Can I retire at age 58 with 679,000?

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 $679,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$56,071$55,572$55,084$54,609$54,144$52,223
2 years$27,758$27,241$26,740$26,254$25,783$23,868
3 years$18,322$17,802$17,303$16,821$16,358$14,509
4 years$13,604$13,087$12,592$12,119$11,667$9,898
5 years$10,775$10,260$9,772$9,308$8,869$7,185
6 years$8,889$8,378$7,897$7,444$7,018$5,421
7 years$7,542$7,036$6,562$6,120$5,707$4,196
8 years$6,533$6,031$5,566$5,134$4,735$3,308
9 years$5,748$5,251$4,794$4,373$3,987$2,644
10 years$5,121$4,629$4,179$3,770$3,397$2,134
11 years$4,608$4,121$3,679$3,281$2,922$1,737
12 years$4,181$3,698$3,265$2,878$2,532$1,422
13 years$3,819$3,342$2,917$2,541$2,208$1,170
14 years$3,510$3,038$2,621$2,255$1,935$967
15 years$3,242$2,775$2,367$2,011$1,704$801
16 years$3,008$2,546$2,146$1,801$1,506$666
17 years$2,802$2,345$1,952$1,618$1,335$555
18 years$2,619$2,167$1,782$1,458$1,187$463
19 years$2,455$2,008$1,632$1,318$1,058$387
20 years$2,308$1,866$1,497$1,193$945$323
21 years$2,175$1,738$1,377$1,083$846$271
22 years$2,054$1,623$1,269$985$758$227
23 years$1,944$1,518$1,172$897$681$190
24 years$1,843$1,422$1,084$818$612$160
25 years$1,751$1,334$1,004$747$551$134
26 years$1,665$1,254$931$683$496$113
27 years$1,586$1,180$865$625$447$95
28 years$1,513$1,112$804$573$403$80
29 years$1,445$1,049$748$525$364$67
30 years$1,382$991$697$482$329$56
31 years$1,323$937$650$443$298$47
32 years$1,268$886$606$407$269$40
33 years$1,216$839$566$374$244$33
34 years$1,167$795$529$344$221$28
35 years$1,122$755$494$317$200$24
36 years$1,078$716$462$292$181$20
37 years$1,038$680$433$269$164$17
38 years$999$646$405$248$149$14
39 years$963$615$380$229$135$12
40 years$928$585$356$211$122$10
41 years$896$557$334$194$111$8
42 years$864$530$313$179$101$7
43 years$835$505$294$166$91$6
44 years$807$482$276$153$83$5
45 years$780$459$259$141$75$4
46 years$754$438$243$131$68$4
47 years$730$418$228$121$62$3
48 years$707$399$215$111$56$3
49 years$684$381$202$103$51$2
50 years$663$364$190$95$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $679,000, adding $5,769 every year, while hoping to spend $35,780 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: 51/42/7 Blend
57$679,000$679,000$679,000$679,000
58$754,209$718,222$707,697$791,067
59$793,068$715,345$693,335$813,899
60$834,693$711,128$677,293$834,364
61$879,325$705,467$659,477$855,759
62$927,235$698,254$639,788$878,178
63$978,715$689,370$618,123$901,728
64$1,034,088$678,694$594,374$926,529
65$1,093,710$666,094$568,430$952,714
66$1,157,968$651,432$540,172$980,433
67$1,227,290$634,562$509,478$1,009,852
68$1,302,147$615,329$476,218$1,041,158
69$1,383,053$593,568$440,259$1,074,559
70$1,470,577$569,105$401,460$1,110,287
71$1,565,342$541,757$359,675$1,148,601
72$1,668,032$511,328$314,749$1,189,789
73$1,779,402$477,614$266,525$1,234,173
74$1,900,281$440,397$214,833$1,282,112
75$2,031,580$399,447$159,500$1,334,002
76$2,174,302$354,521$100,344$1,390,289
77$2,329,550$305,361$37,174$1,451,465
78$2,498,537$251,697$0$1,518,078
79$2,682,599$193,241$0$1,592,997
80$2,883,206$129,692$0$1,677,749
81$3,101,974$60,728$0$1,770,323
82$3,340,684$0$0$1,871,571
83$3,601,296$0$0$1,988,901
84$3,885,965$0$0$2,147,786
85$4,197,067$0$0$2,321,491
86$4,537,215$0$0$2,511,484
87$4,909,288$0$0$2,719,383
88$5,316,455$0$0$2,946,968
89$5,762,205$0$0$3,196,197
90$6,250,381$0$0$3,469,230
91$6,785,214$0$0$3,768,443
92$7,371,365$0$0$4,096,454
93$8,013,966$0$0$4,456,148
94$8,718,670$0$0$4,850,698
95$9,491,704$0$0$5,283,603
96$10,339,924$0$0$5,758,716
97$11,270,885$0$0$6,280,280
98$12,292,907$0$0$6,852,970
99$13,415,155$0$0$7,481,935
100$14,647,727$0$0$8,172,849