Can I retire at age 58 with 801,000?

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 $801,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$66,146$65,557$64,982$64,421$63,873$62,686
2 years$32,745$32,136$31,545$30,972$30,416$29,224
3 years$21,613$21,001$20,411$19,844$19,297$18,138
4 years$16,049$15,438$14,854$14,296$13,763$12,646
5 years$12,710$12,104$11,528$10,981$10,462$9,390
6 years$10,486$9,883$9,316$8,782$8,278$7,252
7 years$8,897$8,300$7,742$7,220$6,733$5,752
8 years$7,707$7,115$6,565$6,056$5,585$4,651
9 years$6,781$6,195$5,655$5,159$4,704$3,815
10 years$6,041$5,460$4,930$4,447$4,008$3,164
11 years$5,436$4,861$4,340$3,870$3,447$2,646
12 years$4,932$4,363$3,852$3,395$2,987$2,229
13 years$4,506$3,943$3,441$2,997$2,605$1,888
14 years$4,141$3,584$3,092$2,660$2,283$1,607
15 years$3,825$3,274$2,792$2,373$2,010$1,373
16 years$3,549$3,004$2,531$2,124$1,777$1,176
17 years$3,305$2,766$2,303$1,909$1,575$1,011
18 years$3,089$2,556$2,103$1,720$1,401$870
19 years$2,896$2,369$1,925$1,554$1,249$751
20 years$2,722$2,202$1,767$1,408$1,115$649
21 years$2,565$2,051$1,625$1,278$998$562
22 years$2,423$1,914$1,498$1,162$895$487
23 years$2,293$1,790$1,383$1,058$803$422
24 years$2,174$1,677$1,279$965$722$367
25 years$2,065$1,574$1,184$881$649$319
26 years$1,964$1,479$1,098$806$585$277
27 years$1,871$1,392$1,020$737$527$241
28 years$1,785$1,312$948$676$476$210
29 years$1,705$1,238$882$620$430$183
30 years$1,630$1,169$822$569$388$159
31 years$1,561$1,105$766$522$351$139
32 years$1,496$1,046$715$480$318$121
33 years$1,434$990$668$441$287$105
34 years$1,377$938$624$406$260$92
35 years$1,323$890$583$374$236$80
36 years$1,272$845$546$344$214$70
37 years$1,224$802$511$317$194$61
38 years$1,179$763$478$292$175$53
39 years$1,136$725$448$270$159$46
40 years$1,095$690$420$249$144$41
41 years$1,056$657$394$229$131$35
42 years$1,020$625$369$212$119$31
43 years$985$596$347$195$108$27
44 years$952$568$325$180$98$24
45 years$920$542$305$167$89$21
46 years$890$517$287$154$81$18
47 years$861$493$270$142$73$16
48 years$834$471$253$131$67$14
49 years$807$450$238$121$60$12
50 years$782$429$224$112$55$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $801,000, adding $6,318 every year, while hoping to spend $52,328 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: 68/18/14 Blend
57$801,000$801,000$801,000$801,000
58$889,219$846,766$834,351$946,414
59$924,243$832,581$806,625$971,123
60$961,085$815,947$776,216$991,336
61$999,876$796,689$742,980$1,012,109
62$1,040,758$774,621$706,764$1,033,492
63$1,083,885$749,547$667,411$1,055,541
64$1,129,426$721,259$624,753$1,078,318
65$1,177,563$689,537$578,619$1,101,895
66$1,228,499$654,148$528,826$1,126,353
67$1,282,450$614,846$475,186$1,151,780
68$1,339,657$571,371$417,502$1,178,279
69$1,400,381$523,446$355,567$1,205,965
70$1,464,906$470,782$289,165$1,234,964
71$1,533,547$413,071$218,072$1,265,422
72$1,606,644$349,987$142,053$1,297,498
73$1,684,573$281,187$60,863$1,331,374
74$1,767,742$206,308$0$1,367,251
75$1,856,603$124,968$0$1,409,207
76$1,951,646$36,762$0$1,463,596
77$2,053,413$0$0$1,521,639
78$2,162,495$0$0$1,595,331
79$2,279,541$0$0$1,682,249
80$2,405,266$0$0$1,775,644
81$2,540,450$0$0$1,876,103
82$2,685,953$0$0$1,984,267
83$2,842,719$0$0$2,100,844
84$3,011,782$0$0$2,226,608
85$3,194,282$0$0$2,362,412
86$3,391,469$0$0$2,509,192
87$3,604,717$0$0$2,667,976
88$3,835,537$0$0$2,839,895
89$4,085,590$0$0$3,026,194
90$4,356,701$0$0$3,228,239
91$4,650,878$0$0$3,447,534
92$4,970,330$0$0$3,685,733
93$5,317,485$0$0$3,944,654
94$5,695,016$0$0$4,226,298
95$6,105,862$0$0$4,532,869
96$6,553,258$0$0$4,866,787
97$7,040,764$0$0$5,230,719
98$7,572,295$0$0$5,627,599
99$8,152,164$0$0$6,060,656
100$8,785,116$0$0$6,533,445