Can I retire at age 58 with 788,000?

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 $788,000?

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$65,072$64,493$63,927$63,375$62,836$62,154
2 years$32,214$31,614$31,033$30,469$29,922$29,235
3 years$21,263$20,660$20,080$19,522$18,984$18,314
4 years$15,788$15,187$14,613$14,064$13,539$12,891
5 years$12,504$11,907$11,340$10,803$10,292$9,668
6 years$10,316$9,723$9,165$8,639$8,144$7,544
7 years$8,753$8,165$7,616$7,103$6,623$6,048
8 years$7,582$6,999$6,459$5,958$5,495$4,944
9 years$6,671$6,094$5,563$5,075$4,627$4,101
10 years$5,943$5,372$4,850$4,375$3,943$3,440
11 years$5,348$4,782$4,270$3,807$3,391$2,912
12 years$4,852$4,292$3,789$3,340$2,938$2,483
13 years$4,433$3,879$3,386$2,948$2,562$2,130
14 years$4,074$3,526$3,042$2,617$2,246$1,835
15 years$3,763$3,221$2,746$2,334$1,978$1,588
16 years$3,491$2,955$2,490$2,090$1,748$1,379
17 years$3,252$2,721$2,266$1,878$1,550$1,201
18 years$3,039$2,515$2,068$1,692$1,378$1,049
19 years$2,849$2,331$1,894$1,529$1,228$918
20 years$2,678$2,166$1,738$1,385$1,097$805
21 years$2,524$2,017$1,598$1,257$982$706
22 years$2,384$1,883$1,473$1,143$880$621
23 years$2,256$1,761$1,360$1,041$790$547
24 years$2,139$1,650$1,258$949$710$482
25 years$2,032$1,549$1,165$867$639$425
26 years$1,933$1,455$1,081$793$576$375
27 years$1,841$1,370$1,003$726$519$331
28 years$1,756$1,291$933$665$468$293
29 years$1,677$1,218$868$610$423$259
30 years$1,604$1,150$809$559$382$229
31 years$1,535$1,087$754$514$345$203
32 years$1,471$1,029$703$472$312$180
33 years$1,411$974$657$434$283$159
34 years$1,355$923$614$400$256$141
35 years$1,302$876$574$368$232$125
36 years$1,252$831$537$339$210$111
37 years$1,204$789$502$312$190$98
38 years$1,160$750$470$288$173$87
39 years$1,117$713$441$265$157$77
40 years$1,077$679$413$245$142$69
41 years$1,039$646$387$226$129$61
42 years$1,003$615$363$208$117$54
43 years$969$586$341$192$106$48
44 years$936$559$320$178$96$43
45 years$905$533$300$164$87$38
46 years$875$508$282$151$79$33
47 years$847$485$265$140$72$30
48 years$820$463$249$129$65$26
49 years$794$442$234$119$59$23
50 years$769$422$220$110$54$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $788,000, adding $5,101 every year, while hoping to spend $42,111 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: 36/38/26 Blend
57$788,000$788,000$788,000$788,000
58$873,638$831,874$819,660$898,105
59$917,943$827,830$802,313$912,615
60$965,356$822,176$782,973$924,065
61$1,016,149$814,790$761,529$935,602
62$1,070,622$805,540$737,866$947,263
63$1,129,102$794,288$711,861$959,089
64$1,191,948$780,886$683,387$971,131
65$1,259,557$765,180$652,310$983,447
66$1,332,363$747,004$618,493$996,107
67$1,410,840$726,184$581,789$1,009,191
68$1,495,514$702,535$542,047$1,022,792
69$1,586,959$675,861$499,108$1,037,019
70$1,685,806$645,956$452,806$1,051,994
71$1,792,750$612,600$402,967$1,067,860
72$1,908,555$575,562$349,411$1,084,778
73$2,034,060$534,597$291,948$1,102,933
74$2,170,188$489,446$230,382$1,122,536
75$2,317,953$439,835$164,506$1,143,823
76$2,478,473$385,475$94,105$1,167,067
77$2,652,973$326,059$18,954$1,192,570
78$2,842,807$261,266$0$1,220,678
79$3,049,459$190,754$0$1,268,769
80$3,274,565$114,163$0$1,327,005
81$3,519,925$31,111$0$1,390,684
82$3,787,520$0$0$1,460,431
83$4,079,529$0$0$1,561,530
84$4,398,351$0$0$1,686,221
85$4,746,629$0$0$1,822,541
86$5,127,270$0$0$1,971,642
87$5,543,476$0$0$2,134,792
88$5,998,772$0$0$2,313,388
89$6,497,038$0$0$2,508,967
90$7,042,549$0$0$2,723,223
91$7,640,010$0$0$2,958,021
92$8,294,605$0$0$3,215,415
93$9,012,040$0$0$3,497,666
94$9,798,603$0$0$3,807,268
95$10,661,217$0$0$4,146,962
96$11,607,506$0$0$4,519,774
97$12,645,870$0$0$4,929,031
98$13,785,561$0$0$5,378,403
99$15,036,770$0$0$5,871,928
100$16,410,722$0$0$6,414,059