Can I retire at age 58 with 789,000?

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 $789,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$65,155$64,575$64,008$63,456$62,916$61,721
2 years$32,255$31,654$31,072$30,508$29,960$28,761
3 years$21,290$20,686$20,106$19,546$19,008$17,842
4 years$15,808$15,207$14,632$14,082$13,557$12,433
5 years$12,520$11,922$11,355$10,816$10,305$9,227
6 years$10,329$9,735$9,176$8,650$8,154$7,122
7 years$8,764$8,176$7,626$7,112$6,632$5,646
8 years$7,591$7,008$6,467$5,966$5,502$4,563
9 years$6,679$6,102$5,570$5,082$4,633$3,740
10 years$5,950$5,378$4,856$4,380$3,948$3,100
11 years$5,354$4,788$4,275$3,812$3,395$2,591
12 years$4,858$4,298$3,794$3,344$2,942$2,181
13 years$4,438$3,884$3,390$2,952$2,566$1,846
14 years$4,079$3,530$3,046$2,621$2,249$1,570
15 years$3,768$3,225$2,750$2,337$1,980$1,340
16 years$3,496$2,959$2,493$2,093$1,750$1,148
17 years$3,256$2,725$2,269$1,880$1,552$986
18 years$3,043$2,518$2,071$1,694$1,380$848
19 years$2,853$2,334$1,896$1,531$1,230$731
20 years$2,682$2,169$1,740$1,387$1,098$632
21 years$2,527$2,020$1,600$1,258$983$546
22 years$2,387$1,885$1,475$1,144$881$473
23 years$2,259$1,763$1,362$1,042$791$410
24 years$2,142$1,652$1,260$950$711$356
25 years$2,034$1,551$1,167$868$640$309
26 years$1,935$1,457$1,082$794$576$268
27 years$1,843$1,371$1,005$726$520$233
28 years$1,759$1,292$934$666$469$203
29 years$1,680$1,219$869$610$423$177
30 years$1,606$1,151$810$560$382$154
31 years$1,537$1,088$755$514$346$134
32 years$1,473$1,030$704$473$313$117
33 years$1,413$975$658$435$283$102
34 years$1,356$924$614$400$256$88
35 years$1,303$877$574$368$232$77
36 years$1,253$832$537$339$210$67
37 years$1,206$790$503$312$191$59
38 years$1,161$751$471$288$173$51
39 years$1,119$714$441$266$157$45
40 years$1,079$680$414$245$142$39
41 years$1,041$647$388$226$129$34
42 years$1,005$616$364$209$117$30
43 years$970$587$341$193$106$26
44 years$937$560$320$178$96$22
45 years$906$534$301$164$88$20
46 years$877$509$283$152$79$17
47 years$848$486$265$140$72$15
48 years$821$464$249$129$66$13
49 years$795$443$234$120$60$11
50 years$770$423$220$111$54$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $789,000, adding $6,553 every year, while hoping to spend $39,475 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: 45/49/6 Blend
57$789,000$789,000$789,000$789,000
58$876,237$834,420$822,191$913,924
59$923,613$833,306$807,733$939,455
60$974,497$830,814$791,468$962,494
61$1,029,207$826,835$773,294$986,551
62$1,088,089$821,253$753,102$1,011,731
63$1,151,526$813,946$730,783$1,038,154
64$1,219,935$804,783$706,218$1,065,952
65$1,293,777$793,626$679,284$1,095,277
66$1,373,557$780,329$649,856$1,126,295
67$1,459,832$764,736$617,797$1,159,193
68$1,553,210$746,684$582,969$1,194,183
69$1,654,364$725,998$545,225$1,231,498
70$1,764,032$702,494$504,412$1,271,400
71$1,883,024$675,978$460,372$1,314,182
72$2,012,235$646,243$412,936$1,360,170
73$2,152,645$613,071$361,931$1,409,728
74$2,305,334$576,231$307,176$1,463,262
75$2,471,491$535,479$248,479$1,521,224
76$2,652,423$490,557$185,643$1,584,117
77$2,849,568$441,193$118,460$1,652,503
78$3,064,510$387,097$46,714$1,727,005
79$3,298,991$327,966$0$1,808,315
80$3,554,929$263,477$0$1,899,118
81$3,834,436$193,291$0$2,001,674
82$4,139,834$117,048$0$2,113,957
83$4,473,683$34,369$0$2,237,041
84$4,838,799$0$0$2,372,119
85$5,238,284$0$0$2,550,243
86$5,675,554$0$0$2,765,592
87$6,154,368$0$0$3,001,495
88$6,678,869$0$0$3,260,006
89$7,253,617$0$0$3,543,383
90$7,883,634$0$0$3,854,118
91$8,574,453$0$0$4,194,951
92$9,332,166$0$0$4,568,901
93$10,163,483$0$0$4,979,295
94$11,075,798$0$0$5,429,798
95$12,077,251$0$0$5,924,444
96$13,176,811$0$0$6,467,679
97$14,384,359$0$0$7,064,401
98$15,710,777$0$0$7,720,004
99$17,168,056$0$0$8,440,433
100$18,769,402$0$0$9,232,234