Can I retire at age 58 with 789,000?

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 $789,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$65,155$64,575$64,008$63,456$62,916$61,296
2 years$32,255$31,654$31,072$30,508$29,960$28,338
3 years$21,290$20,686$20,106$19,546$19,008$17,435
4 years$15,808$15,207$14,632$14,082$13,557$12,046
5 years$12,520$11,922$11,355$10,816$10,305$8,860
6 years$10,329$9,735$9,176$8,650$8,154$6,776
7 years$8,764$8,176$7,626$7,112$6,632$5,321
8 years$7,591$7,008$6,467$5,966$5,502$4,257
9 years$6,679$6,102$5,570$5,082$4,633$3,454
10 years$5,950$5,378$4,856$4,380$3,948$2,833
11 years$5,354$4,788$4,275$3,812$3,395$2,343
12 years$4,858$4,298$3,794$3,344$2,942$1,950
13 years$4,438$3,884$3,390$2,952$2,566$1,632
14 years$4,079$3,530$3,046$2,621$2,249$1,372
15 years$3,768$3,225$2,750$2,337$1,980$1,158
16 years$3,496$2,959$2,493$2,093$1,750$979
17 years$3,256$2,725$2,269$1,880$1,552$831
18 years$3,043$2,518$2,071$1,694$1,380$706
19 years$2,853$2,334$1,896$1,531$1,230$601
20 years$2,682$2,169$1,740$1,387$1,098$513
21 years$2,527$2,020$1,600$1,258$983$438
22 years$2,387$1,885$1,475$1,144$881$374
23 years$2,259$1,763$1,362$1,042$791$320
24 years$2,142$1,652$1,260$950$711$274
25 years$2,034$1,551$1,167$868$640$235
26 years$1,935$1,457$1,082$794$576$201
27 years$1,843$1,371$1,005$726$520$172
28 years$1,759$1,292$934$666$469$148
29 years$1,680$1,219$869$610$423$127
30 years$1,606$1,151$810$560$382$109
31 years$1,537$1,088$755$514$346$93
32 years$1,473$1,030$704$473$313$80
33 years$1,413$975$658$435$283$69
34 years$1,356$924$614$400$256$59
35 years$1,303$877$574$368$232$51
36 years$1,253$832$537$339$210$44
37 years$1,206$790$503$312$191$38
38 years$1,161$751$471$288$173$32
39 years$1,119$714$441$266$157$28
40 years$1,079$680$414$245$142$24
41 years$1,041$647$388$226$129$20
42 years$1,005$616$364$209$117$18
43 years$970$587$341$193$106$15
44 years$937$560$320$178$96$13
45 years$906$534$301$164$88$11
46 years$877$509$283$152$79$10
47 years$848$486$265$140$72$8
48 years$821$464$249$129$66$7
49 years$795$443$234$120$60$6
50 years$770$423$220$111$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $789,000, adding $4,152 every year, while hoping to spend $56,899 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: 56/32/12 Blend
57$789,000$789,000$789,000$789,000
58$873,761$831,944$819,714$919,814
59$902,344$812,169$786,635$931,693
60$931,936$789,518$750,540$938,021
61$962,580$763,790$711,269$943,576
62$994,319$734,773$668,653$948,293
63$1,027,204$702,240$622,517$952,106
64$1,061,284$665,955$572,676$954,941
65$1,096,613$625,665$518,938$956,725
66$1,133,248$581,104$461,104$957,379
67$1,171,251$531,989$398,962$956,820
68$1,210,686$478,024$332,295$954,961
69$1,251,622$418,894$260,874$951,711
70$1,294,134$354,266$184,459$946,974
71$1,338,299$283,788$102,802$940,651
72$1,384,203$207,091$15,643$932,636
73$1,431,934$123,781$0$922,820
74$1,481,591$33,446$0$920,996
75$1,533,275$0$0$919,919
76$1,587,099$0$0$940,159
77$1,643,183$0$0$973,532
78$1,701,654$0$0$1,008,340
79$1,762,651$0$0$1,044,666
80$1,826,324$0$0$1,082,602
81$1,892,834$0$0$1,122,246
82$1,962,356$0$0$1,163,705
83$2,035,076$0$0$1,207,092
84$2,111,200$0$0$1,252,533
85$2,190,947$0$0$1,300,161
86$2,274,558$0$0$1,350,123
87$2,362,291$0$0$1,402,578
88$2,454,428$0$0$1,457,698
89$2,551,276$0$0$1,515,670
90$2,653,166$0$0$1,576,697
91$2,760,462$0$0$1,641,002
92$2,873,557$0$0$1,708,825
93$2,992,881$0$0$1,780,430
94$3,118,902$0$0$1,856,105
95$3,252,131$0$0$1,936,161
96$3,393,125$0$0$2,020,941
97$3,542,492$0$0$2,110,818
98$3,700,897$0$0$2,206,200
99$3,869,068$0$0$2,307,535
100$4,047,799$0$0$2,415,308