Can I retire at age 58 with 657,000?

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 $657,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$54,254$53,771$53,300$52,839$52,390$51,082
2 years$26,859$26,358$25,874$25,404$24,948$23,638
3 years$17,728$17,226$16,742$16,276$15,828$14,558
4 years$13,163$12,663$12,184$11,726$11,289$10,068
5 years$10,425$9,928$9,455$9,007$8,581$7,413
6 years$8,601$8,107$7,641$7,203$6,790$5,676
7 years$7,298$6,808$6,350$5,922$5,522$4,462
8 years$6,321$5,836$5,385$4,968$4,581$3,574
9 years$5,562$5,081$4,638$4,231$3,858$2,903
10 years$4,955$4,479$4,044$3,647$3,287$2,384
11 years$4,459$3,987$3,560$3,174$2,827$1,974
12 years$4,045$3,579$3,159$2,784$2,450$1,646
13 years$3,696$3,234$2,823$2,458$2,136$1,379
14 years$3,396$2,940$2,536$2,182$1,873$1,161
15 years$3,137$2,685$2,290$1,946$1,649$981
16 years$2,911$2,464$2,076$1,742$1,457$831
17 years$2,711$2,269$1,889$1,566$1,292$706
18 years$2,534$2,097$1,725$1,411$1,149$601
19 years$2,375$1,943$1,579$1,275$1,024$512
20 years$2,233$1,806$1,449$1,155$915$437
21 years$2,104$1,682$1,333$1,048$819$374
22 years$1,987$1,570$1,228$953$734$320
23 years$1,881$1,468$1,134$868$659$274
24 years$1,783$1,376$1,049$791$592$235
25 years$1,694$1,291$971$723$533$202
26 years$1,611$1,213$901$661$480$173
27 years$1,535$1,142$837$605$433$149
28 years$1,464$1,076$778$554$390$128
29 years$1,399$1,015$724$508$352$110
30 years$1,337$959$674$466$318$94
31 years$1,280$906$629$428$288$81
32 years$1,227$858$586$394$260$70
33 years$1,177$812$548$362$236$60
34 years$1,130$770$512$333$213$52
35 years$1,085$730$478$307$193$44
36 years$1,043$693$447$282$175$38
37 years$1,004$658$419$260$159$33
38 years$967$625$392$240$144$28
39 years$932$595$367$221$131$24
40 years$898$566$344$204$118$21
41 years$867$539$323$188$107$18
42 years$836$513$303$174$97$16
43 years$808$489$284$160$88$13
44 years$781$466$267$148$80$12
45 years$755$444$251$137$73$10
46 years$730$424$235$126$66$9
47 years$706$404$221$117$60$7
48 years$684$386$208$108$55$6
49 years$662$369$195$100$50$5
50 years$641$352$184$92$45$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $657,000, adding $3,845 every year, while hoping to spend $22,461 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: 68/25/7 Blend
57$657,000$657,000$657,000$657,000
58$727,980$693,159$682,976$776,377
59$778,336$703,226$681,957$819,017
60$833,075$713,033$680,151$862,541
61$892,621$722,543$677,509$909,531
62$957,440$731,719$673,977$960,321
63$1,028,044$740,519$669,500$1,015,282
64$1,104,997$748,897$664,021$1,074,820
65$1,188,921$756,807$657,480$1,139,384
66$1,280,498$764,198$649,813$1,209,468
67$1,380,480$771,015$640,953$1,285,617
68$1,489,696$777,202$630,832$1,368,430
69$1,609,057$782,697$619,377$1,458,570
70$1,739,566$787,434$606,511$1,556,766
71$1,882,328$791,345$592,156$1,663,822
72$2,038,560$794,355$576,227$1,780,625
73$2,209,601$796,386$558,639$1,908,151
74$2,396,926$797,355$539,299$2,047,477
75$2,602,159$797,172$518,112$2,199,790
76$2,827,089$795,744$494,979$2,366,400
77$3,073,687$792,970$469,796$2,548,748
78$3,344,123$788,745$442,453$2,748,426
79$3,640,786$782,955$412,837$2,967,187
80$3,966,308$775,483$380,830$3,206,962
81$4,323,590$766,200$346,306$3,469,884
82$4,715,826$754,973$309,137$3,758,302
83$5,146,533$741,659$269,186$4,074,804
84$5,619,587$726,109$226,312$4,422,245
85$6,139,259$708,162$180,367$4,803,773
86$6,710,251$687,649$131,197$5,222,856
87$7,337,745$664,393$78,640$5,683,320
88$8,027,449$638,202$22,529$6,189,380
89$8,785,653$608,878$0$6,745,683
90$9,619,285$576,208$0$7,360,143
91$10,535,978$539,969$0$8,037,596
92$11,544,143$499,923$0$8,782,596
93$12,653,046$455,819$0$9,602,021
94$13,872,896$407,394$0$10,503,454
95$15,214,942$354,367$0$11,495,249
96$16,691,578$296,442$0$12,586,617
97$18,316,458$233,308$0$13,787,708
98$20,104,630$164,633$0$15,109,711
99$22,072,673$90,070$0$16,564,959
100$24,238,853$9,251$0$18,167,043