Can I retire at age 58 with 794,000?

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 $794,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$65,568$64,984$64,414$63,858$63,315$61,263
2 years$32,459$31,855$31,269$30,701$30,150$28,102
3 years$21,425$20,817$20,233$19,670$19,128$17,149
4 years$15,908$15,303$14,724$14,171$13,642$11,747
5 years$12,599$11,998$11,427$10,885$10,371$8,563
6 years$10,394$9,797$9,235$8,705$8,206$6,488
7 years$8,820$8,228$7,674$7,157$6,674$5,046
8 years$7,639$7,053$6,508$6,004$5,536$3,997
9 years$6,722$6,141$5,605$5,114$4,663$3,210
10 years$5,988$5,413$4,887$4,408$3,973$2,605
11 years$5,388$4,818$4,302$3,836$3,417$2,131
12 years$4,889$4,325$3,818$3,365$2,961$1,754
13 years$4,466$3,908$3,411$2,971$2,582$1,451
14 years$4,105$3,553$3,065$2,637$2,263$1,206
15 years$3,791$3,245$2,767$2,352$1,993$1,005
16 years$3,518$2,978$2,509$2,106$1,761$840
17 years$3,276$2,742$2,283$1,892$1,562$704
18 years$3,062$2,534$2,084$1,705$1,389$591
19 years$2,871$2,348$1,908$1,541$1,238$496
20 years$2,699$2,182$1,751$1,395$1,105$418
21 years$2,543$2,033$1,611$1,266$989$352
22 years$2,402$1,897$1,484$1,151$887$297
23 years$2,273$1,775$1,371$1,049$796$251
24 years$2,155$1,663$1,268$956$715$212
25 years$2,047$1,560$1,174$873$644$179
26 years$1,947$1,467$1,089$799$580$151
27 years$1,855$1,380$1,011$731$523$128
28 years$1,770$1,301$940$670$472$108
29 years$1,690$1,227$875$614$426$92
30 years$1,616$1,159$815$564$385$77
31 years$1,547$1,095$760$518$348$66
32 years$1,483$1,036$709$476$315$56
33 years$1,422$981$662$438$285$47
34 years$1,365$930$618$403$258$40
35 years$1,312$882$578$371$234$34
36 years$1,261$837$541$341$212$29
37 years$1,213$795$506$314$192$24
38 years$1,168$756$474$290$174$21
39 years$1,126$719$444$267$158$17
40 years$1,086$684$416$247$143$15
41 years$1,047$651$390$227$130$12
42 years$1,011$620$366$210$118$11
43 years$976$591$344$194$107$9
44 years$943$563$322$179$97$8
45 years$912$537$303$165$88$6
46 years$882$512$284$153$80$5
47 years$854$489$267$141$73$5
48 years$826$467$251$130$66$4
49 years$800$446$236$120$60$3
50 years$775$426$222$111$54$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $794,000, adding $3,057 every year, while hoping to spend $45,977 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: 51/20/29 Blend
57$794,000$794,000$794,000$794,000
58$878,141$836,059$823,752$915,604
59$918,793$828,107$802,429$934,116
60$962,049$818,224$778,850$949,397
61$1,008,129$806,268$752,892$965,120
62$1,057,269$792,085$724,425$981,347
63$1,109,730$775,517$693,312$998,152
64$1,165,797$756,393$659,414$1,015,615
65$1,225,784$734,532$622,580$1,033,832
66$1,290,034$709,743$582,656$1,052,907
67$1,358,922$681,826$539,480$1,072,963
68$1,432,862$650,565$492,882$1,094,136
69$1,512,307$615,736$442,687$1,116,580
70$1,597,754$577,099$388,708$1,140,469
71$1,689,750$534,401$330,754$1,166,000
72$1,788,893$487,375$268,623$1,193,392
73$1,895,842$435,739$202,105$1,222,895
74$2,011,321$379,194$130,979$1,254,786
75$2,136,126$317,424$55,016$1,289,378
76$2,271,130$250,096$0$1,327,020
77$2,417,293$176,859$0$1,376,164
78$2,575,672$97,340$0$1,447,879
79$2,747,428$11,147$0$1,525,692
80$2,933,837$0$0$1,610,234
81$3,136,305$0$0$1,720,277
82$3,356,375$0$0$1,842,626
83$3,595,749$0$0$1,975,781
84$3,856,294$0$0$2,120,792
85$4,140,069$0$0$2,278,814
86$4,449,338$0$0$2,451,117
87$4,786,592$0$0$2,639,102
88$5,154,574$0$0$2,844,306
89$5,556,302$0$0$3,068,427
90$5,995,100$0$0$3,313,328
91$6,474,624$0$0$3,581,065
92$6,998,902$0$0$3,873,900
93$7,572,369$0$0$4,194,321
94$8,199,906$0$0$4,545,072
95$8,886,890$0$0$4,929,172
96$9,639,239$0$0$5,349,946
97$10,463,473$0$0$5,811,056
98$11,366,772$0$0$6,316,535
99$12,357,042$0$0$6,870,824
100$13,442,991$0$0$7,478,816