Can I retire at age 58 with 650,000?

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 $650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$53,676$53,198$52,732$52,276$51,832$51,462
2 years$26,572$26,078$25,598$25,133$24,682$24,309
3 years$17,539$17,042$16,564$16,103$15,659$15,295
4 years$13,023$12,528$12,054$11,601$11,168$10,815
5 years$10,314$9,822$9,354$8,911$8,490$8,149
6 years$8,509$8,020$7,560$7,126$6,718$6,390
7 years$7,220$6,735$6,282$5,859$5,463$5,148
8 years$6,254$5,773$5,328$4,915$4,532$4,230
9 years$5,503$5,027$4,589$4,186$3,817$3,527
10 years$4,902$4,431$4,001$3,609$3,252$2,975
11 years$4,411$3,945$3,522$3,141$2,797$2,533
12 years$4,002$3,540$3,126$2,755$2,424$2,172
13 years$3,656$3,200$2,793$2,432$2,114$1,873
14 years$3,360$2,908$2,509$2,159$1,853$1,624
15 years$3,104$2,657$2,266$1,925$1,631$1,414
16 years$2,880$2,438$2,054$1,724$1,442$1,236
17 years$2,682$2,245$1,869$1,549$1,278$1,083
18 years$2,507$2,074$1,706$1,396$1,137$952
19 years$2,350$1,923$1,562$1,261$1,013$838
20 years$2,209$1,786$1,433$1,142$905$739
21 years$2,082$1,664$1,319$1,037$810$654
22 years$1,966$1,553$1,215$943$726$579
23 years$1,861$1,453$1,122$858$652$513
24 years$1,764$1,361$1,038$783$586$455
25 years$1,676$1,277$961$715$527$404
26 years$1,594$1,201$891$654$475$359
27 years$1,519$1,130$828$598$428$320
28 years$1,449$1,065$769$548$386$285
29 years$1,384$1,004$716$503$349$254
30 years$1,323$949$667$461$315$226
31 years$1,267$897$622$424$285$202
32 years$1,214$848$580$390$258$180
33 years$1,164$803$542$358$233$160
34 years$1,117$762$506$330$211$143
35 years$1,074$722$473$303$191$128
36 years$1,032$686$443$279$173$114
37 years$993$651$414$257$157$102
38 years$957$619$388$237$142$91
39 years$922$588$364$219$129$82
40 years$889$560$341$202$117$73
41 years$857$533$319$186$106$65
42 years$828$508$300$172$96$58
43 years$799$484$281$159$87$52
44 years$772$461$264$146$79$47
45 years$747$440$248$135$72$42
46 years$722$419$233$125$65$37
47 years$699$400$219$115$59$33
48 years$676$382$206$107$54$30
49 years$655$365$193$99$49$27
50 years$635$348$182$91$45$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $650,000, adding $5,287 every year, while hoping to spend $36,289 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: 58/32/10 Blend
57$650,000$650,000$650,000$650,000
58$721,754$687,304$677,229$761,595
59$756,761$682,370$661,304$784,114
60$794,123$675,979$643,631$804,118
61$834,042$668,020$624,110$825,041
62$876,738$658,377$602,642$846,976
63$922,454$646,926$579,119$870,026
64$971,457$633,538$553,432$894,305
65$1,024,037$618,073$525,464$919,942
66$1,080,516$600,385$495,094$947,079
67$1,141,244$580,320$462,195$975,877
68$1,206,608$557,713$426,636$1,006,513
69$1,277,031$532,390$388,277$1,039,185
70$1,352,979$504,167$346,975$1,074,115
71$1,434,963$472,851$302,578$1,111,549
72$1,523,544$438,236$254,930$1,151,761
73$1,619,341$400,105$203,865$1,195,055
74$1,723,031$358,227$149,212$1,241,771
75$1,835,361$312,361$90,791$1,292,285
76$1,957,151$262,250$28,416$1,347,016
77$2,089,303$207,623$0$1,406,431
78$2,232,808$148,193$0$1,475,116
79$2,388,759$83,659$0$1,553,076
80$2,558,355$13,701$0$1,637,934
81$2,742,918$0$0$1,730,423
82$2,943,899$0$0$1,853,190
83$3,162,898$0$0$1,992,270
84$3,401,675$0$0$2,143,962
85$3,662,166$0$0$2,309,505
86$3,946,504$0$0$2,490,259
87$4,257,034$0$0$2,687,723
88$4,596,339$0$0$2,903,548
89$4,967,264$0$0$3,139,549
90$5,372,939$0$0$3,397,728
91$5,816,812$0$0$3,680,286
92$6,302,679$0$0$3,989,649
93$6,834,720$0$0$4,328,487
94$7,417,537$0$0$4,699,741
95$8,056,201$0$0$5,106,650
96$8,756,294$0$0$5,552,781
97$9,523,965$0$0$6,042,062
98$10,365,986$0$0$6,578,822
99$11,289,816$0$0$7,167,826
100$12,303,671$0$0$7,814,325