Can I retire at age 58 with 796,000?

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 $796,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$65,733$65,147$64,576$64,019$63,474$61,101
2 years$32,541$31,935$31,348$30,778$30,226$27,862
3 years$21,479$20,870$20,284$19,720$19,176$16,896
4 years$15,948$15,342$14,762$14,207$13,677$11,498
5 years$12,631$12,028$11,456$10,912$10,397$8,325
6 years$10,420$9,822$9,258$8,727$8,227$6,263
7 years$8,842$8,248$7,693$7,175$6,691$4,834
8 years$7,659$7,070$6,525$6,019$5,550$3,800
9 years$6,739$6,156$5,620$5,127$4,674$3,027
10 years$6,003$5,426$4,899$4,419$3,983$2,437
11 years$5,402$4,831$4,313$3,846$3,425$1,976
12 years$4,901$4,336$3,828$3,373$2,968$1,613
13 years$4,478$3,918$3,420$2,978$2,588$1,323
14 years$4,115$3,562$3,073$2,644$2,269$1,089
15 years$3,801$3,254$2,774$2,358$1,998$899
16 years$3,527$2,985$2,515$2,111$1,766$745
17 years$3,285$2,749$2,289$1,897$1,566$618
18 years$3,070$2,540$2,089$1,709$1,392$514
19 years$2,878$2,354$1,913$1,545$1,241$427
20 years$2,705$2,188$1,755$1,399$1,108$356
21 years$2,549$2,038$1,615$1,270$992$297
22 years$2,408$1,902$1,488$1,154$889$248
23 years$2,279$1,779$1,374$1,051$798$207
24 years$2,161$1,667$1,271$959$717$173
25 years$2,052$1,564$1,177$876$645$145
26 years$1,952$1,470$1,092$801$581$121
27 years$1,860$1,384$1,014$733$524$101
28 years$1,774$1,304$942$671$473$85
29 years$1,694$1,230$877$616$427$71
30 years$1,620$1,162$817$565$386$60
31 years$1,551$1,098$761$519$349$50
32 years$1,486$1,039$710$477$316$42
33 years$1,426$984$663$439$286$35
34 years$1,368$933$620$404$259$29
35 years$1,315$885$579$372$234$25
36 years$1,264$840$542$342$212$21
37 years$1,217$797$507$315$192$17
38 years$1,171$758$475$291$174$14
39 years$1,129$721$445$268$158$12
40 years$1,088$686$417$247$143$10
41 years$1,050$653$391$228$130$9
42 years$1,013$622$367$210$118$7
43 years$979$592$344$194$107$6
44 years$946$564$323$179$97$5
45 years$914$538$304$166$88$4
46 years$884$513$285$153$80$4
47 years$856$490$268$141$73$3
48 years$828$468$252$131$66$2
49 years$802$447$237$121$60$2
50 years$777$427$222$112$55$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $796,000, adding $2,475 every year, while hoping to spend $50,366 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: 36/49/15 Blend
57$796,000$796,000$796,000$796,000
58$879,745$837,557$825,219$907,287
59$915,890$825,008$799,275$914,846
60$954,034$810,157$770,773$918,037
61$994,327$792,836$739,576$920,397
62$1,036,934$772,870$705,537$921,879
63$1,082,034$750,074$668,506$922,434
64$1,129,823$724,250$628,323$922,016
65$1,180,516$695,189$584,822$920,575
66$1,234,346$662,670$537,831$918,064
67$1,291,569$626,461$487,169$914,438
68$1,352,466$586,314$432,645$909,651
69$1,417,343$541,969$374,064$903,660
70$1,486,535$493,149$311,219$896,425
71$1,560,410$439,562$243,893$887,907
72$1,639,372$380,900$171,863$878,075
73$1,723,861$316,838$94,894$866,899
74$1,814,363$247,030$12,741$854,356
75$1,911,407$171,114$0$840,432
76$2,015,578$88,706$0$837,110
77$2,127,513$0$0$835,358
78$2,247,917$0$0$833,515
79$2,377,558$0$0$883,110
80$2,517,284$0$0$936,649
81$2,668,024$0$0$994,497
82$2,830,800$0$0$1,057,059
83$3,006,734$0$0$1,124,777
84$3,197,060$0$0$1,198,140
85$3,403,134$0$0$1,277,682
86$3,626,447$0$0$1,363,994
87$3,868,638$0$0$1,457,723
88$4,131,509$0$0$1,559,582
89$4,417,044$0$0$1,670,356
90$4,727,423$0$0$1,790,908
91$5,065,045$0$0$1,922,186
92$5,432,552$0$0$2,065,236
93$5,832,846$0$0$2,221,206
94$6,269,125$0$0$2,391,364
95$6,744,906$0$0$2,577,100
96$7,264,061$0$0$2,779,949
97$7,830,852$0$0$3,001,598
98$8,449,970$0$0$3,243,905
99$9,126,579$0$0$3,508,917
100$9,866,367$0$0$3,798,884