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%17%
1 years$65,485$64,902$64,333$63,777$63,235$61,432
2 years$32,418$31,815$31,230$30,662$30,112$28,310
3 years$21,398$20,791$20,208$19,646$19,104$17,359
4 years$15,888$15,284$14,706$14,154$13,625$11,951
5 years$12,584$11,983$11,412$10,871$10,358$8,758
6 years$10,381$9,785$9,223$8,694$8,196$6,672
7 years$8,809$8,217$7,664$7,148$6,665$5,219
8 years$7,630$7,044$6,500$5,996$5,530$4,158
9 years$6,713$6,133$5,598$5,107$4,657$3,360
10 years$5,981$5,406$4,881$4,403$3,968$2,743
11 years$5,381$4,812$4,297$3,832$3,412$2,259
12 years$4,883$4,319$3,813$3,361$2,957$1,872
13 years$4,461$3,903$3,407$2,967$2,579$1,559
14 years$4,100$3,548$3,061$2,634$2,260$1,304
15 years$3,787$3,241$2,764$2,349$1,990$1,095
16 years$3,513$2,974$2,506$2,103$1,759$922
17 years$3,272$2,739$2,280$1,890$1,560$778
18 years$3,058$2,531$2,082$1,703$1,387$658
19 years$2,867$2,345$1,906$1,539$1,236$557
20 years$2,695$2,180$1,749$1,394$1,104$472
21 years$2,540$2,030$1,609$1,265$988$401
22 years$2,399$1,895$1,483$1,150$886$341
23 years$2,270$1,772$1,369$1,047$795$290
24 years$2,153$1,661$1,266$955$715$247
25 years$2,044$1,558$1,173$872$643$210
26 years$1,945$1,465$1,088$798$579$179
27 years$1,853$1,378$1,010$730$522$153
28 years$1,767$1,299$939$669$471$130
29 years$1,688$1,225$874$613$425$111
30 years$1,614$1,157$814$563$384$95
31 years$1,545$1,094$759$517$348$81
32 years$1,481$1,035$708$475$314$69
33 years$1,420$980$661$437$285$59
34 years$1,363$929$617$402$258$50
35 years$1,310$881$577$370$233$43
36 years$1,259$836$540$341$211$37
37 years$1,212$794$505$314$192$31
38 years$1,167$755$473$289$174$27
39 years$1,124$718$443$267$158$23
40 years$1,084$683$416$246$143$20
41 years$1,046$650$390$227$130$17
42 years$1,010$619$366$210$118$14
43 years$975$590$343$194$107$12
44 years$942$562$322$179$97$10
45 years$911$536$302$165$88$9
46 years$881$512$284$152$80$8
47 years$852$488$267$141$73$7
48 years$825$466$251$130$66$6
49 years$799$445$236$120$60$5
50 years$774$425$222$111$54$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $793,000, adding $6,913 every year, while hoping to spend $42,839 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: 62/24/14 Blend
57$793,000$793,000$793,000$793,000
58$881,017$838,988$826,696$932,216
59$925,300$834,518$808,810$962,959
60$972,665$828,393$788,889$991,011
61$1,023,379$820,487$766,820$1,020,595
62$1,077,739$810,666$742,484$1,051,864
63$1,136,068$798,788$715,756$1,084,985
64$1,198,721$784,703$686,508$1,120,143
65$1,266,088$768,251$654,603$1,157,546
66$1,338,597$749,263$619,900$1,197,424
67$1,416,717$727,561$582,251$1,240,030
68$1,500,966$702,955$541,500$1,285,648
69$1,591,911$675,246$497,487$1,334,591
70$1,690,174$644,221$450,040$1,387,209
71$1,796,440$609,656$398,985$1,443,886
72$1,911,462$571,315$344,137$1,505,051
73$2,036,068$528,946$285,302$1,571,178
74$2,171,167$482,284$222,279$1,642,793
75$2,317,760$431,050$154,860$1,720,480
76$2,476,947$374,947$82,823$1,804,884
77$2,649,939$313,662$5,941$1,896,719
78$2,838,066$246,865$0$1,996,779
79$3,042,794$174,207$0$2,117,308
80$3,265,735$95,319$0$2,249,596
81$3,508,662$9,812$0$2,393,867
82$3,773,527$0$0$2,551,351
83$4,062,478$0$0$2,745,255
84$4,377,880$0$0$2,959,792
85$4,722,335$0$0$3,194,150
86$5,098,708$0$0$3,450,285
87$5,510,155$0$0$3,730,351
88$5,960,147$0$0$4,036,720
89$6,452,510$0$0$4,372,004
90$6,991,453$0$0$4,739,078
91$7,581,613$0$0$5,141,109
92$8,228,095$0$0$5,581,585
93$8,936,524$0$0$6,064,346
94$9,713,090$0$0$6,593,622
95$10,564,616$0$0$7,174,072
96$11,498,611$0$0$7,810,826
97$12,523,351$0$0$8,509,537
98$13,647,949$0$0$9,276,429
99$14,882,443$0$0$10,118,360
100$16,237,892$0$0$11,042,884