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%19.2%
1 years$64,659$64,083$63,522$62,973$62,438$60,127
2 years$32,010$31,413$30,836$30,276$29,732$27,430
3 years$21,128$20,529$19,953$19,398$18,863$16,642
4 years$15,688$15,091$14,520$13,975$13,453$11,331
5 years$12,425$11,832$11,268$10,734$10,227$8,208
6 years$10,250$9,661$9,107$8,584$8,092$6,178
7 years$8,697$8,114$7,568$7,058$6,581$4,772
8 years$7,533$6,955$6,418$5,920$5,460$3,753
9 years$6,629$6,055$5,528$5,043$4,598$2,992
10 years$5,905$5,338$4,819$4,347$3,918$2,410
11 years$5,314$4,752$4,243$3,783$3,369$1,956
12 years$4,821$4,265$3,765$3,318$2,920$1,597
13 years$4,404$3,854$3,364$2,930$2,546$1,311
14 years$4,048$3,503$3,023$2,601$2,232$1,080
15 years$3,739$3,200$2,729$2,319$1,965$892
16 years$3,469$2,936$2,474$2,077$1,737$739
17 years$3,231$2,704$2,252$1,866$1,540$614
18 years$3,020$2,499$2,055$1,682$1,369$511
19 years$2,831$2,316$1,882$1,519$1,220$425
20 years$2,661$2,152$1,727$1,376$1,090$355
21 years$2,508$2,005$1,588$1,249$976$296
22 years$2,369$1,871$1,464$1,136$874$247
23 years$2,242$1,750$1,352$1,034$785$207
24 years$2,125$1,640$1,250$943$706$173
25 years$2,019$1,539$1,158$861$635$145
26 years$1,920$1,446$1,074$788$572$121
27 years$1,829$1,361$997$721$516$102
28 years$1,745$1,283$927$661$465$85
29 years$1,667$1,210$863$606$420$71
30 years$1,594$1,143$803$556$380$60
31 years$1,526$1,080$749$511$343$50
32 years$1,462$1,022$699$469$310$42
33 years$1,402$968$653$431$281$35
34 years$1,346$917$610$397$254$30
35 years$1,293$870$570$365$230$25
36 years$1,244$826$533$337$209$21
37 years$1,197$784$499$310$189$17
38 years$1,152$745$467$286$172$15
39 years$1,110$709$438$264$156$12
40 years$1,070$674$410$243$141$10
41 years$1,033$642$385$224$128$9
42 years$997$611$361$207$116$7
43 years$963$583$339$191$105$6
44 years$930$555$318$176$96$5
45 years$899$529$299$163$87$4
46 years$870$505$280$150$79$4
47 years$842$482$263$139$72$3
48 years$815$460$248$128$65$3
49 years$789$439$233$119$59$2
50 years$764$420$219$110$54$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $783,000, adding $5,891 every year, while hoping to spend $58,927 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: 81/12/7 Blend
57$783,000$783,000$783,000$783,000
58$868,943$827,444$815,307$938,225
59$894,877$805,290$779,922$962,274
60$921,481$780,077$741,377$980,239
61$948,762$751,591$699,503$998,160
62$976,725$719,607$654,124$1,016,002
63$1,005,372$683,889$605,059$1,033,724
64$1,034,705$644,185$552,113$1,051,282
65$1,064,724$600,229$495,088$1,068,628
66$1,095,426$551,740$433,774$1,085,710
67$1,126,805$498,421$367,951$1,102,469
68$1,158,854$439,959$297,392$1,118,843
69$1,191,562$376,021$221,859$1,134,762
70$1,224,912$306,257$141,103$1,150,152
71$1,258,886$230,297$54,863$1,164,929
72$1,293,460$147,749$0$1,179,005
73$1,328,605$58,200$0$1,195,056
74$1,364,285$0$0$1,214,753
75$1,400,461$0$0$1,239,021
76$1,437,082$0$0$1,271,361
77$1,474,092$0$0$1,304,039
78$1,511,426$0$0$1,336,993
79$1,549,008$0$0$1,370,157
80$1,586,751$0$0$1,403,453
81$1,624,556$0$0$1,436,791
82$1,662,309$0$0$1,470,071
83$1,699,883$0$0$1,503,177
84$1,737,131$0$0$1,535,980
85$1,773,891$0$0$1,568,332
86$1,809,977$0$0$1,600,067
87$1,845,180$0$0$1,631,001
88$1,879,268$0$0$1,660,923
89$1,911,978$0$0$1,689,599
90$1,943,017$0$0$1,716,767
91$1,972,056$0$0$1,742,134
92$1,998,729$0$0$1,765,370
93$2,022,627$0$0$1,786,112
94$2,043,293$0$0$1,803,950
95$2,060,219$0$0$1,818,431
96$2,072,840$0$0$1,829,049
97$2,080,526$0$0$1,835,241
98$2,082,579$0$0$1,836,384
99$2,078,220$0$0$1,831,783
100$2,066,589$0$0$1,820,667