Can I retire at age 58 with 676,000?

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 $676,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$55,823$55,326$54,841$54,368$53,905$53,276
2 years$27,635$27,121$26,622$26,138$25,669$25,036
3 years$18,241$17,724$17,226$16,747$16,286$15,668
4 years$13,544$13,029$12,536$12,065$11,615$11,017
5 years$10,727$10,215$9,729$9,267$8,830$8,254
6 years$8,849$8,341$7,862$7,411$6,987$6,434
7 years$7,509$7,005$6,533$6,093$5,682$5,152
8 years$6,504$6,004$5,541$5,111$4,714$4,207
9 years$5,723$5,228$4,772$4,354$3,970$3,485
10 years$5,098$4,608$4,161$3,753$3,382$2,921
11 years$4,587$4,102$3,663$3,266$2,909$2,469
12 years$4,162$3,682$3,251$2,865$2,521$2,103
13 years$3,803$3,328$2,904$2,529$2,198$1,801
14 years$3,495$3,025$2,610$2,245$1,927$1,550
15 years$3,228$2,763$2,356$2,002$1,697$1,340
16 years$2,995$2,535$2,136$1,793$1,499$1,162
17 years$2,789$2,335$1,944$1,611$1,330$1,010
18 years$2,607$2,157$1,774$1,452$1,182$881
19 years$2,444$1,999$1,624$1,312$1,054$770
20 years$2,298$1,858$1,491$1,188$941$674
21 years$2,165$1,731$1,371$1,078$842$591
22 years$2,045$1,615$1,264$980$755$519
23 years$1,935$1,511$1,167$893$678$456
24 years$1,835$1,416$1,079$814$609$401
25 years$1,743$1,328$1,000$744$548$353
26 years$1,658$1,249$927$680$494$311
27 years$1,579$1,175$861$622$445$274
28 years$1,507$1,107$800$570$402$242
29 years$1,439$1,045$745$523$363$214
30 years$1,376$986$694$480$328$189
31 years$1,317$933$647$441$296$167
32 years$1,262$882$603$405$268$148
33 years$1,211$836$563$373$243$131
34 years$1,162$792$526$343$220$115
35 years$1,117$751$492$316$199$102
36 years$1,074$713$460$291$180$90
37 years$1,033$677$431$268$163$80
38 years$995$644$404$247$148$71
39 years$959$612$378$228$134$63
40 years$924$582$354$210$122$56
41 years$892$554$332$194$110$49
42 years$861$528$312$179$100$44
43 years$831$503$292$165$91$39
44 years$803$479$275$152$83$34
45 years$776$457$258$141$75$30
46 years$751$436$242$130$68$27
47 years$727$416$227$120$62$24
48 years$703$397$214$111$56$21
49 years$681$379$201$103$51$19
50 years$660$362$189$95$46$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $676,000, adding $2,685 every year, while hoping to spend $26,234 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: 26/47/27 Blend
57$676,000$676,000$676,000$676,000
58$747,722$711,894$701,416$760,786
59$796,076$718,864$697,000$778,643
60$848,484$725,296$691,558$795,363
61$905,331$731,136$685,026$812,761
62$967,040$736,328$677,340$830,911
63$1,034,078$740,808$668,431$849,899
64$1,106,960$744,513$658,229$869,819
65$1,186,248$747,372$646,658$890,777
66$1,272,564$749,313$633,640$912,895
67$1,366,593$750,256$619,094$936,306
68$1,469,085$750,119$602,934$961,161
69$1,580,870$748,812$585,070$987,629
70$1,702,857$746,243$565,408$1,015,898
71$1,836,051$742,311$543,851$1,046,179
72$1,981,554$736,910$520,297$1,078,708
73$2,140,583$729,929$494,637$1,113,748
74$2,314,476$721,249$466,760$1,151,592
75$2,504,705$710,743$436,550$1,192,569
76$2,712,894$698,278$403,883$1,237,043
77$2,940,828$683,713$368,633$1,285,421
78$3,190,475$666,898$330,664$1,338,154
79$3,464,001$647,673$289,839$1,395,747
80$3,763,792$625,872$246,011$1,458,761
81$4,092,475$601,316$199,029$1,527,817
82$4,452,944$573,817$148,733$1,603,608
83$4,848,387$543,176$94,958$1,686,902
84$5,282,314$509,183$37,531$1,778,555
85$5,758,592$471,616$0$1,879,514
86$6,281,481$430,238$0$1,997,674
87$6,855,674$384,801$0$2,139,342
88$7,486,339$335,043$0$2,295,046
89$8,179,171$280,685$0$2,466,280
90$8,940,442$221,434$0$2,654,695
91$9,777,063$156,980$0$2,862,119
92$10,696,647$86,996$0$3,090,571
93$11,707,582$11,136$0$3,342,284
94$12,819,109$0$0$3,619,724
95$14,041,407$0$0$3,962,320
96$15,385,695$0$0$4,345,569
97$16,864,331$0$0$4,767,252
98$18,490,930$0$0$5,231,266
99$20,280,495$0$0$5,741,909
100$22,249,555$0$0$6,303,916