Can I retire at age 58 with 688,000?

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 $688,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$56,814$56,308$55,815$55,333$54,862$54,471
2 years$28,126$27,602$27,094$26,602$26,125$25,730
3 years$18,564$18,038$17,532$17,044$16,575$16,189
4 years$13,785$13,260$12,759$12,279$11,821$11,447
5 years$10,917$10,396$9,901$9,432$8,986$8,625
6 years$9,007$8,489$8,002$7,543$7,111$6,763
7 years$7,642$7,129$6,649$6,201$5,783$5,449
8 years$6,619$6,111$5,639$5,202$4,797$4,477
9 years$5,824$5,321$4,857$4,431$4,040$3,734
10 years$5,189$4,690$4,235$3,820$3,442$3,149
11 years$4,669$4,175$3,728$3,324$2,961$2,681
12 years$4,236$3,747$3,309$2,916$2,566$2,299
13 years$3,870$3,387$2,956$2,574$2,237$1,983
14 years$3,557$3,078$2,656$2,285$1,961$1,719
15 years$3,285$2,812$2,398$2,038$1,727$1,497
16 years$3,048$2,580$2,174$1,825$1,526$1,308
17 years$2,839$2,376$1,978$1,639$1,353$1,146
18 years$2,653$2,196$1,806$1,477$1,203$1,007
19 years$2,487$2,035$1,653$1,335$1,072$887
20 years$2,338$1,891$1,517$1,209$958$783
21 years$2,204$1,761$1,396$1,097$857$692
22 years$2,081$1,644$1,286$998$768$612
23 years$1,970$1,538$1,188$909$690$543
24 years$1,868$1,441$1,098$829$620$482
25 years$1,774$1,352$1,017$757$558$428
26 years$1,687$1,271$944$692$502$380
27 years$1,607$1,196$876$633$453$338
28 years$1,533$1,127$814$580$409$301
29 years$1,465$1,063$758$532$369$268
30 years$1,400$1,004$706$488$334$239
31 years$1,341$949$658$449$302$213
32 years$1,285$898$614$412$273$190
33 years$1,232$850$573$379$247$170
34 years$1,183$806$536$349$223$152
35 years$1,136$765$501$321$202$135
36 years$1,093$726$469$296$183$121
37 years$1,051$689$439$272$166$108
38 years$1,012$655$411$251$151$97
39 years$976$623$385$232$137$86
40 years$941$593$361$214$124$77
41 years$907$564$338$197$112$69
42 years$876$537$317$182$102$62
43 years$846$512$298$168$93$55
44 years$817$488$279$155$84$49
45 years$790$465$262$143$76$44
46 years$764$444$246$132$69$39
47 years$740$424$232$122$63$35
48 years$716$404$218$113$57$32
49 years$693$386$204$104$52$28
50 years$672$369$192$96$47$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $688,000, adding $5,325 every year, while hoping to spend $36,722 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: 82/9/9 Blend
57$688,000$688,000$688,000$688,000
58$763,669$727,205$716,541$824,886
59$802,491$723,766$701,473$862,299
60$844,042$718,928$684,670$897,939
61$888,563$712,583$666,034$935,953
62$936,314$704,618$645,464$976,557
63$987,586$694,911$622,855$1,019,991
64$1,042,694$683,336$598,094$1,066,520
65$1,101,985$669,757$571,068$1,116,433
66$1,165,842$654,029$541,653$1,170,051
67$1,234,683$636,002$509,723$1,227,726
68$1,308,969$615,514$475,147$1,289,847
69$1,389,205$592,395$437,785$1,356,841
70$1,475,946$566,465$397,494$1,429,182
71$1,569,804$537,533$354,121$1,507,387
72$1,671,450$505,398$307,510$1,592,032
73$1,781,621$469,846$257,495$1,683,746
74$1,901,131$430,653$203,905$1,783,228
75$2,030,870$387,579$146,560$1,891,243
76$2,171,821$340,372$85,272$2,008,639
77$2,325,064$288,768$19,846$2,136,348
78$2,491,787$232,484$0$2,275,398
79$2,673,297$171,223$0$2,431,722
80$2,871,033$104,672$0$2,604,116
81$3,086,576$32,500$0$2,792,072
82$3,321,671$0$0$2,997,130
83$3,578,233$0$0$3,225,509
84$3,858,374$0$0$3,478,406
85$4,164,416$0$0$3,754,701
86$4,498,919$0$0$4,056,705
87$4,864,697$0$0$4,386,963
88$5,264,852$0$0$4,748,276
89$5,702,797$0$0$5,143,729
90$6,182,291$0$0$5,576,719
91$6,707,475$0$0$6,050,986
92$7,282,908$0$0$6,570,650
93$7,913,609$0$0$7,140,247
94$8,605,110$0$0$7,764,774
95$9,363,499$0$0$8,449,733
96$10,195,485$0$0$9,201,187
97$11,108,456$0$0$10,025,810
98$12,110,550$0$0$10,930,958
99$13,210,733$0$0$11,924,729
100$14,418,879$0$0$13,016,048