Can I retire at age 58 with 794,000?

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 $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%13.4%
1 years$65,568$64,984$64,414$63,858$63,315$62,420
2 years$32,459$31,855$31,269$30,701$30,150$29,250
3 years$21,425$20,817$20,233$19,670$19,128$18,252
4 years$15,908$15,303$14,724$14,171$13,642$12,796
5 years$12,599$11,998$11,427$10,885$10,371$9,556
6 years$10,394$9,797$9,235$8,705$8,206$7,425
7 years$8,820$8,228$7,674$7,157$6,674$5,926
8 years$7,639$7,053$6,508$6,004$5,536$4,822
9 years$6,722$6,141$5,605$5,114$4,663$3,981
10 years$5,988$5,413$4,887$4,408$3,973$3,324
11 years$5,388$4,818$4,302$3,836$3,417$2,799
12 years$4,889$4,325$3,818$3,365$2,961$2,375
13 years$4,466$3,908$3,411$2,971$2,582$2,026
14 years$4,105$3,553$3,065$2,637$2,263$1,737
15 years$3,791$3,245$2,767$2,352$1,993$1,495
16 years$3,518$2,978$2,509$2,106$1,761$1,291
17 years$3,276$2,742$2,283$1,892$1,562$1,118
18 years$3,062$2,534$2,084$1,705$1,389$971
19 years$2,871$2,348$1,908$1,541$1,238$844
20 years$2,699$2,182$1,751$1,395$1,105$736
21 years$2,543$2,033$1,611$1,266$989$642
22 years$2,402$1,897$1,484$1,151$887$561
23 years$2,273$1,775$1,371$1,049$796$491
24 years$2,155$1,663$1,268$956$715$430
25 years$2,047$1,560$1,174$873$644$377
26 years$1,947$1,467$1,089$799$580$331
27 years$1,855$1,380$1,011$731$523$290
28 years$1,770$1,301$940$670$472$255
29 years$1,690$1,227$875$614$426$224
30 years$1,616$1,159$815$564$385$197
31 years$1,547$1,095$760$518$348$173
32 years$1,483$1,036$709$476$315$152
33 years$1,422$981$662$438$285$134
34 years$1,365$930$618$403$258$118
35 years$1,312$882$578$371$234$104
36 years$1,261$837$541$341$212$91
37 years$1,213$795$506$314$192$81
38 years$1,168$756$474$290$174$71
39 years$1,126$719$444$267$158$62
40 years$1,086$684$416$247$143$55
41 years$1,047$651$390$227$130$49
42 years$1,011$620$366$210$118$43
43 years$976$591$344$194$107$38
44 years$943$563$322$179$97$33
45 years$912$537$303$165$88$29
46 years$882$512$284$153$80$26
47 years$854$489$267$141$73$23
48 years$826$467$251$130$66$20
49 years$800$446$236$120$60$18
50 years$775$426$222$111$54$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $794,000, adding $2,727 every year, while hoping to spend $48,339 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: 73/18/9 Blend
57$794,000$794,000$794,000$794,000
58$877,801$835,719$823,412$940,303
59$915,904$825,237$799,564$971,439
60$956,274$812,621$773,297$999,230
61$999,090$797,716$744,479$1,028,323
62$1,044,550$780,356$712,971$1,058,834
63$1,092,869$760,368$678,630$1,090,889
64$1,144,282$737,567$641,305$1,124,630
65$1,199,047$711,756$600,837$1,160,212
66$1,257,447$682,729$557,062$1,197,809
67$1,319,791$650,267$509,808$1,237,610
68$1,386,417$614,138$458,894$1,279,830
69$1,457,698$574,097$404,133$1,324,703
70$1,534,040$529,885$345,329$1,372,490
71$1,615,890$481,227$282,275$1,423,479
72$1,703,738$427,834$214,759$1,477,991
73$1,798,122$369,401$142,556$1,536,379
74$1,899,633$305,603$65,433$1,599,036
75$2,008,917$236,100$0$1,666,396
76$2,126,687$160,530$0$1,740,561
77$2,253,726$78,512$0$1,827,253
78$2,390,890$0$0$1,920,797
79$2,539,125$0$0$2,023,924
80$2,699,468$0$0$2,152,324
81$2,873,057$0$0$2,291,362
82$3,061,148$0$0$2,442,047
83$3,265,118$0$0$2,605,486
84$3,486,482$0$0$2,782,898
85$3,726,908$0$0$2,975,623
86$3,988,228$0$0$3,185,135
87$4,272,460$0$0$3,413,056
88$4,581,822$0$0$3,661,171
89$4,918,758$0$0$3,931,443
90$5,285,952$0$0$4,226,033
91$5,686,364$0$0$4,547,320
92$6,123,246$0$0$4,897,919
93$6,600,182$0$0$5,280,714
94$7,121,115$0$0$5,698,874
95$7,690,385$0$0$6,155,892
96$8,312,774$0$0$6,655,611
97$8,993,542$0$0$7,202,263
98$9,738,484$0$0$7,800,510
99$10,553,979$0$0$8,455,481
100$11,447,053$0$0$9,172,828