Can I retire at age 58 with 692,000?

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 $692,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$57,145$56,636$56,139$55,654$55,181$54,856
2 years$28,289$27,763$27,252$26,757$26,277$25,949
3 years$18,672$18,143$17,634$17,143$16,671$16,351
4 years$13,865$13,337$12,833$12,351$11,890$11,579
5 years$10,981$10,456$9,959$9,487$9,039$8,739
6 years$9,059$8,539$8,048$7,587$7,152$6,863
7 years$7,687$7,171$6,688$6,237$5,816$5,539
8 years$6,658$6,147$5,672$5,232$4,825$4,559
9 years$5,858$5,352$4,885$4,457$4,064$3,808
10 years$5,219$4,717$4,259$3,842$3,462$3,218
11 years$4,696$4,199$3,750$3,344$2,978$2,744
12 years$4,261$3,769$3,328$2,933$2,580$2,357
13 years$3,893$3,406$2,973$2,589$2,250$2,038
14 years$3,577$3,096$2,671$2,298$1,973$1,770
15 years$3,304$2,828$2,412$2,050$1,737$1,544
16 years$3,066$2,595$2,187$1,835$1,535$1,352
17 years$2,856$2,390$1,990$1,649$1,361$1,187
18 years$2,669$2,208$1,816$1,486$1,210$1,046
19 years$2,502$2,047$1,663$1,343$1,079$923
20 years$2,352$1,902$1,526$1,216$963$816
21 years$2,216$1,772$1,404$1,104$862$723
22 years$2,093$1,654$1,294$1,004$773$641
23 years$1,981$1,547$1,195$914$694$570
24 years$1,878$1,449$1,105$834$624$507
25 years$1,784$1,360$1,023$761$561$451
26 years$1,697$1,278$949$696$505$402
27 years$1,617$1,203$881$637$456$358
28 years$1,542$1,133$819$584$411$320
29 years$1,473$1,069$762$535$371$286
30 years$1,409$1,010$710$491$335$255
31 years$1,348$955$662$451$303$228
32 years$1,292$903$618$415$274$204
33 years$1,239$855$577$381$248$183
34 years$1,190$811$539$351$225$163
35 years$1,143$769$504$323$204$146
36 years$1,099$730$471$297$184$131
37 years$1,058$693$441$274$167$117
38 years$1,018$659$413$253$152$105
39 years$981$626$387$233$137$94
40 years$946$596$363$215$125$84
41 years$913$567$340$198$113$76
42 years$881$540$319$183$103$68
43 years$851$515$299$169$93$61
44 years$822$491$281$156$85$55
45 years$795$468$264$144$77$49
46 years$769$446$248$133$70$44
47 years$744$426$233$123$63$39
48 years$720$407$219$114$57$35
49 years$697$388$206$105$52$32
50 years$676$371$193$97$47$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $692,000, adding $5,067 every year, while hoping to spend $21,992 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: 82/11/7 Blend
57$692,000$692,000$692,000$692,000
58$767,811$731,135$720,409$829,830
59$822,728$743,561$721,143$883,559
60$882,510$755,859$721,165$939,068
61$947,629$767,999$720,427$999,329
62$1,018,606$779,950$718,881$1,064,806
63$1,096,014$791,678$716,473$1,136,008
64$1,180,483$803,146$713,151$1,213,497
65$1,272,708$814,315$708,856$1,297,891
66$1,373,451$825,144$703,530$1,389,872
67$1,483,554$835,587$697,110$1,490,190
68$1,603,944$845,598$689,530$1,599,672
69$1,735,638$855,124$680,721$1,719,227
70$1,879,761$864,112$670,612$1,849,860
71$2,037,547$872,504$659,128$1,992,674
72$2,210,357$880,238$646,190$2,148,887
73$2,399,692$887,248$631,716$2,319,839
74$2,607,200$893,463$615,618$2,507,009
75$2,834,701$898,809$597,808$2,712,023
76$3,084,197$903,206$578,190$2,936,676
77$3,357,892$906,571$556,666$3,182,943
78$3,658,215$908,811$533,134$3,453,001
79$3,987,843$909,833$507,484$3,749,250
80$4,349,723$909,535$479,604$4,074,333
81$4,747,101$907,808$449,376$4,431,162
82$5,183,552$904,538$416,678$4,822,948
83$5,663,018$899,603$381,380$5,253,227
84$6,189,838$892,876$343,348$5,725,896
85$6,768,793$884,218$302,442$6,245,251
86$7,405,150$873,485$258,514$6,816,023
87$8,104,713$860,524$211,412$7,443,428
88$8,873,875$845,170$160,975$8,133,214
89$9,719,679$827,253$107,037$8,891,712
90$10,649,886$806,588$49,423$9,725,903
91$11,673,047$782,984$0$10,643,478
92$12,798,582$756,234$0$11,653,812
93$14,036,870$726,122$0$12,769,343
94$15,399,348$692,419$0$13,996,684
95$16,898,616$654,883$0$15,347,193
96$18,548,559$613,255$0$16,833,386
97$20,364,473$567,266$0$18,469,056
98$22,363,216$516,628$0$20,269,403
99$24,563,359$461,039$0$22,251,173
100$26,985,369$400,177$0$24,432,823