Can I retire at age 58 with 653,000?

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 $653,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$53,924$53,444$52,975$52,518$52,071$51,314
2 years$26,695$26,198$25,716$25,249$24,796$24,035
3 years$17,620$17,121$16,640$16,177$15,731$14,990
4 years$13,083$12,585$12,110$11,655$11,220$10,504
5 years$10,362$9,867$9,398$8,952$8,529$7,840
6 years$8,548$8,057$7,595$7,159$6,749$6,088
7 years$7,253$6,766$6,311$5,886$5,489$4,856
8 years$6,283$5,800$5,352$4,937$4,553$3,949
9 years$5,528$5,050$4,610$4,206$3,835$3,259
10 years$4,925$4,451$4,019$3,625$3,267$2,719
11 years$4,431$3,963$3,538$3,155$2,810$2,289
12 years$4,021$3,557$3,140$2,767$2,435$1,940
13 years$3,673$3,214$2,806$2,443$2,123$1,654
14 years$3,376$2,922$2,521$2,169$1,861$1,417
15 years$3,118$2,669$2,276$1,934$1,639$1,219
16 years$2,893$2,449$2,063$1,732$1,448$1,052
17 years$2,695$2,255$1,878$1,556$1,284$910
18 years$2,518$2,084$1,714$1,402$1,142$790
19 years$2,361$1,931$1,569$1,267$1,018$687
20 years$2,219$1,795$1,440$1,148$909$598
21 years$2,091$1,672$1,325$1,042$814$521
22 years$1,975$1,560$1,221$947$729$455
23 years$1,869$1,459$1,127$862$655$398
24 years$1,773$1,367$1,042$787$588$348
25 years$1,684$1,283$966$718$529$305
26 years$1,602$1,206$896$657$477$267
27 years$1,526$1,135$832$601$430$234
28 years$1,455$1,070$773$551$388$206
29 years$1,390$1,009$719$505$350$181
30 years$1,329$953$670$464$317$159
31 years$1,272$901$625$426$286$139
32 years$1,219$852$583$391$259$123
33 years$1,169$807$544$360$234$108
34 years$1,123$765$508$331$212$95
35 years$1,079$726$475$305$192$83
36 years$1,037$689$445$281$174$73
37 years$998$654$416$259$158$65
38 years$961$622$390$238$143$57
39 years$926$591$365$220$130$50
40 years$893$562$342$203$118$44
41 years$861$535$321$187$107$39
42 years$831$510$301$173$97$34
43 years$803$486$283$159$88$30
44 years$776$463$265$147$80$26
45 years$750$442$249$136$72$23
46 years$725$421$234$126$66$21
47 years$702$402$220$116$60$18
48 years$680$384$206$107$54$16
49 years$658$366$194$99$49$14
50 years$638$350$182$92$45$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $653,000, adding $2,740 every year, while hoping to spend $30,038 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: 55/36/9 Blend
57$653,000$653,000$653,000$653,000
58$722,432$687,823$677,702$760,435
59$764,160$689,566$668,445$788,194
60$809,138$690,388$657,871$814,859
61$857,664$690,212$645,904$843,171
62$910,069$688,956$632,465$873,291
63$966,715$686,533$617,471$905,399
64$1,027,999$682,852$600,835$939,694
65$1,094,358$677,815$582,466$976,393
66$1,166,273$671,318$562,270$1,015,742
67$1,244,272$663,253$540,145$1,058,010
68$1,328,938$653,501$515,990$1,103,495
69$1,420,908$641,942$489,694$1,152,529
70$1,520,886$628,442$461,144$1,205,478
71$1,629,646$612,866$430,222$1,262,747
72$1,748,039$595,065$396,804$1,324,787
73$1,877,001$574,886$360,759$1,392,093
74$2,017,563$552,163$321,952$1,465,217
75$2,170,860$526,724$280,243$1,544,766
76$2,338,139$498,385$235,483$1,631,416
77$2,520,775$466,952$187,517$1,725,911
78$2,720,281$432,219$136,185$1,829,075
79$2,938,321$393,969$81,319$1,941,820
80$3,176,729$351,973$22,743$2,065,155
81$3,437,524$305,989$0$2,200,195
82$3,722,929$255,759$0$2,351,991
83$4,035,390$201,014$0$2,520,667
84$4,377,603$141,466$0$2,705,560
85$4,752,535$76,815$0$2,908,356
86$5,163,456$6,741$0$3,130,916
87$5,613,965$0$0$3,375,294
88$6,108,026$0$0$3,671,129
89$6,650,007$0$0$3,998,649
90$7,244,718$0$0$4,358,097
91$7,897,456$0$0$4,752,685
92$8,614,057$0$0$5,185,947
93$9,400,950$0$0$5,661,779
94$10,265,216$0$0$6,184,472
95$11,214,656$0$0$6,758,754
96$12,257,865$0$0$7,389,831
97$13,404,309$0$0$8,083,442
98$14,664,418$0$0$8,845,906
99$16,049,685$0$0$9,684,186
100$17,572,768$0$0$10,605,956