Can I retire at age 58 with 661,000?

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 $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%20%
1 years$54,585$54,099$53,624$53,161$52,709$50,598
2 years$27,022$26,519$26,031$25,558$25,100$22,999
3 years$17,836$17,330$16,844$16,375$15,924$13,900
4 years$13,244$12,740$12,258$11,798$11,357$9,426
5 years$10,489$9,988$9,513$9,062$8,634$6,799
6 years$8,653$8,156$7,688$7,247$6,831$5,095
7 years$7,342$6,849$6,389$5,958$5,556$3,917
8 years$6,360$5,871$5,418$4,998$4,609$3,067
9 years$5,596$5,112$4,666$4,257$3,882$2,433
10 years$4,985$4,506$4,068$3,670$3,307$1,949
11 years$4,486$4,011$3,582$3,194$2,844$1,574
12 years$4,070$3,600$3,179$2,801$2,465$1,278
13 years$3,718$3,254$2,840$2,473$2,149$1,043
14 years$3,417$2,958$2,552$2,195$1,884$855
15 years$3,156$2,702$2,304$1,958$1,659$702
16 years$2,928$2,479$2,089$1,753$1,466$579
17 years$2,728$2,283$1,901$1,575$1,300$478
18 years$2,549$2,109$1,735$1,420$1,156$395
19 years$2,390$1,955$1,588$1,283$1,030$327
20 years$2,247$1,817$1,458$1,162$920$271
21 years$2,117$1,692$1,341$1,054$824$225
22 years$2,000$1,580$1,236$959$738$187
23 years$1,892$1,477$1,141$873$663$155
24 years$1,794$1,384$1,055$796$596$129
25 years$1,704$1,299$977$727$536$107
26 years$1,621$1,221$906$665$483$89
27 years$1,544$1,149$842$609$435$74
28 years$1,473$1,083$783$558$393$62
29 years$1,407$1,021$728$511$355$51
30 years$1,346$965$678$469$320$43
31 years$1,288$912$632$431$290$36
32 years$1,234$863$590$396$262$30
33 years$1,184$817$551$364$237$25
34 years$1,136$774$515$335$215$21
35 years$1,092$735$481$309$194$17
36 years$1,050$697$450$284$176$14
37 years$1,010$662$421$262$160$12
38 years$973$629$395$241$145$10
39 years$937$598$370$222$131$8
40 years$904$569$346$205$119$7
41 years$872$542$325$189$108$6
42 years$842$516$305$175$98$5
43 years$813$492$286$161$89$4
44 years$785$469$268$149$81$3
45 years$759$447$252$138$73$3
46 years$734$426$237$127$67$2
47 years$711$407$222$117$60$2
48 years$688$388$209$108$55$2
49 years$666$371$196$100$50$1
50 years$645$354$185$93$45$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $661,000, adding $4,200 every year, while hoping to spend $23,872 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: 71/7/22 Blend
57$661,000$661,000$661,000$661,000
58$732,754$697,721$687,476$780,506
59$782,096$706,510$685,107$821,693
60$835,670$714,929$681,858$863,556
61$893,883$722,936$677,675$908,809
62$957,183$730,483$672,501$957,785
63$1,026,061$737,523$666,275$1,010,851
64$1,101,059$744,001$658,936$1,068,413
65$1,182,773$749,863$650,415$1,130,918
66$1,271,857$755,048$640,646$1,198,860
67$1,369,034$759,493$629,556$1,272,781
68$1,475,098$763,130$617,068$1,353,280
69$1,590,923$765,888$603,104$1,441,019
70$1,717,471$767,691$587,582$1,536,727
71$1,855,801$768,456$570,414$1,641,205
72$2,007,080$768,098$551,511$1,755,341
73$2,172,592$766,524$530,776$1,880,111
74$2,353,752$763,639$508,112$2,016,592
75$2,552,115$759,338$483,415$2,165,970
76$2,769,398$753,512$456,576$2,329,555
77$3,007,487$746,046$427,482$2,508,791
78$3,268,464$736,815$396,016$2,705,269
79$3,554,618$725,690$362,053$2,920,742
80$3,868,472$712,531$325,465$3,157,146
81$4,212,805$697,194$286,116$3,416,614
82$4,590,676$679,522$243,867$3,701,496
83$5,005,458$659,351$198,569$4,014,385
84$5,460,863$636,507$150,069$4,358,138
85$5,960,982$610,807$98,208$4,735,907
86$6,510,321$582,056$42,817$5,151,165
87$7,113,845$550,047$0$5,607,740
88$7,777,021$514,564$0$6,113,681
89$8,505,874$475,375$0$6,680,789
90$9,307,042$432,237$0$7,304,179
91$10,187,836$384,892$0$7,989,552
92$11,156,313$333,069$0$8,743,191
93$12,221,348$276,481$0$9,572,019
94$13,392,720$214,823$0$10,483,665
95$14,681,203$147,774$0$11,486,535
96$16,098,667$74,997$0$12,589,892
97$17,658,192$0$0$13,803,941
98$19,374,189$0$0$15,140,229
99$21,262,536$0$0$16,617,125
100$23,340,728$0$0$18,242,542