1,239$871$603$412$289
31 years$1,654$1,171$812$554$372$258
32 years$1,585$1,108$758$509$337$230
33 years$1,520$1,049$708$468$305$205
34 years$1,460$995$661$430$276$183
35 years$1,402$943$618$396$250$163
36 years$1,348$895$578$365$226$146
37 years$1,298$850$541$336$205$130
38 years$1,249$808$507$310$186$116
39 years$1,204$769$475$286$169$104
40 years$1,161$731$445$264$153$93
41 years$1,120$696$417$243$139$83
42 years$1,081$663$391$224$126$74
43 years$1,044$632$367$207$114$66
44 years$1,009$602$345$191$104$59
45 years$975$574$324$177$94$53
46 years$943$548$304$163$86$47
47 years$913$523$286$151$78$42
48 years$884$499$268$139$71$38
49 years$856$476$252$129$64$34
50 years$829$455$237$119$58$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $849,000, adding $6,795 every year, while hoping to spend $42,395 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: 68/6/26 Blend
57$849,000$849,000$849,000$849,000
58$942,607$897,610$884,451$999,940
59$993,645$896,485$868,972$1,038,178
60$1,048,468$893,884$851,553$1,074,531
61$1,107,417$889,690$832,086$1,113,329
62$1,170,867$883,778$810,454$1,154,814
63$1,239,230$876,017$786,539$1,199,254
64$1,312,957$866,268$760,214$1,246,945
65$1,392,545$854,382$731,347$1,298,214
66$1,478,540$840,201$699,802$1,353,425
67$1,571,540$823,560$665,435$1,412,977
68$1,672,206$804,283$628,096$1,477,312
69$1,781,261$782,183$587,627$1,546,920
70$1,899,502$757,063$543,865$1,622,342
71$2,027,805$728,713$496,638$1,704,174
72$2,167,133$696,912$445,768$1,793,078
73$2,318,547$661,426$391,067$1,889,781
74$2,483,211$622,009$332,340$1,995,090
75$2,662,408$578,397$269,383$2,109,895
76$2,857,550$530,314$201,983$2,235,178
77$3,070,189$477,468$129,918$2,372,025
78$3,302,033$419,550$52,956$2,521,635
79$3,554,965$356,232$0$2,685,332
80$3,831,053$287,169$0$2,872,673
81$4,132,577$211,997$0$3,093,380
82$4,462,045$130,330$0$3,334,602
83$4,822,219$41,762$0$3,598,384
84$5,216,140$0$0$3,886,975
85$5,647,156$0$0$4,206,430
86$6,118,953$0$0$4,559,178
87$6,635,590$0$0$4,945,503
88$7,201,538$0$0$5,368,753
89$7,821,721$0$0$5,832,618
90$8,501,559$0$0$6,341,158
91$9,247,024$0$0$6,898,848
92$10,064,693$0$0$7,510,616
93$10,961,810$0$0$8,181,889
94$11,946,355$0$0$8,918,645
95$13,027,116$0$0$9,727,470
96$14,213,775$0$0$10,615,617
97$15,516,997$0$0$11,591,077
98$16,948,530$0$0$12,662,654
99$18,521,317$0$0$13,840,044
100$20,249,615$0$0$15,133,930