Can I retire at age 58 with 687,000?

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 $687,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$56,732$56,226$55,733$55,252$54,782$53,371
2 years$28,085$27,562$27,055$26,564$26,087$24,675
3 years$18,537$18,012$17,506$17,020$16,551$15,181
4 years$13,764$13,241$12,740$12,262$11,804$10,488
5 years$10,901$10,381$9,887$9,418$8,973$7,715
6 years$8,993$8,477$7,990$7,532$7,100$5,900
7 years$7,631$7,119$6,640$6,192$5,774$4,633
8 years$6,610$6,102$5,631$5,195$4,790$3,707
9 years$5,816$5,313$4,850$4,425$4,034$3,008
10 years$5,181$4,683$4,228$3,814$3,437$2,467
11 years$4,662$4,169$3,723$3,319$2,956$2,040
12 years$4,230$3,742$3,304$2,912$2,562$1,698
13 years$3,864$3,382$2,952$2,570$2,234$1,421
14 years$3,552$3,074$2,652$2,282$1,958$1,195
15 years$3,281$2,808$2,394$2,035$1,724$1,008
16 years$3,044$2,576$2,171$1,822$1,524$853
17 years$2,835$2,373$1,975$1,637$1,351$723
18 years$2,649$2,192$1,803$1,475$1,201$615
19 years$2,484$2,032$1,651$1,333$1,071$523
20 years$2,335$1,888$1,515$1,207$956$446
21 years$2,200$1,759$1,394$1,096$856$381
22 years$2,078$1,642$1,284$996$767$326
23 years$1,967$1,535$1,186$907$689$279
24 years$1,865$1,439$1,097$828$619$238
25 years$1,771$1,350$1,016$756$557$204
26 years$1,685$1,269$942$691$502$175
27 years$1,605$1,194$875$633$452$150
28 years$1,531$1,125$813$580$408$129
29 years$1,462$1,062$757$531$369$110
30 years$1,398$1,003$705$488$333$95
31 years$1,339$948$657$448$301$81
32 years$1,283$897$613$412$272$70
33 years$1,230$849$573$379$246$60
34 years$1,181$805$535$348$223$52
35 years$1,135$763$500$321$202$44
36 years$1,091$725$468$295$183$38
37 years$1,050$688$438$272$166$33
38 years$1,011$654$410$251$150$28
39 years$974$622$384$231$136$24
40 years$939$592$360$213$124$21
41 years$906$563$338$197$112$18
42 years$875$536$317$182$102$15
43 years$845$511$297$168$92$13
44 years$816$487$279$155$84$11
45 years$789$465$262$143$76$10
46 years$763$443$246$132$69$8
47 years$739$423$231$122$63$7
48 years$715$404$217$113$57$6
49 years$692$386$204$104$52$5
50 years$671$368$192$96$47$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $687,000, adding $4,314 every year, while hoping to spend $23,543 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: 53/42/5 Blend
57$687,000$687,000$687,000$687,000
58$761,524$725,113$714,464$800,826
59$814,150$735,594$713,349$838,374
60$871,354$745,799$711,408$876,241
61$933,580$755,691$708,588$916,859
62$1,001,313$765,228$704,833$960,491
63$1,075,089$774,366$700,087$1,007,428
64$1,155,497$783,058$694,288$1,057,989
65$1,243,184$791,255$687,374$1,112,528
66$1,338,866$798,904$679,278$1,171,436
67$1,443,327$805,946$669,930$1,235,142
68$1,557,431$812,323$659,258$1,304,121
69$1,682,131$817,969$647,185$1,378,896
70$1,818,474$822,815$633,632$1,460,046
71$1,967,615$826,789$618,515$1,548,207
72$2,130,823$829,813$601,746$1,644,084
73$2,309,497$831,804$583,235$1,748,451
74$2,505,178$832,675$562,886$1,862,166
75$2,719,563$832,332$540,598$1,986,172
76$2,954,518$830,676$516,268$2,121,512
77$3,212,101$827,602$489,786$2,269,335
78$3,494,580$822,999$461,038$2,430,911
79$3,804,448$816,747$429,904$2,607,639
80$4,144,457$808,722$396,261$2,801,061
81$4,517,632$798,790$359,976$3,012,883
82$4,927,310$786,811$320,915$3,244,983
83$5,377,165$772,634$278,935$3,499,433
84$5,871,245$756,102$233,888$3,778,520
85$6,414,007$737,046$185,619$4,084,766
86$7,010,364$715,289$133,965$4,420,954
87$7,665,726$690,643$78,757$4,790,153
88$8,386,054$662,909$19,820$5,195,746
89$9,177,916$631,876$0$5,641,469
90$10,048,548$597,322$0$6,133,738
91$11,005,920$559,012$0$6,676,072
92$12,058,816$516,695$0$7,272,435
93$13,216,911$470,109$0$7,928,361
94$14,490,867$418,975$0$8,649,955
95$15,892,429$362,999$0$9,443,948
96$17,434,542$301,871$0$10,317,761
97$19,131,464$235,261$0$11,279,580
98$20,998,908$162,823$0$12,338,428
99$23,054,186$84,191$0$13,504,255
100$25,316,374$0$0$14,788,033