Can I retire at age 58 with 668,000?

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 $668,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$55,163$54,671$54,192$53,724$53,267$52,998
2 years$27,308$26,800$26,307$25,829$25,365$25,094
3 years$18,025$17,514$17,022$16,549$16,093$15,827
4 years$13,384$12,875$12,388$11,923$11,478$11,220
5 years$10,600$10,094$9,613$9,158$8,725$8,476
6 years$8,745$8,242$7,769$7,323$6,904$6,664
7 years$7,420$6,922$6,456$6,021$5,615$5,384
8 years$6,427$5,933$5,475$5,051$4,658$4,436
9 years$5,655$5,166$4,716$4,302$3,923$3,710
10 years$5,038$4,554$4,111$3,709$3,342$3,139
11 years$4,533$4,054$3,620$3,228$2,874$2,680
12 years$4,113$3,639$3,212$2,831$2,491$2,305
13 years$3,758$3,288$2,870$2,499$2,172$1,995
14 years$3,453$2,989$2,579$2,219$1,904$1,735
15 years$3,190$2,730$2,328$1,979$1,677$1,516
16 years$2,959$2,505$2,111$1,772$1,482$1,329
17 years$2,756$2,307$1,921$1,592$1,314$1,169
18 years$2,576$2,132$1,753$1,435$1,168$1,031
19 years$2,415$1,976$1,605$1,296$1,041$911
20 years$2,270$1,836$1,473$1,174$930$807
21 years$2,139$1,710$1,355$1,065$832$716
22 years$2,021$1,596$1,249$969$746$636
23 years$1,912$1,493$1,153$882$670$566
24 years$1,813$1,399$1,066$805$602$504
25 years$1,722$1,313$988$735$542$449
26 years$1,638$1,234$916$672$488$401
27 years$1,561$1,161$851$615$440$358
28 years$1,489$1,094$791$564$397$320
29 years$1,422$1,032$736$517$358$286
30 years$1,360$975$685$474$324$256
31 years$1,302$922$639$436$293$229
32 years$1,247$872$596$400$265$206
33 years$1,196$826$557$368$240$184
34 years$1,148$783$520$339$217$165
35 years$1,103$742$486$312$197$148
36 years$1,061$705$455$287$178$133
37 years$1,021$669$426$265$161$119
38 years$983$636$399$244$146$107
39 years$947$605$374$225$133$96
40 years$913$575$350$207$120$86
41 years$881$548$328$191$109$77
42 years$850$522$308$177$99$70
43 years$821$497$289$163$90$62
44 years$794$474$271$151$82$56
45 years$767$452$255$139$74$50
46 years$742$431$239$128$67$45
47 years$718$411$225$119$61$41
48 years$695$393$211$110$55$37
49 years$673$375$199$101$50$33
50 years$652$358$187$94$46$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $668,000, adding $3,753 every year, while hoping to spend $38,424 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$668,000$668,000$668,000$668,000
58$740,007$704,603$694,249$782,361
59$774,605$698,246$676,624$804,857
60$811,444$690,289$657,120$824,662
61$850,712$680,614$635,634$845,294
62$892,616$669,095$612,059$866,833
63$937,380$655,598$586,280$889,371
64$985,252$639,982$558,180$913,009
65$1,036,504$622,097$527,635$937,862
66$1,091,432$601,784$494,515$964,057
67$1,150,362$578,876$458,686$991,737
68$1,213,653$553,195$420,006$1,021,060
69$1,281,697$524,553$378,327$1,052,205
70$1,354,925$492,751$333,497$1,085,370
71$1,433,812$457,580$285,353$1,120,777
72$1,518,876$418,817$233,728$1,158,672
73$1,610,690$376,227$178,446$1,199,331
74$1,709,880$329,563$119,324$1,243,059
75$1,817,138$278,561$56,171$1,290,199
76$1,933,220$222,945$0$1,341,130
77$2,058,961$162,422$0$1,397,113
78$2,195,277$96,682$0$1,462,312
79$2,343,175$25,400$0$1,533,065
80$2,503,765$0$0$1,609,970
81$2,678,265$0$0$1,713,059
82$2,868,016$0$0$1,835,540
83$3,074,493$0$0$1,968,868
84$3,299,320$0$0$2,114,098
85$3,544,284$0$0$2,272,390
86$3,811,349$0$0$2,445,022
87$4,102,679$0$0$2,633,398
88$4,420,656$0$0$2,839,067
89$4,767,902$0$0$3,063,731
90$5,147,301$0$0$3,309,267
91$5,562,030$0$0$3,577,737
92$6,015,588$0$0$3,871,416
93$6,511,825$0$0$4,192,806
94$7,054,981$0$0$4,544,662
95$7,649,726$0$0$4,930,019
96$8,301,202$0$0$5,352,220
97$9,015,072$0$0$5,814,945
98$9,797,571$0$0$6,322,246
99$10,655,568$0$0$6,878,589
100$11,596,629$0$0$7,488,890