Can I retire at age 58 with 793,000?

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 $793,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$65,485$64,902$64,333$63,777$63,235$62,009
2 years$32,418$31,815$31,230$30,662$30,112$28,882
3 years$21,398$20,791$20,208$19,646$19,104$17,908
4 years$15,888$15,284$14,706$14,154$13,625$12,473
5 years$12,584$11,983$11,412$10,871$10,358$9,252
6 years$10,381$9,785$9,223$8,694$8,196$7,138
7 years$8,809$8,217$7,664$7,148$6,665$5,655
8 years$7,630$7,044$6,500$5,996$5,530$4,567
9 years$6,713$6,133$5,598$5,107$4,657$3,742
10 years$5,981$5,406$4,881$4,403$3,968$3,099
11 years$5,381$4,812$4,297$3,832$3,412$2,589
12 years$4,883$4,319$3,813$3,361$2,957$2,178
13 years$4,461$3,903$3,407$2,967$2,579$1,842
14 years$4,100$3,548$3,061$2,634$2,260$1,566
15 years$3,787$3,241$2,764$2,349$1,990$1,336
16 years$3,513$2,974$2,506$2,103$1,759$1,143
17 years$3,272$2,739$2,280$1,890$1,560$981
18 years$3,058$2,531$2,082$1,703$1,387$843
19 years$2,867$2,345$1,906$1,539$1,236$727
20 years$2,695$2,180$1,749$1,394$1,104$627
21 years$2,540$2,030$1,609$1,265$988$542
22 years$2,399$1,895$1,483$1,150$886$469
23 years$2,270$1,772$1,369$1,047$795$406
24 years$2,153$1,661$1,266$955$715$352
25 years$2,044$1,558$1,173$872$643$305
26 years$1,945$1,465$1,088$798$579$265
27 years$1,853$1,378$1,010$730$522$230
28 years$1,767$1,299$939$669$471$200
29 years$1,688$1,225$874$613$425$174
30 years$1,614$1,157$814$563$384$151
31 years$1,545$1,094$759$517$348$132
32 years$1,481$1,035$708$475$314$115
33 years$1,420$980$661$437$285$100
34 years$1,363$929$617$402$258$87
35 years$1,310$881$577$370$233$76
36 years$1,259$836$540$341$211$66
37 years$1,212$794$505$314$192$57
38 years$1,167$755$473$289$174$50
39 years$1,124$718$443$267$158$44
40 years$1,084$683$416$246$143$38
41 years$1,046$650$390$227$130$33
42 years$1,010$619$366$210$118$29
43 years$975$590$343$194$107$25
44 years$942$562$322$179$97$22
45 years$911$536$302$165$88$19
46 years$881$512$284$152$80$17
47 years$852$488$267$141$73$14
48 years$825$466$251$130$66$13
49 years$799$445$236$120$60$11
50 years$774$425$222$111$54$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $793,000, adding $4,030 every year, while hoping to spend $23,711 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: 54/21/25 Blend
57$793,000$793,000$793,000$793,000
58$878,043$836,014$823,722$919,194
59$942,375$851,750$826,089$963,722
60$1,012,474$867,463$827,740$1,009,383
61$1,088,904$883,126$828,626$1,058,605
62$1,172,284$898,711$828,697$1,111,736
63$1,263,296$914,187$827,898$1,169,163
64$1,362,692$929,522$826,172$1,231,310
65$1,471,299$944,681$823,461$1,298,647
66$1,590,026$959,625$819,702$1,371,690
67$1,719,876$974,314$814,829$1,451,011
68$1,861,952$988,704$808,775$1,537,239
69$2,017,469$1,002,749$801,467$1,631,067
70$2,187,766$1,016,398$792,830$1,733,262
71$2,374,315$1,029,598$782,787$1,844,669
72$2,578,739$1,042,292$771,254$1,966,220
73$2,802,825$1,054,419$758,146$2,098,941
74$3,048,540$1,065,913$743,371$2,243,967
75$3,318,054$1,076,705$726,836$2,402,547
76$3,613,752$1,086,721$708,442$2,576,061
77$3,938,266$1,095,881$688,086$2,766,030
78$4,294,490$1,104,101$665,658$2,974,131
79$4,685,618$1,111,291$641,047$3,202,214
80$5,115,162$1,117,356$614,134$3,452,318
81$5,586,996$1,122,193$584,795$3,726,695
82$6,105,384$1,125,696$552,900$4,027,824
83$6,675,027$1,127,748$518,316$4,358,443
84$7,301,100$1,128,228$480,899$4,721,568
85$7,989,307$1,127,006$440,504$5,120,527
86$8,745,931$1,123,944$396,976$5,558,989
87$9,577,895$1,118,896$350,154$6,041,000
88$10,492,825$1,111,707$299,869$6,571,021
89$11,499,125$1,102,213$245,946$7,153,970
90$12,606,053$1,090,238$188,202$7,795,271
91$13,823,808$1,075,598$126,445$8,500,905
92$15,163,631$1,058,096$60,475$9,277,464
93$16,637,904$1,037,525$0$10,132,219
94$18,260,272$1,013,666$0$11,075,831
95$20,045,768$986,284$0$12,131,878
96$22,010,958$955,133$0$13,294,013
97$24,174,093$919,953$0$14,573,040
98$26,555,286$880,466$0$15,980,864
99$29,176,697$836,380$0$17,530,610
100$32,062,744$787,387$0$19,236,739