Can I retire at age 58 with 784,000?

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 $784,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$64,742$64,165$63,603$63,053$62,517$61,839
2 years$32,050$31,454$30,875$30,314$29,770$29,087
3 years$21,155$20,555$19,978$19,423$18,887$18,221
4 years$15,708$15,110$14,539$13,993$13,471$12,826
5 years$12,441$11,847$11,283$10,748$10,240$9,619
6 years$10,263$9,674$9,118$8,595$8,103$7,506
7 years$8,709$8,124$7,577$7,067$6,590$6,017
8 years$7,543$6,964$6,426$5,928$5,467$4,919
9 years$6,637$6,063$5,535$5,049$4,604$4,080
10 years$5,913$5,344$4,825$4,353$3,923$3,423
11 years$5,320$4,758$4,248$3,788$3,374$2,897
12 years$4,827$4,270$3,770$3,323$2,924$2,470
13 years$4,410$3,859$3,368$2,933$2,549$2,119
14 years$4,053$3,508$3,027$2,604$2,235$1,826
15 years$3,744$3,204$2,733$2,322$1,968$1,580
16 years$3,473$2,940$2,477$2,079$1,739$1,372
17 years$3,235$2,708$2,254$1,868$1,542$1,195
18 years$3,024$2,502$2,058$1,684$1,371$1,044
19 years$2,835$2,319$1,884$1,521$1,222$913
20 years$2,665$2,155$1,729$1,378$1,092$800
21 years$2,511$2,007$1,590$1,250$977$703
22 years$2,372$1,874$1,466$1,137$876$618
23 years$2,244$1,752$1,353$1,035$786$544
24 years$2,128$1,642$1,252$944$706$479
25 years$2,021$1,541$1,159$862$636$423
26 years$1,923$1,448$1,075$789$573$373
27 years$1,832$1,363$998$722$516$330
28 years$1,747$1,284$928$661$466$291
29 years$1,669$1,211$864$606$421$258
30 years$1,596$1,144$805$557$380$228
31 years$1,528$1,082$750$511$344$202
32 years$1,464$1,023$700$470$311$179
33 years$1,404$969$653$432$281$158
34 years$1,348$919$610$397$255$140
35 years$1,295$871$571$366$231$124
36 years$1,245$827$534$337$209$110
37 years$1,198$785$500$311$189$98
38 years$1,154$746$468$286$172$87
39 years$1,112$710$438$264$156$77
40 years$1,072$675$411$243$141$68
41 years$1,034$643$385$225$128$61
42 years$998$612$361$207$116$54
43 years$964$583$339$191$106$48
44 years$932$556$318$177$96$42
45 years$901$530$299$163$87$38
46 years$871$506$281$151$79$33
47 years$843$483$264$139$72$30
48 years$816$461$248$129$65$26
49 years$790$440$233$119$59$23
50 years$765$420$219$110$54$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $784,000, adding $4,948 every year, while hoping to spend $37,061 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: 57/15/28 Blend
57$784,000$784,000$784,000$784,000
58$869,072$827,520$815,368$911,678
59$918,285$828,636$803,250$942,594
60$971,275$828,564$789,484$971,977
61$1,028,389$827,208$773,976$1,003,248
62$1,090,007$824,463$756,627$1,036,599
63$1,156,547$820,221$737,333$1,072,247
64$1,228,468$814,365$715,986$1,110,430
65$1,306,274$806,771$692,474$1,151,413
66$1,390,520$797,309$666,678$1,195,489
67$1,481,816$785,841$638,475$1,242,986
68$1,580,832$772,218$607,735$1,294,262
69$1,688,306$756,286$574,323$1,349,718
70$1,805,049$737,879$538,098$1,409,796
71$1,931,952$716,823$498,913$1,474,987
72$2,069,997$692,933$456,612$1,545,834
73$2,220,263$666,014$411,036$1,622,937
74$2,383,940$635,858$362,015$1,706,961
75$2,562,333$602,247$309,374$1,798,643
76$2,756,882$564,948$252,929$1,898,797
77$2,969,171$523,718$192,489$2,008,324
78$3,200,943$478,296$127,854$2,128,221
79$3,454,116$428,409$58,814$2,259,588
80$3,730,803$373,769$0$2,403,645
81$4,033,330$314,068$0$2,566,180
82$4,364,257$248,985$0$2,763,280
83$4,726,404$178,178$0$2,979,074
84$5,122,875$101,286$0$3,215,453
85$5,557,089$17,930$0$3,474,506
86$6,032,811$0$0$3,758,532
87$6,554,186$0$0$4,082,003
88$7,125,782$0$0$4,439,944
89$7,752,627$0$0$4,832,555
90$8,440,261$0$0$5,263,314
91$9,194,785$0$0$5,736,053
92$10,022,920$0$0$6,254,991
93$10,932,067$0$0$6,824,778
94$11,930,382$0$0$7,450,533
95$13,026,848$0$0$8,137,900
96$14,231,359$0$0$8,893,090
97$15,554,817$0$0$9,722,952
98$17,009,231$0$0$10,635,027
99$18,607,832$0$0$11,637,624
100$20,365,196$0$0$12,739,897