Can I retire at age 58 with 671,000?

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 $671,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$55,411$54,917$54,435$53,965$53,506$52,685
2 years$27,431$26,920$26,425$25,945$25,479$24,654
3 years$18,106$17,593$17,099$16,623$16,165$15,361
4 years$13,444$12,932$12,443$11,976$11,529$10,753
5 years$10,648$10,139$9,657$9,199$8,764$8,018
6 years$8,784$8,279$7,804$7,356$6,935$6,219
7 years$7,453$6,953$6,485$6,048$5,640$4,955
8 years$6,456$5,960$5,500$5,074$4,679$4,025
9 years$5,680$5,189$4,737$4,322$3,940$3,317
10 years$5,060$4,574$4,130$3,725$3,357$2,765
11 years$4,554$4,072$3,636$3,242$2,887$2,324
12 years$4,131$3,655$3,227$2,844$2,502$1,968
13 years$3,774$3,303$2,883$2,511$2,182$1,676
14 years$3,469$3,002$2,590$2,229$1,913$1,434
15 years$3,204$2,743$2,339$1,988$1,684$1,231
16 years$2,973$2,516$2,120$1,780$1,488$1,061
17 years$2,769$2,317$1,929$1,599$1,320$917
18 years$2,588$2,141$1,761$1,441$1,173$794
19 years$2,426$1,985$1,612$1,302$1,046$690
20 years$2,281$1,844$1,480$1,179$934$600
21 years$2,149$1,718$1,361$1,070$836$522
22 years$2,030$1,604$1,254$973$749$455
23 years$1,921$1,500$1,158$886$673$397
24 years$1,821$1,405$1,071$808$605$347
25 years$1,730$1,319$992$738$544$304
26 years$1,646$1,239$920$675$490$266
27 years$1,568$1,166$854$618$442$233
28 years$1,496$1,099$794$566$399$204
29 years$1,428$1,037$739$519$360$179
30 years$1,366$979$689$476$325$157
31 years$1,307$926$642$438$294$137
32 years$1,253$876$599$402$266$121
33 years$1,202$829$559$370$241$106
34 years$1,154$786$522$340$218$93
35 years$1,108$746$488$313$197$82
36 years$1,066$708$457$288$179$72
37 years$1,025$672$428$266$162$63
38 years$987$639$401$245$147$55
39 years$951$607$375$226$133$49
40 years$917$578$352$208$121$43
41 years$885$550$330$192$110$38
42 years$854$524$309$177$100$33
43 years$825$499$290$164$90$29
44 years$797$476$273$151$82$25
45 years$771$454$256$140$74$22
46 years$745$433$240$129$68$20
47 years$721$413$226$119$61$17
48 years$698$394$212$110$56$15
49 years$676$377$199$102$51$13
50 years$655$360$187$94$46$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $671,000, adding $6,940 every year, while hoping to spend $52,649 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: 68/12/20 Blend
57$671,000$671,000$671,000$671,000
58$746,601$711,038$700,637$793,213
59$766,736$689,860$668,090$804,085
60$787,160$665,881$632,689$809,199
61$807,848$638,906$594,281$813,516
62$828,768$608,732$552,709$816,955
63$849,885$575,143$507,808$819,429
64$871,159$537,910$459,405$820,843
65$892,542$496,793$407,320$821,093
66$913,980$451,535$351,364$820,070
67$935,413$401,867$291,342$817,651
68$956,771$347,504$227,047$813,708
69$977,974$288,145$158,266$808,099
70$998,934$223,470$84,774$800,671
71$1,019,550$153,145$6,339$791,258
72$1,039,708$76,813$0$779,680
73$1,059,282$0$0$782,252
74$1,078,129$0$0$785,549
75$1,096,087$0$0$798,303
76$1,112,980$0$0$810,235
77$1,128,605$0$0$821,195
78$1,142,741$0$0$831,014
79$1,155,138$0$0$839,507
80$1,165,518$0$0$846,463
81$1,173,572$0$0$851,650
82$1,178,957$0$0$854,810
83$1,181,290$0$0$855,656
84$1,180,146$0$0$853,867
85$1,175,054$0$0$849,092
86$1,165,491$0$0$840,934
87$1,150,875$0$0$828,960
88$1,130,564$0$0$812,686
89$1,103,843$0$0$791,575
90$1,069,922$0$0$765,035
91$1,027,926$0$0$732,408
92$976,887$0$0$692,968
93$915,731$0$0$645,909
94$843,271$0$0$590,342
95$758,196$0$0$525,280
96$659,054$0$0$449,637
97$544,241$0$0$362,207
98$411,983$0$0$261,660
99$260,319$0$0$146,527
100$87,085$0$0$15,183