Can I retire at age 58 with 861,000?

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 $861,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$71,101$70,467$69,849$69,246$68,657$66,943
2 years$35,198$34,543$33,907$33,291$32,694$30,978
3 years$23,232$22,574$21,940$21,330$20,742$19,078
4 years$17,251$16,594$15,967$15,367$14,794$13,194
5 years$13,663$13,010$12,391$11,803$11,246$9,715
6 years$11,271$10,624$10,014$9,439$8,898$7,438
7 years$9,564$8,922$8,322$7,761$7,237$5,847
8 years$8,284$7,648$7,057$6,510$6,004$4,684
9 years$7,289$6,659$6,078$5,545$5,056$3,805
10 years$6,493$5,869$5,299$4,780$4,308$3,124
11 years$5,843$5,225$4,665$4,160$3,705$2,587
12 years$5,301$4,690$4,140$3,649$3,211$2,157
13 years$4,843$4,238$3,699$3,221$2,800$1,807
14 years$4,451$3,852$3,324$2,860$2,454$1,521
15 years$4,111$3,519$3,001$2,550$2,161$1,285
16 years$3,815$3,229$2,721$2,284$1,910$1,089
17 years$3,553$2,974$2,476$2,052$1,693$925
18 years$3,321$2,748$2,260$1,849$1,506$787
19 years$3,113$2,547$2,069$1,671$1,342$671
20 years$2,926$2,366$1,899$1,513$1,199$573
21 years$2,758$2,204$1,747$1,373$1,073$490
22 years$2,605$2,058$1,610$1,249$962$420
23 years$2,465$1,924$1,486$1,137$863$359
24 years$2,337$1,803$1,375$1,037$776$308
25 years$2,220$1,692$1,273$947$698$264
26 years$2,112$1,590$1,181$866$629$227
27 years$2,012$1,497$1,096$793$567$195
28 years$1,919$1,410$1,019$726$512$167
29 years$1,833$1,330$949$666$462$144
30 years$1,753$1,256$884$611$417$124
31 years$1,678$1,188$824$561$377$106
32 years$1,608$1,124$769$516$341$92
33 years$1,542$1,064$718$474$309$79
34 years$1,480$1,009$670$437$280$68
35 years$1,422$957$627$402$253$58
36 years$1,367$908$586$370$230$50
37 years$1,316$862$549$341$208$43
38 years$1,267$820$514$314$189$37
39 years$1,221$779$482$290$171$32
40 years$1,177$742$451$267$155$28
41 years$1,136$706$423$247$141$24
42 years$1,096$672$397$228$128$20
43 years$1,059$641$373$210$116$18
44 years$1,023$611$350$194$105$15
45 years$989$582$328$179$96$13
46 years$957$555$308$165$87$11
47 years$926$530$290$153$79$10
48 years$896$506$272$141$72$8
49 years$868$483$256$131$65$7
50 years$841$462$241$121$59$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $861,000, adding $6,167 every year, while hoping to spend $48,312 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: 71/23/6 Blend
57$861,000$861,000$861,000$861,000
58$955,183$909,550$896,205$1,021,830
59$1,001,208$902,715$874,824$1,059,817
60$1,050,309$893,925$851,108$1,094,781
61$1,102,747$883,034$824,927$1,131,702
62$1,158,812$869,887$796,146$1,170,759
63$1,218,817$854,318$764,624$1,212,150
64$1,283,111$836,154$730,213$1,256,095
65$1,352,071$815,209$692,758$1,302,837
66$1,426,115$791,287$652,098$1,352,645
67$1,505,700$764,181$608,065$1,405,816
68$1,591,327$733,671$560,481$1,462,678
69$1,683,548$699,526$509,162$1,523,596
70$1,782,967$661,500$453,916$1,588,973
71$1,890,249$619,334$394,542$1,659,252
72$2,006,125$572,751$330,829$1,734,928
73$2,131,397$521,463$262,559$1,816,543
74$2,266,947$465,162$189,502$1,904,700
75$2,413,744$403,525$111,420$2,000,065
76$2,572,856$336,207$28,062$2,103,374
77$2,745,454$262,847$0$2,215,441
78$2,932,826$183,063$0$2,341,065
79$3,136,392$96,451$0$2,479,511
80$3,357,711$2,584$0$2,630,099
81$3,598,498$0$0$2,794,063
82$3,860,643$0$0$2,997,819
83$4,146,221$0$0$3,220,543
84$4,457,520$0$0$3,463,368
85$4,797,056$0$0$3,728,262
86$5,167,598$0$0$4,017,393
87$5,572,194$0$0$4,333,143
88$6,014,200$0$0$4,678,138
89$6,497,311$0$0$5,055,267
90$7,025,593$0$0$5,467,712
91$7,603,525$0$0$5,918,977
92$8,236,038$0$0$6,412,917
93$8,928,561$0$0$6,953,780
94$9,687,074$0$0$7,546,244
95$10,518,160$0$0$8,195,460
96$11,429,072$0$0$8,907,100
97$12,427,796$0$0$9,687,411
98$13,523,128$0$0$10,543,276
99$14,724,756$0$0$11,482,273
100$16,043,352$0$0$12,512,751