Can I retire at age 58 with 844,000?

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 $844,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$69,697$69,076$68,470$67,879$67,302$65,862
2 years$34,503$33,861$33,238$32,634$32,048$30,605
3 years$22,774$22,128$21,507$20,909$20,333$18,931
4 years$16,910$16,267$15,652$15,064$14,502$13,152
5 years$13,393$12,753$12,146$11,570$11,024$9,730
6 years$11,049$10,414$9,816$9,253$8,723$7,486
7 years$9,375$8,746$8,157$7,607$7,094$5,915
8 years$8,120$7,497$6,918$6,382$5,885$4,763
9 years$7,145$6,527$5,958$5,436$4,956$3,890
10 years$6,365$5,753$5,195$4,686$4,223$3,212
11 years$5,728$5,122$4,573$4,078$3,632$2,675
12 years$5,197$4,597$4,059$3,577$3,147$2,243
13 years$4,748$4,154$3,626$3,158$2,744$1,891
14 years$4,363$3,776$3,258$2,803$2,406$1,602
15 years$4,030$3,450$2,942$2,500$2,118$1,362
16 years$3,739$3,165$2,667$2,238$1,872$1,161
17 years$3,483$2,915$2,427$2,011$1,660$993
18 years$3,255$2,693$2,215$1,813$1,476$851
19 years$3,051$2,496$2,028$1,638$1,316$730
20 years$2,868$2,320$1,861$1,483$1,175$628
21 years$2,703$2,161$1,712$1,346$1,052$541
22 years$2,553$2,017$1,578$1,224$943$466
23 years$2,416$1,886$1,457$1,115$846$402
24 years$2,291$1,767$1,347$1,017$760$347
25 years$2,176$1,659$1,248$929$684$300
26 years$2,070$1,559$1,157$849$616$259
27 years$1,972$1,467$1,075$777$556$224
28 years$1,881$1,382$999$712$501$194
29 years$1,797$1,304$930$653$453$168
30 years$1,718$1,232$866$599$409$146
31 years$1,645$1,164$807$550$370$126
32 years$1,576$1,102$753$506$335$109
33 years$1,511$1,043$703$465$303$95
34 years$1,451$989$657$428$274$82
35 years$1,394$938$614$394$248$71
36 years$1,340$890$575$363$225$62
37 years$1,290$845$538$334$204$54
38 years$1,242$803$504$308$185$46
39 years$1,197$764$472$284$168$40
40 years$1,154$727$442$262$152$35
41 years$1,113$692$415$242$138$30
42 years$1,075$659$389$223$125$26
43 years$1,038$628$365$206$114$23
44 years$1,003$599$343$190$103$20
45 years$969$571$322$176$94$17
46 years$938$544$302$162$85$15
47 years$907$520$284$150$77$13
48 years$878$496$267$138$70$11
49 years$851$474$251$128$64$10
50 years$824$452$236$118$58$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $844,000, adding $3,484 every year, while hoping to spend $45,088 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: 53/40/7 Blend
57$844,000$844,000$844,000$844,000
58$933,682$888,950$875,868$981,421
59$980,944$884,535$857,236$1,009,744
60$1,031,516$878,393$836,469$1,035,316
61$1,085,687$870,391$813,448$1,062,051
62$1,143,776$860,389$788,047$1,090,066
63$1,206,132$848,238$760,137$1,119,494
64$1,273,137$833,782$729,581$1,150,483
65$1,345,212$816,852$696,237$1,183,197
66$1,422,819$797,273$659,956$1,217,822
67$1,506,463$774,856$620,582$1,254,564
68$1,596,703$749,405$577,952$1,293,653
69$1,694,150$720,708$531,896$1,335,346
70$1,799,475$688,545$482,237$1,379,931
71$1,913,418$652,681$428,788$1,427,727
72$2,036,791$612,866$371,357$1,479,089
73$2,170,486$568,839$309,740$1,534,416
74$2,315,485$520,322$243,726$1,594,148
75$2,472,868$467,021$173,094$1,658,777
76$2,643,822$408,627$97,614$1,728,850
77$2,829,653$344,811$17,045$1,804,975
78$3,031,798$275,226$0$1,887,828
79$3,251,838$199,509$0$1,983,309
80$3,491,511$117,271$0$2,088,796
81$3,752,733$28,105$0$2,203,961
82$4,037,610$0$0$2,329,855
83$4,348,460$0$0$2,497,757
84$4,687,836$0$0$2,694,650
85$5,058,547$0$0$2,909,803
86$5,463,686$0$0$3,145,020
87$5,906,658$0$0$3,402,290
88$6,391,211$0$0$3,683,801
89$6,921,475$0$0$3,991,962
90$7,501,994$0$0$4,329,426
91$8,137,773$0$0$4,699,115
92$8,834,325$0$0$5,104,247
93$9,597,720$0$0$5,548,367
94$10,434,643$0$0$6,035,376
95$11,352,459$0$0$6,569,574
96$12,359,276$0$0$7,155,696
97$13,464,028$0$0$7,798,957
98$14,676,554$0$0$8,505,103
99$16,007,692$0$0$9,280,460
100$17,469,381$0$0$10,132,001