Can I retire at age 58 with 788,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.6%
1 years$65,072$64,493$63,927$63,375$62,836$60,655
2 years$32,214$31,614$31,033$30,469$29,922$27,747
3 years$21,263$20,660$20,080$19,522$18,984$16,883
4 years$15,788$15,187$14,613$14,064$13,539$11,530
5 years$12,504$11,907$11,340$10,803$10,292$8,379
6 years$10,316$9,723$9,165$8,639$8,144$6,328
7 years$8,753$8,165$7,616$7,103$6,623$4,904
8 years$7,582$6,999$6,459$5,958$5,495$3,871
9 years$6,671$6,094$5,563$5,075$4,627$3,097
10 years$5,943$5,372$4,850$4,375$3,943$2,504
11 years$5,348$4,782$4,270$3,807$3,391$2,040
12 years$4,852$4,292$3,789$3,340$2,938$1,673
13 years$4,433$3,879$3,386$2,948$2,562$1,378
14 years$4,074$3,526$3,042$2,617$2,246$1,140
15 years$3,763$3,221$2,746$2,334$1,978$946
16 years$3,491$2,955$2,490$2,090$1,748$788
17 years$3,252$2,721$2,266$1,878$1,550$657
18 years$3,039$2,515$2,068$1,692$1,378$549
19 years$2,849$2,331$1,894$1,529$1,228$459
20 years$2,678$2,166$1,738$1,385$1,097$385
21 years$2,524$2,017$1,598$1,257$982$323
22 years$2,384$1,883$1,473$1,143$880$271
23 years$2,256$1,761$1,360$1,041$790$228
24 years$2,139$1,650$1,258$949$710$191
25 years$2,032$1,549$1,165$867$639$161
26 years$1,933$1,455$1,081$793$576$135
27 years$1,841$1,370$1,003$726$519$114
28 years$1,756$1,291$933$665$468$96
29 years$1,677$1,218$868$610$423$81
30 years$1,604$1,150$809$559$382$68
31 years$1,535$1,087$754$514$345$57
32 years$1,471$1,029$703$472$312$48
33 years$1,411$974$657$434$283$41
34 years$1,355$923$614$400$256$34
35 years$1,302$876$574$368$232$29
36 years$1,252$831$537$339$210$24
37 years$1,204$789$502$312$190$21
38 years$1,160$750$470$288$173$17
39 years$1,117$713$441$265$157$15
40 years$1,077$679$413$245$142$12
41 years$1,039$646$387$226$129$10
42 years$1,003$615$363$208$117$9
43 years$969$586$341$192$106$7
44 years$936$559$320$178$96$6
45 years$905$533$300$164$87$5
46 years$875$508$282$151$79$4
47 years$847$485$265$140$72$4
48 years$820$463$249$129$65$3
49 years$794$442$234$119$59$3
50 years$769$422$220$110$54$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $788,000, adding $3,008 every year, while hoping to spend $39,333 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: 50/39/11 Blend
57$788,000$788,000$788,000$788,000
58$871,479$829,715$817,501$912,338
59$918,520$828,521$803,037$939,442
60$969,040$825,950$786,770$964,475
61$1,023,354$821,893$768,599$990,777
62$1,081,806$816,236$748,417$1,018,478
63$1,144,772$808,854$726,111$1,047,724
64$1,212,669$799,617$701,566$1,078,676
65$1,285,952$788,389$674,659$1,111,516
66$1,365,122$775,023$645,263$1,146,446
67$1,450,729$759,364$613,244$1,183,690
68$1,543,379$741,248$578,463$1,223,499
69$1,643,736$720,502$540,774$1,266,153
70$1,752,533$696,942$500,025$1,311,961
71$1,870,572$670,373$456,057$1,361,269
72$1,998,738$640,589$408,703$1,414,461
73$2,138,005$607,373$357,789$1,471,966
74$2,289,441$570,495$303,135$1,534,257
75$2,454,225$529,710$244,551$1,601,862
76$2,633,652$484,761$181,840$1,675,368
77$2,829,147$435,377$114,794$1,755,424
78$3,042,278$381,269$43,197$1,842,754
79$3,274,772$322,133$0$1,938,159
80$3,528,530$257,648$0$2,046,424
81$3,805,642$187,475$0$2,170,304
82$4,108,412$111,255$0$2,305,844
83$4,439,373$28,611$0$2,454,286
84$4,801,318$0$0$2,617,004
85$5,197,319$0$0$2,821,636
86$5,630,759$0$0$3,059,136
87$6,105,365$0$0$3,319,276
88$6,625,239$0$0$3,604,316
89$7,194,899$0$0$3,916,744
90$7,819,322$0$0$4,259,300
91$8,503,989$0$0$4,635,004
92$9,254,934$0$0$5,047,178
93$10,078,808$0$0$5,499,485
94$10,982,933$0$0$5,995,959
95$11,975,376$0$0$6,541,042
96$13,065,021$0$0$7,139,629
97$14,261,657$0$0$7,797,111
98$15,576,066$0$0$8,519,427
99$17,020,126$0$0$9,313,120
100$18,606,922$0$0$10,185,398