Can I retire at age 58 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$55,658$55,163$54,679$54,207$53,746$53,251
2 years$27,554$27,040$26,543$26,061$25,593$25,095
3 years$18,187$17,671$17,175$16,697$16,237$15,751
4 years$13,504$12,990$12,499$12,030$11,581$11,109
5 years$10,695$10,184$9,700$9,240$8,803$8,349
6 years$8,823$8,316$7,839$7,389$6,966$6,529
7 years$7,487$6,984$6,514$6,075$5,665$5,246
8 years$6,485$5,987$5,525$5,096$4,700$4,298
9 years$5,706$5,212$4,758$4,341$3,958$3,574
10 years$5,083$4,595$4,148$3,742$3,372$3,005
11 years$4,574$4,090$3,652$3,257$2,900$2,550
12 years$4,150$3,671$3,241$2,856$2,513$2,180
13 years$3,791$3,318$2,896$2,522$2,192$1,874
14 years$3,484$3,016$2,602$2,239$1,921$1,620
15 years$3,218$2,755$2,349$1,996$1,692$1,406
16 years$2,986$2,528$2,130$1,788$1,495$1,224
17 years$2,781$2,328$1,938$1,606$1,326$1,069
18 years$2,599$2,151$1,769$1,447$1,179$936
19 years$2,437$1,993$1,620$1,308$1,051$821
20 years$2,291$1,852$1,486$1,185$938$722
21 years$2,159$1,725$1,367$1,075$840$636
22 years$2,039$1,611$1,260$977$753$561
23 years$1,930$1,506$1,163$890$676$495
24 years$1,830$1,411$1,076$812$607$438
25 years$1,738$1,325$997$741$546$387
26 years$1,653$1,245$924$678$492$343
27 years$1,575$1,172$858$621$444$304
28 years$1,502$1,104$798$569$400$269
29 years$1,435$1,041$743$521$362$239
30 years$1,372$984$692$479$327$212
31 years$1,313$930$645$439$295$189
32 years$1,258$880$602$404$267$167
33 years$1,207$833$562$371$242$149
34 years$1,159$790$525$342$219$132
35 years$1,113$749$491$315$198$118
36 years$1,070$711$459$290$180$105
37 years$1,030$675$430$267$163$93
38 years$992$642$402$246$148$83
39 years$956$610$377$227$134$74
40 years$921$581$353$209$121$66
41 years$889$553$331$193$110$58
42 years$858$526$311$178$100$52
43 years$829$501$292$164$91$46
44 years$801$478$274$152$82$41
45 years$774$456$257$140$75$37
46 years$749$435$241$130$68$33
47 years$725$415$227$120$62$29
48 years$701$396$213$111$56$26
49 years$679$378$200$102$51$23
50 years$658$361$188$94$46$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $674,000, adding $6,834 every year, while hoping to spend $50,821 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: 44/29/27 Blend
57$674,000$674,000$674,000$674,000
58$749,797$714,075$703,628$776,654
59$772,203$694,992$673,127$777,366
60$795,192$673,270$639,900$772,749
61$818,768$648,727$603,803$766,762
62$842,936$621,169$564,685$759,305
63$867,701$590,391$522,387$750,274
64$893,063$556,177$476,743$739,558
65$919,023$518,297$427,582$727,039
66$945,579$476,509$374,722$712,593
67$972,728$430,558$317,975$696,087
68$1,000,463$380,172$257,143$677,382
69$1,028,775$325,065$192,023$656,328
70$1,057,653$264,936$122,398$632,767
71$1,087,080$199,464$48,044$606,534
72$1,117,037$128,313$0$577,451
73$1,147,501$51,126$0$554,348
74$1,178,442$0$0$543,365
75$1,209,828$0$0$540,871
76$1,241,617$0$0$554,843
77$1,273,763$0$0$568,944
78$1,306,211$0$0$583,144
79$1,338,898$0$0$597,411
80$1,371,752$0$0$611,710
81$1,404,690$0$0$625,998
82$1,437,618$0$0$640,229
83$1,470,429$0$0$654,347
84$1,503,000$0$0$668,294
85$1,535,196$0$0$681,999
86$1,566,860$0$0$695,388
87$1,597,820$0$0$708,372
88$1,627,877$0$0$720,856
89$1,656,814$0$0$732,730
90$1,684,384$0$0$743,873
91$1,710,310$0$0$754,149
92$1,734,286$0$0$763,408
93$1,755,968$0$0$771,479
94$1,774,972$0$0$778,175
95$1,790,871$0$0$783,286
96$1,803,189$0$0$786,579
97$1,811,398$0$0$787,795
98$1,814,909$0$0$786,647
99$1,813,068$0$0$782,813
100$1,805,151$0$0$775,941