Can I retire at age 58 with 661,000?

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 $661,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$54,585$54,099$53,624$53,161$52,709$51,879
2 years$27,022$26,519$26,031$25,558$25,100$24,265
3 years$17,836$17,330$16,844$16,375$15,924$15,112
4 years$13,244$12,740$12,258$11,798$11,357$10,573
5 years$10,489$9,988$9,513$9,062$8,634$7,880
6 years$8,653$8,156$7,688$7,247$6,831$6,109
7 years$7,342$6,849$6,389$5,958$5,556$4,865
8 years$6,360$5,871$5,418$4,998$4,609$3,949
9 years$5,596$5,112$4,666$4,257$3,882$3,253
10 years$4,985$4,506$4,068$3,670$3,307$2,709
11 years$4,486$4,011$3,582$3,194$2,844$2,276
12 years$4,070$3,600$3,179$2,801$2,465$1,926
13 years$3,718$3,254$2,840$2,473$2,149$1,639
14 years$3,417$2,958$2,552$2,195$1,884$1,401
15 years$3,156$2,702$2,304$1,958$1,659$1,203
16 years$2,928$2,479$2,089$1,753$1,466$1,036
17 years$2,728$2,283$1,901$1,575$1,300$894
18 years$2,549$2,109$1,735$1,420$1,156$774
19 years$2,390$1,955$1,588$1,283$1,030$672
20 years$2,247$1,817$1,458$1,162$920$584
21 years$2,117$1,692$1,341$1,054$824$508
22 years$2,000$1,580$1,236$959$738$442
23 years$1,892$1,477$1,141$873$663$386
24 years$1,794$1,384$1,055$796$596$337
25 years$1,704$1,299$977$727$536$294
26 years$1,621$1,221$906$665$483$257
27 years$1,544$1,149$842$609$435$225
28 years$1,473$1,083$783$558$393$197
29 years$1,407$1,021$728$511$355$173
30 years$1,346$965$678$469$320$151
31 years$1,288$912$632$431$290$133
32 years$1,234$863$590$396$262$116
33 years$1,184$817$551$364$237$102
34 years$1,136$774$515$335$215$89
35 years$1,092$735$481$309$194$78
36 years$1,050$697$450$284$176$69
37 years$1,010$662$421$262$160$60
38 years$973$629$395$241$145$53
39 years$937$598$370$222$131$47
40 years$904$569$346$205$119$41
41 years$872$542$325$189$108$36
42 years$842$516$305$175$98$32
43 years$813$492$286$161$89$28
44 years$785$469$268$149$81$24
45 years$759$447$252$138$73$21
46 years$734$426$237$127$67$19
47 years$711$407$222$117$60$16
48 years$688$388$209$108$55$14
49 years$666$371$196$100$50$13
50 years$645$354$185$93$45$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $661,000, adding $2,311 every year, while hoping to spend $43,978 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: 59/34/7 Blend
57$661,000$661,000$661,000$661,000
58$730,806$695,773$685,527$772,715
59$758,556$683,073$661,700$788,399
60$787,662$668,278$635,601$800,275
61$818,217$651,237$607,107$812,122
62$850,320$631,793$576,090$823,940
63$884,081$609,778$542,417$835,731
64$919,616$585,016$505,946$847,497
65$957,054$557,319$466,533$859,245
66$996,536$526,490$424,024$870,985
67$1,038,213$492,319$378,260$882,730
68$1,082,253$454,584$329,074$894,496
69$1,128,836$413,052$276,291$906,307
70$1,178,161$367,475$219,730$918,188
71$1,230,443$317,592$159,201$930,175
72$1,285,920$263,125$94,506$942,308
73$1,344,850$203,784$25,438$954,636
74$1,407,515$139,260$0$967,218
75$1,474,224$69,227$0$983,727
76$1,545,318$0$0$1,002,902
77$1,621,165$0$0$1,025,443
78$1,702,173$0$0$1,077,211
79$1,788,787$0$0$1,132,596
80$1,881,495$0$0$1,191,914
81$1,980,831$0$0$1,255,512
82$2,087,384$0$0$1,323,770
83$2,201,798$0$0$1,397,108
84$2,324,778$0$0$1,475,982
85$2,457,103$0$0$1,560,897
86$2,599,623$0$0$1,652,406
87$2,753,275$0$0$1,751,116
88$2,919,086$0$0$1,857,695
89$3,098,188$0$0$1,972,875
90$3,291,820$0$0$2,097,464
91$3,501,348$0$0$2,232,346
92$3,728,271$0$0$2,378,496
93$3,974,239$0$0$2,536,984
94$4,241,064$0$0$2,708,989
95$4,530,742$0$0$2,895,804
96$4,845,465$0$0$3,098,856
97$5,187,645$0$0$3,319,711
98$5,559,939$0$0$3,560,093
99$5,965,266$0$0$3,821,900
100$6,406,840$0$0$4,107,220