Can I retire at age 58 with 651,000?

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 $651,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$53,759$53,280$52,813$52,357$51,912$51,284
2 years$26,613$26,118$25,637$25,172$24,720$24,088
3 years$17,566$17,068$16,589$16,128$15,683$15,067
4 years$13,043$12,547$12,073$11,619$11,185$10,590
5 years$10,330$9,837$9,369$8,925$8,503$7,930
6 years$8,522$8,033$7,571$7,137$6,728$6,178
7 years$7,231$6,746$6,292$5,868$5,472$4,944
8 years$6,263$5,782$5,336$4,922$4,539$4,035
9 years$5,511$5,035$4,596$4,193$3,823$3,341
10 years$4,910$4,438$4,007$3,614$3,257$2,798
11 years$4,418$3,951$3,528$3,145$2,801$2,364
12 years$4,008$3,546$3,131$2,759$2,428$2,012
13 years$3,662$3,204$2,797$2,436$2,117$1,722
14 years$3,365$2,913$2,513$2,162$1,856$1,481
15 years$3,109$2,661$2,269$1,928$1,634$1,279
16 years$2,884$2,441$2,057$1,727$1,444$1,109
17 years$2,686$2,248$1,872$1,551$1,280$963
18 years$2,511$2,078$1,709$1,398$1,138$839
19 years$2,354$1,925$1,564$1,263$1,015$733
20 years$2,213$1,789$1,436$1,144$906$641
21 years$2,085$1,667$1,321$1,038$811$562
22 years$1,969$1,556$1,217$944$727$493
23 years$1,864$1,455$1,124$860$653$433
24 years$1,767$1,363$1,039$784$587$380
25 years$1,678$1,279$963$716$528$335
26 years$1,597$1,202$893$655$475$295
27 years$1,521$1,132$829$599$429$260
28 years$1,451$1,066$771$549$387$229
29 years$1,386$1,006$717$504$349$202
30 years$1,325$950$668$462$316$178
31 years$1,269$898$623$424$285$157
32 years$1,216$850$581$390$258$139
33 years$1,166$805$543$359$234$123
34 years$1,119$763$507$330$211$109
35 years$1,075$723$474$304$192$96
36 years$1,034$687$443$280$174$85
37 years$995$652$415$258$157$75
38 years$958$620$389$238$143$66
39 years$923$589$364$219$129$59
40 years$890$561$341$202$117$52
41 years$859$534$320$186$106$46
42 years$829$508$300$172$97$41
43 years$800$484$282$159$88$36
44 years$773$462$264$147$80$32
45 years$748$440$248$135$72$28
46 years$723$420$233$125$66$25
47 years$700$401$219$116$60$22
48 years$677$383$206$107$54$20
49 years$656$365$193$99$49$17
50 years$636$349$182$91$45$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $651,000, adding $3,015 every year, while hoping to spend $41,420 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: 70/16/14 Blend
57$651,000$651,000$651,000$651,000
58$720,512$686,009$675,918$768,480
59$749,934$675,553$654,491$790,281
60$780,968$663,196$630,958$808,858
61$813,736$648,802$605,204$828,113
62$848,369$632,226$577,111$848,107
63$885,012$613,313$546,553$868,905
64$923,820$591,903$513,399$890,583
65$964,966$567,822$477,514$913,224
66$1,008,636$540,889$438,755$936,924
67$1,055,036$510,911$396,972$961,784
68$1,104,389$477,686$352,010$987,923
69$1,156,941$440,997$303,707$1,015,469
70$1,212,961$400,618$251,893$1,044,567
71$1,272,742$356,307$196,390$1,075,378
72$1,336,607$307,811$137,014$1,108,082
73$1,404,908$254,861$73,572$1,142,877
74$1,478,033$197,173$5,861$1,179,986
75$1,556,406$134,449$0$1,219,656
76$1,640,493$66,370$0$1,272,079
77$1,730,805$0$0$1,329,222
78$1,827,902$0$0$1,391,883
79$1,932,401$0$0$1,471,921
80$2,044,978$0$0$1,558,173
81$2,166,375$0$0$1,651,209
82$2,297,407$0$0$1,751,660
83$2,438,972$0$0$1,860,216
84$2,592,055$0$0$1,977,635
85$2,757,737$0$0$2,104,754
86$2,937,210$0$0$2,242,488
87$3,131,781$0$0$2,391,848
88$3,342,891$0$0$2,553,942
89$3,572,122$0$0$2,729,990
90$3,821,214$0$0$2,921,335
91$4,092,083$0$0$3,129,453
92$4,386,835$0$0$3,355,969
93$4,707,788$0$0$3,602,669
94$5,057,495$0$0$3,871,522
95$5,438,760$0$0$4,164,690
96$5,854,675$0$0$4,484,558
97$6,308,640$0$0$4,833,747
98$6,804,398$0$0$5,215,143
99$7,346,070$0$0$5,631,925
100$7,938,193$0$0$6,087,592