Can I retire at age 58 with 646,000?

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 $646,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$53,346$52,871$52,407$51,955$51,513$50,975
2 years$26,409$25,917$25,440$24,978$24,530$23,988
3 years$17,431$16,937$16,462$16,004$15,563$15,034
4 years$12,943$12,451$11,980$11,530$11,100$10,588
5 years$10,251$9,761$9,297$8,856$8,438$7,945
6 years$8,457$7,971$7,513$7,082$6,676$6,203
7 years$7,176$6,694$6,244$5,823$5,430$4,975
8 years$6,215$5,738$5,295$4,885$4,504$4,069
9 years$5,469$4,996$4,561$4,161$3,793$3,378
10 years$4,872$4,404$3,976$3,586$3,232$2,835
11 years$4,384$3,920$3,500$3,121$2,780$2,402
12 years$3,977$3,519$3,107$2,738$2,409$2,049
13 years$3,634$3,180$2,775$2,417$2,101$1,758
14 years$3,340$2,890$2,494$2,146$1,841$1,517
15 years$3,085$2,640$2,252$1,913$1,621$1,313
16 years$2,862$2,423$2,041$1,713$1,433$1,141
17 years$2,666$2,231$1,858$1,539$1,271$995
18 years$2,491$2,062$1,696$1,387$1,130$869
19 years$2,336$1,911$1,552$1,254$1,007$761
20 years$2,196$1,775$1,425$1,135$899$668
21 years$2,069$1,654$1,310$1,030$805$587
22 years$1,954$1,544$1,208$937$721$516
23 years$1,849$1,444$1,115$853$648$455
24 years$1,754$1,353$1,031$778$582$401
25 years$1,665$1,270$955$711$524$354
26 years$1,584$1,193$886$650$472$313
27 years$1,509$1,123$823$595$425$276
28 years$1,440$1,058$765$545$384$245
29 years$1,375$998$712$500$347$216
30 years$1,315$943$663$459$313$192
31 years$1,259$891$618$421$283$170
32 years$1,206$843$577$387$256$150
33 years$1,157$799$538$356$232$133
34 years$1,111$757$503$328$210$118
35 years$1,067$718$470$302$190$105
36 years$1,026$681$440$278$172$93
37 years$987$647$412$256$156$83
38 years$951$615$386$236$142$73
39 years$916$585$361$217$128$65
40 years$883$556$339$201$116$58
41 years$852$530$318$185$106$51
42 years$822$504$298$171$96$46
43 years$794$481$279$158$87$41
44 years$768$458$262$146$79$36
45 years$742$437$246$134$72$32
46 years$718$417$231$124$65$28
47 years$694$398$217$115$59$25
48 years$672$380$204$106$54$22
49 years$651$363$192$98$49$20
50 years$631$346$181$91$44$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $646,000, adding $3,043 every year, while hoping to spend $46,075 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: 57/36/7 Blend
57$646,000$646,000$646,000$646,000
58$715,031$680,793$670,780$754,516
59$738,941$665,128$644,228$765,774
60$763,745$647,152$615,241$772,589
61$789,486$626,702$583,692$778,878
62$816,210$603,607$549,442$784,593
63$843,965$577,685$512,349$789,687
64$872,803$548,745$472,266$794,109
65$902,779$516,583$429,037$797,806
66$933,953$480,986$382,500$800,723
67$966,387$441,726$332,485$802,802
68$1,000,151$398,562$278,816$803,982
69$1,035,317$351,243$221,307$804,200
70$1,071,964$299,499$159,766$803,392
71$1,110,178$243,047$93,991$801,488
72$1,150,048$181,589$23,772$798,418
73$1,191,675$114,808$0$794,109
74$1,235,163$42,371$0$792,308
75$1,280,628$0$0$791,256
76$1,328,194$0$0$803,406
77$1,377,996$0$0$833,716
78$1,430,179$0$0$865,490
79$1,484,900$0$0$898,828
80$1,542,332$0$0$933,835
81$1,602,660$0$0$970,628
82$1,666,086$0$0$1,009,332
83$1,732,830$0$0$1,050,085
84$1,803,131$0$0$1,093,035
85$1,877,250$0$0$1,138,346
86$1,955,471$0$0$1,186,193
87$2,038,102$0$0$1,236,770
88$2,125,482$0$0$1,290,288
89$2,217,978$0$0$1,346,978
90$2,315,994$0$0$1,407,089
91$2,419,968$0$0$1,470,897
92$2,530,381$0$0$1,538,703
93$2,647,760$0$0$1,610,835
94$2,772,678$0$0$1,687,653
95$2,905,765$0$0$1,769,550
96$3,047,711$0$0$1,856,959
97$3,199,271$0$0$1,950,350
98$3,361,271$0$0$2,050,243
99$3,534,620$0$0$2,157,205
100$3,720,310$0$0$2,271,859