Can I retire at age 58 with 690,000?

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 $690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$56,980$56,472$55,977$55,494$55,022$52,839
2 years$28,208$27,682$27,173$26,680$26,201$24,028
3 years$18,618$18,091$17,583$17,094$16,623$14,530
4 years$13,825$13,299$12,796$12,315$11,856$9,857
5 years$10,949$10,426$9,930$9,459$9,012$7,114
6 years$9,033$8,514$8,025$7,565$7,131$5,335
7 years$7,664$7,150$6,669$6,219$5,800$4,104
8 years$6,639$6,129$5,656$5,217$4,811$3,214
9 years$5,841$5,336$4,871$4,444$4,052$2,551
10 years$5,204$4,704$4,247$3,831$3,452$2,046
11 years$4,682$4,187$3,739$3,334$2,969$1,653
12 years$4,248$3,758$3,318$2,924$2,573$1,343
13 years$3,881$3,396$2,965$2,582$2,244$1,097
14 years$3,567$3,087$2,664$2,292$1,967$899
15 years$3,295$2,820$2,405$2,044$1,732$740
16 years$3,057$2,588$2,180$1,830$1,531$610
17 years$2,847$2,383$1,984$1,644$1,357$504
18 years$2,661$2,202$1,811$1,482$1,207$417
19 years$2,495$2,041$1,658$1,339$1,075$345
20 years$2,345$1,896$1,522$1,213$961$286
21 years$2,210$1,766$1,400$1,101$860$238
22 years$2,087$1,649$1,290$1,001$771$198
23 years$1,975$1,542$1,191$911$692$164
24 years$1,873$1,445$1,102$831$622$137
25 years$1,779$1,356$1,020$759$559$114
26 years$1,692$1,274$946$694$504$95
27 years$1,612$1,199$879$635$454$79
28 years$1,538$1,130$817$582$410$66
29 years$1,469$1,066$760$534$370$55
30 years$1,405$1,007$708$490$334$46
31 years$1,345$952$660$450$302$38
32 years$1,288$901$616$413$274$32
33 years$1,236$853$575$380$248$26
34 years$1,186$808$537$350$224$22
35 years$1,140$767$502$322$203$18
36 years$1,096$728$470$297$184$15
37 years$1,055$691$440$273$167$13
38 years$1,015$657$412$252$151$11
39 years$978$625$386$232$137$9
40 years$943$594$362$214$124$7
41 years$910$566$339$198$113$6
42 years$878$539$318$182$102$5
43 years$848$513$299$168$93$4
44 years$820$489$280$155$84$4
45 years$793$467$263$144$77$3
46 years$767$445$247$133$69$2
47 years$742$425$232$123$63$2
48 years$718$406$218$113$57$2
49 years$695$387$205$105$52$1
50 years$674$370$193$97$47$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $690,000, adding $6,731 every year, while hoping to spend $41,575 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: 35/38/27 Blend
57$690,000$690,000$690,000$690,000
58$767,323$730,753$720,058$787,738
59$801,354$722,324$699,944$795,134
60$837,464$712,089$677,764$798,881
61$875,819$699,916$653,403$802,115
62$916,604$685,663$626,743$804,819
63$960,019$669,182$597,661$806,976
64$1,006,285$650,316$566,027$808,574
65$1,055,644$628,899$531,706$809,600
66$1,108,359$604,754$494,557$810,047
67$1,164,719$577,695$454,432$809,912
68$1,225,042$547,524$411,178$809,195
69$1,289,676$514,032$364,632$807,902
70$1,359,002$476,999$314,627$806,046
71$1,433,440$436,192$260,986$803,647
72$1,513,449$391,364$203,527$800,731
73$1,599,534$342,253$142,058$797,337
74$1,692,248$288,585$76,379$793,512
75$1,792,200$230,069$6,280$789,318
76$1,900,059$166,396$0$784,828
77$2,016,558$97,243$0$799,876
78$2,142,505$22,266$0$818,041
79$2,278,787$0$0$837,710
80$2,426,379$0$0$883,734
81$2,586,352$0$0$943,794
82$2,759,886$0$0$1,009,033
83$2,948,277$0$0$1,079,948
84$3,152,950$0$0$1,157,089
85$3,375,474$0$0$1,241,058
86$3,617,575$0$0$1,332,519
87$3,881,151$0$0$1,432,203
88$4,168,291$0$0$1,540,913
89$4,481,295$0$0$1,659,534
90$4,822,691$0$0$1,789,040
91$5,195,265$0$0$1,930,503
92$5,602,083$0$0$2,085,104
93$6,046,519$0$0$2,254,140
94$6,532,287$0$0$2,439,044
95$7,063,478$0$0$2,641,390
96$7,644,595$0$0$2,862,912
97$8,280,595$0$0$3,105,521
98$8,976,940$0$0$3,371,320
99$9,739,641$0$0$3,662,625
100$10,575,320$0$0$3,981,986