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%14.9%
1 years$71,183$70,549$69,930$69,327$68,737$67,349
2 years$35,239$34,583$33,947$33,330$32,732$31,340
3 years$23,259$22,600$21,966$21,355$20,766$19,413
4 years$17,271$16,614$15,986$15,385$14,811$13,507
5 years$13,678$13,025$12,405$11,817$11,259$10,009
6 years$11,284$10,636$10,025$9,450$8,909$7,713
7 years$9,575$8,932$8,331$7,770$7,245$6,105
8 years$8,294$7,657$7,065$6,518$6,011$4,924
9 years$7,297$6,666$6,086$5,552$5,062$4,029
10 years$6,501$5,876$5,305$4,786$4,313$3,333
11 years$5,850$5,231$4,671$4,165$3,709$2,781
12 years$5,307$4,695$4,145$3,653$3,214$2,337
13 years$4,849$4,243$3,704$3,225$2,803$1,974
14 years$4,456$3,857$3,328$2,863$2,457$1,675
15 years$4,116$3,523$3,004$2,553$2,163$1,427
16 years$3,819$3,233$2,724$2,286$1,912$1,220
17 years$3,557$2,977$2,479$2,054$1,695$1,045
18 years$3,324$2,751$2,263$1,851$1,507$897
19 years$3,117$2,550$2,071$1,673$1,344$772
20 years$2,930$2,369$1,901$1,515$1,200$665
21 years$2,761$2,207$1,749$1,375$1,074$574
22 years$2,608$2,060$1,612$1,250$963$496
23 years$2,468$1,927$1,488$1,138$864$429
24 years$2,340$1,805$1,376$1,038$777$371
25 years$2,222$1,694$1,275$948$699$322
26 years$2,114$1,592$1,182$867$630$279
27 years$2,014$1,498$1,098$794$568$242
28 years$1,921$1,412$1,020$727$512$210
29 years$1,835$1,332$950$667$462$182
30 years$1,755$1,258$885$612$418$158
31 years$1,680$1,189$825$562$378$137
32 years$1,609$1,125$769$517$342$119
33 years$1,544$1,066$718$475$309$104
34 years$1,482$1,010$671$437$280$90
35 years$1,424$958$628$402$254$78
36 years$1,369$909$587$371$230$68
37 years$1,317$863$549$341$208$59
38 years$1,269$821$515$315$189$51
39 years$1,222$780$482$290$171$45
40 years$1,178$742$452$268$155$39
41 years$1,137$707$424$247$141$34
42 years$1,097$673$397$228$128$29
43 years$1,060$641$373$210$116$26
44 years$1,024$611$350$194$105$22
45 years$990$583$329$179$96$19
46 years$958$556$309$166$87$17
47 years$927$531$290$153$79$15
48 years$897$507$273$141$72$13
49 years$869$484$256$131$65$11
50 years$842$462$241$121$59$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $862,000, adding $3,615 every year, while hoping to spend $29,488 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: 20/50/30 Blend
57$862,000$862,000$862,000$862,000
58$953,653$907,967$894,606$963,581
59$1,019,550$921,082$893,200$986,477
60$1,091,181$933,852$890,759$1,008,260
61$1,169,099$946,228$887,217$1,030,882
62$1,253,913$958,159$882,504$1,054,429
63$1,346,293$969,590$876,549$1,078,998
64$1,446,977$980,462$869,276$1,104,698
65$1,556,777$990,712$860,604$1,131,649
66$1,676,585$1,000,275$850,452$1,159,988
67$1,807,387$1,009,078$838,732$1,189,868
68$1,950,263$1,017,046$825,353$1,221,458
69$2,106,407$1,024,098$810,218$1,254,950
70$2,277,129$1,030,147$793,230$1,290,557
71$2,463,875$1,035,103$774,282$1,328,517
72$2,668,235$1,038,868$753,265$1,369,095
73$2,891,961$1,041,338$730,065$1,412,588
74$3,136,981$1,042,404$704,562$1,459,326
75$3,405,419$1,041,948$676,631$1,509,677
76$3,699,615$1,039,846$646,141$1,564,052
77$4,022,144$1,035,967$612,955$1,622,905
78$4,375,844$1,030,171$576,931$1,686,746
79$4,763,840$1,022,309$537,918$1,756,139
80$5,189,573$1,012,224$495,760$1,831,711
81$5,656,836$999,750$450,294$1,914,160
82$6,169,805$984,708$401,350$2,004,262
83$6,733,079$966,913$348,750$2,102,876
84$7,351,727$946,166$292,307$2,210,958
85$8,031,331$922,256$231,827$2,329,568
86$8,778,041$894,960$167,107$2,459,881
87$9,598,632$864,044$97,936$2,603,203
88$10,500,568$829,258$24,092$2,760,979
89$11,492,072$790,338$0$2,934,811
90$12,582,203$747,005$0$3,143,988
91$13,780,944$698,964$0$3,382,334
92$15,099,289$645,902$0$3,644,386
93$16,549,355$587,490$0$3,932,642
94$18,144,491$523,379$0$4,249,860
95$19,899,405$453,200$0$4,599,087
96$21,830,301$376,564$0$4,983,691
97$23,955,036$293,059$0$5,407,390
98$26,293,281$202,251$0$5,874,291
99$28,866,715$103,680$0$6,388,931
100$31,699,222$0$0$6,956,318