Can I retire at age 58 with 678,000?

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 $678,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$55,989$55,490$55,003$54,528$54,065$52,376
2 years$27,717$27,201$26,701$26,216$25,745$24,059
3 years$18,295$17,776$17,277$16,797$16,334$14,703
4 years$13,584$13,067$12,573$12,101$11,649$10,086
5 years$10,759$10,245$9,757$9,295$8,856$7,364
6 years$8,876$8,366$7,885$7,433$7,007$5,589
7 years$7,531$7,026$6,553$6,111$5,699$4,354
8 years$6,523$6,022$5,557$5,126$4,728$3,455
9 years$5,740$5,243$4,787$4,367$3,981$2,780
10 years$5,113$4,622$4,173$3,764$3,392$2,260
11 years$4,601$4,115$3,674$3,276$2,917$1,852
12 years$4,174$3,693$3,260$2,873$2,528$1,528
13 years$3,814$3,337$2,913$2,537$2,205$1,267
14 years$3,505$3,034$2,617$2,252$1,933$1,054
15 years$3,238$2,771$2,363$2,008$1,702$881
16 years$3,004$2,543$2,142$1,798$1,504$738
17 years$2,798$2,342$1,950$1,616$1,333$619
18 years$2,615$2,164$1,780$1,456$1,186$521
19 years$2,451$2,005$1,629$1,316$1,057$439
20 years$2,304$1,863$1,495$1,192$944$370
21 years$2,172$1,736$1,375$1,081$845$313
22 years$2,051$1,620$1,268$983$757$264
23 years$1,941$1,515$1,170$895$680$224
24 years$1,840$1,420$1,082$817$611$189
25 years$1,748$1,332$1,003$746$550$160
26 years$1,663$1,252$930$682$495$136
27 years$1,584$1,179$863$624$446$115
28 years$1,511$1,111$803$572$403$98
29 years$1,443$1,048$747$524$364$83
30 years$1,380$989$696$481$329$70
31 years$1,321$935$649$442$297$60
32 years$1,266$885$605$406$269$51
33 years$1,214$838$565$374$243$43
34 years$1,166$794$528$344$220$37
35 years$1,120$753$494$316$199$31
36 years$1,077$715$462$291$181$26
37 years$1,036$679$432$269$164$22
38 years$998$645$405$248$149$19
39 years$961$614$379$228$135$16
40 years$927$584$355$210$122$14
41 years$894$556$333$194$111$12
42 years$863$529$313$179$101$10
43 years$834$504$293$165$91$8
44 years$806$481$275$153$83$7
45 years$779$458$259$141$75$6
46 years$753$437$243$130$68$5
47 years$729$417$228$120$62$4
48 years$706$398$214$111$56$4
49 years$683$381$202$103$51$3
50 years$662$363$189$95$46$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $678,000, adding $6,007 every year, while hoping to spend $41,257 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: 51/35/14 Blend
57$678,000$678,000$678,000$678,000
58$753,352$717,418$706,909$788,624
59$786,297$708,675$686,694$804,704
60$821,219$698,120$664,418$817,335
61$858,278$685,621$639,970$830,142
62$897,644$671,039$613,231$843,153
63$939,509$654,225$584,079$856,403
64$984,079$635,022$552,386$869,931
65$1,031,580$613,263$518,015$883,785
66$1,082,260$588,772$480,828$898,019
67$1,136,392$561,363$440,677$912,696
68$1,194,273$530,839$397,409$927,890
69$1,256,230$496,991$350,863$943,684
70$1,322,621$459,599$300,873$960,175
71$1,393,839$418,430$247,263$977,473
72$1,470,315$373,238$189,851$995,702
73$1,552,522$323,762$128,446$1,015,007
74$1,640,980$269,726$62,849$1,035,550
75$1,736,258$210,842$0$1,057,513
76$1,838,984$146,800$0$1,082,175
77$1,949,845$77,278$0$1,118,791
78$2,069,597$1,933$0$1,158,260
79$2,199,071$0$0$1,200,917
80$2,339,181$0$0$1,277,790
81$2,490,929$0$0$1,361,915
82$2,655,421$0$0$1,453,164
83$2,833,868$0$0$1,552,219
84$3,027,606$0$0$1,659,829
85$3,238,104$0$0$1,776,817
86$3,466,974$0$0$1,904,091
87$3,715,995$0$0$2,042,647
88$3,987,121$0$0$2,193,581
89$4,282,503$0$0$2,358,103
90$4,604,508$0$0$2,537,541
91$4,955,740$0$0$2,733,356
92$5,339,068$0$0$2,947,160
93$5,757,648$0$0$3,180,725
94$6,214,953$0$0$3,436,001
95$6,714,809$0$0$3,715,137
96$7,261,427$0$0$4,020,498
97$7,859,444$0$0$4,354,688
98$8,513,966$0$0$4,720,574
99$9,230,614$0$0$5,121,314
100$10,015,578$0$0$5,560,386