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%15.1%
1 years$55,906$55,408$54,922$54,448$53,985$52,852
2 years$27,676$27,161$26,661$26,177$25,707$24,571
3 years$18,268$17,750$17,252$16,772$16,310$15,206
4 years$13,564$13,048$12,555$12,083$11,632$10,569
5 years$10,743$10,230$9,743$9,281$8,843$7,823
6 years$8,863$8,353$7,874$7,422$6,997$6,022
7 years$7,520$7,015$6,543$6,102$5,690$4,761
8 years$6,514$6,013$5,549$5,119$4,721$3,836
9 years$5,731$5,236$4,779$4,360$3,975$3,135
10 years$5,106$4,615$4,167$3,759$3,387$2,590
11 years$4,594$4,108$3,668$3,271$2,913$2,159
12 years$4,168$3,688$3,256$2,869$2,525$1,811
13 years$3,808$3,332$2,909$2,533$2,201$1,528
14 years$3,500$3,029$2,613$2,249$1,930$1,295
15 years$3,233$2,767$2,360$2,005$1,699$1,102
16 years$2,999$2,539$2,139$1,796$1,502$940
17 years$2,794$2,338$1,947$1,613$1,331$804
18 years$2,611$2,161$1,777$1,454$1,184$690
19 years$2,448$2,002$1,627$1,314$1,055$593
20 years$2,301$1,861$1,493$1,190$943$510
21 years$2,168$1,733$1,373$1,080$843$439
22 years$2,048$1,618$1,266$982$756$379
23 years$1,938$1,513$1,169$894$679$327
24 years$1,838$1,418$1,081$816$610$283
25 years$1,745$1,330$1,001$745$549$244
26 years$1,660$1,250$928$681$494$212
27 years$1,582$1,177$862$623$446$183
28 years$1,509$1,109$801$571$402$159
29 years$1,441$1,046$746$524$363$137
30 years$1,378$988$695$481$328$119
31 years$1,319$934$648$441$297$103
32 years$1,264$884$604$406$268$90
33 years$1,212$837$564$373$243$78
34 years$1,164$793$527$343$220$67
35 years$1,118$752$493$316$199$59
36 years$1,075$714$461$291$180$51
37 years$1,035$678$432$268$164$44
38 years$996$645$404$247$148$38
39 years$960$613$379$228$134$33
40 years$926$583$355$210$122$29
41 years$893$555$333$194$111$25
42 years$862$529$312$179$100$22
43 years$832$504$293$165$91$19
44 years$804$480$275$153$83$16
45 years$778$458$258$141$75$14
46 years$752$437$242$130$68$12
47 years$728$417$228$120$62$11
48 years$705$398$214$111$56$9
49 years$682$380$201$103$51$8
50 years$661$363$189$95$46$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $677,000, adding $4,721 every year, while hoping to spend $22,915 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: 77/11/12 Blend
57$677,000$677,000$677,000$677,000
58$750,924$715,043$704,549$806,647
59$803,137$725,698$703,770$854,658
60$859,907$736,108$702,197$903,903
61$921,676$746,236$699,779$957,255
62$988,928$756,043$696,463$1,015,114
63$1,062,197$765,487$692,193$1,077,920
64$1,142,070$774,525$686,910$1,146,159
65$1,229,193$783,109$680,554$1,220,368
66$1,324,278$791,188$673,059$1,301,135
67$1,428,107$798,709$664,359$1,389,111
68$1,541,543$805,614$654,384$1,485,012
69$1,665,533$811,842$643,059$1,589,626
70$1,801,123$817,328$630,307$1,703,824
71$1,949,463$822,003$616,048$1,828,562
72$2,111,820$825,793$600,197$1,964,898
73$2,289,588$828,618$582,666$2,113,993
74$2,484,302$830,397$563,361$2,277,132
75$2,697,654$831,040$542,187$2,455,725
76$2,931,507$830,453$519,042$2,651,331
77$3,187,911$828,535$493,821$2,865,666
78$3,469,126$825,182$466,412$3,100,620
79$3,777,641$820,280$436,701$3,358,279
80$4,116,197$813,710$404,567$3,640,939
81$4,487,811$805,344$369,882$3,951,131
82$4,895,812$795,050$332,517$4,291,648
83$5,343,860$782,683$292,332$4,665,562
84$5,835,994$768,094$249,185$5,076,264
85$6,376,657$751,122$202,924$5,527,490
86$6,970,747$731,599$153,394$6,023,355
87$7,623,661$709,345$100,430$6,568,398
88$8,341,341$684,170$43,861$7,167,619
89$9,130,337$655,873$0$7,826,529
90$9,997,863$624,242$0$8,553,318
91$10,951,868$589,053$0$9,358,696
92$12,001,110$550,068$0$10,244,447
93$13,155,237$507,035$0$11,218,727
94$14,424,880$459,689$0$12,290,527
95$15,821,753$407,749$0$13,469,755
96$17,358,762$350,919$0$14,767,326
97$19,050,125$288,884$0$16,195,270
98$20,911,513$221,313$0$17,766,844
99$22,960,187$147,858$0$19,496,658
100$25,215,170$68,147$0$21,400,808