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%15.6%
1 years$64,742$64,165$63,603$63,053$62,517$61,080
2 years$32,050$31,454$30,875$30,314$29,770$28,330
3 years$21,155$20,555$19,978$19,423$18,887$17,490
4 years$15,708$15,110$14,539$13,993$13,471$12,126
5 years$12,441$11,847$11,283$10,748$10,240$8,952
6 years$10,263$9,674$9,118$8,595$8,103$6,873
7 years$8,709$8,124$7,577$7,067$6,590$5,418
8 years$7,543$6,964$6,426$5,928$5,467$4,353
9 years$6,637$6,063$5,535$5,049$4,604$3,547
10 years$5,913$5,344$4,825$4,353$3,923$2,921
11 years$5,320$4,758$4,248$3,788$3,374$2,427
12 years$4,827$4,270$3,770$3,323$2,924$2,030
13 years$4,410$3,859$3,368$2,933$2,549$1,707
14 years$4,053$3,508$3,027$2,604$2,235$1,441
15 years$3,744$3,204$2,733$2,322$1,968$1,222
16 years$3,473$2,940$2,477$2,079$1,739$1,039
17 years$3,235$2,708$2,254$1,868$1,542$886
18 years$3,024$2,502$2,058$1,684$1,371$757
19 years$2,835$2,319$1,884$1,521$1,222$648
20 years$2,665$2,155$1,729$1,378$1,092$555
21 years$2,511$2,007$1,590$1,250$977$477
22 years$2,372$1,874$1,466$1,137$876$409
23 years$2,244$1,752$1,353$1,035$786$352
24 years$2,128$1,642$1,252$944$706$303
25 years$2,021$1,541$1,159$862$636$261
26 years$1,923$1,448$1,075$789$573$225
27 years$1,832$1,363$998$722$516$194
28 years$1,747$1,284$928$661$466$167
29 years$1,669$1,211$864$606$421$144
30 years$1,596$1,144$805$557$380$125
31 years$1,528$1,082$750$511$344$108
32 years$1,464$1,023$700$470$311$93
33 years$1,404$969$653$432$281$80
34 years$1,348$919$610$397$255$69
35 years$1,295$871$571$366$231$60
36 years$1,245$827$534$337$209$52
37 years$1,198$785$500$311$189$45
38 years$1,154$746$468$286$172$39
39 years$1,112$710$438$264$156$34
40 years$1,072$675$411$243$141$29
41 years$1,034$643$385$225$128$25
42 years$998$612$361$207$116$22
43 years$964$583$339$191$106$19
44 years$932$556$318$177$96$16
45 years$901$530$299$163$87$14
46 years$871$506$281$151$79$12
47 years$843$483$264$139$72$10
48 years$816$461$248$129$65$9
49 years$790$440$233$119$59$8
50 years$765$420$219$110$54$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $784,000, adding $2,154 every year, while hoping to spend $29,482 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: 62/27/11 Blend
57$784,000$784,000$784,000$784,000
58$866,190$824,638$812,486$917,567
59$923,173$833,676$808,336$961,281
60$984,979$842,170$803,058$1,005,394
61$1,052,071$850,060$796,584$1,052,815
62$1,124,955$857,286$788,843$1,103,863
63$1,204,189$863,781$779,757$1,158,892
64$1,290,386$869,476$769,249$1,218,293
65$1,384,221$874,296$757,234$1,282,497
66$1,486,437$878,162$743,627$1,351,978
67$1,597,852$880,990$728,337$1,427,262
68$1,719,364$882,690$711,267$1,508,927
69$1,851,964$883,167$692,320$1,597,610
70$1,996,742$882,320$671,391$1,694,017
71$2,154,898$880,042$648,370$1,798,925
72$2,327,752$876,218$623,145$1,913,190
73$2,516,758$870,728$595,596$2,037,758
74$2,723,518$863,444$565,598$2,173,673
75$2,949,794$854,230$533,023$2,322,087
76$3,197,526$842,941$497,733$2,484,269
77$3,468,854$829,424$459,586$2,661,620
78$3,766,130$813,519$418,435$2,855,686
79$4,091,946$795,053$374,125$3,068,172
80$4,449,159$773,845$326,492$3,300,959
81$4,840,912$749,702$275,369$3,556,123
82$5,270,670$722,422$220,578$3,835,951
83$5,742,246$691,788$161,934$4,142,969
84$6,259,842$657,573$99,247$4,479,962
85$6,828,088$619,537$32,314$4,849,999
86$7,452,082$577,423$0$5,256,471
87$8,137,440$530,963$0$5,707,703
88$8,890,351$479,871$0$6,207,572
89$9,717,629$423,847$0$6,756,852
90$10,626,784$362,573$0$7,360,585
91$11,626,089$295,711$0$8,024,326
92$12,724,657$222,908$0$8,754,202
93$13,932,529$143,788$0$9,556,967
94$15,260,767$57,954$0$10,440,067
95$16,721,561$0$0$11,411,711
96$18,328,337$0$0$12,491,350
97$20,095,892$0$0$13,698,028
98$22,040,526$0$0$15,025,663
99$24,180,201$0$0$16,486,525
100$26,534,706$0$0$18,094,135