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%14.5%
1 years$57,062$56,554$56,058$55,574$55,101$54,077
2 years$28,249$27,722$27,213$26,718$26,239$25,211
3 years$18,645$18,117$17,608$17,119$16,647$15,647
4 years$13,845$13,318$12,814$12,333$11,873$10,909
5 years$10,965$10,441$9,944$9,473$9,025$8,100
6 years$9,046$8,526$8,037$7,576$7,142$6,256
7 years$7,676$7,160$6,678$6,228$5,808$4,962
8 years$6,648$6,138$5,664$5,225$4,818$4,012
9 years$5,850$5,344$4,878$4,450$4,058$3,291
10 years$5,211$4,710$4,253$3,836$3,457$2,729
11 years$4,689$4,193$3,744$3,339$2,973$2,283
12 years$4,255$3,764$3,323$2,928$2,577$1,923
13 years$3,887$3,401$2,969$2,585$2,247$1,629
14 years$3,572$3,092$2,668$2,295$1,970$1,386
15 years$3,300$2,824$2,408$2,047$1,734$1,184
16 years$3,061$2,591$2,184$1,833$1,533$1,015
17 years$2,851$2,386$1,987$1,647$1,359$872
18 years$2,665$2,205$1,814$1,484$1,208$751
19 years$2,498$2,044$1,660$1,341$1,077$648
20 years$2,348$1,899$1,524$1,214$962$560
21 years$2,213$1,769$1,402$1,102$861$485
22 years$2,090$1,651$1,292$1,002$772$420
23 years$1,978$1,544$1,193$913$693$364
24 years$1,876$1,447$1,103$832$623$316
25 years$1,782$1,358$1,022$760$560$275
26 years$1,695$1,276$948$695$505$239
27 years$1,614$1,201$880$636$455$208
28 years$1,540$1,132$818$583$411$181
29 years$1,471$1,068$761$535$371$158
30 years$1,407$1,008$709$491$335$137
31 years$1,346$953$661$451$303$120
32 years$1,290$902$617$414$274$104
33 years$1,237$854$576$381$248$91
34 years$1,188$810$538$350$224$79
35 years$1,141$768$503$323$203$69
36 years$1,097$729$471$297$184$60
37 years$1,056$692$440$274$167$53
38 years$1,017$658$412$252$151$46
39 years$980$626$386$233$137$40
40 years$945$595$362$215$124$35
41 years$911$567$340$198$113$31
42 years$880$540$319$183$102$27
43 years$850$514$299$169$93$23
44 years$821$490$281$156$84$20
45 years$794$467$264$144$77$18
46 years$768$446$247$133$70$15
47 years$743$425$233$123$63$14
48 years$719$406$218$113$57$12
49 years$696$388$205$105$52$10
50 years$675$370$193$97$47$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $691,000, adding $5,879 every year, while hoping to spend $49,311 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: 78/16/6 Blend
57$691,000$691,000$691,000$691,000
58$767,546$730,923$720,213$826,548
59$793,369$714,272$691,873$849,426
60$820,174$695,152$660,932$867,486
61$848,008$673,390$627,249$885,822
62$876,922$648,804$590,679$904,439
63$906,972$621,199$551,071$923,341
64$938,216$590,371$508,265$942,536
65$970,716$556,102$462,094$962,030
66$1,004,542$518,163$412,387$981,833
67$1,039,763$476,312$358,960$1,001,954
68$1,076,460$430,291$301,626$1,022,407
69$1,114,715$379,832$240,186$1,043,206
70$1,154,618$324,645$174,435$1,064,367
71$1,196,266$264,431$104,156$1,085,909
72$1,239,765$198,867$29,124$1,107,857
73$1,285,227$127,618$0$1,130,235
74$1,332,775$50,326$0$1,156,336
75$1,382,542$0$0$1,185,136
76$1,434,670$0$0$1,220,701
77$1,489,315$0$0$1,267,278
78$1,546,645$0$0$1,316,151
79$1,606,844$0$0$1,367,478
80$1,670,110$0$0$1,421,427
81$1,736,659$0$0$1,478,185
82$1,806,727$0$0$1,537,953
83$1,880,569$0$0$1,600,951
84$1,958,463$0$0$1,667,417
85$2,040,714$0$0$1,737,613
86$2,127,654$0$0$1,811,823
87$2,219,642$0$0$1,890,356
88$2,317,076$0$0$1,973,553
89$2,420,384$0$0$2,061,782
90$2,530,040$0$0$2,155,449
91$2,646,558$0$0$2,254,997
92$2,770,502$0$0$2,360,908
93$2,902,490$0$0$2,473,713
94$3,043,196$0$0$2,593,992
95$3,193,360$0$0$2,722,380
96$3,353,794$0$0$2,859,574
97$3,525,385$0$0$3,006,336
98$3,709,108$0$0$3,163,503
99$3,906,032$0$0$3,331,992
100$4,117,326$0$0$3,512,810