Can I retire at age 58 with 645,000?

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 $645,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$53,263$52,789$52,326$51,874$51,433$50,623
2 years$26,368$25,877$25,401$24,940$24,492$23,678
3 years$17,404$16,911$16,436$15,979$15,539$14,746
4 years$12,923$12,431$11,961$11,512$11,082$10,317
5 years$10,235$9,746$9,282$8,842$8,425$7,689
6 years$8,444$7,959$7,502$7,071$6,666$5,961
7 years$7,165$6,684$6,234$5,814$5,421$4,747
8 years$6,206$5,729$5,287$4,877$4,498$3,854
9 years$5,460$4,988$4,554$4,154$3,788$3,174
10 years$4,864$4,397$3,970$3,581$3,227$2,643
11 years$4,377$3,914$3,495$3,116$2,775$2,221
12 years$3,971$3,513$3,102$2,734$2,405$1,879
13 years$3,628$3,175$2,771$2,413$2,097$1,599
14 years$3,334$2,886$2,490$2,142$1,839$1,367
15 years$3,080$2,636$2,248$1,911$1,619$1,174
16 years$2,858$2,419$2,038$1,711$1,431$1,011
17 years$2,662$2,228$1,855$1,537$1,269$873
18 years$2,488$2,058$1,693$1,385$1,128$756
19 years$2,332$1,908$1,550$1,252$1,005$655
20 years$2,192$1,773$1,422$1,134$898$569
21 years$2,066$1,651$1,308$1,029$804$495
22 years$1,951$1,541$1,206$935$720$432
23 years$1,847$1,442$1,113$852$647$376
24 years$1,751$1,351$1,030$777$581$329
25 years$1,663$1,268$954$710$523$287
26 years$1,582$1,191$885$649$471$251
27 years$1,507$1,121$821$594$425$220
28 years$1,438$1,056$764$544$383$192
29 years$1,373$997$711$499$346$168
30 years$1,313$941$662$458$313$148
31 years$1,257$890$617$421$283$129
32 years$1,204$842$576$387$256$113
33 years$1,155$797$538$355$231$99
34 years$1,109$756$502$327$210$87
35 years$1,065$717$470$301$190$77
36 years$1,024$680$439$277$172$67
37 years$986$646$411$255$156$59
38 years$949$614$385$235$141$52
39 years$915$584$361$217$128$45
40 years$882$556$338$200$116$40
41 years$851$529$317$185$105$35
42 years$821$504$297$171$96$31
43 years$793$480$279$157$87$27
44 years$766$457$262$145$79$24
45 years$741$436$246$134$72$21
46 years$717$416$231$124$65$18
47 years$693$397$217$115$59$16
48 years$671$379$204$106$54$14
49 years$650$362$192$98$49$12
50 years$630$346$180$90$44$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $645,000, adding $2,802 every year, while hoping to spend $39,979 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: 33/40/27 Blend
57$645,000$645,000$645,000$645,000
58$713,680$679,495$669,498$731,293
59$743,938$670,253$649,389$735,638
60$775,943$659,218$627,266$736,557
61$809,829$646,261$603,020$736,763
62$845,747$631,242$576,536$736,222
63$883,858$614,018$547,694$734,897
64$924,338$594,432$516,369$732,754
65$967,384$572,322$482,431$729,757
66$1,013,206$547,514$445,741$725,874
67$1,062,037$519,826$406,157$721,072
68$1,114,131$489,065$363,530$715,321
69$1,169,768$455,024$317,704$708,593
70$1,229,252$417,489$268,515$700,864
71$1,292,920$376,229$215,794$692,110
72$1,361,137$331,004$159,362$682,316
73$1,434,307$281,557$99,035$671,468
74$1,512,872$227,619$34,618$659,560
75$1,597,317$168,904$0$646,593
76$1,688,174$105,112$0$642,406
77$1,786,029$35,923$0$648,469
78$1,891,523$0$0$654,888
79$2,005,363$0$0$678,938
80$2,128,322$0$0$722,068
81$2,261,253$0$0$768,775
82$2,405,093$0$0$819,396
83$2,560,869$0$0$874,306
84$2,729,714$0$0$933,913
85$2,912,872$0$0$998,669
86$3,111,710$0$0$1,069,069
87$3,327,735$0$0$1,145,658
88$3,562,601$0$0$1,229,038
89$3,818,129$0$0$1,319,867
90$4,096,324$0$0$1,418,874
91$4,399,391$0$0$1,526,857
92$4,729,755$0$0$1,644,697
93$5,090,088$0$0$1,773,363
94$5,483,328$0$0$1,913,921
95$5,912,711$0$0$2,067,546
96$6,381,799$0$0$2,235,530
97$6,894,513$0$0$2,419,298
98$7,455,170$0$0$2,620,415
99$8,068,522$0$0$2,840,609
100$8,739,803$0$0$3,081,779