Can I retire at age 58 with 790,000?

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 $790,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$65,237$64,656$64,089$63,536$62,996$60,616
2 years$32,296$31,694$31,111$30,546$29,998$27,628
3 years$21,317$20,713$20,131$19,571$19,032$16,746
4 years$15,828$15,226$14,650$14,100$13,574$11,390
5 years$12,536$11,937$11,369$10,830$10,319$8,242
6 years$10,342$9,748$9,188$8,661$8,165$6,197
7 years$8,775$8,186$7,635$7,121$6,640$4,781
8 years$7,601$7,017$6,475$5,973$5,509$3,756
9 years$6,688$6,110$5,577$5,088$4,639$2,991
10 years$5,958$5,385$4,862$4,386$3,953$2,405
11 years$5,361$4,794$4,281$3,817$3,399$1,950
12 years$4,864$4,303$3,799$3,348$2,946$1,590
13 years$4,444$3,889$3,394$2,956$2,569$1,303
14 years$4,084$3,535$3,050$2,624$2,252$1,072
15 years$3,772$3,229$2,753$2,340$1,983$885
16 years$3,500$2,963$2,496$2,095$1,752$732
17 years$3,260$2,728$2,272$1,883$1,554$607
18 years$3,047$2,521$2,074$1,697$1,382$504
19 years$2,856$2,337$1,898$1,533$1,231$419
20 years$2,685$2,171$1,742$1,388$1,100$349
21 years$2,530$2,022$1,603$1,260$984$291
22 years$2,390$1,888$1,477$1,146$882$243
23 years$2,262$1,766$1,364$1,043$792$203
24 years$2,144$1,654$1,261$952$712$169
25 years$2,037$1,553$1,168$869$641$141
26 years$1,938$1,459$1,083$795$577$118
27 years$1,846$1,373$1,006$727$520$99
28 years$1,761$1,294$935$666$469$83
29 years$1,682$1,221$870$611$424$69
30 years$1,608$1,153$811$561$383$58
31 years$1,539$1,090$756$515$346$48
32 years$1,475$1,031$705$473$313$41
33 years$1,415$977$658$435$283$34
34 years$1,358$926$615$401$257$28
35 years$1,305$878$575$369$232$24
36 years$1,255$833$538$340$211$20
37 years$1,207$791$504$313$191$17
38 years$1,163$752$472$288$173$14
39 years$1,120$715$442$266$157$12
40 years$1,080$680$414$245$142$10
41 years$1,042$648$388$226$129$8
42 years$1,006$617$364$209$117$7
43 years$971$588$342$193$106$6
44 years$939$560$321$178$97$5
45 years$907$534$301$164$88$4
46 years$878$510$283$152$80$3
47 years$849$486$266$140$72$3
48 years$822$464$250$130$66$2
49 years$796$443$235$120$60$2
50 years$771$424$221$111$54$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $790,000, adding $5,985 every year, while hoping to spend $45,644 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: 69/23/8 Blend
57$790,000$790,000$790,000$790,000
58$876,754$834,884$822,639$935,593
59$917,618$827,228$801,632$967,698
60$961,120$817,667$778,392$996,677
61$1,007,481$806,061$752,796$1,027,146
62$1,056,944$792,257$724,714$1,059,241
63$1,109,773$776,098$694,013$1,093,116
64$1,166,259$757,416$660,551$1,128,939
65$1,226,720$736,032$624,182$1,166,896
66$1,291,505$711,757$584,752$1,207,196
67$1,360,998$684,393$542,100$1,250,068
68$1,435,618$653,726$496,059$1,295,768
69$1,515,827$619,535$446,453$1,344,577
70$1,602,132$581,582$393,099$1,396,809
71$1,695,087$539,618$335,806$1,452,811
72$1,795,305$493,378$274,375$1,512,966
73$1,903,455$442,583$208,595$1,577,700
74$2,020,276$386,938$138,251$1,647,486
75$2,146,576$326,129$63,114$1,722,843
76$2,283,245$259,829$0$1,804,352
77$2,431,264$187,687$0$1,894,108
78$2,591,706$109,338$0$1,997,206
79$2,765,756$24,392$0$2,109,060
80$2,954,715$0$0$2,230,559
81$3,160,013$0$0$2,379,787
82$3,383,225$0$0$2,548,788
83$3,626,083$0$0$2,732,704
84$3,890,492$0$0$2,932,984
85$4,178,549$0$0$3,151,221
86$4,492,561$0$0$3,389,168
87$4,835,068$0$0$3,648,757
88$5,208,866$0$0$3,932,112
89$5,617,030$0$0$4,241,570
90$6,062,948$0$0$4,579,708
91$6,550,349$0$0$4,949,359
92$7,083,337$0$0$5,353,644
93$7,666,433$0$0$5,795,999
94$8,304,614$0$0$6,280,206
95$9,003,360$0$0$6,810,433
96$9,768,705$0$0$7,391,267
97$10,607,296$0$0$8,027,760
98$11,526,453$0$0$8,725,477
99$12,534,235$0$0$9,490,546
100$13,639,522$0$0$10,329,716