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%15.6%
1 years$57,062$56,554$56,058$55,574$55,101$53,835
2 years$28,249$27,722$27,213$26,718$26,239$24,970
3 years$18,645$18,117$17,608$17,119$16,647$15,415
4 years$13,845$13,318$12,814$12,333$11,873$10,688
5 years$10,965$10,441$9,944$9,473$9,025$7,890
6 years$9,046$8,526$8,037$7,576$7,142$6,057
7 years$7,676$7,160$6,678$6,228$5,808$4,775
8 years$6,648$6,138$5,664$5,225$4,818$3,836
9 years$5,850$5,344$4,878$4,450$4,058$3,126
10 years$5,211$4,710$4,253$3,836$3,457$2,575
11 years$4,689$4,193$3,744$3,339$2,973$2,139
12 years$4,255$3,764$3,323$2,928$2,577$1,789
13 years$3,887$3,401$2,969$2,585$2,247$1,504
14 years$3,572$3,092$2,668$2,295$1,970$1,270
15 years$3,300$2,824$2,408$2,047$1,734$1,077
16 years$3,061$2,591$2,184$1,833$1,533$916
17 years$2,851$2,386$1,987$1,647$1,359$781
18 years$2,665$2,205$1,814$1,484$1,208$667
19 years$2,498$2,044$1,660$1,341$1,077$571
20 years$2,348$1,899$1,524$1,214$962$489
21 years$2,213$1,769$1,402$1,102$861$420
22 years$2,090$1,651$1,292$1,002$772$361
23 years$1,978$1,544$1,193$913$693$310
24 years$1,876$1,447$1,103$832$623$267
25 years$1,782$1,358$1,022$760$560$230
26 years$1,695$1,276$948$695$505$198
27 years$1,614$1,201$880$636$455$171
28 years$1,540$1,132$818$583$411$148
29 years$1,471$1,068$761$535$371$127
30 years$1,407$1,008$709$491$335$110
31 years$1,346$953$661$451$303$95
32 years$1,290$902$617$414$274$82
33 years$1,237$854$576$381$248$71
34 years$1,188$810$538$350$224$61
35 years$1,141$768$503$323$203$53
36 years$1,097$729$471$297$184$46
37 years$1,056$692$440$274$167$40
38 years$1,017$658$412$252$151$34
39 years$980$626$386$233$137$30
40 years$945$595$362$215$124$26
41 years$911$567$340$198$113$22
42 years$880$540$319$183$102$19
43 years$850$514$299$169$93$17
44 years$821$490$281$156$84$14
45 years$794$467$264$144$77$12
46 years$768$446$247$133$70$11
47 years$743$425$233$123$63$9
48 years$719$406$218$113$57$8
49 years$696$388$205$105$52$7
50 years$675$370$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 $691,000, adding $6,028 every year, while hoping to spend $30,946 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: 67/14/19 Blend
57$691,000$691,000$691,000$691,000
58$767,700$731,077$720,366$815,137
59$813,079$733,973$711,572$850,534
60$862,050$735,975$701,447$885,081
61$914,945$737,004$689,912$922,109
62$972,133$736,980$676,887$961,862
63$1,034,015$735,817$662,287$1,004,607
64$1,101,035$733,423$646,025$1,050,642
65$1,173,680$729,700$628,006$1,100,292
66$1,252,486$724,545$608,134$1,153,920
67$1,338,041$717,850$586,308$1,211,925
68$1,430,994$709,497$562,422$1,274,747
69$1,532,056$699,363$536,364$1,342,872
70$1,642,013$687,319$508,019$1,416,838
71$1,761,726$673,225$477,266$1,497,237
72$1,892,145$656,936$443,977$1,584,725
73$2,034,315$638,297$408,022$1,680,023
74$2,189,385$617,144$369,260$1,783,930
75$2,358,620$593,302$327,548$1,897,326
76$2,543,414$566,588$282,736$2,021,183
77$2,745,300$536,809$234,665$2,156,574
78$2,965,965$503,757$183,171$2,304,682
79$3,207,269$467,216$128,083$2,466,815
80$3,471,257$426,957$69,220$2,644,414
81$3,760,182$382,735$6,396$2,839,071
82$4,076,526$334,294$0$3,052,541
83$4,423,020$281,363$0$3,299,057
84$4,802,674$223,655$0$3,570,644
85$5,218,799$160,867$0$3,868,407
86$5,675,047$92,680$0$4,194,993
87$6,175,436$18,756$0$4,553,318
88$6,724,393$0$0$4,946,599
89$7,326,794$0$0$5,387,820
90$7,988,010$0$0$5,875,334
91$8,713,957$0$0$6,410,620
92$9,511,152$0$0$6,998,489
93$10,386,776$0$0$7,644,242
94$11,348,736$0$0$8,353,716
95$12,405,744$0$0$9,133,344
96$13,567,400$0$0$9,990,212
97$14,844,278$0$0$10,932,127
98$16,248,026$0$0$11,967,689
99$17,791,480$0$0$13,106,373
100$19,488,780$0$0$14,358,619