Can I retire at age 58 with 689,000?

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 $689,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$56,897$56,390$55,896$55,413$54,942$53,657
2 years$28,167$27,642$27,134$26,641$26,163$24,876
3 years$18,591$18,065$17,557$17,069$16,599$15,350
4 years$13,805$13,279$12,777$12,297$11,838$10,637
5 years$10,933$10,411$9,916$9,446$8,999$7,849
6 years$9,020$8,501$8,013$7,554$7,121$6,022
7 years$7,653$7,140$6,659$6,210$5,791$4,745
8 years$6,629$6,120$5,647$5,210$4,804$3,810
9 years$5,833$5,328$4,864$4,437$4,046$3,102
10 years$5,196$4,697$4,241$3,825$3,447$2,554
11 years$4,676$4,181$3,733$3,329$2,965$2,120
12 years$4,242$3,753$3,313$2,920$2,569$1,772
13 years$3,876$3,392$2,960$2,578$2,240$1,489
14 years$3,562$3,083$2,660$2,288$1,964$1,257
15 years$3,290$2,816$2,401$2,041$1,729$1,065
16 years$3,053$2,584$2,177$1,827$1,528$905
17 years$2,843$2,380$1,981$1,642$1,355$771
18 years$2,657$2,199$1,809$1,480$1,205$658
19 years$2,491$2,038$1,656$1,337$1,074$563
20 years$2,342$1,894$1,519$1,211$959$482
21 years$2,207$1,764$1,398$1,099$858$413
22 years$2,084$1,647$1,288$999$769$355
23 years$1,973$1,540$1,189$910$691$305
24 years$1,870$1,443$1,100$830$621$262
25 years$1,776$1,354$1,019$758$559$226
26 years$1,690$1,273$945$693$503$194
27 years$1,610$1,198$877$634$454$168
28 years$1,536$1,129$816$581$409$144
29 years$1,467$1,065$759$533$370$125
30 years$1,403$1,005$707$489$334$107
31 years$1,343$950$659$449$302$93
32 years$1,286$899$615$413$273$80
33 years$1,234$852$574$380$247$69
34 years$1,185$807$537$349$224$60
35 years$1,138$766$502$322$203$51
36 years$1,094$727$469$296$184$44
37 years$1,053$690$439$273$166$38
38 years$1,014$656$411$252$151$33
39 years$977$624$385$232$137$29
40 years$942$593$361$214$124$25
41 years$909$565$339$197$113$21
42 years$877$538$318$182$102$18
43 years$847$513$298$168$93$16
44 years$819$489$280$155$84$14
45 years$791$466$263$143$76$12
46 years$765$444$247$132$69$10
47 years$741$424$232$122$63$9
48 years$717$405$218$113$57$8
49 years$694$387$205$104$52$7
50 years$673$369$193$97$47$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $689,000, adding $3,471 every year, while hoping to spend $39,284 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: 51/31/18 Blend
57$689,000$689,000$689,000$689,000
58$762,858$726,341$715,662$797,813
59$798,872$720,134$697,839$816,043
60$837,242$712,306$678,102$831,487
61$878,169$702,737$656,346$847,428
62$921,868$691,297$632,460$863,928
63$968,580$677,852$606,328$881,053
64$1,018,566$662,258$577,831$898,883
65$1,072,114$644,362$546,842$917,506
66$1,129,537$624,003$513,229$937,022
67$1,191,181$601,011$476,854$957,543
68$1,257,426$575,205$437,573$979,198
69$1,328,687$546,394$395,235$1,002,131
70$1,405,422$514,376$349,684$1,026,502
71$1,488,131$478,936$300,755$1,052,496
72$1,577,367$439,850$248,276$1,080,315
73$1,673,734$396,879$192,069$1,110,189
74$1,777,898$349,769$131,947$1,142,376
75$1,890,590$298,254$67,713$1,177,164
76$2,012,614$242,053$0$1,214,874
77$2,144,854$180,867$0$1,256,028
78$2,288,282$114,381$0$1,314,757
79$2,443,965$42,265$0$1,378,535
80$2,613,080$0$0$1,447,909
81$2,796,920$0$0$1,535,706
82$2,996,906$0$0$1,646,962
83$3,214,604$0$0$1,768,136
84$3,451,736$0$0$1,900,194
85$3,710,196$0$0$2,044,202
86$3,992,070$0$0$2,201,329
87$4,299,654$0$0$2,372,865
88$4,635,473$0$0$2,560,228
89$5,002,310$0$0$2,764,980
90$5,403,225$0$0$2,988,841
91$5,841,590$0$0$3,233,702
92$6,321,117$0$0$3,501,650
93$6,845,891$0$0$3,794,979
94$7,420,413$0$0$4,116,216
95$8,049,637$0$0$4,468,146
96$8,739,021$0$0$4,853,832
97$9,494,575$0$0$5,276,652
98$10,322,916$0$0$5,740,322
99$11,231,335$0$0$6,248,939
100$12,227,860$0$0$6,807,012