Can I retire at age 58 with 659,000?

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 $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%12.5%
1 years$54,420$53,935$53,462$53,000$52,550$52,001
2 years$26,940$26,439$25,952$25,481$25,024$24,471
3 years$17,782$17,278$16,793$16,326$15,876$15,337
4 years$13,203$12,701$12,221$11,762$11,323$10,801
5 years$10,457$9,958$9,484$9,034$8,607$8,105
6 years$8,627$8,131$7,664$7,225$6,811$6,327
7 years$7,320$6,829$6,369$5,940$5,539$5,075
8 years$6,340$5,853$5,402$4,983$4,595$4,151
9 years$5,579$5,096$4,652$4,244$3,870$3,446
10 years$4,970$4,492$4,056$3,659$3,297$2,892
11 years$4,472$3,999$3,571$3,184$2,836$2,450
12 years$4,058$3,589$3,169$2,793$2,457$2,090
13 years$3,707$3,244$2,831$2,466$2,143$1,794
14 years$3,407$2,949$2,544$2,189$1,878$1,547
15 years$3,147$2,694$2,297$1,952$1,654$1,340
16 years$2,920$2,471$2,082$1,748$1,462$1,164
17 years$2,719$2,276$1,895$1,570$1,296$1,015
18 years$2,542$2,103$1,730$1,415$1,152$887
19 years$2,383$1,949$1,584$1,279$1,027$776
20 years$2,240$1,811$1,453$1,158$917$681
21 years$2,111$1,687$1,337$1,051$821$598
22 years$1,993$1,575$1,232$956$736$526
23 years$1,887$1,473$1,138$870$661$464
24 years$1,789$1,380$1,052$794$594$409
25 years$1,699$1,295$974$725$534$361
26 years$1,616$1,217$904$663$481$319
27 years$1,540$1,145$839$607$434$282
28 years$1,469$1,079$780$556$392$249
29 years$1,403$1,018$726$510$354$221
30 years$1,341$962$676$468$319$196
31 years$1,284$909$630$430$289$173
32 years$1,230$860$588$395$261$154
33 years$1,180$815$549$363$236$136
34 years$1,133$772$513$334$214$121
35 years$1,089$732$480$308$194$107
36 years$1,047$695$449$283$176$95
37 years$1,007$660$420$261$159$84
38 years$970$627$393$241$144$75
39 years$934$597$369$222$131$66
40 years$901$568$345$205$119$59
41 years$869$540$324$189$108$52
42 years$839$515$304$174$98$47
43 years$810$490$285$161$89$41
44 years$783$467$268$148$81$37
45 years$757$446$251$137$73$33
46 years$732$425$236$127$66$29
47 years$708$406$222$117$60$26
48 years$686$387$208$108$55$23
49 years$664$370$196$100$50$20
50 years$643$353$184$92$45$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $659,000, adding $5,315 every year, while hoping to spend $41,882 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: 30/40/30 Blend
57$659,000$659,000$659,000$659,000
58$731,700$696,773$686,559$746,804
59$761,772$686,353$664,997$748,703
60$793,507$674,019$641,308$746,759
61$827,031$659,632$615,378$743,852
62$862,480$643,047$587,086$739,931
63$900,006$624,108$556,306$734,940
64$939,769$602,652$522,905$728,822
65$981,949$578,506$486,746$721,523
66$1,026,741$551,486$447,685$712,985
67$1,074,358$521,398$405,571$703,150
68$1,125,032$488,036$360,248$691,960
69$1,179,020$451,184$311,551$679,358
70$1,236,600$410,613$259,308$665,288
71$1,298,079$366,078$203,341$649,693
72$1,363,793$317,325$143,462$632,518
73$1,434,108$264,083$79,476$613,712
74$1,509,429$206,064$11,180$593,223
75$1,590,197$142,968$0$571,007
76$1,676,897$74,474$0$566,772
77$1,770,063$246$0$565,832
78$1,870,279$0$0$564,649
79$1,978,187$0$0$598,521
80$2,094,490$0$0$635,224
81$2,219,965$0$0$674,904
82$2,355,461$0$0$717,840
83$2,501,912$0$0$764,339
84$2,660,347$0$0$814,740
85$2,831,895$0$0$869,413
86$3,017,796$0$0$928,767
87$3,219,416$0$0$993,252
88$3,438,256$0$0$1,063,361
89$3,675,967$0$0$1,139,639
90$3,934,366$0$0$1,222,683
91$4,215,450$0$0$1,313,152
92$4,521,418$0$0$1,411,770
93$4,854,688$0$0$1,519,334
94$5,217,922$0$0$1,636,722
95$5,614,050$0$0$1,764,900
96$6,046,296$0$0$1,904,930
97$6,518,209$0$0$2,057,985
98$7,033,695$0$0$2,225,351
99$7,597,056$0$0$2,408,448
100$8,213,027$0$0$2,608,839