Can I retire at age 58 with 680,000?

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 $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%16.6%
1 years$56,154$55,654$55,166$54,689$54,224$52,764
2 years$27,799$27,281$26,779$26,293$25,821$24,360
3 years$18,349$17,829$17,328$16,846$16,382$14,966
4 years$13,624$13,106$12,610$12,137$11,684$10,324
5 years$10,790$10,275$9,786$9,322$8,882$7,582
6 years$8,902$8,390$7,909$7,455$7,028$5,789
7 years$7,553$7,046$6,572$6,129$5,716$4,538
8 years$6,542$6,040$5,574$5,142$4,742$3,624
9 years$5,757$5,259$4,801$4,379$3,993$2,936
10 years$5,128$4,635$4,185$3,775$3,402$2,403
11 years$4,615$4,127$3,685$3,286$2,926$1,983
12 years$4,187$3,704$3,270$2,882$2,536$1,648
13 years$3,825$3,347$2,922$2,544$2,211$1,376
14 years$3,515$3,043$2,625$2,258$1,938$1,155
15 years$3,247$2,779$2,370$2,014$1,707$972
16 years$3,013$2,550$2,149$1,803$1,508$821
17 years$2,806$2,348$1,955$1,620$1,337$695
18 years$2,622$2,170$1,785$1,460$1,189$589
19 years$2,459$2,011$1,634$1,320$1,060$500
20 years$2,311$1,869$1,500$1,195$947$426
21 years$2,178$1,741$1,379$1,085$847$363
22 years$2,057$1,625$1,271$986$759$309
23 years$1,947$1,520$1,174$898$682$264
24 years$1,846$1,424$1,086$819$613$225
25 years$1,753$1,336$1,005$748$551$192
26 years$1,668$1,256$933$684$497$165
27 years$1,589$1,182$866$626$448$141
28 years$1,516$1,114$805$574$404$120
29 years$1,448$1,051$749$526$365$103
30 years$1,384$992$698$483$330$88
31 years$1,325$938$651$443$298$76
32 years$1,270$888$607$407$270$65
33 years$1,218$841$567$375$244$55
34 years$1,169$797$530$345$221$48
35 years$1,123$756$495$317$200$41
36 years$1,080$717$463$292$181$35
37 years$1,039$681$433$269$164$30
38 years$1,001$647$406$248$149$26
39 years$964$616$380$229$135$22
40 years$930$586$356$211$123$19
41 years$897$558$334$195$111$16
42 years$866$531$314$180$101$14
43 years$836$506$294$166$92$12
44 years$808$482$276$153$83$10
45 years$781$460$259$141$75$9
46 years$755$439$244$131$68$7
47 years$731$419$229$121$62$6
48 years$708$400$215$112$56$6
49 years$685$382$202$103$51$5
50 years$664$365$190$95$47$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $680,000, adding $4,249 every year, while hoping to spend $33,444 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: 84/5/11 Blend
57$680,000$680,000$680,000$680,000
58$753,743$717,703$707,163$815,360
59$795,040$717,286$695,269$855,883
60$839,430$715,728$681,855$895,470
61$887,190$712,937$666,836$937,933
62$938,630$708,818$650,121$983,543
63$994,086$703,266$631,616$1,032,595
64$1,053,929$696,172$611,222$1,085,418
65$1,118,568$687,423$588,836$1,142,369
66$1,188,450$676,895$564,350$1,203,845
67$1,264,067$664,458$537,651$1,270,283
68$1,345,961$649,975$508,621$1,342,162
69$1,434,725$633,300$477,137$1,420,012
70$1,531,016$614,280$443,069$1,504,416
71$1,635,551$592,752$406,284$1,596,015
72$1,749,123$568,542$366,639$1,695,519
73$1,872,601$541,469$323,990$1,803,706
74$2,006,944$511,338$278,181$1,921,435
75$2,153,205$477,946$229,053$2,049,654
76$2,312,544$441,077$176,438$2,189,404
77$2,486,236$400,503$120,161$2,341,835
78$2,675,686$355,981$60,040$2,508,215
79$2,882,439$307,257$0$2,689,939
80$3,108,196$254,061$0$2,889,028
81$3,354,831$196,109$0$3,114,246
82$3,624,405$133,100$0$3,360,432
83$3,919,188$64,716$0$3,629,670
84$4,241,679$0$0$3,924,256
85$4,594,631$0$0$4,247,234
86$4,981,073$0$0$4,604,770
87$5,404,342$0$0$4,996,389
88$5,868,114$0$0$5,425,495
89$6,376,435$0$0$5,895,833
90$6,933,763$0$0$6,411,529
91$7,545,007$0$0$6,977,127
92$8,215,573$0$0$7,597,633
93$8,951,418$0$0$8,278,558
94$9,759,102$0$0$9,025,975
95$10,645,851$0$0$9,846,574
96$11,619,624$0$0$10,747,722
97$12,689,191$0$0$11,737,537
98$13,864,212$0$0$12,824,959
99$15,155,327$0$0$14,019,839
100$16,574,261$0$0$15,333,030