Can I retire at age 58 with 644,000?

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 $644,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$53,181$52,707$52,245$51,794$51,353$49,414
2 years$26,327$25,837$25,362$24,901$24,454$22,522
3 years$17,377$16,885$16,411$15,954$15,515$13,652
4 years$12,903$12,412$11,943$11,494$11,065$9,285
5 years$10,219$9,731$9,268$8,829$8,412$6,719
6 years$8,431$7,946$7,490$7,060$6,656$5,052
7 years$7,153$6,673$6,224$5,805$5,413$3,897
8 years$6,196$5,720$5,279$4,869$4,491$3,062
9 years$5,452$4,980$4,546$4,148$3,782$2,438
10 years$4,857$4,390$3,964$3,575$3,222$1,961
11 years$4,370$3,908$3,490$3,112$2,771$1,589
12 years$3,965$3,508$3,097$2,729$2,401$1,296
13 years$3,623$3,170$2,767$2,410$2,094$1,062
14 years$3,329$2,881$2,486$2,139$1,836$874
15 years$3,075$2,632$2,245$1,908$1,616$721
16 years$2,853$2,415$2,035$1,708$1,428$597
17 years$2,657$2,224$1,852$1,535$1,267$495
18 years$2,484$2,055$1,690$1,383$1,126$411
19 years$2,328$1,905$1,548$1,250$1,004$342
20 years$2,189$1,770$1,420$1,132$897$285
21 years$2,063$1,649$1,306$1,027$802$237
22 years$1,948$1,539$1,204$934$719$198
23 years$1,844$1,439$1,112$851$646$165
24 years$1,748$1,349$1,028$776$580$138
25 years$1,660$1,266$952$708$522$115
26 years$1,579$1,189$883$648$470$96
27 years$1,505$1,119$820$593$424$81
28 years$1,435$1,055$762$543$383$67
29 years$1,371$995$709$498$346$56
30 years$1,311$940$661$457$312$47
31 years$1,255$888$616$420$282$39
32 years$1,202$841$575$386$255$33
33 years$1,153$796$537$355$231$28
34 years$1,107$754$501$327$209$23
35 years$1,064$716$469$301$189$19
36 years$1,023$679$439$277$172$16
37 years$984$645$411$255$156$14
38 years$948$613$384$235$141$11
39 years$913$583$360$217$128$10
40 years$880$555$338$200$116$8
41 years$849$528$317$184$105$7
42 years$820$503$297$170$96$6
43 years$792$479$279$157$87$5
44 years$765$457$262$145$79$4
45 years$740$435$246$134$71$3
46 years$715$415$231$124$65$3
47 years$692$396$217$114$59$2
48 years$670$378$204$106$53$2
49 years$649$361$191$98$49$2
50 years$629$345$180$90$44$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $644,000, adding $4,985 every year, while hoping to spend $40,290 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: 53/26/21 Blend
57$644,000$644,000$644,000$644,000
58$714,830$680,698$670,716$748,346
59$744,874$671,184$650,317$762,417
60$776,633$659,853$627,884$773,106
61$810,238$646,575$603,306$783,881
62$845,834$631,209$576,469$794,761
63$883,579$613,608$547,250$805,774
64$923,645$593,615$515,524$816,950
65$966,221$571,067$481,159$828,325
66$1,011,513$545,787$444,015$839,942
67$1,059,747$517,590$403,949$851,851
68$1,111,171$486,281$360,811$864,112
69$1,166,055$451,653$314,442$876,791
70$1,224,695$413,487$264,679$889,966
71$1,287,417$371,551$211,349$903,728
72$1,354,578$325,601$154,273$918,179
73$1,426,568$275,379$93,265$933,436
74$1,503,817$220,612$28,128$949,634
75$1,586,795$161,010$0$966,924
76$1,676,018$96,270$0$994,752
77$1,772,055$26,070$0$1,031,369
78$1,875,528$0$0$1,070,737
79$1,987,120$0$0$1,127,442
80$2,107,584$0$0$1,196,756
81$2,237,745$0$0$1,271,701
82$2,378,511$0$0$1,352,805
83$2,530,880$0$0$1,440,651
84$2,695,947$0$0$1,535,878
85$2,874,920$0$0$1,639,189
86$3,069,123$0$0$1,751,358
87$3,280,015$0$0$1,873,234
88$3,509,200$0$0$2,005,753
89$3,758,443$0$0$2,149,945
90$4,029,684$0$0$2,306,942
91$4,325,060$0$0$2,477,991
92$4,646,922$0$0$2,664,462
93$4,997,856$0$0$2,867,865
94$5,380,709$0$0$3,089,862
95$5,798,614$0$0$3,332,281
96$6,255,022$0$0$3,597,135
97$6,753,729$0$0$3,886,641
98$7,298,917$0$0$4,203,238
99$7,895,187$0$0$4,549,613
100$8,547,608$0$0$4,928,723