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%18.8%
1 years$56,980$56,472$55,977$55,494$55,022$53,069
2 years$28,208$27,682$27,173$26,680$26,201$24,255
3 years$18,618$18,091$17,583$17,094$16,623$14,744
4 years$13,825$13,299$12,796$12,315$11,856$10,059
5 years$10,949$10,426$9,930$9,459$9,012$7,302
6 years$9,033$8,514$8,025$7,565$7,131$5,508
7 years$7,664$7,150$6,669$6,219$5,800$4,264
8 years$6,639$6,129$5,656$5,217$4,811$3,362
9 years$5,841$5,336$4,871$4,444$4,052$2,687
10 years$5,204$4,704$4,247$3,831$3,452$2,169
11 years$4,682$4,187$3,739$3,334$2,969$1,765
12 years$4,248$3,758$3,318$2,924$2,573$1,445
13 years$3,881$3,396$2,965$2,582$2,244$1,189
14 years$3,567$3,087$2,664$2,292$1,967$983
15 years$3,295$2,820$2,405$2,044$1,732$814
16 years$3,057$2,588$2,180$1,830$1,531$677
17 years$2,847$2,383$1,984$1,644$1,357$564
18 years$2,661$2,202$1,811$1,482$1,207$470
19 years$2,495$2,041$1,658$1,339$1,075$393
20 years$2,345$1,896$1,522$1,213$961$329
21 years$2,210$1,766$1,400$1,101$860$275
22 years$2,087$1,649$1,290$1,001$771$231
23 years$1,975$1,542$1,191$911$692$193
24 years$1,873$1,445$1,102$831$622$162
25 years$1,779$1,356$1,020$759$559$136
26 years$1,692$1,274$946$694$504$114
27 years$1,612$1,199$879$635$454$96
28 years$1,538$1,130$817$582$410$81
29 years$1,469$1,066$760$534$370$68
30 years$1,405$1,007$708$490$334$57
31 years$1,345$952$660$450$302$48
32 years$1,288$901$616$413$274$40
33 years$1,236$853$575$380$248$34
34 years$1,186$808$537$350$224$29
35 years$1,140$767$502$322$203$24
36 years$1,096$728$470$297$184$20
37 years$1,055$691$440$273$167$17
38 years$1,015$657$412$252$151$14
39 years$978$625$386$232$137$12
40 years$943$594$362$214$124$10
41 years$910$566$339$198$113$9
42 years$878$539$318$182$102$7
43 years$848$513$299$168$93$6
44 years$820$489$280$155$84$5
45 years$793$467$263$144$77$4
46 years$767$445$247$133$69$4
47 years$742$425$232$123$63$3
48 years$718$406$218$113$57$3
49 years$695$387$205$105$52$2
50 years$674$370$193$97$47$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $690,000, adding $4,344 every year, while hoping to spend $35,701 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: 26/44/30 Blend
57$690,000$690,000$690,000$690,000
58$764,861$728,291$717,596$777,528
59$804,891$725,991$703,650$786,081
60$847,808$722,383$688,040$791,941
61$893,868$717,363$670,673$797,509
62$943,353$710,825$651,451$802,783
63$996,572$702,652$630,272$807,770
64$1,053,865$692,725$607,029$812,475
65$1,115,605$680,914$581,609$816,914
66$1,182,201$667,083$553,898$821,102
67$1,254,103$651,088$523,771$825,067
68$1,331,805$632,775$491,101$828,837
69$1,415,852$611,983$455,755$832,455
70$1,506,839$588,541$417,593$835,967
71$1,605,424$562,267$376,470$839,434
72$1,712,329$532,969$332,234$842,928
73$1,828,347$500,446$284,724$846,531
74$1,954,353$464,481$233,776$850,345
75$2,091,305$424,849$179,216$854,487
76$2,240,261$381,310$120,863$859,092
77$2,402,383$333,610$58,528$864,317
78$2,578,951$281,481$0$870,346
79$2,771,372$224,642$0$879,945
80$2,981,194$162,792$0$910,956
81$3,210,124$95,616$0$944,965
82$3,460,037$22,782$0$982,356
83$3,733,000$0$0$1,023,559
84$4,031,285$0$0$1,096,196
85$4,357,398$0$0$1,187,780
86$4,714,094$0$0$1,288,069
87$5,104,409$0$0$1,397,929
88$5,531,685$0$0$1,518,318
89$5,999,601$0$0$1,650,287
90$6,512,211$0$0$1,794,995
91$7,073,978$0$0$1,953,720
92$7,689,817$0$0$2,127,867
93$8,365,142$0$0$2,318,985
94$9,105,915$0$0$2,528,781
95$9,918,704$0$0$2,759,133
96$10,810,743$0$0$3,012,113
97$11,790,000$0$0$3,290,000
98$12,865,254$0$0$3,595,308
99$14,046,172$0$0$3,930,803
100$15,343,408$0$0$4,299,535