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%13.3%
1 years$65,072$64,493$63,927$63,375$62,836$61,974
2 years$32,214$31,614$31,033$30,469$29,922$29,055
3 years$21,263$20,660$20,080$19,522$18,984$18,139
4 years$15,788$15,187$14,613$14,064$13,539$12,723
5 years$12,504$11,907$11,340$10,803$10,292$9,507
6 years$10,316$9,723$9,165$8,639$8,144$7,390
7 years$8,753$8,165$7,616$7,103$6,623$5,902
8 years$7,582$6,999$6,459$5,958$5,495$4,805
9 years$6,671$6,094$5,563$5,075$4,627$3,969
10 years$5,943$5,372$4,850$4,375$3,943$3,316
11 years$5,348$4,782$4,270$3,807$3,391$2,795
12 years$4,852$4,292$3,789$3,340$2,938$2,372
13 years$4,433$3,879$3,386$2,948$2,562$2,025
14 years$4,074$3,526$3,042$2,617$2,246$1,737
15 years$3,763$3,221$2,746$2,334$1,978$1,496
16 years$3,491$2,955$2,490$2,090$1,748$1,293
17 years$3,252$2,721$2,266$1,878$1,550$1,121
18 years$3,039$2,515$2,068$1,692$1,378$974
19 years$2,849$2,331$1,894$1,529$1,228$848
20 years$2,678$2,166$1,738$1,385$1,097$739
21 years$2,524$2,017$1,598$1,257$982$646
22 years$2,384$1,883$1,473$1,143$880$565
23 years$2,256$1,761$1,360$1,041$790$494
24 years$2,139$1,650$1,258$949$710$433
25 years$2,032$1,549$1,165$867$639$380
26 years$1,933$1,455$1,081$793$576$334
27 years$1,841$1,370$1,003$726$519$293
28 years$1,756$1,291$933$665$468$258
29 years$1,677$1,218$868$610$423$227
30 years$1,604$1,150$809$559$382$199
31 years$1,535$1,087$754$514$345$175
32 years$1,471$1,029$703$472$312$154
33 years$1,411$974$657$434$283$136
34 years$1,355$923$614$400$256$120
35 years$1,302$876$574$368$232$106
36 years$1,252$831$537$339$210$93
37 years$1,204$789$502$312$190$82
38 years$1,160$750$470$288$173$72
39 years$1,117$713$441$265$157$64
40 years$1,077$679$413$245$142$56
41 years$1,039$646$387$226$129$50
42 years$1,003$615$363$208$117$44
43 years$969$586$341$192$106$39
44 years$936$559$320$178$96$34
45 years$905$533$300$164$87$30
46 years$875$508$282$151$79$26
47 years$847$485$265$140$72$23
48 years$820$463$249$129$65$21
49 years$794$442$234$119$59$18
50 years$769$422$220$110$54$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $788,000, adding $5,351 every year, while hoping to spend $38,352 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: 43/33/24 Blend
57$788,000$788,000$788,000$788,000
58$873,896$832,132$819,918$905,160
59$922,227$832,100$806,579$927,896
60$974,202$830,781$791,507$948,418
61$1,030,153$828,072$774,605$969,891
62$1,090,444$823,862$755,769$992,424
63$1,155,473$818,035$734,892$1,016,139
64$1,225,680$810,468$711,860$1,041,174
65$1,301,548$801,029$686,555$1,067,682
66$1,383,605$789,579$658,854$1,095,837
67$1,472,435$775,971$628,628$1,125,831
68$1,568,679$760,049$595,742$1,157,880
69$1,673,040$741,647$560,056$1,192,227
70$1,786,293$720,591$521,421$1,229,140
71$1,909,291$696,695$479,684$1,268,922
72$2,042,968$669,763$434,683$1,311,909
73$2,188,358$639,588$386,252$1,358,475
74$2,346,592$605,950$334,213$1,409,039
75$2,518,920$568,617$278,385$1,464,067
76$2,706,714$527,344$218,575$1,524,075
77$2,911,485$481,870$154,583$1,589,642
78$3,134,897$431,921$86,202$1,661,409
79$3,378,779$377,208$13,212$1,740,089
80$3,645,147$317,424$0$1,826,474
81$3,936,220$252,245$0$1,938,007
82$4,254,438$181,330$0$2,063,792
83$4,602,492$104,316$0$2,201,589
84$4,983,341$20,822$0$2,352,668
85$5,400,246$0$0$2,518,435
86$5,856,796$0$0$2,725,700
87$6,356,945$0$0$2,961,138
88$6,905,046$0$0$3,219,249
89$7,505,893$0$0$3,502,304
90$8,164,768$0$0$3,812,804
91$8,887,486$0$0$4,153,502
92$9,680,453$0$0$4,527,433
93$10,550,726$0$0$4,937,938
94$11,506,077$0$0$5,388,700
95$12,555,068$0$0$5,883,772
96$13,707,130$0$0$6,427,623
97$14,972,653$0$0$7,025,173
98$16,363,082$0$0$7,681,844
99$17,891,027$0$0$8,403,609
100$19,570,377$0$0$9,197,048