Can I retire at age 58 with 672,000?

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 $672,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$55,493$54,999$54,517$54,046$53,586$53,249
2 years$27,472$26,960$26,464$25,984$25,517$25,177
3 years$18,133$17,619$17,124$16,648$16,189$15,856
4 years$13,464$12,952$12,462$11,994$11,546$11,223
5 years$10,663$10,154$9,671$9,212$8,777$8,466
6 years$8,797$8,292$7,816$7,367$6,945$6,645
7 years$7,464$6,963$6,495$6,057$5,648$5,360
8 years$6,465$5,969$5,508$5,081$4,686$4,409
9 years$5,689$5,197$4,744$4,328$3,946$3,681
10 years$5,068$4,581$4,136$3,731$3,362$3,108
11 years$4,560$4,078$3,641$3,247$2,892$2,649
12 years$4,138$3,660$3,232$2,848$2,506$2,274
13 years$3,780$3,308$2,887$2,514$2,185$1,965
14 years$3,474$3,007$2,594$2,232$1,916$1,706
15 years$3,209$2,747$2,342$1,990$1,687$1,487
16 years$2,977$2,520$2,124$1,782$1,491$1,301
17 years$2,773$2,321$1,932$1,601$1,322$1,142
18 years$2,592$2,145$1,764$1,443$1,175$1,005
19 years$2,430$1,988$1,615$1,304$1,047$886
20 years$2,284$1,847$1,482$1,181$936$783
21 years$2,152$1,720$1,363$1,072$837$693
22 years$2,033$1,606$1,256$975$750$614
23 years$1,924$1,502$1,160$888$674$545
24 years$1,824$1,407$1,073$809$606$485
25 years$1,733$1,321$994$739$545$431
26 years$1,648$1,241$922$676$491$384
27 years$1,570$1,168$856$619$442$342
28 years$1,498$1,101$796$567$399$305
29 years$1,431$1,038$740$520$361$272
30 years$1,368$981$690$477$326$243
31 years$1,309$927$643$438$295$217
32 years$1,255$877$600$403$266$194
33 years$1,203$831$560$370$241$173
34 years$1,155$787$523$341$218$155
35 years$1,110$747$489$314$198$139
36 years$1,067$709$458$289$179$124
37 years$1,027$673$428$266$162$111
38 years$989$640$401$245$147$99
39 years$953$608$376$226$133$89
40 years$919$579$352$209$121$80
41 years$886$551$330$192$110$71
42 years$856$525$310$178$100$64
43 years$826$500$291$164$90$57
44 years$798$477$273$151$82$51
45 years$772$454$256$140$75$46
46 years$747$434$241$129$68$41
47 years$722$414$226$119$61$37
48 years$699$395$212$110$56$33
49 years$677$377$200$102$51$30
50 years$656$360$188$94$46$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $672,000, adding $2,085 every year, while hoping to spend $37,258 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: 31/46/23 Blend
57$672,000$672,000$672,000$672,000
58$742,695$707,079$696,663$760,380
59$778,807$702,083$680,359$769,017
60$817,355$695,594$662,260$774,829
61$858,546$687,500$642,266$780,322
62$902,610$677,679$620,275$785,491
63$949,798$666,008$596,176$790,336
64$1,000,386$652,350$569,856$794,858
65$1,054,675$636,565$541,196$799,065
66$1,112,998$618,503$510,072$802,968
67$1,175,718$598,004$476,354$806,584
68$1,243,235$574,900$439,906$809,936
69$1,315,988$549,013$400,586$813,054
70$1,394,459$520,155$358,246$815,977
71$1,479,178$488,127$312,731$818,753
72$1,570,726$452,717$263,879$821,442
73$1,669,744$413,704$211,523$824,113
74$1,776,934$370,851$155,485$826,851
75$1,893,068$323,910$95,581$829,758
76$2,018,997$272,618$31,619$832,950
77$2,155,656$216,697$0$836,566
78$2,304,071$155,853$0$849,756
79$2,465,373$89,777$0$872,580
80$2,640,806$18,142$0$897,536
81$2,831,739$0$0$924,925
82$3,039,676$0$0$985,151
83$3,266,274$0$0$1,060,884
84$3,513,357$0$0$1,143,561
85$3,782,931$0$0$1,233,868
86$4,077,204$0$0$1,332,556
87$4,398,608$0$0$1,440,455
88$4,749,820$0$0$1,558,477
89$5,133,785$0$0$1,687,626
90$5,553,749$0$0$1,829,010
91$6,013,283$0$0$1,983,845
92$6,516,321$0$0$2,153,475
93$7,067,194$0$0$2,339,376
94$7,670,671$0$0$2,543,176
95$8,332,006$0$0$2,766,667
96$9,056,983$0$0$3,011,823
97$9,851,973$0$0$3,280,818
98$10,723,995$0$0$3,576,046
99$11,680,778$0$0$3,900,146
100$12,730,834$0$0$4,256,024