Can I retire at age 58 with 673,000?

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 $673,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$55,576$55,081$54,598$54,126$53,666$51,721
2 years$27,513$27,000$26,504$26,022$25,555$23,617
3 years$18,160$17,645$17,150$16,673$16,213$14,343
4 years$13,484$12,971$12,481$12,012$11,563$9,775
5 years$10,679$10,169$9,685$9,226$8,790$7,088
6 years$8,810$8,304$7,827$7,378$6,956$5,341
7 years$7,476$6,974$6,504$6,066$5,657$4,130
8 years$6,475$5,978$5,516$5,089$4,693$3,252
9 years$5,697$5,205$4,751$4,334$3,952$2,596
10 years$5,076$4,588$4,142$3,736$3,367$2,093
11 years$4,567$4,084$3,647$3,252$2,896$1,701
12 years$4,144$3,666$3,236$2,852$2,510$1,391
13 years$3,786$3,313$2,891$2,518$2,188$1,143
14 years$3,479$3,011$2,598$2,235$1,918$943
15 years$3,214$2,751$2,346$1,993$1,689$781
16 years$2,982$2,524$2,127$1,785$1,493$648
17 years$2,777$2,324$1,935$1,604$1,324$539
18 years$2,596$2,148$1,767$1,445$1,177$449
19 years$2,433$1,991$1,617$1,306$1,049$374
20 years$2,287$1,850$1,484$1,183$937$313
21 years$2,155$1,723$1,365$1,073$838$261
22 years$2,036$1,608$1,258$976$752$219
23 years$1,927$1,504$1,162$889$675$183
24 years$1,827$1,409$1,074$811$606$153
25 years$1,735$1,323$995$740$546$129
26 years$1,651$1,243$923$677$492$108
27 years$1,572$1,170$857$620$443$90
28 years$1,500$1,102$797$568$400$76
29 years$1,433$1,040$741$521$361$64
30 years$1,370$982$691$478$326$54
31 years$1,311$928$644$439$295$45
32 years$1,257$878$601$403$267$38
33 years$1,205$832$561$371$241$32
34 years$1,157$788$524$341$219$27
35 years$1,112$748$490$314$198$22
36 years$1,069$710$458$289$179$19
37 years$1,029$674$429$267$163$16
38 years$990$641$402$246$147$13
39 years$954$609$376$227$134$11
40 years$920$580$353$209$121$9
41 years$888$552$331$193$110$8
42 years$857$525$310$178$100$7
43 years$828$501$291$164$91$6
44 years$800$477$273$152$82$5
45 years$773$455$257$140$75$4
46 years$748$434$241$129$68$3
47 years$723$414$226$120$62$3
48 years$700$396$213$110$56$2
49 years$678$378$200$102$51$2
50 years$657$361$188$94$46$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $673,000, adding $4,776 every year, while hoping to spend $50,963 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: 79/5/16 Blend
57$673,000$673,000$673,000$673,000
58$746,572$710,903$700,472$802,633
59$768,499$691,513$669,714$820,846
60$790,953$669,465$636,217$833,850
61$813,936$644,575$599,836$846,693
62$837,446$616,648$560,419$859,338
63$861,480$585,477$517,807$871,746
64$886,031$550,846$471,833$883,872
65$911,091$512,523$422,325$895,669
66$936,651$470,265$369,101$907,085
67$962,695$423,814$311,972$918,063
68$989,207$372,897$250,740$928,541
69$1,016,165$317,228$185,199$938,452
70$1,043,544$256,502$115,133$947,722
71$1,071,313$190,398$40,317$956,270
72$1,099,436$118,577$0$964,010
73$1,127,871$40,680$0$977,592
74$1,156,570$0$0$997,950
75$1,185,476$0$0$1,020,525
76$1,214,525$0$0$1,045,452
77$1,243,644$0$0$1,070,427
78$1,272,747$0$0$1,095,378
79$1,301,740$0$0$1,120,220
80$1,330,514$0$0$1,144,859
81$1,358,947$0$0$1,169,188
82$1,386,901$0$0$1,193,087
83$1,414,220$0$0$1,216,419
84$1,440,731$0$0$1,239,033
85$1,466,236$0$0$1,260,758
86$1,490,518$0$0$1,281,402
87$1,513,330$0$0$1,300,751
88$1,534,399$0$0$1,318,566
89$1,553,417$0$0$1,334,580
90$1,570,045$0$0$1,348,496
91$1,583,902$0$0$1,359,981
92$1,594,564$0$0$1,368,666
93$1,601,560$0$0$1,374,142
94$1,604,367$0$0$1,375,951
95$1,602,402$0$0$1,373,586
96$1,595,021$0$0$1,366,485
97$1,581,506$0$0$1,354,022
98$1,561,061$0$0$1,335,506
99$1,532,806$0$0$1,310,166
100$1,495,763$0$0$1,277,153