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%17.5%
1 years$53,263$52,789$52,326$51,874$51,433$49,867
2 years$26,368$25,877$25,401$24,940$24,492$22,927
3 years$17,404$16,911$16,436$15,979$15,539$14,025
4 years$12,923$12,431$11,961$11,512$11,082$9,631
5 years$10,235$9,746$9,282$8,842$8,425$7,039
6 years$8,444$7,959$7,502$7,071$6,666$5,348
7 years$7,165$6,684$6,234$5,814$5,421$4,171
8 years$6,206$5,729$5,287$4,877$4,498$3,314
9 years$5,460$4,988$4,554$4,154$3,788$2,669
10 years$4,864$4,397$3,970$3,581$3,227$2,173
11 years$4,377$3,914$3,495$3,116$2,775$1,783
12 years$3,971$3,513$3,102$2,734$2,405$1,473
13 years$3,628$3,175$2,771$2,413$2,097$1,223
14 years$3,334$2,886$2,490$2,142$1,839$1,019
15 years$3,080$2,636$2,248$1,911$1,619$853
16 years$2,858$2,419$2,038$1,711$1,431$715
17 years$2,662$2,228$1,855$1,537$1,269$601
18 years$2,488$2,058$1,693$1,385$1,128$507
19 years$2,332$1,908$1,550$1,252$1,005$427
20 years$2,192$1,773$1,422$1,134$898$361
21 years$2,066$1,651$1,308$1,029$804$305
22 years$1,951$1,541$1,206$935$720$259
23 years$1,847$1,442$1,113$852$647$219
24 years$1,751$1,351$1,030$777$581$186
25 years$1,663$1,268$954$710$523$158
26 years$1,582$1,191$885$649$471$134
27 years$1,507$1,121$821$594$425$114
28 years$1,438$1,056$764$544$383$97
29 years$1,373$997$711$499$346$82
30 years$1,313$941$662$458$313$70
31 years$1,257$890$617$421$283$59
32 years$1,204$842$576$387$256$50
33 years$1,155$797$538$355$231$43
34 years$1,109$756$502$327$210$36
35 years$1,065$717$470$301$190$31
36 years$1,024$680$439$277$172$26
37 years$986$646$411$255$156$22
38 years$949$614$385$235$141$19
39 years$915$584$361$217$128$16
40 years$882$556$338$200$116$14
41 years$851$529$317$185$105$12
42 years$821$504$297$171$96$10
43 years$793$480$279$157$87$9
44 years$766$457$262$145$79$7
45 years$741$436$246$134$72$6
46 years$717$416$231$124$65$5
47 years$693$397$217$115$59$4
48 years$671$379$204$106$54$4
49 years$650$362$192$98$49$3
50 years$630$346$180$90$44$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $645,000, adding $2,938 every year, while hoping to spend $46,912 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: 53/35/12 Blend
57$645,000$645,000$645,000$645,000
58$713,821$679,636$669,638$749,263
59$736,716$663,024$642,157$757,111
60$760,375$644,026$612,183$760,355
61$784,825$622,475$579,583$762,802
62$810,096$598,195$544,218$764,387
63$836,219$571,000$505,943$765,043
64$863,227$540,692$464,605$764,697
65$891,154$507,064$420,047$763,273
66$920,035$469,893$372,102$760,691
67$949,909$428,948$320,597$756,865
68$980,814$383,981$265,352$751,706
69$1,012,794$334,733$206,178$745,120
70$1,045,891$280,927$142,877$737,007
71$1,080,153$222,274$75,245$727,262
72$1,115,628$158,465$3,065$715,774
73$1,152,369$89,176$0$702,427
74$1,190,430$14,065$0$696,569
75$1,229,870$0$0$689,634
76$1,270,750$0$0$707,019
77$1,313,136$0$0$730,667
78$1,357,097$0$0$755,201
79$1,402,709$0$0$780,661
80$1,450,049$0$0$807,095
81$1,499,202$0$0$834,549
82$1,550,258$0$0$863,075
83$1,603,313$0$0$892,727
84$1,658,469$0$0$923,566
85$1,715,838$0$0$955,652
86$1,775,537$0$0$989,055
87$1,837,693$0$0$1,023,847
88$1,902,442$0$0$1,060,106
89$1,969,930$0$0$1,097,916
90$2,040,315$0$0$1,137,367
91$2,113,768$0$0$1,178,557
92$2,190,470$0$0$1,221,591
93$2,270,621$0$0$1,266,585
94$2,354,435$0$0$1,313,659
95$2,442,141$0$0$1,362,949
96$2,533,992$0$0$1,414,598
97$2,630,259$0$0$1,468,763
98$2,731,235$0$0$1,525,614
99$2,837,240$0$0$1,585,335
100$2,948,622$0$0$1,648,128