Can I retire at age 58 with 659,000?

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 $659,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$54,420$53,935$53,462$53,000$52,550$51,489
2 years$26,940$26,439$25,952$25,481$25,024$23,959
3 years$17,782$17,278$16,793$16,326$15,876$14,842
4 years$13,203$12,701$12,221$11,762$11,323$10,326
5 years$10,457$9,958$9,484$9,034$8,607$7,652
6 years$8,627$8,131$7,664$7,225$6,811$5,897
7 years$7,320$6,829$6,369$5,940$5,539$4,667
8 years$6,340$5,853$5,402$4,983$4,595$3,765
9 years$5,579$5,096$4,652$4,244$3,870$3,080
10 years$4,970$4,492$4,056$3,659$3,297$2,548
11 years$4,472$3,999$3,571$3,184$2,836$2,126
12 years$4,058$3,589$3,169$2,793$2,457$1,786
13 years$3,707$3,244$2,831$2,466$2,143$1,509
14 years$3,407$2,949$2,544$2,189$1,878$1,281
15 years$3,147$2,694$2,297$1,952$1,654$1,091
16 years$2,920$2,471$2,082$1,748$1,462$932
17 years$2,719$2,276$1,895$1,570$1,296$799
18 years$2,542$2,103$1,730$1,415$1,152$686
19 years$2,383$1,949$1,584$1,279$1,027$590
20 years$2,240$1,811$1,453$1,158$917$509
21 years$2,111$1,687$1,337$1,051$821$439
22 years$1,993$1,575$1,232$956$736$379
23 years$1,887$1,473$1,138$870$661$328
24 years$1,789$1,380$1,052$794$594$284
25 years$1,699$1,295$974$725$534$246
26 years$1,616$1,217$904$663$481$213
27 years$1,540$1,145$839$607$434$185
28 years$1,469$1,079$780$556$392$160
29 years$1,403$1,018$726$510$354$139
30 years$1,341$962$676$468$319$121
31 years$1,284$909$630$430$289$105
32 years$1,230$860$588$395$261$91
33 years$1,180$815$549$363$236$79
34 years$1,133$772$513$334$214$69
35 years$1,089$732$480$308$194$60
36 years$1,047$695$449$283$176$52
37 years$1,007$660$420$261$159$45
38 years$970$627$393$241$144$39
39 years$934$597$369$222$131$34
40 years$901$568$345$205$119$30
41 years$869$540$324$189$108$26
42 years$839$515$304$174$98$23
43 years$810$490$285$161$89$20
44 years$783$467$268$148$81$17
45 years$757$446$251$137$73$15
46 years$732$425$236$127$66$13
47 years$708$406$222$117$60$11
48 years$686$387$208$108$55$10
49 years$664$370$196$100$50$9
50 years$643$353$184$92$45$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $659,000, adding $3,834 every year, while hoping to spend $33,149 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: 39/41/20 Blend
57$659,000$659,000$659,000$659,000
58$730,173$695,246$685,031$754,165
59$769,380$694,043$672,710$770,562
60$811,476$691,669$658,864$784,845
61$856,719$688,034$643,409$799,608
62$905,395$683,038$626,253$814,912
63$957,816$676,578$607,304$830,828
64$1,014,327$668,544$586,462$847,435
65$1,075,304$658,819$563,625$864,825
66$1,141,163$647,279$538,684$883,101
67$1,212,359$633,793$511,528$902,378
68$1,289,394$618,222$482,037$922,788
69$1,372,817$600,420$450,090$944,479
70$1,463,234$580,230$415,558$967,618
71$1,561,311$557,489$378,307$992,393
72$1,667,780$532,021$338,195$1,019,014
73$1,783,446$503,643$295,077$1,047,718
74$1,909,195$472,158$248,800$1,078,770
75$2,046,001$437,362$199,203$1,112,467
76$2,194,936$399,037$146,119$1,149,142
77$2,357,181$356,950$89,376$1,189,167
78$2,534,033$310,861$28,789$1,232,958
79$2,726,921$260,509$0$1,280,978
80$2,937,417$205,625$0$1,341,401
81$3,167,254$145,921$0$1,414,203
82$3,418,335$81,092$0$1,493,923
83$3,692,760$10,820$0$1,581,324
84$3,992,837$0$0$1,677,253
85$4,321,110$0$0$1,812,081
86$4,680,378$0$0$1,965,068
87$5,073,725$0$0$2,132,657
88$5,504,545$0$0$2,316,306
89$5,976,578$0$0$2,517,619
90$6,493,942$0$0$2,738,365
91$7,061,170$0$0$2,980,491
92$7,683,259$0$0$3,246,144
93$8,365,709$0$0$3,537,684
94$9,114,580$0$0$3,857,715
95$9,936,545$0$0$4,209,104
96$10,838,959$0$0$4,595,008
97$11,829,918$0$0$5,018,907
98$12,918,345$0$0$5,484,632
99$14,114,067$0$0$5,996,406
100$15,427,911$0$0$6,558,879