Can I retire at age 58 with 685,000?

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 $685,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$56,567$56,063$55,571$55,091$54,623$53,608
2 years$28,003$27,482$26,976$26,486$26,011$24,992
3 years$18,483$17,960$17,455$16,970$16,502$15,511
4 years$13,724$13,202$12,703$12,226$11,770$10,814
5 years$10,870$10,351$9,858$9,391$8,947$8,030
6 years$8,967$8,452$7,967$7,510$7,080$6,202
7 years$7,609$7,098$6,620$6,174$5,758$4,919
8 years$6,591$6,084$5,615$5,179$4,776$3,978
9 years$5,799$5,298$4,836$4,412$4,022$3,262
10 years$5,166$4,670$4,216$3,803$3,427$2,706
11 years$4,649$4,157$3,712$3,310$2,948$2,263
12 years$4,218$3,731$3,294$2,903$2,554$1,906
13 years$3,853$3,372$2,943$2,563$2,227$1,615
14 years$3,541$3,065$2,644$2,275$1,953$1,374
15 years$3,271$2,800$2,387$2,029$1,719$1,174
16 years$3,035$2,569$2,165$1,817$1,519$1,006
17 years$2,827$2,366$1,970$1,632$1,347$864
18 years$2,642$2,186$1,798$1,471$1,198$744
19 years$2,477$2,026$1,646$1,329$1,068$642
20 years$2,328$1,883$1,511$1,204$954$555
21 years$2,194$1,754$1,390$1,093$853$481
22 years$2,072$1,637$1,281$993$765$416
23 years$1,961$1,531$1,182$905$687$361
24 years$1,859$1,434$1,094$825$617$314
25 years$1,766$1,346$1,013$754$555$273
26 years$1,680$1,265$939$689$500$237
27 years$1,600$1,191$872$631$451$206
28 years$1,527$1,122$811$578$407$179
29 years$1,458$1,058$755$530$368$156
30 years$1,394$1,000$703$486$332$136
31 years$1,335$945$655$447$300$119
32 years$1,279$894$611$410$272$103
33 years$1,227$847$571$377$246$90
34 years$1,178$803$533$347$223$79
35 years$1,131$761$499$320$202$69
36 years$1,088$722$467$294$183$60
37 years$1,047$686$437$271$166$52
38 years$1,008$652$409$250$150$46
39 years$971$620$383$231$136$40
40 years$937$590$359$213$123$35
41 years$903$562$337$196$112$30
42 years$872$535$316$181$102$26
43 years$842$510$296$167$92$23
44 years$814$486$278$154$84$20
45 years$787$463$261$143$76$18
46 years$761$442$245$132$69$15
47 years$736$422$230$122$63$13
48 years$713$403$217$112$57$12
49 years$690$384$204$104$52$10
50 years$669$367$191$96$47$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $685,000, adding $4,967 every year, while hoping to spend $23,671 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: 40/37/23 Blend
57$685,000$685,000$685,000$685,000
58$759,993$723,688$713,071$785,049
59$812,327$733,963$711,773$813,817
60$869,205$743,949$709,638$842,310
61$931,067$753,605$706,614$872,662
62$998,394$762,890$702,644$905,056
63$1,071,718$771,759$697,670$939,696
64$1,151,623$780,165$691,632$976,805
65$1,238,751$788,056$684,464$1,016,632
66$1,333,812$795,378$676,102$1,059,452
67$1,437,582$802,074$666,473$1,105,570
68$1,550,921$808,080$655,505$1,155,321
69$1,674,771$813,332$643,120$1,209,079
70$1,810,172$817,760$629,239$1,267,255
71$1,958,268$821,289$613,777$1,330,304
72$2,120,319$823,840$596,646$1,398,731
73$2,297,711$825,328$577,754$1,473,092
74$2,491,973$825,664$557,004$1,554,002
75$2,704,787$824,754$534,296$1,642,143
76$2,938,004$822,496$509,524$1,738,268
77$3,193,666$818,783$482,578$1,843,206
78$3,474,018$813,502$453,343$1,957,879
79$3,781,536$806,532$421,698$2,083,301
80$4,118,946$797,745$387,518$2,220,594
81$4,489,250$787,006$350,672$2,370,999
82$4,895,755$774,172$311,021$2,535,884
83$5,342,105$759,089$268,423$2,716,763
84$5,832,313$741,597$222,728$2,915,307
85$6,370,799$721,525$173,780$3,133,361
86$6,962,433$698,693$121,414$3,372,963
87$7,612,582$672,910$65,462$3,636,363
88$8,327,155$643,972$5,745$3,926,046
89$9,112,664$611,666$0$4,244,755
90$9,976,284$575,766$0$4,609,749
91$10,925,918$536,031$0$5,012,571
92$11,970,274$492,209$0$5,455,548
93$13,118,947$444,032$0$5,942,807
94$14,382,507$391,218$0$6,478,895
95$15,772,601$333,466$0$7,068,832
96$17,302,062$270,461$0$7,718,150
97$18,985,029$201,870$0$8,432,951
98$20,837,080$127,340$0$9,219,967
99$22,875,381$46,498$0$10,086,618
100$25,118,845$0$0$11,041,089