Can I retire at age 58 with 641,000?

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 $641,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$52,933$52,462$52,002$51,553$51,114$49,919
2 years$26,205$25,717$25,244$24,785$24,340$23,143
3 years$17,296$16,806$16,334$15,880$15,442$14,280
4 years$12,843$12,354$11,887$11,441$11,014$9,896
5 years$10,172$9,686$9,225$8,787$8,372$7,302
6 years$8,391$7,909$7,455$7,027$6,625$5,603
7 years$7,120$6,642$6,195$5,778$5,388$4,414
8 years$6,167$5,694$5,254$4,847$4,470$3,544
9 years$5,426$4,957$4,525$4,128$3,764$2,886
10 years$4,834$4,370$3,945$3,559$3,207$2,376
11 years$4,350$3,890$3,473$3,097$2,758$1,972
12 years$3,947$3,491$3,083$2,717$2,390$1,648
13 years$3,606$3,155$2,754$2,398$2,084$1,385
14 years$3,314$2,868$2,474$2,129$1,827$1,169
15 years$3,061$2,620$2,234$1,899$1,609$990
16 years$2,840$2,404$2,026$1,700$1,422$842
17 years$2,645$2,214$1,843$1,527$1,261$717
18 years$2,472$2,046$1,683$1,377$1,121$612
19 years$2,318$1,896$1,540$1,244$999$523
20 years$2,179$1,762$1,414$1,127$892$448
21 years$2,053$1,641$1,300$1,022$799$385
22 years$1,939$1,532$1,198$930$716$330
23 years$1,835$1,433$1,107$847$643$284
24 years$1,740$1,342$1,023$772$578$244
25 years$1,653$1,260$948$705$520$210
26 years$1,572$1,184$879$645$468$181
27 years$1,498$1,114$816$590$422$156
28 years$1,429$1,050$759$541$381$134
29 years$1,365$990$706$496$344$116
30 years$1,305$935$658$455$311$100
31 years$1,249$884$613$418$281$86
32 years$1,197$837$572$384$254$74
33 years$1,148$792$534$353$230$64
34 years$1,102$751$499$325$208$55
35 years$1,059$712$467$299$189$48
36 years$1,018$676$437$276$171$41
37 years$980$642$409$254$155$36
38 years$943$610$383$234$140$31
39 years$909$580$358$216$127$27
40 years$876$552$336$199$115$23
41 years$845$526$315$184$105$20
42 years$816$500$296$169$95$17
43 years$788$477$277$156$86$15
44 years$762$455$260$144$78$13
45 years$736$433$244$133$71$11
46 years$712$414$230$123$65$10
47 years$689$395$216$114$59$8
48 years$667$377$203$105$53$7
49 years$646$360$191$97$48$6
50 years$626$344$179$90$44$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $641,000, adding $5,020 every year, while hoping to spend $51,449 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: 47/40/13 Blend
57$641,000$641,000$641,000$641,000
58$711,560$677,587$667,652$742,191
59$729,398$656,048$635,277$742,350
60$747,331$631,728$600,093$736,831
61$765,314$604,439$561,951$729,698
62$783,297$573,977$520,698$720,819
63$801,222$540,130$476,170$710,055
64$819,023$502,673$428,198$697,253
65$836,626$461,367$376,605$682,251
66$853,948$415,959$321,207$664,876
67$870,894$366,185$261,811$644,941
68$887,358$311,761$198,215$622,247
69$903,222$252,391$130,209$596,579
70$918,354$187,761$57,573$567,707
71$932,603$117,538$0$535,385
72$945,803$41,373$0$502,112
73$957,770$0$0$473,541
74$968,295$0$0$459,499
75$977,148$0$0$462,760
76$984,072$0$0$464,981
77$988,780$0$0$466,012
78$990,955$0$0$465,685
79$990,244$0$0$463,819
80$986,253$0$0$460,206
81$978,549$0$0$454,621
82$966,647$0$0$446,812
83$950,012$0$0$436,500
84$928,050$0$0$423,375
85$900,104$0$0$407,096
86$865,446$0$0$387,283
87$823,268$0$0$363,517
88$772,679$0$0$335,334
89$712,692$0$0$302,221
90$642,213$0$0$263,610
91$560,036$0$0$218,873
92$464,824$0$0$167,316
93$355,102$0$0$108,174
94$229,239$0$0$40,598
95$85,433$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0