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%12.1%
1 years$53,511$53,035$52,570$52,116$51,672$51,218
2 years$26,491$25,997$25,519$25,056$24,606$24,148
3 years$17,485$16,990$16,513$16,053$15,611$15,164
4 years$12,983$12,489$12,017$11,566$11,134$10,701
5 years$10,283$9,792$9,326$8,883$8,464$8,046
6 years$8,483$7,996$7,537$7,104$6,697$6,295
7 years$7,198$6,715$6,263$5,841$5,447$5,061
8 years$6,235$5,756$5,311$4,900$4,518$4,149
9 years$5,486$5,011$4,575$4,173$3,805$3,452
10 years$4,887$4,417$3,988$3,598$3,242$2,905
11 years$4,397$3,932$3,511$3,131$2,788$2,466
12 years$3,990$3,530$3,116$2,746$2,416$2,109
13 years$3,645$3,190$2,784$2,425$2,107$1,815
14 years$3,350$2,899$2,502$2,152$1,847$1,570
15 years$3,094$2,649$2,259$1,919$1,626$1,363
16 years$2,871$2,430$2,048$1,719$1,437$1,188
17 years$2,674$2,238$1,863$1,544$1,274$1,038
18 years$2,499$2,068$1,701$1,392$1,133$909
19 years$2,343$1,917$1,557$1,257$1,010$799
20 years$2,202$1,781$1,429$1,139$902$703
21 years$2,075$1,659$1,314$1,034$807$619
22 years$1,960$1,549$1,211$940$724$546
23 years$1,855$1,448$1,119$856$650$483
24 years$1,759$1,357$1,035$781$584$427
25 years$1,671$1,273$958$713$525$378
26 years$1,589$1,197$889$652$473$335
27 years$1,514$1,126$825$597$427$297
28 years$1,444$1,061$767$547$385$264
29 years$1,379$1,001$714$501$348$234
30 years$1,319$946$665$460$314$208
31 years$1,263$894$620$423$284$185
32 years$1,210$846$578$388$257$165
33 years$1,160$801$540$357$232$146
34 years$1,114$759$505$329$210$130
35 years$1,070$720$472$302$191$116
36 years$1,029$683$441$279$173$103
37 years$990$649$413$257$157$92
38 years$954$617$387$237$142$82
39 years$919$587$362$218$129$73
40 years$886$558$340$201$117$65
41 years$855$531$319$186$106$58
42 years$825$506$299$171$96$52
43 years$797$482$280$158$87$46
44 years$770$460$263$146$79$41
45 years$744$438$247$135$72$37
46 years$720$418$232$125$65$33
47 years$697$399$218$115$59$29
48 years$674$381$205$106$54$26
49 years$653$364$193$98$49$23
50 years$633$347$181$91$44$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $648,000, adding $5,180 every year, while hoping to spend $38,974 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: 58/24/18 Blend
57$648,000$648,000$648,000$648,000
58$719,439$685,095$675,051$757,485
59$751,354$677,197$656,197$775,990
60$785,218$667,605$635,406$791,452
61$821,188$656,196$612,570$807,426
62$859,438$642,838$587,580$823,969
63$900,156$627,392$560,319$841,144
64$943,548$609,711$530,665$859,024
65$989,840$589,637$498,493$877,692
66$1,039,281$567,007$463,670$897,238
67$1,092,142$541,644$426,058$917,767
68$1,148,721$513,365$385,511$939,396
69$1,209,344$481,974$341,879$962,257
70$1,274,370$447,263$295,004$986,497
71$1,344,190$409,014$244,722$1,012,281
72$1,419,237$366,995$190,860$1,039,796
73$1,499,984$320,963$133,238$1,069,248
74$1,586,951$270,658$71,670$1,100,871
75$1,680,709$215,809$5,960$1,134,924
76$1,781,884$156,126$0$1,171,697
77$1,891,166$91,306$0$1,223,840
78$2,009,312$21,027$0$1,281,411
79$2,137,154$0$0$1,343,713
80$2,275,607$0$0$1,425,777
81$2,425,677$0$0$1,520,791
82$2,588,469$0$0$1,623,909
83$2,765,201$0$0$1,735,907
84$2,957,210$0$0$1,857,639
85$3,165,967$0$0$1,990,045
86$3,393,092$0$0$2,134,159
87$3,640,365$0$0$2,291,117
88$3,909,748$0$0$2,462,173
89$4,203,397$0$0$2,648,703
90$4,523,686$0$0$2,852,223
91$4,873,228$0$0$3,074,404
92$5,254,899$0$0$3,317,081
93$5,671,866$0$0$3,582,278
94$6,127,614$0$0$3,872,221
95$6,625,980$0$0$4,189,361
96$7,171,191$0$0$4,536,398
97$7,767,897$0$0$4,916,304
98$8,421,223$0$0$5,332,352
99$9,136,810$0$0$5,788,147
100$9,920,870$0$0$6,287,657