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%16.7%
1 years$53,676$53,198$52,732$52,276$51,832$50,415
2 years$26,572$26,078$25,598$25,133$24,682$23,265
3 years$17,539$17,042$16,564$16,103$15,659$14,286
4 years$13,023$12,528$12,054$11,601$11,168$9,850
5 years$10,314$9,822$9,354$8,911$8,490$7,230
6 years$8,509$8,020$7,560$7,126$6,718$5,517
7 years$7,220$6,735$6,282$5,859$5,463$4,323
8 years$6,254$5,773$5,328$4,915$4,532$3,450
9 years$5,503$5,027$4,589$4,186$3,817$2,793
10 years$4,902$4,431$4,001$3,609$3,252$2,285
11 years$4,411$3,945$3,522$3,141$2,797$1,885
12 years$4,002$3,540$3,126$2,755$2,424$1,565
13 years$3,656$3,200$2,793$2,432$2,114$1,306
14 years$3,360$2,908$2,509$2,159$1,853$1,095
15 years$3,104$2,657$2,266$1,925$1,631$921
16 years$2,880$2,438$2,054$1,724$1,442$777
17 years$2,682$2,245$1,869$1,549$1,278$657
18 years$2,507$2,074$1,706$1,396$1,137$557
19 years$2,350$1,923$1,562$1,261$1,013$473
20 years$2,209$1,786$1,433$1,142$905$402
21 years$2,082$1,664$1,319$1,037$810$342
22 years$1,966$1,553$1,215$943$726$291
23 years$1,861$1,453$1,122$858$652$248
24 years$1,764$1,361$1,038$783$586$212
25 years$1,676$1,277$961$715$527$181
26 years$1,594$1,201$891$654$475$155
27 years$1,519$1,130$828$598$428$132
28 years$1,449$1,065$769$548$386$113
29 years$1,384$1,004$716$503$349$97
30 years$1,323$949$667$461$315$83
31 years$1,267$897$622$424$285$71
32 years$1,214$848$580$390$258$61
33 years$1,164$803$542$358$233$52
34 years$1,117$762$506$330$211$44
35 years$1,074$722$473$303$191$38
36 years$1,032$686$443$279$173$33
37 years$993$651$414$257$157$28
38 years$957$619$388$237$142$24
39 years$922$588$364$219$129$20
40 years$889$560$341$202$117$18
41 years$857$533$319$186$106$15
42 years$828$508$300$172$96$13
43 years$799$484$281$159$87$11
44 years$772$461$264$146$79$9
45 years$747$440$248$135$72$8
46 years$722$419$233$125$65$7
47 years$699$400$219$115$59$6
48 years$676$382$206$107$54$5
49 years$655$365$193$99$49$4
50 years$635$348$182$91$45$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $650,000, adding $2,420 every year, while hoping to spend $46,357 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: 56/18/26 Blend
57$650,000$650,000$650,000$650,000
58$718,796$684,346$674,271$753,799
59$742,790$668,556$647,536$762,309
60$767,677$650,438$618,351$766,520
61$793,501$629,829$586,586$770,149
62$820,305$606,558$552,104$773,154
63$848,138$580,441$514,761$775,491
64$877,051$551,286$474,409$777,117
65$907,099$518,888$430,890$777,985
66$938,340$483,030$384,042$778,045
67$970,837$443,486$333,694$777,248
68$1,004,658$400,012$279,669$775,542
69$1,039,875$352,354$221,779$772,875
70$1,076,566$300,243$159,832$769,189
71$1,114,813$243,392$93,624$764,430
72$1,154,707$181,502$22,944$758,540
73$1,196,346$114,254$0$751,458
74$1,239,833$41,312$0$757,685
75$1,285,281$0$0$770,337
76$1,332,814$0$0$790,510
77$1,382,562$0$0$820,203
78$1,434,670$0$0$851,320
79$1,489,292$0$0$883,956
80$1,546,596$0$0$918,213
81$1,606,765$0$0$954,204
82$1,669,997$0$0$992,049
83$1,736,509$0$0$1,031,881
84$1,806,534$0$0$1,073,842
85$1,880,328$0$0$1,118,090
86$1,958,169$0$0$1,164,795
87$2,040,361$0$0$1,214,143
88$2,127,233$0$0$1,266,336
89$2,219,147$0$0$1,321,596
90$2,316,497$0$0$1,380,164
91$2,419,713$0$0$1,442,305
92$2,529,266$0$0$1,508,307
93$2,645,669$0$0$1,578,486
94$2,769,486$0$0$1,653,189
95$2,901,331$0$0$1,732,792
96$3,041,880$0$0$1,817,710
97$3,191,869$0$0$1,908,398
98$3,352,109$0$0$2,005,352
99$3,523,486$0$0$2,109,118
100$3,706,971$0$0$2,220,293