Can I retire at age 58 with 660,000?

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 $660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$54,502$54,017$53,543$53,081$52,629$51,462
2 years$26,981$26,479$25,992$25,520$25,062$23,891
3 years$17,809$17,304$16,818$16,351$15,900$14,764
4 years$13,224$12,720$12,239$11,780$11,340$10,246
5 years$10,473$9,973$9,498$9,048$8,621$7,572
6 years$8,640$8,144$7,676$7,236$6,821$5,820
7 years$7,331$6,839$6,379$5,949$5,547$4,593
8 years$6,350$5,862$5,410$4,990$4,602$3,694
9 years$5,587$5,104$4,659$4,251$3,876$3,014
10 years$4,977$4,499$4,062$3,664$3,302$2,486
11 years$4,479$4,005$3,576$3,189$2,840$2,067
12 years$4,064$3,595$3,174$2,797$2,461$1,731
13 years$3,713$3,249$2,836$2,469$2,146$1,458
14 years$3,412$2,953$2,548$2,192$1,881$1,233
15 years$3,152$2,698$2,300$1,955$1,656$1,047
16 years$2,924$2,475$2,086$1,750$1,464$891
17 years$2,723$2,279$1,898$1,573$1,298$761
18 years$2,545$2,106$1,732$1,417$1,154$651
19 years$2,386$1,952$1,586$1,281$1,029$558
20 years$2,243$1,814$1,456$1,160$919$479
21 years$2,114$1,690$1,339$1,053$822$412
22 years$1,996$1,577$1,234$957$737$354
23 years$1,889$1,475$1,139$872$662$305
24 years$1,792$1,382$1,054$795$595$263
25 years$1,702$1,297$976$726$535$227
26 years$1,619$1,219$905$664$482$196
27 years$1,542$1,147$840$608$435$169
28 years$1,471$1,081$781$557$392$146
29 years$1,405$1,020$727$511$354$126
30 years$1,343$963$677$469$320$109
31 years$1,286$910$631$430$289$95
32 years$1,232$861$589$395$262$82
33 years$1,182$816$550$364$237$71
34 years$1,135$773$514$335$214$61
35 years$1,090$733$480$308$194$53
36 years$1,048$696$449$284$176$46
37 years$1,009$661$421$261$159$40
38 years$971$628$394$241$145$34
39 years$936$597$369$222$131$30
40 years$902$568$346$205$119$26
41 years$871$541$324$189$108$22
42 years$840$515$304$174$98$19
43 years$812$491$286$161$89$17
44 years$784$468$268$149$81$15
45 years$758$446$252$137$73$13
46 years$733$426$236$127$66$11
47 years$710$406$222$117$60$9
48 years$687$388$209$108$55$8
49 years$665$370$196$100$50$7
50 years$644$354$184$93$45$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $660,000, adding $6,029 every year, while hoping to spend $27,285 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: 56/38/6 Blend
57$660,000$660,000$660,000$660,000
58$733,539$698,559$688,329$773,341
59$779,329$703,757$682,357$806,041
60$828,875$708,296$675,270$838,058
61$882,531$712,114$667,003$872,253
62$940,688$715,145$657,486$908,836
63$1,003,772$717,322$646,646$948,041
64$1,072,257$718,570$634,408$990,123
65$1,146,658$718,812$620,692$1,035,366
66$1,227,547$717,963$605,415$1,084,085
67$1,315,551$715,937$588,491$1,136,625
68$1,411,359$712,640$569,827$1,193,369
69$1,515,730$707,972$549,329$1,254,741
70$1,629,500$701,828$526,897$1,321,208
71$1,753,589$694,097$502,428$1,393,286
72$1,889,008$684,661$475,812$1,471,547
73$2,036,871$673,393$446,936$1,556,621
74$2,198,404$660,162$415,680$1,649,203
75$2,374,957$644,826$381,922$1,750,065
76$2,568,017$627,237$345,531$1,860,055
77$2,779,220$607,237$306,371$1,980,112
78$3,010,367$584,658$264,301$2,111,272
79$3,263,443$559,325$219,173$2,254,682
80$3,540,632$531,049$170,833$2,411,604
81$3,844,340$499,634$119,120$2,583,436
82$4,177,217$464,871$63,865$2,771,718
83$4,542,182$426,538$4,893$2,978,153
84$4,942,448$384,402$0$3,204,619
85$5,381,555$338,215$0$3,456,908
86$5,863,403$287,717$0$3,734,169
87$6,392,287$232,632$0$4,038,629
88$6,972,938$172,669$0$4,373,092
89$7,610,567$107,519$0$4,740,651
90$8,310,915$36,858$0$5,144,720
91$9,080,308$0$0$5,589,064
92$9,925,711$0$0$6,094,423
93$10,854,801$0$0$6,666,808
94$11,876,033$0$0$7,296,026
95$12,998,723$0$0$7,987,823
96$14,233,134$0$0$8,748,534
97$15,590,574$0$0$9,585,134
98$17,083,501$0$0$10,505,312
99$18,725,642$0$0$11,517,536
100$20,532,119$0$0$12,631,139