Can I retire at age 58 with 655,000?

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 $655,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$54,089$53,607$53,137$52,679$52,231$51,771
2 years$26,777$26,278$25,795$25,326$24,872$24,409
3 years$17,674$17,173$16,691$16,227$15,780$15,328
4 years$13,123$12,624$12,147$11,690$11,254$10,816
5 years$10,394$9,897$9,426$8,979$8,555$8,133
6 years$8,575$8,082$7,618$7,181$6,769$6,363
7 years$7,276$6,787$6,331$5,904$5,505$5,116
8 years$6,302$5,818$5,369$4,953$4,567$4,194
9 years$5,545$5,066$4,624$4,218$3,846$3,489
10 years$4,940$4,465$4,031$3,636$3,277$2,936
11 years$4,445$3,975$3,549$3,165$2,819$2,493
12 years$4,033$3,568$3,150$2,776$2,442$2,132
13 years$3,684$3,224$2,814$2,451$2,130$1,835
14 years$3,386$2,931$2,529$2,175$1,867$1,586
15 years$3,128$2,677$2,283$1,940$1,644$1,378
16 years$2,902$2,456$2,070$1,737$1,453$1,200
17 years$2,703$2,262$1,883$1,561$1,288$1,049
18 years$2,526$2,090$1,719$1,407$1,145$919
19 years$2,368$1,937$1,574$1,271$1,021$807
20 years$2,226$1,800$1,445$1,151$912$710
21 years$2,098$1,677$1,329$1,045$816$626
22 years$1,981$1,565$1,225$950$731$552
23 years$1,875$1,464$1,131$865$657$488
24 years$1,778$1,372$1,046$789$590$432
25 years$1,689$1,287$969$721$531$382
26 years$1,606$1,210$898$659$478$339
27 years$1,530$1,139$834$603$431$301
28 years$1,460$1,073$775$553$389$267
29 years$1,394$1,012$722$507$351$237
30 years$1,333$956$672$465$318$210
31 years$1,276$904$627$427$287$187
32 years$1,223$855$585$392$260$166
33 years$1,173$810$546$361$235$148
34 years$1,126$767$510$332$213$132
35 years$1,082$728$477$306$193$117
36 years$1,040$691$446$282$175$104
37 years$1,001$656$418$259$158$93
38 years$964$624$391$239$143$83
39 years$929$593$366$220$130$74
40 years$895$564$343$203$118$66
41 years$864$537$322$188$107$58
42 years$834$511$302$173$97$52
43 years$805$487$283$160$88$46
44 years$778$464$266$148$80$41
45 years$752$443$250$136$73$37
46 years$728$423$235$126$66$33
47 years$704$403$220$116$60$29
48 years$682$385$207$107$54$26
49 years$660$368$195$99$49$23
50 years$640$351$183$92$45$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $655,000, adding $6,886 every year, while hoping to spend $52,754 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: 40/49/11 Blend
57$655,000$655,000$655,000$655,000
58$728,913$694,198$684,045$755,409
59$747,132$672,084$650,831$752,628
60$765,442$647,118$614,736$743,884
61$783,795$619,105$575,608$733,252
62$802,139$587,838$533,288$720,584
63$820,414$553,099$487,610$705,723
64$838,551$514,656$438,399$688,500
65$856,474$472,264$385,476$668,736
66$874,094$425,665$328,650$646,236
67$891,316$374,587$267,724$620,797
68$908,028$318,739$202,490$592,196
69$924,107$257,818$132,734$560,200
70$939,415$191,500$58,230$524,555
71$953,798$119,446$0$484,992
72$967,083$41,296$0$443,721
73$979,076$0$0$405,390
74$989,564$0$0$386,219
75$998,305$0$0$388,498
76$1,005,035$0$0$389,841
77$1,009,455$0$0$390,114
78$1,011,236$0$0$389,171
79$1,010,011$0$0$386,849
80$1,005,374$0$0$382,966
81$996,873$0$0$377,323
82$984,006$0$0$369,695
83$966,219$0$0$359,836
84$942,895$0$0$347,474
85$913,353$0$0$332,305
86$876,838$0$0$313,995
87$832,514$0$0$292,173
88$779,455$0$0$266,428
89$716,638$0$0$236,308
90$642,930$0$0$201,310
91$557,080$0$0$160,882
92$457,703$0$0$114,409
93$343,270$0$0$61,215
94$212,088$0$0$553
95$62,292$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0