Can I retire at age 58 with 680,000?

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 $680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$56,154$55,654$55,166$54,689$54,224$52,552
2 years$27,799$27,281$26,779$26,293$25,821$24,151
3 years$18,349$17,829$17,328$16,846$16,382$14,766
4 years$13,624$13,106$12,610$12,137$11,684$10,135
5 years$10,790$10,275$9,786$9,322$8,882$7,404
6 years$8,902$8,390$7,909$7,455$7,028$5,622
7 years$7,553$7,046$6,572$6,129$5,716$4,382
8 years$6,542$6,040$5,574$5,142$4,742$3,480
9 years$5,757$5,259$4,801$4,379$3,993$2,801
10 years$5,128$4,635$4,185$3,775$3,402$2,279
11 years$4,615$4,127$3,685$3,286$2,926$1,869
12 years$4,187$3,704$3,270$2,882$2,536$1,542
13 years$3,825$3,347$2,922$2,544$2,211$1,280
14 years$3,515$3,043$2,625$2,258$1,938$1,066
15 years$3,247$2,779$2,370$2,014$1,707$891
16 years$3,013$2,550$2,149$1,803$1,508$747
17 years$2,806$2,348$1,955$1,620$1,337$628
18 years$2,622$2,170$1,785$1,460$1,189$528
19 years$2,459$2,011$1,634$1,320$1,060$445
20 years$2,311$1,869$1,500$1,195$947$376
21 years$2,178$1,741$1,379$1,085$847$318
22 years$2,057$1,625$1,271$986$759$269
23 years$1,947$1,520$1,174$898$682$228
24 years$1,846$1,424$1,086$819$613$193
25 years$1,753$1,336$1,005$748$551$164
26 years$1,668$1,256$933$684$497$139
27 years$1,589$1,182$866$626$448$118
28 years$1,516$1,114$805$574$404$100
29 years$1,448$1,051$749$526$365$85
30 years$1,384$992$698$483$330$72
31 years$1,325$938$651$443$298$61
32 years$1,270$888$607$407$270$52
33 years$1,218$841$567$375$244$44
34 years$1,169$797$530$345$221$37
35 years$1,123$756$495$317$200$32
36 years$1,080$717$463$292$181$27
37 years$1,039$681$433$269$164$23
38 years$1,001$647$406$248$149$20
39 years$964$616$380$229$135$17
40 years$930$586$356$211$123$14
41 years$897$558$334$195$111$12
42 years$866$531$314$180$101$10
43 years$836$506$294$166$92$9
44 years$808$482$276$153$83$7
45 years$781$460$259$141$75$6
46 years$755$439$244$131$68$5
47 years$731$419$229$121$62$5
48 years$708$400$215$112$56$4
49 years$685$382$202$103$51$3
50 years$664$365$190$95$47$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $680,000, adding $4,890 every year, while hoping to spend $32,921 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: 58/22/20 Blend
57$680,000$680,000$680,000$680,000
58$754,404$718,364$707,824$793,890
59$796,326$718,536$696,508$821,456
60$841,420$717,613$683,710$847,505
61$889,975$715,507$669,346$875,171
62$942,310$712,124$653,325$904,619
63$998,771$707,364$635,558$936,029
64$1,059,743$701,121$615,946$969,601
65$1,125,645$693,285$594,388$1,005,557
66$1,196,940$683,735$570,779$1,044,144
67$1,274,136$672,346$545,009$1,085,635
68$1,357,792$658,986$516,961$1,130,332
69$1,448,522$643,512$486,515$1,178,570
70$1,547,003$625,775$453,544$1,230,722
71$1,653,976$605,617$417,917$1,287,198
72$1,770,260$582,870$379,495$1,348,453
73$1,896,753$557,358$338,136$1,414,993
74$2,034,446$528,892$293,687$1,487,374
75$2,184,426$497,275$245,992$1,566,215
76$2,347,892$462,295$194,887$1,652,199
77$2,526,162$423,733$140,201$1,746,082
78$2,720,687$381,353$81,754$1,848,701
79$2,933,065$334,907$19,361$1,960,981
80$3,165,054$284,133$0$2,083,946
81$3,418,589$228,755$0$2,228,804
82$3,695,802$168,481$0$2,391,794
83$3,999,039$103,002$0$2,570,207
84$4,330,883$31,991$0$2,765,618
85$4,694,180$0$0$2,979,768
86$5,092,062$0$0$3,225,441
87$5,527,978$0$0$3,503,142
88$6,005,729$0$0$3,807,552
89$6,529,498$0$0$4,141,346
90$7,103,894$0$0$4,507,467
91$7,733,992$0$0$4,909,159
92$8,425,383$0$0$5,349,995
93$9,184,226$0$0$5,833,909
94$10,017,304$0$0$6,365,236
95$10,932,089$0$0$6,948,751
96$11,936,812$0$0$7,589,714
97$13,040,540$0$0$8,293,919
98$14,253,264$0$0$9,067,749
99$15,585,986$0$0$9,918,238
100$17,050,832$0$0$10,853,132