Can I retire at age 58 with 674,000?

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 $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%13.6%
1 years$55,658$55,163$54,679$54,207$53,746$52,943
2 years$27,554$27,040$26,543$26,061$25,593$24,786
3 years$18,187$17,671$17,175$16,697$16,237$15,451
4 years$13,504$12,990$12,499$12,030$11,581$10,821
5 years$10,695$10,184$9,700$9,240$8,803$8,073
6 years$8,823$8,316$7,839$7,389$6,966$6,266
7 years$7,487$6,984$6,514$6,075$5,665$4,995
8 years$6,485$5,987$5,525$5,096$4,700$4,060
9 years$5,706$5,212$4,758$4,341$3,958$3,348
10 years$5,083$4,595$4,148$3,742$3,372$2,792
11 years$4,574$4,090$3,652$3,257$2,900$2,348
12 years$4,150$3,671$3,241$2,856$2,513$1,990
13 years$3,791$3,318$2,896$2,522$2,192$1,695
14 years$3,484$3,016$2,602$2,239$1,921$1,451
15 years$3,218$2,755$2,349$1,996$1,692$1,248
16 years$2,986$2,528$2,130$1,788$1,495$1,076
17 years$2,781$2,328$1,938$1,606$1,326$930
18 years$2,599$2,151$1,769$1,447$1,179$807
19 years$2,437$1,993$1,620$1,308$1,051$701
20 years$2,291$1,852$1,486$1,185$938$610
21 years$2,159$1,725$1,367$1,075$840$531
22 years$2,039$1,611$1,260$977$753$464
23 years$1,930$1,506$1,163$890$676$405
24 years$1,830$1,411$1,076$812$607$354
25 years$1,738$1,325$997$741$546$310
26 years$1,653$1,245$924$678$492$271
27 years$1,575$1,172$858$621$444$238
28 years$1,502$1,104$798$569$400$209
29 years$1,435$1,041$743$521$362$183
30 years$1,372$984$692$479$327$161
31 years$1,313$930$645$439$295$141
32 years$1,258$880$602$404$267$124
33 years$1,207$833$562$371$242$109
34 years$1,159$790$525$342$219$96
35 years$1,113$749$491$315$198$84
36 years$1,070$711$459$290$180$74
37 years$1,030$675$430$267$163$65
38 years$992$642$402$246$148$57
39 years$956$610$377$227$134$50
40 years$921$581$353$209$121$44
41 years$889$553$331$193$110$39
42 years$858$526$311$178$100$34
43 years$829$501$292$164$91$30
44 years$801$478$274$152$82$26
45 years$774$456$257$140$75$23
46 years$749$435$241$130$68$20
47 years$725$415$227$120$62$18
48 years$701$396$213$111$56$16
49 years$679$378$200$102$51$14
50 years$658$361$188$94$46$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $674,000, adding $6,309 every year, while hoping to spend $51,105 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: 48/35/17 Blend
57$674,000$674,000$674,000$674,000
58$749,256$713,534$703,087$781,362
59$771,304$694,122$672,265$784,854
60$793,889$672,045$638,698$782,921
61$817,011$647,121$602,239$779,721
62$840,669$619,152$562,737$775,157
63$864,860$587,934$520,031$769,123
64$889,580$553,246$473,956$761,507
65$914,820$514,859$424,337$752,191
66$940,572$472,527$370,993$741,046
67$966,823$425,993$313,733$727,940
68$993,556$374,984$252,361$712,727
69$1,020,752$319,211$186,668$695,256
70$1,048,386$258,370$116,438$675,364
71$1,076,429$192,138$41,447$652,879
72$1,104,848$120,176$0$627,615
73$1,133,602$42,124$0$606,376
74$1,162,645$0$0$590,432
75$1,191,923$0$0$588,410
76$1,221,374$0$0$602,663
77$1,250,927$0$0$616,929
78$1,280,501$0$0$631,162
79$1,310,004$0$0$645,313
80$1,339,331$0$0$659,326
81$1,368,364$0$0$673,136
82$1,396,970$0$0$686,671
83$1,424,999$0$0$699,851
84$1,452,280$0$0$712,583
85$1,478,626$0$0$724,767
86$1,503,822$0$0$736,288
87$1,527,631$0$0$747,018
88$1,549,787$0$0$756,815
89$1,569,992$0$0$765,519
90$1,587,916$0$0$772,954
91$1,603,187$0$0$778,922
92$1,615,396$0$0$783,204
93$1,624,083$0$0$785,554
94$1,628,740$0$0$785,701
95$1,628,800$0$0$783,344
96$1,623,635$0$0$778,148
97$1,612,548$0$0$769,741
98$1,594,763$0$0$757,712
99$1,569,423$0$0$741,604
100$1,535,577$0$0$720,911