Can I retire at age 58 with 673,000?

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 $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%15.3%
1 years$55,576$55,081$54,598$54,126$53,666$52,497
2 years$27,513$27,000$26,504$26,022$25,555$24,383
3 years$18,160$17,645$17,150$16,673$16,213$15,075
4 years$13,484$12,971$12,481$12,012$11,563$10,467
5 years$10,679$10,169$9,685$9,226$8,790$7,740
6 years$8,810$8,304$7,827$7,378$6,956$5,952
7 years$7,476$6,974$6,504$6,066$5,657$4,700
8 years$6,475$5,978$5,516$5,089$4,693$3,783
9 years$5,697$5,205$4,751$4,334$3,952$3,088
10 years$5,076$4,588$4,142$3,736$3,367$2,548
11 years$4,567$4,084$3,647$3,252$2,896$2,121
12 years$4,144$3,666$3,236$2,852$2,510$1,777
13 years$3,786$3,313$2,891$2,518$2,188$1,497
14 years$3,479$3,011$2,598$2,235$1,918$1,267
15 years$3,214$2,751$2,346$1,993$1,689$1,076
16 years$2,982$2,524$2,127$1,785$1,493$917
17 years$2,777$2,324$1,935$1,604$1,324$784
18 years$2,596$2,148$1,767$1,445$1,177$671
19 years$2,433$1,991$1,617$1,306$1,049$576
20 years$2,287$1,850$1,484$1,183$937$495
21 years$2,155$1,723$1,365$1,073$838$425
22 years$2,036$1,608$1,258$976$752$366
23 years$1,927$1,504$1,162$889$675$316
24 years$1,827$1,409$1,074$811$606$273
25 years$1,735$1,323$995$740$546$235
26 years$1,651$1,243$923$677$492$203
27 years$1,572$1,170$857$620$443$176
28 years$1,500$1,102$797$568$400$152
29 years$1,433$1,040$741$521$361$131
30 years$1,370$982$691$478$326$114
31 years$1,311$928$644$439$295$98
32 years$1,257$878$601$403$267$85
33 years$1,205$832$561$371$241$74
34 years$1,157$788$524$341$219$64
35 years$1,112$748$490$314$198$55
36 years$1,069$710$458$289$179$48
37 years$1,029$674$429$267$163$42
38 years$990$641$402$246$147$36
39 years$954$609$376$227$134$31
40 years$920$580$353$209$121$27
41 years$888$552$331$193$110$24
42 years$857$525$310$178$100$20
43 years$828$501$291$164$91$18
44 years$800$477$273$152$82$15
45 years$773$455$257$140$75$13
46 years$748$434$241$129$68$12
47 years$723$414$226$120$62$10
48 years$700$396$213$110$56$9
49 years$678$378$200$102$51$8
50 years$657$361$188$94$46$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $673,000, adding $6,348 every year, while hoping to spend $41,060 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: 77/14/9 Blend
57$673,000$673,000$673,000$673,000
58$748,194$712,525$702,093$804,240
59$780,822$703,751$681,926$833,204
60$815,402$693,171$659,707$859,048
61$852,090$680,654$635,324$886,198
62$891,056$666,058$608,660$914,768
63$932,486$649,237$579,592$944,882
64$976,584$630,034$547,993$976,679
65$1,023,573$608,283$513,728$1,010,312
66$1,073,697$583,809$476,658$1,045,949
67$1,127,224$556,425$436,636$1,083,775
68$1,184,447$525,936$393,509$1,123,998
69$1,245,688$492,134$347,119$1,166,845
70$1,311,298$454,799$297,297$1,212,567
71$1,381,665$413,699$243,872$1,261,442
72$1,457,213$368,588$186,659$1,313,778
73$1,538,408$319,208$125,471$1,369,913
74$1,625,759$265,283$60,109$1,430,223
75$1,719,830$206,525$0$1,495,123
76$1,821,235$142,627$0$1,565,996
77$1,930,652$73,267$0$1,648,644
78$2,048,824$0$0$1,737,868
79$2,176,570$0$0$1,834,603
80$2,314,786$0$0$1,951,497
81$2,464,461$0$0$2,078,103
82$2,626,680$0$0$2,215,340
83$2,802,637$0$0$2,364,221
84$2,993,645$0$0$2,525,860
85$3,201,148$0$0$2,701,482
86$3,426,733$0$0$2,892,433
87$3,672,149$0$0$3,100,197
88$3,939,318$0$0$3,326,404
89$4,230,356$0$0$3,572,848
90$4,547,589$0$0$3,841,505
91$4,893,582$0$0$4,134,549
92$5,271,153$0$0$4,454,370
93$5,683,406$0$0$4,803,604
94$6,133,760$0$0$5,185,148
95$6,625,974$0$0$5,602,195
96$7,164,192$0$0$6,058,257
97$7,752,972$0$0$6,557,204
98$8,397,336$0$0$7,103,296
99$9,102,812$0$0$7,701,222
100$9,875,489$0$0$8,356,148