Can I retire at age 58 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$71,183$70,549$69,930$69,327$68,737$66,484
2 years$35,239$34,583$33,947$33,330$32,732$30,483
3 years$23,259$22,600$21,966$21,355$20,766$18,593
4 years$17,271$16,614$15,986$15,385$14,811$12,729
5 years$13,678$13,025$12,405$11,817$11,259$9,275
6 years$11,284$10,636$10,025$9,450$8,909$7,024
7 years$9,575$8,932$8,331$7,770$7,245$5,459
8 years$8,294$7,657$7,065$6,518$6,011$4,322
9 years$7,297$6,666$6,086$5,552$5,062$3,468
10 years$6,501$5,876$5,305$4,786$4,313$2,813
11 years$5,850$5,231$4,671$4,165$3,709$2,299
12 years$5,307$4,695$4,145$3,653$3,214$1,891
13 years$4,849$4,243$3,704$3,225$2,803$1,564
14 years$4,456$3,857$3,328$2,863$2,457$1,298
15 years$4,116$3,523$3,004$2,553$2,163$1,081
16 years$3,819$3,233$2,724$2,286$1,912$903
17 years$3,557$2,977$2,479$2,054$1,695$756
18 years$3,324$2,751$2,263$1,851$1,507$634
19 years$3,117$2,550$2,071$1,673$1,344$533
20 years$2,930$2,369$1,901$1,515$1,200$448
21 years$2,761$2,207$1,749$1,375$1,074$377
22 years$2,608$2,060$1,612$1,250$963$318
23 years$2,468$1,927$1,488$1,138$864$268
24 years$2,340$1,805$1,376$1,038$777$226
25 years$2,222$1,694$1,275$948$699$191
26 years$2,114$1,592$1,182$867$630$161
27 years$2,014$1,498$1,098$794$568$136
28 years$1,921$1,412$1,020$727$512$115
29 years$1,835$1,332$950$667$462$97
30 years$1,755$1,258$885$612$418$82
31 years$1,680$1,189$825$562$378$70
32 years$1,609$1,125$769$517$342$59
33 years$1,544$1,066$718$475$309$50
34 years$1,482$1,010$671$437$280$42
35 years$1,424$958$628$402$254$36
36 years$1,369$909$587$371$230$30
37 years$1,317$863$549$341$208$26
38 years$1,269$821$515$315$189$22
39 years$1,222$780$482$290$171$18
40 years$1,178$742$452$268$155$16
41 years$1,137$707$424$247$141$13
42 years$1,097$673$397$228$128$11
43 years$1,060$641$373$210$116$9
44 years$1,024$611$350$194$105$8
45 years$990$583$329$179$96$7
46 years$958$556$309$166$87$6
47 years$927$531$290$153$79$5
48 years$897$507$273$141$72$4
49 years$869$484$256$131$65$3
50 years$842$462$241$121$59$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $862,000, adding $5,891 every year, while hoping to spend $38,588 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: 77/13/10 Blend
57$862,000$862,000$862,000$862,000
58$956,001$910,315$896,954$1,027,508
59$1,012,455$913,863$885,944$1,078,918
60$1,073,375$916,291$873,273$1,129,747
61$1,139,175$917,505$858,843$1,184,372
62$1,210,310$917,402$842,553$1,243,157
63$1,287,281$915,874$824,298$1,306,501
64$1,370,640$912,808$803,968$1,374,844
65$1,460,990$908,081$781,447$1,448,671
66$1,558,999$901,565$756,613$1,528,518
67$1,665,398$893,122$729,340$1,614,973
68$1,780,991$882,608$699,496$1,708,687
69$1,906,666$869,870$666,943$1,810,376
70$2,043,396$854,743$631,535$1,920,831
71$2,192,253$837,056$593,123$2,040,921
72$2,354,417$816,627$551,547$2,171,606
73$2,531,187$793,260$506,642$2,313,946
74$2,723,990$766,752$458,237$2,469,106
75$2,934,400$736,886$406,151$2,638,373
76$3,164,148$703,432$350,196$2,823,165
77$3,415,138$666,148$290,175$3,025,046
78$3,689,470$624,776$225,883$3,245,741
79$3,989,451$579,046$157,106$3,487,149
80$4,317,627$528,671$83,620$3,751,366
81$4,676,795$473,346$5,192$4,040,704
82$5,070,040$412,752$0$4,357,709
83$5,500,756$346,549$0$4,713,566
84$5,972,683$274,380$0$5,104,133
85$6,489,939$195,866$0$5,532,295
86$7,057,058$110,609$0$6,001,848
87$7,679,035$18,186$0$6,516,972
88$8,361,371$0$0$7,082,273
89$9,110,127$0$0$7,714,540
90$9,931,977$0$0$8,411,415
91$10,834,272$0$0$9,176,537
92$11,825,113$0$0$10,016,776
93$12,913,421$0$0$10,939,704
94$14,109,023$0$0$11,953,658
95$15,422,748$0$0$13,067,826
96$16,866,522$0$0$14,292,328
97$18,453,487$0$0$15,638,314
98$20,198,120$0$0$17,118,068
99$22,116,370$0$0$18,745,124
100$24,225,810$0$0$20,534,391