Can I retire at age 58 with 653,000?

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 $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%18.4%
1 years$53,924$53,444$52,975$52,518$52,071$50,304
2 years$26,695$26,198$25,716$25,249$24,796$23,033
3 years$17,620$17,121$16,640$16,177$15,731$14,028
4 years$13,083$12,585$12,110$11,655$11,220$9,590
5 years$10,362$9,867$9,398$8,952$8,529$6,976
6 years$8,548$8,057$7,595$7,159$6,749$5,274
7 years$7,253$6,766$6,311$5,886$5,489$4,092
8 years$6,283$5,800$5,352$4,937$4,553$3,234
9 years$5,528$5,050$4,610$4,206$3,835$2,591
10 years$4,925$4,451$4,019$3,625$3,267$2,097
11 years$4,431$3,963$3,538$3,155$2,810$1,711
12 years$4,021$3,557$3,140$2,767$2,435$1,405
13 years$3,673$3,214$2,806$2,443$2,123$1,159
14 years$3,376$2,922$2,521$2,169$1,861$960
15 years$3,118$2,669$2,276$1,934$1,639$798
16 years$2,893$2,449$2,063$1,732$1,448$665
17 years$2,695$2,255$1,878$1,556$1,284$556
18 years$2,518$2,084$1,714$1,402$1,142$465
19 years$2,361$1,931$1,569$1,267$1,018$390
20 years$2,219$1,795$1,440$1,148$909$327
21 years$2,091$1,672$1,325$1,042$814$275
22 years$1,975$1,560$1,221$947$729$231
23 years$1,869$1,459$1,127$862$655$194
24 years$1,773$1,367$1,042$787$588$164
25 years$1,684$1,283$966$718$529$138
26 years$1,602$1,206$896$657$477$116
27 years$1,526$1,135$832$601$430$98
28 years$1,455$1,070$773$551$388$82
29 years$1,390$1,009$719$505$350$70
30 years$1,329$953$670$464$317$59
31 years$1,272$901$625$426$286$50
32 years$1,219$852$583$391$259$42
33 years$1,169$807$544$360$234$35
34 years$1,123$765$508$331$212$30
35 years$1,079$726$475$305$192$25
36 years$1,037$689$445$281$174$21
37 years$998$654$416$259$158$18
38 years$961$622$390$238$143$15
39 years$926$591$365$220$130$13
40 years$893$562$342$203$118$11
41 years$861$535$321$187$107$9
42 years$831$510$301$173$97$8
43 years$803$486$283$159$88$6
44 years$776$463$265$147$80$5
45 years$750$442$249$136$72$5
46 years$725$421$234$126$66$4
47 years$702$402$220$116$60$3
48 years$680$384$206$107$54$3
49 years$658$366$194$99$49$2
50 years$638$350$182$92$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $653,000, adding $3,053 every year, while hoping to spend $23,053 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: 34/45/21 Blend
57$653,000$653,000$653,000$653,000
58$722,755$688,146$678,025$742,596
59$771,948$697,337$676,210$766,737
60$825,386$706,206$673,562$790,420
61$883,477$714,712$670,029$815,485
62$946,672$722,813$665,555$842,068
63$1,015,465$730,463$660,083$870,321
64$1,090,400$737,613$653,553$900,412
65$1,172,076$744,211$645,903$932,526
66$1,261,152$750,202$637,065$966,870
67$1,358,354$755,527$626,971$1,003,674
68$1,464,480$760,122$615,549$1,043,190
69$1,580,410$763,921$602,723$1,085,702
70$1,707,111$766,852$588,413$1,131,519
71$1,845,649$768,840$572,538$1,180,989
72$1,997,197$769,805$555,009$1,234,493
73$2,163,046$769,661$535,737$1,292,457
74$2,344,620$768,317$514,627$1,355,349
75$2,543,483$765,676$491,579$1,423,689
76$2,761,361$761,638$466,490$1,498,053
77$3,000,154$756,092$439,252$1,579,077
78$3,261,954$748,924$409,751$1,667,468
79$3,549,064$740,013$377,868$1,764,005
80$3,864,023$729,228$343,481$1,869,551
81$4,209,626$716,432$306,460$1,985,061
82$4,588,951$701,481$266,670$2,111,591
83$5,005,391$684,221$223,971$2,250,308
84$5,462,682$664,488$178,214$2,402,504
85$5,964,938$642,111$129,247$2,569,606
86$6,516,694$616,907$76,910$2,753,191
87$7,122,944$588,682$21,033$2,955,004
88$7,789,191$557,234$0$3,176,973
89$8,521,495$522,345$0$3,429,874
90$9,326,535$483,788$0$3,713,006
91$10,211,669$441,320$0$4,024,291
92$11,185,002$394,687$0$4,366,647
93$12,255,464$343,619$0$4,743,291
94$13,432,896$287,831$0$5,157,777
95$14,728,138$227,022$0$5,614,022
96$16,153,135$160,873$0$6,116,353
97$17,721,048$89,049$0$6,669,541
98$19,446,377$11,194$0$7,278,851
99$21,345,100$0$0$7,950,093
100$23,434,821$0$0$8,725,856