Can I retire at age 58 with 790,000?

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 $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%12.5%
1 years$65,237$64,656$64,089$63,536$62,996$62,338
2 years$32,296$31,694$31,111$30,546$29,998$29,335
3 years$21,317$20,713$20,131$19,571$19,032$18,385
4 years$15,828$15,226$14,650$14,100$13,574$12,948
5 years$12,536$11,937$11,369$10,830$10,319$9,716
6 years$10,342$9,748$9,188$8,661$8,165$7,585
7 years$8,775$8,186$7,635$7,121$6,640$6,084
8 years$7,601$7,017$6,475$5,973$5,509$4,977
9 years$6,688$6,110$5,577$5,088$4,639$4,131
10 years$5,958$5,385$4,862$4,386$3,953$3,467
11 years$5,361$4,794$4,281$3,817$3,399$2,937
12 years$4,864$4,303$3,799$3,348$2,946$2,506
13 years$4,444$3,889$3,394$2,956$2,569$2,150
14 years$4,084$3,535$3,050$2,624$2,252$1,855
15 years$3,772$3,229$2,753$2,340$1,983$1,606
16 years$3,500$2,963$2,496$2,095$1,752$1,396
17 years$3,260$2,728$2,272$1,883$1,554$1,216
18 years$3,047$2,521$2,074$1,697$1,382$1,063
19 years$2,856$2,337$1,898$1,533$1,231$931
20 years$2,685$2,171$1,742$1,388$1,100$816
21 years$2,530$2,022$1,603$1,260$984$717
22 years$2,390$1,888$1,477$1,146$882$631
23 years$2,262$1,766$1,364$1,043$792$556
24 years$2,144$1,654$1,261$952$712$490
25 years$2,037$1,553$1,168$869$641$433
26 years$1,938$1,459$1,083$795$577$382
27 years$1,846$1,373$1,006$727$520$338
28 years$1,761$1,294$935$666$469$299
29 years$1,682$1,221$870$611$424$265
30 years$1,608$1,153$811$561$383$234
31 years$1,539$1,090$756$515$346$208
32 years$1,475$1,031$705$473$313$184
33 years$1,415$977$658$435$283$163
34 years$1,358$926$615$401$257$145
35 years$1,305$878$575$369$232$128
36 years$1,255$833$538$340$211$114
37 years$1,207$791$504$313$191$101
38 years$1,163$752$472$288$173$90
39 years$1,120$715$442$266$157$80
40 years$1,080$680$414$245$142$71
41 years$1,042$648$388$226$129$63
42 years$1,006$617$364$209$117$56
43 years$971$588$342$193$106$50
44 years$939$560$321$178$97$44
45 years$907$534$301$164$88$39
46 years$878$510$283$152$80$35
47 years$849$486$266$140$72$31
48 years$822$464$250$130$66$27
49 years$796$443$235$120$60$24
50 years$771$424$221$111$54$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $790,000, adding $2,253 every year, while hoping to spend $57,957 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: 62/28/10 Blend
57$790,000$790,000$790,000$790,000
58$872,904$831,034$818,789$924,929
59$900,274$810,089$784,553$939,079
60$928,494$786,175$747,227$947,634
61$957,589$759,086$706,647$955,523
62$987,584$728,602$662,641$962,681
63$1,018,507$694,493$615,029$969,041
64$1,050,385$656,513$563,623$974,530
65$1,083,246$614,405$508,226$979,071
66$1,117,120$567,893$448,634$982,582
67$1,152,035$516,688$384,632$984,977
68$1,188,022$460,486$315,997$986,163
69$1,225,111$398,961$242,494$986,043
70$1,263,335$331,773$163,880$984,513
71$1,302,726$258,560$79,901$981,462
72$1,343,316$178,942$0$976,774
73$1,385,140$92,515$0$971,363
74$1,428,231$0$0$973,225
75$1,472,623$0$0$974,072
76$1,518,354$0$0$1,004,306
77$1,565,458$0$0$1,035,447
78$1,613,972$0$0$1,067,518
79$1,663,932$0$0$1,100,544
80$1,715,377$0$0$1,134,549
81$1,768,343$0$0$1,169,557
82$1,822,869$0$0$1,205,594
83$1,878,992$0$0$1,242,684
84$1,936,751$0$0$1,280,852
85$1,996,184$0$0$1,320,123
86$2,057,328$0$0$1,360,521
87$2,120,220$0$0$1,402,070
88$2,184,899$0$0$1,444,795
89$2,251,401$0$0$1,488,719
90$2,319,760$0$0$1,533,864
91$2,390,011$0$0$1,580,254
92$2,462,188$0$0$1,627,908
93$2,536,321$0$0$1,676,846
94$2,612,439$0$0$1,727,087
95$2,690,571$0$0$1,778,648
96$2,770,739$0$0$1,831,542
97$2,852,964$0$0$1,885,784
98$2,937,265$0$0$1,941,382
99$3,023,653$0$0$1,998,343
100$3,112,136$0$0$2,056,671