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%20%
1 years$65,072$64,493$63,927$63,375$62,836$60,319
2 years$32,214$31,614$31,033$30,469$29,922$27,418
3 years$21,263$20,660$20,080$19,522$18,984$16,571
4 years$15,788$15,187$14,613$14,064$13,539$11,237
5 years$12,504$11,907$11,340$10,803$10,292$8,106
6 years$10,316$9,723$9,165$8,639$8,144$6,075
7 years$8,753$8,165$7,616$7,103$6,623$4,670
8 years$7,582$6,999$6,459$5,958$5,495$3,656
9 years$6,671$6,094$5,563$5,075$4,627$2,900
10 years$5,943$5,372$4,850$4,375$3,943$2,324
11 years$5,348$4,782$4,270$3,807$3,391$1,876
12 years$4,852$4,292$3,789$3,340$2,938$1,524
13 years$4,433$3,879$3,386$2,948$2,562$1,244
14 years$4,074$3,526$3,042$2,617$2,246$1,019
15 years$3,763$3,221$2,746$2,334$1,978$837
16 years$3,491$2,955$2,490$2,090$1,748$690
17 years$3,252$2,721$2,266$1,878$1,550$569
18 years$3,039$2,515$2,068$1,692$1,378$471
19 years$2,849$2,331$1,894$1,529$1,228$390
20 years$2,678$2,166$1,738$1,385$1,097$323
21 years$2,524$2,017$1,598$1,257$982$268
22 years$2,384$1,883$1,473$1,143$880$223
23 years$2,256$1,761$1,360$1,041$790$185
24 years$2,139$1,650$1,258$949$710$154
25 years$2,032$1,549$1,165$867$639$128
26 years$1,933$1,455$1,081$793$576$106
27 years$1,841$1,370$1,003$726$519$88
28 years$1,756$1,291$933$665$468$74
29 years$1,677$1,218$868$610$423$61
30 years$1,604$1,150$809$559$382$51
31 years$1,535$1,087$754$514$345$43
32 years$1,471$1,029$703$472$312$35
33 years$1,411$974$657$434$283$29
34 years$1,355$923$614$400$256$25
35 years$1,302$876$574$368$232$20
36 years$1,252$831$537$339$210$17
37 years$1,204$789$502$312$190$14
38 years$1,160$750$470$288$173$12
39 years$1,117$713$441$265$157$10
40 years$1,077$679$413$245$142$8
41 years$1,039$646$387$226$129$7
42 years$1,003$615$363$208$117$6
43 years$969$586$341$192$106$5
44 years$936$559$320$178$96$4
45 years$905$533$300$164$87$3
46 years$875$508$282$151$79$3
47 years$847$485$265$140$72$2
48 years$820$463$249$129$65$2
49 years$794$442$234$119$59$2
50 years$769$422$220$110$54$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $788,000, adding $4,146 every year, while hoping to spend $47,164 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: 30/43/27 Blend
57$788,000$788,000$788,000$788,000
58$872,653$830,889$818,675$891,475
59$911,481$821,420$795,918$896,997
60$952,689$809,907$770,818$898,520
61$996,470$796,199$743,247$899,216
62$1,043,035$780,137$713,071$899,047
63$1,092,614$761,554$680,149$897,974
64$1,145,461$740,270$644,334$895,959
65$1,201,853$716,098$605,474$892,967
66$1,262,092$688,837$563,407$888,963
67$1,326,512$658,276$517,968$883,915
68$1,395,476$624,193$468,980$877,793
69$1,469,386$586,349$416,262$870,574
70$1,548,678$544,495$359,622$862,235
71$1,633,836$498,367$298,861$852,761
72$1,725,385$447,686$233,772$842,142
73$1,823,907$392,155$164,136$830,378
74$1,930,038$331,463$89,727$817,473
75$2,044,478$265,280$10,308$803,445
76$2,167,993$193,258$0$788,322
77$2,301,429$115,028$0$793,591
78$2,445,714$30,203$0$802,426
79$2,601,865$0$0$812,005
80$2,771,005$0$0$851,664
81$2,954,365$0$0$910,253
82$3,153,301$0$0$973,928
83$3,369,302$0$0$1,043,179
84$3,604,007$0$0$1,118,545
85$3,859,220$0$0$1,200,621
86$4,136,925$0$0$1,290,060
87$4,439,303$0$0$1,387,581
88$4,768,757$0$0$1,493,977
89$5,127,929$0$0$1,610,119
90$5,519,729$0$0$1,736,965
91$5,947,359$0$0$1,875,571
92$6,414,342$0$0$2,027,101
93$6,924,558$0$0$2,192,834
94$7,482,279$0$0$2,374,179
95$8,092,207$0$0$2,572,688
96$8,759,519$0$0$2,790,070
97$9,489,918$0$0$3,028,206
98$10,289,681$0$0$3,289,169
99$11,165,721$0$0$3,575,241
100$12,125,651$0$0$3,888,936