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%16.5%
1 years$55,411$54,917$54,435$53,965$53,506$52,086
2 years$27,431$26,920$26,425$25,945$25,479$24,058
3 years$18,106$17,593$17,099$16,623$16,165$14,788
4 years$13,444$12,932$12,443$11,976$11,529$10,206
5 years$10,648$10,139$9,657$9,199$8,764$7,499
6 years$8,784$8,279$7,804$7,356$6,935$5,729
7 years$7,453$6,953$6,485$6,048$5,640$4,493
8 years$6,456$5,960$5,500$5,074$4,679$3,591
9 years$5,680$5,189$4,737$4,322$3,940$2,910
10 years$5,060$4,574$4,130$3,725$3,357$2,384
11 years$4,554$4,072$3,636$3,242$2,887$1,969
12 years$4,131$3,655$3,227$2,844$2,502$1,637
13 years$3,774$3,303$2,883$2,511$2,182$1,368
14 years$3,469$3,002$2,590$2,229$1,913$1,148
15 years$3,204$2,743$2,339$1,988$1,684$967
16 years$2,973$2,516$2,120$1,780$1,488$817
17 years$2,769$2,317$1,929$1,599$1,320$692
18 years$2,588$2,141$1,761$1,441$1,173$588
19 years$2,426$1,985$1,612$1,302$1,046$500
20 years$2,281$1,844$1,480$1,179$934$425
21 years$2,149$1,718$1,361$1,070$836$362
22 years$2,030$1,604$1,254$973$749$309
23 years$1,921$1,500$1,158$886$673$264
24 years$1,821$1,405$1,071$808$605$226
25 years$1,730$1,319$992$738$544$193
26 years$1,646$1,239$920$675$490$165
27 years$1,568$1,166$854$618$442$141
28 years$1,496$1,099$794$566$399$121
29 years$1,428$1,037$739$519$360$104
30 years$1,366$979$689$476$325$89
31 years$1,307$926$642$438$294$76
32 years$1,253$876$599$402$266$65
33 years$1,202$829$559$370$241$56
34 years$1,154$786$522$340$218$48
35 years$1,108$746$488$313$197$41
36 years$1,066$708$457$288$179$35
37 years$1,025$672$428$266$162$30
38 years$987$639$401$245$147$26
39 years$951$607$375$226$133$22
40 years$917$578$352$208$121$19
41 years$885$550$330$192$110$16
42 years$854$524$309$177$100$14
43 years$825$499$290$164$90$12
44 years$797$476$273$151$82$10
45 years$771$454$256$140$74$9
46 years$745$433$240$129$68$8
47 years$721$413$226$119$61$7
48 years$698$394$212$110$56$6
49 years$676$377$199$102$51$5
50 years$655$360$187$94$46$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $671,000, adding $4,053 every year, while hoping to spend $21,539 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: 64/8/28 Blend
57$671,000$671,000$671,000$671,000
58$743,623$708,060$697,659$785,443
59$796,555$719,837$698,113$826,024
60$854,164$731,470$697,861$867,614
61$916,905$742,928$696,855$912,593
62$985,277$754,180$695,048$961,297
63$1,059,832$765,190$692,388$1,014,095
64$1,141,173$775,923$688,822$1,071,396
65$1,229,968$786,339$684,293$1,133,651
66$1,326,951$796,396$678,742$1,201,357
67$1,432,929$806,048$672,109$1,275,063
68$1,548,791$815,248$664,329$1,355,371
69$1,675,518$823,945$655,333$1,442,951
70$1,814,186$832,083$645,052$1,538,536
71$1,965,982$839,605$633,411$1,642,937
72$2,132,215$846,448$620,333$1,757,050
73$2,314,323$852,546$605,736$1,881,859
74$2,513,891$857,829$589,536$2,018,454
75$2,732,666$862,220$571,643$2,168,033
76$2,972,571$865,641$551,966$2,331,918
77$3,235,722$868,007$530,406$2,511,569
78$3,524,454$869,227$506,862$2,708,594
79$3,841,334$869,206$481,229$2,924,766
80$4,189,194$867,841$453,394$3,162,041
81$4,571,152$865,024$423,242$3,422,575
82$4,990,640$860,642$390,652$3,708,746
83$5,451,444$854,571$355,496$4,023,174
84$5,957,729$846,684$317,644$4,368,751
85$6,514,088$836,842$276,956$4,748,663
86$7,125,579$824,901$233,288$5,166,424
87$7,797,775$810,707$186,489$5,625,907
88$8,536,813$794,098$136,402$6,131,383
89$9,349,460$774,900$82,863$6,687,562
90$10,243,166$752,931$25,700$7,299,633
91$11,226,141$727,998$0$7,973,320
92$12,307,433$699,895$0$8,725,478
93$13,497,007$668,406$0$9,561,395
94$14,805,846$633,302$0$10,481,110
95$16,246,049$594,341$0$11,493,136
96$17,830,948$551,265$0$12,606,854
97$19,575,233$503,805$0$13,832,601
98$21,495,088$451,673$0$15,181,767
99$23,608,350$394,567$0$16,666,905
100$25,934,667$332,167$0$18,301,848