Can I retire at age 58 with 677,000?

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 $677,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$55,906$55,408$54,922$54,448$53,985$53,555
2 years$27,676$27,161$26,661$26,177$25,707$25,274
3 years$18,268$17,750$17,252$16,772$16,310$15,886
4 years$13,564$13,048$12,555$12,083$11,632$11,222
5 years$10,743$10,230$9,743$9,281$8,843$8,447
6 years$8,863$8,353$7,874$7,422$6,997$6,616
7 years$7,520$7,015$6,543$6,102$5,690$5,325
8 years$6,514$6,013$5,549$5,119$4,721$4,370
9 years$5,731$5,236$4,779$4,360$3,975$3,640
10 years$5,106$4,615$4,167$3,759$3,387$3,067
11 years$4,594$4,108$3,668$3,271$2,913$2,607
12 years$4,168$3,688$3,256$2,869$2,525$2,233
13 years$3,808$3,332$2,909$2,533$2,201$1,924
14 years$3,500$3,029$2,613$2,249$1,930$1,666
15 years$3,233$2,767$2,360$2,005$1,699$1,448
16 years$2,999$2,539$2,139$1,796$1,502$1,264
17 years$2,794$2,338$1,947$1,613$1,331$1,106
18 years$2,611$2,161$1,777$1,454$1,184$970
19 years$2,448$2,002$1,627$1,314$1,055$853
20 years$2,301$1,861$1,493$1,190$943$752
21 years$2,168$1,733$1,373$1,080$843$664
22 years$2,048$1,618$1,266$982$756$587
23 years$1,938$1,513$1,169$894$679$519
24 years$1,838$1,418$1,081$816$610$460
25 years$1,745$1,330$1,001$745$549$408
26 years$1,660$1,250$928$681$494$362
27 years$1,582$1,177$862$623$446$322
28 years$1,509$1,109$801$571$402$286
29 years$1,441$1,046$746$524$363$254
30 years$1,378$988$695$481$328$226
31 years$1,319$934$648$441$297$201
32 years$1,264$884$604$406$268$179
33 years$1,212$837$564$373$243$160
34 years$1,164$793$527$343$220$142
35 years$1,118$752$493$316$199$127
36 years$1,075$714$461$291$180$113
37 years$1,035$678$432$268$164$101
38 years$996$645$404$247$148$90
39 years$960$613$379$228$134$80
40 years$926$583$355$210$122$72
41 years$893$555$333$194$111$64
42 years$862$529$312$179$100$57
43 years$832$504$293$165$91$51
44 years$804$480$275$153$83$46
45 years$778$458$258$141$75$41
46 years$752$437$242$130$68$36
47 years$728$417$228$120$62$32
48 years$705$398$214$111$56$29
49 years$682$380$201$103$51$26
50 years$661$363$189$95$46$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $677,000, adding $6,799 every year, while hoping to spend $26,632 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: 37/33/30 Blend
57$677,000$677,000$677,000$677,000
58$753,067$717,186$706,693$773,985
59$801,544$723,992$702,031$796,923
60$854,072$730,239$696,320$818,790
61$911,038$735,871$689,497$841,910
62$972,865$740,829$681,496$866,416
63$1,040,018$745,051$672,247$892,453
64$1,113,011$748,469$661,678$920,186
65$1,192,406$751,013$649,713$949,796
66$1,278,825$752,605$636,271$981,485
67$1,372,949$753,167$621,270$1,015,478
68$1,475,530$752,613$604,623$1,052,024
69$1,587,394$750,851$586,238$1,091,401
70$1,709,452$747,786$566,020$1,133,917
71$1,842,703$743,315$543,870$1,179,913
72$1,988,252$737,330$519,682$1,229,771
73$2,147,310$729,716$493,348$1,283,910
74$2,321,214$720,350$464,754$1,342,798
75$2,511,436$709,105$433,780$1,406,954
76$2,719,594$695,843$400,303$1,476,952
77$2,947,471$680,418$364,193$1,553,428
78$3,197,032$662,678$325,312$1,637,087
79$3,470,440$642,459$283,521$1,728,713
80$3,770,075$619,590$238,669$1,829,169
81$4,098,561$593,888$190,603$1,939,416
82$4,458,787$565,161$139,160$2,060,513
83$4,853,934$533,205$84,173$2,193,636
84$5,287,507$497,804$25,465$2,340,084
85$5,763,367$458,730$0$2,501,295
86$6,285,765$415,743$0$2,690,765
87$6,859,386$368,587$0$2,907,822
88$7,489,388$316,993$0$3,146,315
89$8,181,457$260,677$0$3,408,465
90$8,941,854$199,338$0$3,696,718
91$9,777,476$132,659$0$4,013,778
92$10,695,924$60,305$0$4,362,627
93$11,705,570$0$0$4,746,554
94$12,815,638$0$0$5,175,757
95$14,036,289$0$0$5,671,900
96$15,378,721$0$0$6,217,649
97$16,855,269$0$0$6,818,031
98$18,479,524$0$0$7,478,587
99$20,266,462$0$0$8,205,421
100$22,232,580$0$0$9,005,258