Can I retire at age 58 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$57,062$56,554$56,058$55,574$55,101$54,731
2 years$28,249$27,722$27,213$26,718$26,239$25,865
3 years$18,645$18,117$17,608$17,119$16,647$16,282
4 years$13,845$13,318$12,814$12,333$11,873$11,519
5 years$10,965$10,441$9,944$9,473$9,025$8,684
6 years$9,046$8,526$8,037$7,576$7,142$6,813
7 years$7,676$7,160$6,678$6,228$5,808$5,492
8 years$6,648$6,138$5,664$5,225$4,818$4,515
9 years$5,850$5,344$4,878$4,450$4,058$3,767
10 years$5,211$4,710$4,253$3,836$3,457$3,180
11 years$4,689$4,193$3,744$3,339$2,973$2,708
12 years$4,255$3,764$3,323$2,928$2,577$2,324
13 years$3,887$3,401$2,969$2,585$2,247$2,006
14 years$3,572$3,092$2,668$2,295$1,970$1,740
15 years$3,300$2,824$2,408$2,047$1,734$1,516
16 years$3,061$2,591$2,184$1,833$1,533$1,326
17 years$2,851$2,386$1,987$1,647$1,359$1,163
18 years$2,665$2,205$1,814$1,484$1,208$1,022
19 years$2,498$2,044$1,660$1,341$1,077$901
20 years$2,348$1,899$1,524$1,214$962$796
21 years$2,213$1,769$1,402$1,102$861$704
22 years$2,090$1,651$1,292$1,002$772$623
23 years$1,978$1,544$1,193$913$693$553
24 years$1,876$1,447$1,103$832$623$491
25 years$1,782$1,358$1,022$760$560$436
26 years$1,695$1,276$948$695$505$388
27 years$1,614$1,201$880$636$455$346
28 years$1,540$1,132$818$583$411$308
29 years$1,471$1,068$761$535$371$275
30 years$1,407$1,008$709$491$335$245
31 years$1,346$953$661$451$303$219
32 years$1,290$902$617$414$274$195
33 years$1,237$854$576$381$248$174
34 years$1,188$810$538$350$224$156
35 years$1,141$768$503$323$203$139
36 years$1,097$729$471$297$184$125
37 years$1,056$692$440$274$167$111
38 years$1,017$658$412$252$151$100
39 years$980$626$386$233$137$89
40 years$945$595$362$215$124$80
41 years$911$567$340$198$113$71
42 years$880$540$319$183$102$64
43 years$850$514$299$169$93$57
44 years$821$490$281$156$84$51
45 years$794$467$264$144$77$46
46 years$768$446$247$133$70$41
47 years$743$425$233$123$63$37
48 years$719$406$218$113$57$33
49 years$696$388$205$105$52$29
50 years$675$370$193$97$47$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $691,000, adding $3,867 every year, while hoping to spend $25,519 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: 53/25/22 Blend
57$691,000$691,000$691,000$691,000
58$765,471$728,848$718,137$801,210
59$816,397$737,409$715,043$834,790
60$871,662$745,535$710,990$868,341
61$931,682$753,177$705,918$904,312
62$996,914$760,283$699,767$942,943
63$1,067,861$766,798$692,471$984,500
64$1,145,076$772,665$683,962$1,029,273
65$1,229,169$777,820$674,170$1,077,587
66$1,320,809$782,198$663,019$1,129,799
67$1,420,733$785,728$650,432$1,186,303
68$1,529,753$788,334$636,327$1,247,535
69$1,648,763$789,938$620,619$1,313,976
70$1,778,746$790,453$603,218$1,386,158
71$1,920,784$789,791$584,032$1,464,670
72$2,076,068$787,856$562,962$1,550,158
73$2,245,912$784,546$539,906$1,643,341
74$2,431,760$779,753$514,757$1,745,010
75$2,635,202$773,363$487,404$1,856,038
76$2,857,990$765,256$457,730$1,977,390
77$3,102,054$755,302$425,613$2,110,131
78$3,369,517$743,366$390,925$2,255,439
79$3,662,720$729,303$353,533$2,414,611
80$3,984,240$712,961$313,298$2,589,081
81$4,336,913$694,177$270,075$2,780,430
82$4,723,868$672,781$223,711$2,990,407
83$5,148,546$648,591$174,049$3,220,938
84$5,614,741$621,415$120,923$3,474,150
85$6,126,631$591,051$64,161$3,752,392
86$6,688,818$557,283$3,581$4,058,254
87$7,306,372$519,884$0$4,394,596
88$7,984,878$478,615$0$4,778,907
89$8,730,489$433,221$0$5,202,161
90$9,549,985$383,434$0$5,667,405
91$10,450,831$328,971$0$6,178,927
92$11,441,257$269,531$0$6,741,452
93$12,530,326$204,799$0$7,360,192
94$13,728,025$134,440$0$8,040,891
95$15,045,357$58,100$0$8,789,883
96$16,494,444$0$0$9,614,150
97$18,088,644$0$0$10,528,154
98$19,842,673$0$0$11,551,456
99$21,772,746$0$0$12,677,542
100$23,896,730$0$0$13,916,846