Can I retire at age 58 with 784,000?

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 $784,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$64,742$64,165$63,603$63,053$62,517$61,710
2 years$32,050$31,454$30,875$30,314$29,770$28,958
3 years$21,155$20,555$19,978$19,423$18,887$18,096
4 years$15,708$15,110$14,539$13,993$13,471$12,706
5 years$12,441$11,847$11,283$10,748$10,240$9,504
6 years$10,263$9,674$9,118$8,595$8,103$7,396
7 years$8,709$8,124$7,577$7,067$6,590$5,913
8 years$7,543$6,964$6,426$5,928$5,467$4,820
9 years$6,637$6,063$5,535$5,049$4,604$3,986
10 years$5,913$5,344$4,825$4,353$3,923$3,334
11 years$5,320$4,758$4,248$3,788$3,374$2,813
12 years$4,827$4,270$3,770$3,323$2,924$2,391
13 years$4,410$3,859$3,368$2,933$2,549$2,044
14 years$4,053$3,508$3,027$2,604$2,235$1,756
15 years$3,744$3,204$2,733$2,322$1,968$1,514
16 years$3,473$2,940$2,477$2,079$1,739$1,311
17 years$3,235$2,708$2,254$1,868$1,542$1,137
18 years$3,024$2,502$2,058$1,684$1,371$990
19 years$2,835$2,319$1,884$1,521$1,222$863
20 years$2,665$2,155$1,729$1,378$1,092$753
21 years$2,511$2,007$1,590$1,250$977$659
22 years$2,372$1,874$1,466$1,137$876$577
23 years$2,244$1,752$1,353$1,035$786$506
24 years$2,128$1,642$1,252$944$706$444
25 years$2,021$1,541$1,159$862$636$390
26 years$1,923$1,448$1,075$789$573$343
27 years$1,832$1,363$998$722$516$302
28 years$1,747$1,284$928$661$466$266
29 years$1,669$1,211$864$606$421$234
30 years$1,596$1,144$805$557$380$206
31 years$1,528$1,082$750$511$344$182
32 years$1,464$1,023$700$470$311$160
33 years$1,404$969$653$432$281$142
34 years$1,348$919$610$397$255$125
35 years$1,295$871$571$366$231$110
36 years$1,245$827$534$337$209$97
37 years$1,198$785$500$311$189$86
38 years$1,154$746$468$286$172$76
39 years$1,112$710$438$264$156$67
40 years$1,072$675$411$243$141$59
41 years$1,034$643$385$225$128$52
42 years$998$612$361$207$116$46
43 years$964$583$339$191$106$41
44 years$932$556$318$177$96$36
45 years$901$530$299$163$87$32
46 years$871$506$281$151$79$28
47 years$843$483$264$139$72$25
48 years$816$461$248$129$65$22
49 years$790$440$233$119$59$19
50 years$765$420$219$110$54$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $784,000, adding $3,904 every year, while hoping to spend $43,940 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: 85/6/9 Blend
57$784,000$784,000$784,000$784,000
58$867,995$826,443$814,291$940,435
59$909,779$820,187$794,818$982,074
60$954,352$812,152$773,220$1,021,447
61$1,001,952$802,203$749,379$1,063,331
62$1,052,840$790,201$723,173$1,107,951
63$1,107,303$775,994$694,472$1,155,552
64$1,165,654$759,424$663,143$1,206,407
65$1,228,237$740,322$629,045$1,260,814
66$1,295,430$718,510$592,030$1,319,102
67$1,367,647$693,800$551,946$1,381,633
68$1,445,342$665,991$508,631$1,448,806
69$1,529,015$634,873$461,919$1,521,060
70$1,619,215$600,222$411,634$1,598,878
71$1,716,544$561,802$357,592$1,682,793
72$1,821,663$519,362$299,604$1,773,391
73$1,935,301$472,639$237,468$1,871,320
74$2,058,257$421,353$170,978$1,977,290
75$2,191,409$365,209$99,916$2,092,087
76$2,335,723$303,895$24,054$2,216,575
77$2,492,263$237,082$0$2,351,707
78$2,662,195$164,421$0$2,503,997
79$2,846,807$85,545$0$2,671,957
80$3,047,510$66$0$2,854,574
81$3,265,860$0$0$3,053,281
82$3,503,569$0$0$3,275,753
83$3,762,518$0$0$3,518,121
84$4,044,780$0$0$3,782,319
85$4,352,635$0$0$4,070,485
86$4,688,593$0$0$4,384,968
87$5,055,416$0$0$4,728,356
88$5,456,145$0$0$5,103,497
89$5,894,129$0$0$5,513,527
90$6,373,054$0$0$5,961,899
91$6,896,976$0$0$6,452,414
92$7,470,366$0$0$6,989,257
93$8,098,143$0$0$7,577,036
94$8,785,727$0$0$8,220,828
95$9,539,083$0$0$8,926,221
96$10,364,784$0$0$9,699,370
97$11,270,067$0$0$10,547,055
98$12,262,903$0$0$11,476,742
99$13,352,072$0$0$12,496,654
100$14,547,245$0$0$13,615,850