Can I retire at age 58 with 649,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $649,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$53,594$53,116$52,651$52,196$51,752$50,297
2 years$26,532$26,037$25,559$25,094$24,644$23,189
3 years$17,512$17,016$16,538$16,078$15,635$14,226
4 years$13,003$12,508$12,035$11,583$11,151$9,799
5 years$10,299$9,807$9,340$8,897$8,477$7,185
6 years$8,496$8,008$7,548$7,115$6,707$5,477
7 years$7,209$6,725$6,273$5,850$5,455$4,286
8 years$6,244$5,765$5,320$4,907$4,525$3,417
9 years$5,494$5,019$4,582$4,180$3,811$2,763
10 years$4,895$4,424$3,994$3,603$3,247$2,257
11 years$4,404$3,939$3,517$3,136$2,793$1,859
12 years$3,996$3,535$3,121$2,750$2,420$1,542
13 years$3,651$3,195$2,788$2,428$2,110$1,285
14 years$3,355$2,904$2,505$2,156$1,850$1,076
15 years$3,099$2,653$2,262$1,922$1,629$904
16 years$2,875$2,434$2,051$1,721$1,440$761
17 years$2,678$2,241$1,866$1,547$1,276$643
18 years$2,503$2,071$1,704$1,394$1,135$544
19 years$2,346$1,920$1,560$1,259$1,012$461
20 years$2,206$1,784$1,431$1,141$904$391
21 years$2,079$1,661$1,317$1,035$809$333
22 years$1,963$1,551$1,213$941$725$283
23 years$1,858$1,451$1,120$857$651$241
24 years$1,762$1,359$1,036$782$585$205
25 years$1,673$1,275$960$714$526$175
26 years$1,592$1,199$890$653$474$149
27 years$1,516$1,128$826$598$427$127
28 years$1,446$1,063$768$547$386$109
29 years$1,382$1,003$715$502$348$93
30 years$1,321$947$666$461$315$79
31 years$1,265$895$621$423$284$68
32 years$1,212$847$579$389$257$58
33 years$1,162$802$541$358$233$49
34 years$1,116$760$505$329$211$42
35 years$1,072$721$472$303$191$36
36 years$1,031$685$442$279$173$31
37 years$992$650$414$257$157$26
38 years$955$618$387$237$142$23
39 years$920$588$363$218$129$19
40 years$887$559$340$201$117$17
41 years$856$532$319$186$106$14
42 years$826$507$299$172$96$12
43 years$798$483$281$158$87$10
44 years$771$460$264$146$79$9
45 years$745$439$247$135$72$8
46 years$721$419$232$125$65$6
47 years$698$400$218$115$59$6
48 years$675$381$205$106$54$5
49 years$654$364$193$98$49$4
50 years$634$348$181$91$44$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $649,000, adding $5,142 every year, while hoping to spend $29,783 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: 43/41/16 Blend
57$649,000$649,000$649,000$649,000
58$720,502$686,105$676,045$747,927
59$762,304$688,035$667,004$769,635
60$807,372$689,062$656,662$789,791
61$856,007$689,109$644,943$810,991
62$908,541$688,097$631,770$833,345
63$965,338$685,939$617,060$856,974
64$1,026,798$682,546$600,727$882,016
65$1,093,362$677,821$582,681$908,622
66$1,165,512$671,661$562,829$936,963
67$1,243,782$663,960$541,071$967,228
68$1,328,756$654,602$517,305$999,627
69$1,421,078$643,466$491,423$1,034,397
70$1,521,455$630,424$463,313$1,071,798
71$1,630,667$615,338$432,858$1,112,122
72$1,749,570$598,064$399,933$1,155,693
73$1,879,107$578,451$364,412$1,202,869
74$2,020,316$556,335$326,160$1,254,052
75$2,174,339$531,546$285,037$1,309,686
76$2,342,433$503,903$240,897$1,370,265
77$2,525,981$473,214$193,587$1,436,336
78$2,726,507$439,277$142,948$1,508,508
79$2,945,686$401,878$88,813$1,587,457
80$3,185,366$360,790$31,008$1,673,930
81$3,447,579$315,774$0$1,768,758
82$3,734,563$266,577$0$1,878,101
83$4,048,781$212,933$0$2,003,729
84$4,392,949$154,559$0$2,141,508
85$4,770,055$91,157$0$2,292,727
86$5,183,390$22,413$0$2,458,809
87$5,636,578$0$0$2,641,328
88$6,133,613$0$0$2,865,490
89$6,678,892$0$0$3,122,585
90$7,277,259$0$0$3,404,795
91$7,934,048$0$0$3,714,647
92$8,655,136$0$0$4,054,925
93$9,446,998$0$0$4,428,696
94$10,316,764$0$0$4,839,335
95$11,272,291$0$0$5,290,566
96$12,322,233$0$0$5,786,488
97$13,476,124$0$0$6,331,616
98$14,744,469$0$0$6,930,927
99$16,138,839$0$0$7,589,903
100$17,671,983$0$0$8,314,583