Can I retire at age 58 with 647,000?

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 $647,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$53,429$52,953$52,488$52,035$51,593$50,572
2 years$26,450$25,957$25,480$25,017$24,568$23,544
3 years$17,458$16,963$16,487$16,029$15,587$14,591
4 years$12,963$12,470$11,998$11,548$11,117$10,157
5 years$10,267$9,777$9,311$8,870$8,451$7,530
6 years$8,470$7,983$7,525$7,093$6,687$5,806
7 years$7,187$6,704$6,253$5,832$5,438$4,598
8 years$6,225$5,747$5,303$4,892$4,511$3,711
9 years$5,477$5,004$4,568$4,167$3,799$3,039
10 years$4,879$4,410$3,982$3,592$3,237$2,515
11 years$4,391$3,926$3,506$3,126$2,784$2,100
12 years$3,984$3,524$3,111$2,742$2,413$1,765
13 years$3,639$3,185$2,780$2,421$2,104$1,492
14 years$3,345$2,895$2,498$2,149$1,844$1,267
15 years$3,090$2,645$2,255$1,916$1,624$1,080
16 years$2,866$2,426$2,045$1,716$1,435$924
17 years$2,670$2,235$1,860$1,542$1,272$792
18 years$2,495$2,065$1,698$1,389$1,131$681
19 years$2,339$1,914$1,555$1,255$1,008$586
20 years$2,199$1,778$1,427$1,137$901$505
21 years$2,072$1,656$1,312$1,032$806$437
22 years$1,957$1,546$1,210$938$723$377
23 years$1,852$1,446$1,117$855$649$327
24 years$1,756$1,355$1,033$779$583$283
25 years$1,668$1,271$957$712$525$245
26 years$1,587$1,195$887$651$473$213
27 years$1,512$1,125$824$596$426$185
28 years$1,442$1,060$766$546$384$160
29 years$1,377$1,000$713$501$347$139
30 years$1,317$944$664$459$314$121
31 years$1,261$893$619$422$284$105
32 years$1,208$845$577$388$257$91
33 years$1,159$800$539$357$232$80
34 years$1,112$758$504$328$210$69
35 years$1,069$719$471$302$190$60
36 years$1,028$682$441$278$172$52
37 years$989$648$412$256$156$46
38 years$952$616$386$236$142$40
39 years$917$586$362$218$129$35
40 years$885$557$339$201$117$30
41 years$853$530$318$185$106$26
42 years$824$505$298$171$96$23
43 years$796$481$280$158$87$20
44 years$769$459$263$146$79$17
45 years$743$438$247$135$72$15
46 years$719$417$232$124$65$13
47 years$696$398$218$115$59$11
48 years$673$380$205$106$54$10
49 years$652$363$192$98$49$9
50 years$632$347$181$91$44$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $647,000, adding $6,365 every year, while hoping to spend $24,519 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: 53/22/25 Blend
57$647,000$647,000$647,000$647,000
58$719,559$685,268$675,240$752,397
59$766,867$692,759$671,773$783,250
60$818,177$699,794$667,367$813,764
61$873,874$706,326$661,966$846,469
62$934,377$712,305$655,510$881,582
63$1,000,150$717,674$647,936$919,345
64$1,071,701$722,376$639,178$960,026
65$1,149,591$726,349$629,167$1,003,918
66$1,234,436$729,526$617,831$1,051,350
67$1,326,914$731,838$605,093$1,102,680
68$1,427,771$733,211$590,876$1,158,307
69$1,537,830$733,564$575,097$1,218,672
70$1,657,994$732,814$557,668$1,284,261
71$1,789,258$730,871$538,499$1,355,611
72$1,932,720$727,641$517,496$1,433,316
73$2,089,585$723,023$494,559$1,518,032
74$2,261,181$716,910$469,586$1,610,485
75$2,448,972$709,189$442,467$1,711,473
76$2,654,567$699,739$413,090$1,821,881
77$2,879,741$688,435$381,337$1,942,685
78$3,126,447$675,140$347,084$2,074,962
79$3,396,835$659,712$310,202$2,219,904
80$3,693,275$642,001$270,556$2,378,823
81$4,018,375$621,845$228,006$2,553,172
82$4,375,010$599,076$182,405$2,744,550
83$4,766,345$573,515$133,599$2,954,726
84$5,195,865$544,970$81,428$3,185,652
85$5,667,413$513,243$25,725$3,439,480
86$6,185,218$478,121$0$3,718,589
87$6,753,940$439,379$0$4,034,595
88$7,378,714$396,780$0$4,389,307
89$8,065,194$350,074$0$4,779,100
90$8,819,612$298,996$0$5,207,551
91$9,648,832$243,266$0$5,678,606
92$10,560,414$182,588$0$6,196,611
93$11,562,691$116,649$0$6,766,360
94$12,664,842$45,121$0$7,393,138
95$13,876,979$0$0$8,082,771
96$15,210,244$0$0$8,849,510
97$16,676,913$0$0$9,705,056
98$18,290,511$0$0$10,646,384
99$20,065,943$0$0$11,682,196
100$22,019,627$0$0$12,822,083