Can I retire at age 58 with 648,000?

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 $648,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$53,511$53,035$52,570$52,116$51,672$50,754
2 years$26,491$25,997$25,519$25,056$24,606$23,684
3 years$17,485$16,990$16,513$16,053$15,611$14,714
4 years$12,983$12,489$12,017$11,566$11,134$10,268
5 years$10,283$9,792$9,326$8,883$8,464$7,633
6 years$8,483$7,996$7,537$7,104$6,697$5,901
7 years$7,198$6,715$6,263$5,841$5,447$4,686
8 years$6,235$5,756$5,311$4,900$4,518$3,794
9 years$5,486$5,011$4,575$4,173$3,805$3,115
10 years$4,887$4,417$3,988$3,598$3,242$2,587
11 years$4,397$3,932$3,511$3,131$2,788$2,166
12 years$3,990$3,530$3,116$2,746$2,416$1,827
13 years$3,645$3,190$2,784$2,425$2,107$1,550
14 years$3,350$2,899$2,502$2,152$1,847$1,321
15 years$3,094$2,649$2,259$1,919$1,626$1,130
16 years$2,871$2,430$2,048$1,719$1,437$969
17 years$2,674$2,238$1,863$1,544$1,274$834
18 years$2,499$2,068$1,701$1,392$1,133$719
19 years$2,343$1,917$1,557$1,257$1,010$622
20 years$2,202$1,781$1,429$1,139$902$538
21 years$2,075$1,659$1,314$1,034$807$467
22 years$1,960$1,549$1,211$940$724$405
23 years$1,855$1,448$1,119$856$650$352
24 years$1,759$1,357$1,035$781$584$306
25 years$1,671$1,273$958$713$525$266
26 years$1,589$1,197$889$652$473$232
27 years$1,514$1,126$825$597$427$202
28 years$1,444$1,061$767$547$385$176
29 years$1,379$1,001$714$501$348$154
30 years$1,319$946$665$460$314$134
31 years$1,263$894$620$423$284$117
32 years$1,210$846$578$388$257$102
33 years$1,160$801$540$357$232$89
34 years$1,114$759$505$329$210$78
35 years$1,070$720$472$302$191$68
36 years$1,029$683$441$279$173$60
37 years$990$649$413$257$157$52
38 years$954$617$387$237$142$45
39 years$919$587$362$218$129$40
40 years$886$558$340$201$117$35
41 years$855$531$319$186$106$30
42 years$825$506$299$171$96$27
43 years$797$482$280$158$87$23
44 years$770$460$263$146$79$20
45 years$744$438$247$135$72$18
46 years$720$418$232$125$65$16
47 years$697$399$218$115$59$14
48 years$674$381$205$106$54$12
49 years$653$364$193$98$49$10
50 years$633$347$181$91$44$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $648,000, adding $6,472 every year, while hoping to spend $38,710 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: 39/36/25 Blend
57$648,000$648,000$648,000$648,000
58$720,772$686,428$676,384$743,317
59$753,103$678,876$657,856$752,723
60$787,435$669,656$637,409$758,799
61$823,931$658,646$614,940$764,609
62$862,769$645,717$590,337$770,152
63$904,144$630,730$563,486$775,430
64$948,271$613,540$534,267$780,451
65$995,384$593,992$502,554$785,223
66$1,045,739$571,924$468,216$789,762
67$1,099,619$547,163$431,116$794,087
68$1,157,332$519,526$391,110$798,227
69$1,219,216$488,819$348,048$802,215
70$1,285,644$454,838$301,775$806,092
71$1,357,022$417,368$252,127$809,911
72$1,433,798$376,179$198,934$813,733
73$1,516,464$331,030$142,016$817,633
74$1,605,559$281,667$81,190$821,698
75$1,701,676$227,818$16,259$826,031
76$1,805,466$169,200$0$830,753
77$1,917,644$105,511$0$850,148
78$2,038,997$36,435$0$875,781
79$2,170,389$0$0$903,553
80$2,312,771$0$0$948,936
81$2,467,187$0$0$1,013,882
82$2,634,787$0$0$1,084,450
83$2,816,834$0$0$1,161,180
84$3,014,719$0$0$1,244,670
85$3,229,972$0$0$1,335,575
86$3,464,274$0$0$1,434,617
87$3,719,478$0$0$1,542,589
88$3,997,621$0$0$1,660,366
89$4,300,945$0$0$1,788,910
90$4,631,918$0$0$1,929,280
91$4,993,258$0$0$2,082,642
92$5,387,954$0$0$2,250,278
93$5,819,298$0$0$2,433,603
94$6,290,916$0$0$2,634,171
95$6,806,797$0$0$2,853,696
96$7,371,336$0$0$3,094,064
97$7,989,370$0$0$3,357,352
98$8,666,228$0$0$3,645,848
99$9,407,776$0$0$3,962,071
100$10,220,476$0$0$4,308,795