Can I retire at age 58 with 787,000?

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 $787,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$64,990$64,411$63,846$63,295$62,756$61,165
2 years$32,173$31,574$30,993$30,430$29,884$28,291
3 years$21,236$20,634$20,055$19,497$18,960$17,415
4 years$15,768$15,168$14,595$14,046$13,522$12,037
5 years$12,488$11,892$11,326$10,789$10,279$8,859
6 years$10,303$9,711$9,153$8,628$8,134$6,779
7 years$8,742$8,155$7,606$7,094$6,615$5,326
8 years$7,572$6,990$6,451$5,951$5,488$4,264
9 years$6,662$6,086$5,556$5,069$4,621$3,462
10 years$5,935$5,365$4,844$4,369$3,938$2,841
11 years$5,341$4,776$4,264$3,803$3,387$2,351
12 years$4,846$4,287$3,785$3,335$2,935$1,958
13 years$4,427$3,874$3,381$2,945$2,559$1,640
14 years$4,068$3,521$3,038$2,614$2,243$1,380
15 years$3,758$3,217$2,743$2,331$1,975$1,165
16 years$3,487$2,951$2,487$2,087$1,746$986
17 years$3,248$2,718$2,263$1,875$1,548$837
18 years$3,035$2,512$2,066$1,690$1,376$712
19 years$2,845$2,328$1,891$1,527$1,227$607
20 years$2,675$2,163$1,736$1,383$1,096$518
21 years$2,521$2,015$1,596$1,255$981$442
22 years$2,381$1,881$1,471$1,141$879$378
23 years$2,253$1,759$1,359$1,039$789$324
24 years$2,136$1,648$1,256$948$709$277
25 years$2,029$1,547$1,164$866$638$238
26 years$1,930$1,454$1,079$792$575$204
27 years$1,839$1,368$1,002$725$518$175
28 years$1,754$1,289$932$664$468$150
29 years$1,675$1,216$867$609$422$129
30 years$1,602$1,148$808$559$382$111
31 years$1,534$1,086$753$513$345$95
32 years$1,469$1,027$702$472$312$82
33 years$1,409$973$656$434$282$70
34 years$1,353$922$613$399$256$60
35 years$1,300$875$573$367$232$52
36 years$1,250$830$536$338$210$45
37 years$1,203$788$502$312$190$38
38 years$1,158$749$470$287$172$33
39 years$1,116$712$440$265$156$28
40 years$1,076$678$413$244$142$24
41 years$1,038$645$387$225$129$21
42 years$1,002$614$363$208$117$18
43 years$968$585$340$192$106$16
44 years$935$558$320$177$96$13
45 years$904$532$300$164$87$12
46 years$874$508$282$151$79$10
47 years$846$484$265$140$72$9
48 years$819$463$249$129$65$7
49 years$793$442$234$119$59$6
50 years$768$422$220$110$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $787,000, adding $4,224 every year, while hoping to spend $56,189 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: 38/33/29 Blend
57$787,000$787,000$787,000$787,000
58$871,631$829,920$817,722$897,099
59$900,753$810,801$785,331$897,115
60$930,962$788,863$749,971$891,694
61$962,309$763,907$711,485$884,773
62$994,851$735,724$669,705$876,252
63$1,028,645$704,094$624,460$866,026
64$1,063,753$668,781$575,566$853,988
65$1,100,244$629,539$522,836$840,023
66$1,138,189$586,106$466,070$824,010
67$1,177,664$538,205$405,063$805,826
68$1,218,751$485,544$339,599$785,337
69$1,261,541$427,812$269,452$762,407
70$1,306,127$364,683$194,387$736,893
71$1,352,611$295,813$114,159$708,643
72$1,401,105$220,835$28,511$677,502
73$1,451,727$139,365$0$643,306
74$1,504,605$50,996$0$625,343
75$1,559,878$0$0$614,657
76$1,617,695$0$0$618,552
77$1,678,219$0$0$642,043
78$1,741,626$0$0$666,682
79$1,808,105$0$0$692,548
80$1,877,864$0$0$719,724
81$1,951,125$0$0$748,304
82$2,028,134$0$0$778,386
83$2,109,154$0$0$810,081
84$2,194,474$0$0$843,505
85$2,284,408$0$0$878,789
86$2,379,296$0$0$916,073
87$2,479,513$0$0$955,511
88$2,585,464$0$0$997,270
89$2,697,593$0$0$1,041,534
90$2,816,383$0$0$1,088,504
91$2,942,365$0$0$1,138,397
92$3,076,117$0$0$1,191,454
93$3,218,270$0$0$1,247,936
94$3,369,518$0$0$1,308,130
95$3,530,616$0$0$1,372,351
96$3,702,395$0$0$1,440,942
97$3,885,763$0$0$1,514,281
98$4,081,714$0$0$1,592,780
99$4,291,340$0$0$1,676,894
100$4,515,837$0$0$1,767,120