Can I retire at age 58 with 791,000?

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 $791,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$65,320$64,738$64,171$63,616$63,075$62,731
2 years$32,337$31,734$31,151$30,585$30,036$29,688
3 years$21,344$20,739$20,157$19,596$19,056$18,716
4 years$15,848$15,245$14,669$14,118$13,591$13,261
5 years$12,552$11,952$11,384$10,844$10,332$10,013
6 years$10,355$9,760$9,200$8,672$8,175$7,868
7 years$8,786$8,196$7,645$7,130$6,648$6,353
8 years$7,610$7,026$6,484$5,981$5,516$5,232
9 years$6,696$6,117$5,584$5,094$4,645$4,373
10 years$5,965$5,392$4,868$4,391$3,958$3,698
11 years$5,368$4,800$4,286$3,822$3,404$3,155
12 years$4,870$4,308$3,804$3,352$2,950$2,712
13 years$4,449$3,894$3,398$2,960$2,572$2,346
14 years$4,089$3,539$3,054$2,627$2,255$2,039
15 years$3,777$3,233$2,757$2,343$1,985$1,780
16 years$3,504$2,966$2,500$2,098$1,755$1,560
17 years$3,264$2,732$2,275$1,885$1,556$1,371
18 years$3,051$2,524$2,076$1,699$1,383$1,208
19 years$2,860$2,340$1,901$1,535$1,233$1,067
20 years$2,688$2,174$1,744$1,390$1,101$944
21 years$2,533$2,025$1,605$1,262$986$837
22 years$2,393$1,890$1,479$1,147$883$743
23 years$2,265$1,768$1,365$1,045$793$660
24 years$2,147$1,656$1,263$953$713$588
25 years$2,039$1,554$1,170$870$641$524
26 years$1,940$1,461$1,085$796$578$467
27 years$1,848$1,375$1,007$728$521$417
28 years$1,763$1,296$936$667$470$372
29 years$1,684$1,222$871$612$424$333
30 years$1,610$1,154$812$562$383$298
31 years$1,541$1,091$757$516$347$266
32 years$1,477$1,032$706$474$314$238
33 years$1,417$978$659$436$284$213
34 years$1,360$927$616$401$257$191
35 years$1,307$879$576$369$233$171
36 years$1,256$834$539$340$211$153
37 years$1,209$792$504$313$191$138
38 years$1,164$753$472$289$173$123
39 years$1,122$716$442$266$157$111
40 years$1,081$681$415$246$143$99
41 years$1,043$649$389$227$129$89
42 years$1,007$618$365$209$117$80
43 years$973$588$342$193$106$72
44 years$940$561$321$178$97$64
45 years$909$535$302$165$88$58
46 years$879$510$283$152$80$52
47 years$850$487$266$140$72$47
48 years$823$465$250$130$66$42
49 years$797$444$235$120$60$38
50 years$772$424$221$111$54$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $791,000, adding $3,985 every year, while hoping to spend $27,998 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: 56/36/8 Blend
57$791,000$791,000$791,000$791,000
58$875,793$833,870$821,609$922,984
59$935,334$844,939$819,343$966,346
60$1,000,010$855,613$816,063$1,010,092
61$1,070,315$865,843$811,705$1,057,056
62$1,146,792$875,574$806,203$1,107,549
63$1,230,041$884,753$799,487$1,161,914
64$1,320,719$893,320$791,483$1,220,529
65$1,419,550$901,210$782,115$1,283,809
66$1,527,331$908,357$771,303$1,352,216
67$1,644,940$914,688$758,964$1,426,256
68$1,773,343$920,126$745,008$1,506,489
69$1,913,602$924,591$729,344$1,593,533
70$2,066,888$927,994$711,876$1,688,069
71$2,234,490$930,245$692,502$1,790,849
72$2,417,825$931,244$671,118$1,902,704
73$2,618,457$930,888$647,614$2,024,549
74$2,838,104$929,066$621,873$2,157,393
75$3,078,660$925,661$593,776$2,302,352
76$3,342,213$920,547$563,197$2,460,655
77$3,631,057$913,593$530,003$2,633,660
78$3,947,724$904,658$494,057$2,822,862
79$4,295,000$893,594$455,216$3,029,914
80$4,675,953$880,243$413,328$3,256,638
81$5,093,963$864,438$368,238$3,505,043
82$5,552,753$846,002$319,780$3,777,347
83$6,056,426$824,747$267,784$4,075,996
84$6,609,497$800,476$212,071$4,403,688
85$7,216,945$772,978$152,454$4,763,400
86$7,884,250$742,030$88,738$5,158,415
87$8,617,452$707,399$20,720$5,592,355
88$9,423,205$668,834$0$6,069,213
89$10,308,838$626,073$0$6,597,824
90$11,282,426$578,837$0$7,180,794
91$12,352,866$526,833$0$7,821,732
92$13,529,959$469,748$0$8,526,570
93$14,824,504$407,255$0$9,301,846
94$16,248,399$339,007$0$10,154,773
95$17,814,754$264,636$0$11,093,301
96$19,538,010$183,754$0$12,126,198
97$21,434,083$95,954$0$13,263,130
98$23,520,505$801$0$14,514,753
99$25,816,597$0$0$15,892,819
100$28,343,646$0$0$17,450,752