Can I retire at age 58 with 824,000?

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 $824,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$68,045$67,439$66,848$66,271$65,707$63,706
2 years$33,686$33,058$32,450$31,861$31,289$29,290
3 years$22,234$21,604$20,998$20,414$19,851$17,917
4 years$16,509$15,881$15,281$14,707$14,158$12,303
5 years$13,075$12,451$11,859$11,296$10,763$8,993
6 years$10,787$10,167$9,583$9,034$8,516$6,833
7 years$9,153$8,538$7,964$7,427$6,926$5,329
8 years$7,928$7,319$6,754$6,230$5,746$4,234
9 years$6,976$6,373$5,817$5,307$4,839$3,410
10 years$6,214$5,617$5,072$4,575$4,123$2,776
11 years$5,592$5,001$4,465$3,981$3,546$2,278
12 years$5,073$4,488$3,963$3,492$3,073$1,881
13 years$4,635$4,056$3,540$3,083$2,679$1,562
14 years$4,260$3,687$3,181$2,737$2,349$1,302
15 years$3,935$3,368$2,872$2,441$2,068$1,089
16 years$3,651$3,090$2,604$2,185$1,828$914
17 years$3,400$2,846$2,369$1,964$1,621$768
18 years$3,178$2,630$2,163$1,770$1,441$647
19 years$2,979$2,437$1,980$1,599$1,284$546
20 years$2,801$2,265$1,817$1,448$1,147$461
21 years$2,639$2,110$1,671$1,314$1,027$390
22 years$2,493$1,969$1,541$1,195$920$330
23 years$2,359$1,842$1,422$1,088$826$280
24 years$2,237$1,726$1,315$993$742$237
25 years$2,124$1,619$1,218$906$668$201
26 years$2,021$1,522$1,130$829$602$171
27 years$1,925$1,432$1,049$759$543$145
28 years$1,837$1,350$975$695$490$123
29 years$1,754$1,273$908$637$442$105
30 years$1,677$1,202$846$585$399$89
31 years$1,606$1,137$788$537$361$76
32 years$1,539$1,076$735$494$327$64
33 years$1,476$1,019$687$454$296$55
34 years$1,417$965$642$418$268$47
35 years$1,361$916$600$385$242$40
36 years$1,309$869$561$354$220$34
37 years$1,259$825$525$326$199$29
38 years$1,213$784$492$301$180$24
39 years$1,168$746$461$277$164$21
40 years$1,127$710$432$256$148$18
41 years$1,087$676$405$236$135$15
42 years$1,049$643$380$218$122$13
43 years$1,013$613$357$201$111$11
44 years$979$584$335$186$101$9
45 years$946$557$314$171$91$8
46 years$915$532$295$158$83$7
47 years$886$507$277$146$75$6
48 years$857$484$261$135$68$5
49 years$830$462$245$125$62$4
50 years$805$442$230$116$56$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $824,000, adding $3,657 every year, while hoping to spend $31,209 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: 49/41/10 Blend
57$824,000$824,000$824,000$824,000
58$911,820$868,148$855,376$953,873
59$971,620$877,481$850,825$992,422
60$1,036,473$886,226$845,076$1,030,685
61$1,106,862$894,320$838,055$1,071,528
62$1,183,318$901,697$829,685$1,115,203
63$1,266,424$908,289$819,888$1,161,985
64$1,356,823$914,019$808,578$1,212,181
65$1,455,222$918,808$795,668$1,266,130
66$1,562,397$922,572$781,065$1,324,204
67$1,679,204$925,221$764,674$1,386,819
68$1,806,586$926,659$746,393$1,454,430
69$1,945,577$926,785$726,116$1,527,542
70$2,097,319$925,491$703,735$1,606,715
71$2,263,067$922,662$679,132$1,692,564
72$2,444,205$918,176$652,187$1,785,772
73$2,642,252$911,906$622,774$1,887,092
74$2,858,886$903,714$590,761$1,997,357
75$3,095,952$893,454$556,010$2,117,486
76$3,355,479$880,974$518,377$2,248,495
77$3,639,706$866,110$477,711$2,391,506
78$3,951,097$848,690$433,855$2,547,760
79$4,292,364$828,531$386,644$2,718,626
80$4,666,495$805,439$335,906$2,905,617
81$5,076,781$779,209$281,463$3,110,402
82$5,526,846$749,624$223,126$3,334,828
83$6,020,684$716,455$160,700$3,580,930
84$6,562,692$679,459$93,982$3,850,958
85$7,157,713$638,379$22,756$4,147,395
86$7,811,083$592,944$0$4,472,982
87$8,528,681$542,865$0$4,836,429
88$9,316,981$487,840$0$5,238,355
89$10,183,116$427,547$0$5,680,043
90$11,134,945$361,648$0$6,165,589
91$12,181,125$289,784$0$6,699,516
92$13,331,193$211,577$0$7,286,809
93$14,595,657$126,627$0$7,932,971
94$15,986,094$34,512$0$8,644,072
95$17,515,259$0$0$9,426,806
96$19,197,204$0$0$10,317,983
97$21,047,412$0$0$11,315,542
98$23,082,942$0$0$12,413,124
99$25,322,590$0$0$13,620,876
100$27,787,065$0$0$14,949,980