Can I retire at age 58 with 783,000?

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 $783,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$64,659$64,083$63,522$62,973$62,438$62,096
2 years$32,010$31,413$30,836$30,276$29,732$29,388
3 years$21,128$20,529$19,953$19,398$18,863$18,526
4 years$15,688$15,091$14,520$13,975$13,453$13,127
5 years$12,425$11,832$11,268$10,734$10,227$9,911
6 years$10,250$9,661$9,107$8,584$8,092$7,788
7 years$8,697$8,114$7,568$7,058$6,581$6,289
8 years$7,533$6,955$6,418$5,920$5,460$5,179
9 years$6,629$6,055$5,528$5,043$4,598$4,329
10 years$5,905$5,338$4,819$4,347$3,918$3,660
11 years$5,314$4,752$4,243$3,783$3,369$3,123
12 years$4,821$4,265$3,765$3,318$2,920$2,685
13 years$4,404$3,854$3,364$2,930$2,546$2,322
14 years$4,048$3,503$3,023$2,601$2,232$2,018
15 years$3,739$3,200$2,729$2,319$1,965$1,762
16 years$3,469$2,936$2,474$2,077$1,737$1,544
17 years$3,231$2,704$2,252$1,866$1,540$1,357
18 years$3,020$2,499$2,055$1,682$1,369$1,196
19 years$2,831$2,316$1,882$1,519$1,220$1,056
20 years$2,661$2,152$1,727$1,376$1,090$934
21 years$2,508$2,005$1,588$1,249$976$828
22 years$2,369$1,871$1,464$1,136$874$735
23 years$2,242$1,750$1,352$1,034$785$654
24 years$2,125$1,640$1,250$943$706$582
25 years$2,019$1,539$1,158$861$635$518
26 years$1,920$1,446$1,074$788$572$462
27 years$1,829$1,361$997$721$516$413
28 years$1,745$1,283$927$661$465$369
29 years$1,667$1,210$863$606$420$329
30 years$1,594$1,143$803$556$380$295
31 years$1,526$1,080$749$511$343$264
32 years$1,462$1,022$699$469$310$236
33 years$1,402$968$653$431$281$211
34 years$1,346$917$610$397$254$189
35 years$1,293$870$570$365$230$170
36 years$1,244$826$533$337$209$152
37 years$1,197$784$499$310$189$136
38 years$1,152$745$467$286$172$122
39 years$1,110$709$438$264$156$110
40 years$1,070$674$410$243$141$98
41 years$1,033$642$385$224$128$88
42 years$997$611$361$207$116$79
43 years$963$583$339$191$105$71
44 years$930$555$318$176$96$64
45 years$899$529$299$163$87$57
46 years$870$505$280$150$79$51
47 years$842$482$263$139$72$46
48 years$815$460$248$128$65$41
49 years$789$439$233$119$59$37
50 years$764$420$219$110$54$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $783,000, adding $2,276 every year, while hoping to spend $42,536 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: 40/39/21 Blend
57$783,000$783,000$783,000$783,000
58$865,214$823,715$811,578$894,360
59$908,208$818,819$793,508$910,574
60$954,161$812,257$773,407$923,878
61$1,003,331$803,904$751,162$937,406
62$1,056,000$793,624$726,655$951,199
63$1,112,477$781,276$699,762$965,310
64$1,173,100$766,709$670,355$979,799
65$1,238,242$749,763$638,297$994,735
66$1,308,311$730,270$603,449$1,010,198
67$1,383,756$708,051$565,662$1,026,281
68$1,465,069$682,915$524,781$1,043,091
69$1,552,791$654,664$480,647$1,060,748
70$1,647,517$623,084$433,090$1,079,393
71$1,749,900$587,951$381,935$1,099,182
72$1,860,658$549,028$326,997$1,120,295
73$1,980,579$506,065$268,086$1,142,937
74$2,110,532$458,796$205,000$1,167,337
75$2,251,469$406,940$137,531$1,193,757
76$2,404,441$350,202$65,460$1,222,489
77$2,570,601$288,268$0$1,253,866
78$2,751,217$220,808$0$1,290,826
79$2,947,686$147,473$0$1,347,042
80$3,161,544$67,893$0$1,408,356
81$3,394,481$0$0$1,475,353
82$3,648,358$0$0$1,556,548
83$3,925,220$0$0$1,676,962
84$4,227,321$0$0$1,808,450
85$4,557,141$0$0$1,952,104
86$4,917,410$0$0$2,109,125
87$5,311,133$0$0$2,280,836
88$5,741,617$0$0$2,468,694
89$6,212,507$0$0$2,674,302
90$6,727,813$0$0$2,899,428
91$7,291,951$0$0$3,146,015
92$7,909,786$0$0$3,416,205
93$8,586,672$0$0$3,712,358
94$9,328,508$0$0$4,037,071
95$10,141,791$0$0$4,393,206
96$11,033,674$0$0$4,783,913
97$12,012,039$0$0$5,212,665
98$13,085,563$0$0$5,683,284
99$14,263,809$0$0$6,199,982
100$15,557,306$0$0$6,767,399