Can I retire at age 58 with 672,000?

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 $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%13.9%
1 years$55,493$54,999$54,517$54,046$53,586$52,720
2 years$27,472$26,960$26,464$25,984$25,517$24,647
3 years$18,133$17,619$17,124$16,648$16,189$15,342
4 years$13,464$12,952$12,462$11,994$11,546$10,729
5 years$10,663$10,154$9,671$9,212$8,777$7,992
6 years$8,797$8,292$7,816$7,367$6,945$6,192
7 years$7,464$6,963$6,495$6,057$5,648$4,928
8 years$6,465$5,969$5,508$5,081$4,686$3,999
9 years$5,689$5,197$4,744$4,328$3,946$3,292
10 years$5,068$4,581$4,136$3,731$3,362$2,740
11 years$4,560$4,078$3,641$3,247$2,892$2,300
12 years$4,138$3,660$3,232$2,848$2,506$1,945
13 years$3,780$3,308$2,887$2,514$2,185$1,654
14 years$3,474$3,007$2,594$2,232$1,916$1,413
15 years$3,209$2,747$2,342$1,990$1,687$1,212
16 years$2,977$2,520$2,124$1,782$1,491$1,043
17 years$2,773$2,321$1,932$1,601$1,322$900
18 years$2,592$2,145$1,764$1,443$1,175$779
19 years$2,430$1,988$1,615$1,304$1,047$675
20 years$2,284$1,847$1,482$1,181$936$586
21 years$2,152$1,720$1,363$1,072$837$510
22 years$2,033$1,606$1,256$975$750$444
23 years$1,924$1,502$1,160$888$674$387
24 years$1,824$1,407$1,073$809$606$337
25 years$1,733$1,321$994$739$545$294
26 years$1,648$1,241$922$676$491$257
27 years$1,570$1,168$856$619$442$225
28 years$1,498$1,101$796$567$399$197
29 years$1,431$1,038$740$520$361$172
30 years$1,368$981$690$477$326$151
31 years$1,309$927$643$438$295$132
32 years$1,255$877$600$403$266$116
33 years$1,203$831$560$370$241$101
34 years$1,155$787$523$341$218$89
35 years$1,110$747$489$314$198$78
36 years$1,067$709$458$289$179$68
37 years$1,027$673$428$266$162$60
38 years$989$640$401$245$147$53
39 years$953$608$376$226$133$46
40 years$919$579$352$209$121$40
41 years$886$551$330$192$110$35
42 years$856$525$310$178$100$31
43 years$826$500$291$164$90$27
44 years$798$477$273$151$82$24
45 years$772$454$256$140$75$21
46 years$747$434$241$129$68$18
47 years$722$414$226$119$61$16
48 years$699$395$212$110$56$14
49 years$677$377$200$102$51$12
50 years$656$360$188$94$46$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $672,000, adding $6,085 every year, while hoping to spend $47,012 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: 50/29/21 Blend
57$672,000$672,000$672,000$672,000
58$746,821$711,205$700,789$779,496
59$772,976$696,033$674,245$787,598
60$800,223$678,543$645,236$791,109
61$828,625$658,570$613,630$793,940
62$858,247$635,942$579,289$796,046
63$889,161$610,476$542,068$797,379
64$921,445$581,979$501,816$797,891
65$955,181$550,245$458,376$797,531
66$990,461$515,058$411,583$796,248
67$1,027,382$476,190$361,265$793,988
68$1,066,049$433,398$307,242$790,696
69$1,106,577$386,425$249,326$786,319
70$1,149,091$335,003$187,321$780,798
71$1,193,725$278,845$121,023$774,079
72$1,240,625$217,649$50,217$766,102
73$1,289,951$151,096$0$756,812
74$1,341,876$78,849$0$751,828
75$1,396,589$554$0$757,793
76$1,454,294$0$0$763,441
77$1,515,215$0$0$795,634
78$1,579,597$0$0$829,872
79$1,647,705$0$0$866,124
80$1,719,831$0$0$904,550
81$1,796,291$0$0$945,322
82$1,877,433$0$0$988,632
83$1,963,636$0$0$1,034,686
84$2,055,315$0$0$1,083,712
85$2,152,924$0$0$1,135,958
86$2,256,960$0$0$1,191,697
87$2,367,967$0$0$1,251,228
88$2,486,543$0$0$1,314,877
89$2,613,339$0$0$1,383,003
90$2,749,074$0$0$1,455,999
91$2,894,533$0$0$1,534,296
92$3,050,578$0$0$1,618,369
93$3,218,154$0$0$1,708,734
94$3,398,301$0$0$1,805,964
95$3,592,157$0$0$1,910,684
96$3,800,974$0$0$2,023,582
97$4,026,127$0$0$2,145,412
98$4,269,125$0$0$2,277,005
99$4,531,627$0$0$2,419,273
100$4,815,457$0$0$2,573,217