Can I retire at age 58 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$71,183$70,549$69,930$69,327$68,737$66,325
2 years$35,239$34,583$33,947$33,330$32,732$30,327
3 years$23,259$22,600$21,966$21,355$20,766$18,444
4 years$17,271$16,614$15,986$15,385$14,811$12,589
5 years$13,678$13,025$12,405$11,817$11,259$9,144
6 years$11,284$10,636$10,025$9,450$8,909$6,902
7 years$9,575$8,932$8,331$7,770$7,245$5,346
8 years$8,294$7,657$7,065$6,518$6,011$4,217
9 years$7,297$6,666$6,086$5,552$5,062$3,372
10 years$6,501$5,876$5,305$4,786$4,313$2,724
11 years$5,850$5,231$4,671$4,165$3,709$2,218
12 years$5,307$4,695$4,145$3,653$3,214$1,818
13 years$4,849$4,243$3,704$3,225$2,803$1,497
14 years$4,456$3,857$3,328$2,863$2,457$1,237
15 years$4,116$3,523$3,004$2,553$2,163$1,026
16 years$3,819$3,233$2,724$2,286$1,912$854
17 years$3,557$2,977$2,479$2,054$1,695$711
18 years$3,324$2,751$2,263$1,851$1,507$594
19 years$3,117$2,550$2,071$1,673$1,344$497
20 years$2,930$2,369$1,901$1,515$1,200$416
21 years$2,761$2,207$1,749$1,375$1,074$348
22 years$2,608$2,060$1,612$1,250$963$292
23 years$2,468$1,927$1,488$1,138$864$245
24 years$2,340$1,805$1,376$1,038$777$206
25 years$2,222$1,694$1,275$948$699$173
26 years$2,114$1,592$1,182$867$630$145
27 years$2,014$1,498$1,098$794$568$122
28 years$1,921$1,412$1,020$727$512$103
29 years$1,835$1,332$950$667$462$87
30 years$1,755$1,258$885$612$418$73
31 years$1,680$1,189$825$562$378$61
32 years$1,609$1,125$769$517$342$52
33 years$1,544$1,066$718$475$309$43
34 years$1,482$1,010$671$437$280$37
35 years$1,424$958$628$402$254$31
36 years$1,369$909$587$371$230$26
37 years$1,317$863$549$341$208$22
38 years$1,269$821$515$315$189$18
39 years$1,222$780$482$290$171$16
40 years$1,178$742$452$268$155$13
41 years$1,137$707$424$247$141$11
42 years$1,097$673$397$228$128$9
43 years$1,060$641$373$210$116$8
44 years$1,024$611$350$194$105$7
45 years$990$583$329$179$96$6
46 years$958$556$309$166$87$5
47 years$927$531$290$153$79$4
48 years$897$507$273$141$72$3
49 years$869$484$256$131$65$3
50 years$842$462$241$121$59$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $862,000, adding $4,840 every year, while hoping to spend $28,252 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: 53/22/25 Blend
57$862,000$862,000$862,000$862,000
58$954,916$909,230$895,869$998,665
59$1,022,258$923,723$895,821$1,043,895
60$1,095,522$937,978$894,824$1,089,787
61$1,175,281$951,956$892,817$1,139,151
62$1,262,169$965,611$889,736$1,192,327
63$1,356,880$978,895$885,512$1,249,694
64$1,460,180$991,759$880,074$1,311,670
65$1,572,910$1,004,148$873,349$1,378,713
66$1,695,998$1,016,002$865,258$1,451,333
67$1,830,465$1,027,262$855,719$1,530,090
68$1,977,434$1,037,859$844,647$1,615,603
69$2,138,142$1,047,724$831,953$1,708,554
70$2,313,952$1,056,781$817,542$1,809,698
71$2,506,361$1,064,950$801,316$1,919,868
72$2,717,023$1,072,145$783,173$2,039,980
73$2,947,755$1,078,276$763,005$2,171,050
74$3,200,561$1,083,246$740,700$2,314,194
75$3,477,644$1,086,951$716,140$2,470,647
76$3,781,435$1,089,283$689,201$2,641,771
77$4,114,608$1,090,125$659,756$2,829,068
78$4,480,110$1,089,353$627,670$3,034,196
79$4,881,186$1,086,836$592,802$3,258,983
80$5,321,412$1,082,436$555,006$3,505,449
81$5,804,724$1,076,003$514,127$3,775,819
82$6,335,461$1,067,382$470,005$4,072,549
83$6,918,400$1,056,406$422,472$4,398,347
84$7,558,806$1,042,900$371,354$4,756,204
85$8,262,478$1,026,675$316,468$5,149,416
86$9,035,803$1,007,534$257,622$5,581,618
87$9,885,820$985,269$194,617$6,056,821
88$10,820,282$959,655$127,245$6,579,450
89$11,847,731$930,459$55,289$7,154,383
90$12,977,580$897,431$0$7,787,001
91$14,220,196$860,309$0$8,488,974
92$15,587,005$818,813$0$9,277,223
93$17,090,593$772,648$0$10,144,267
94$18,744,829$721,504$0$11,098,134
95$20,564,994$665,049$0$12,147,671
96$22,567,924$602,937$0$13,302,633
97$24,772,169$534,798$0$14,573,767
98$27,198,170$460,243$0$15,972,922
99$29,868,450$378,861$0$17,513,156
100$32,807,824$290,218$0$19,208,864