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%19.1%
1 years$57,145$56,636$56,139$55,654$55,181$53,160
2 years$28,289$27,763$27,252$26,757$26,277$24,263
3 years$18,672$18,143$17,634$17,143$16,671$14,728
4 years$13,865$13,337$12,833$12,351$11,890$10,032
5 years$10,981$10,456$9,959$9,487$9,039$7,271
6 years$9,059$8,539$8,048$7,587$7,152$5,476
7 years$7,687$7,171$6,688$6,237$5,816$4,232
8 years$6,658$6,147$5,672$5,232$4,825$3,331
9 years$5,858$5,352$4,885$4,457$4,064$2,657
10 years$5,219$4,717$4,259$3,842$3,462$2,141
11 years$4,696$4,199$3,750$3,344$2,978$1,739
12 years$4,261$3,769$3,328$2,933$2,580$1,421
13 years$3,893$3,406$2,973$2,589$2,250$1,167
14 years$3,577$3,096$2,671$2,298$1,973$962
15 years$3,304$2,828$2,412$2,050$1,737$796
16 years$3,066$2,595$2,187$1,835$1,535$660
17 years$2,856$2,390$1,990$1,649$1,361$548
18 years$2,669$2,208$1,816$1,486$1,210$456
19 years$2,502$2,047$1,663$1,343$1,079$380
20 years$2,352$1,902$1,526$1,216$963$318
21 years$2,216$1,772$1,404$1,104$862$265
22 years$2,093$1,654$1,294$1,004$773$222
23 years$1,981$1,547$1,195$914$694$186
24 years$1,878$1,449$1,105$834$624$155
25 years$1,784$1,360$1,023$761$561$130
26 years$1,697$1,278$949$696$505$109
27 years$1,617$1,203$881$637$456$91
28 years$1,542$1,133$819$584$411$77
29 years$1,473$1,069$762$535$371$64
30 years$1,409$1,010$710$491$335$54
31 years$1,348$955$662$451$303$45
32 years$1,292$903$618$415$274$38
33 years$1,239$855$577$381$248$32
34 years$1,190$811$539$351$225$27
35 years$1,143$769$504$323$204$22
36 years$1,099$730$471$297$184$19
37 years$1,058$693$441$274$167$16
38 years$1,018$659$413$253$152$13
39 years$981$626$387$233$137$11
40 years$946$596$363$215$125$9
41 years$913$567$340$198$113$8
42 years$881$540$319$183$103$7
43 years$851$515$299$169$93$6
44 years$822$491$281$156$85$5
45 years$795$468$264$144$77$4
46 years$769$446$248$133$70$3
47 years$744$426$233$123$63$3
48 years$720$407$219$114$57$2
49 years$697$388$206$105$52$2
50 years$676$371$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 $692,000, adding $5,851 every year, while hoping to spend $23,383 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: 61/32/7 Blend
57$692,000$692,000$692,000$692,000
58$768,619$731,943$721,217$814,072
59$822,139$742,929$720,499$856,166
60$880,334$753,670$718,972$898,844
61$943,657$764,128$716,587$944,813
62$1,012,605$774,265$713,287$994,392
63$1,087,725$784,039$709,017$1,047,931
64$1,169,620$793,404$703,716$1,105,814
65$1,258,954$802,313$697,323$1,168,467
66$1,356,456$810,715$689,772$1,236,359
67$1,462,929$818,554$680,993$1,310,007
68$1,579,257$825,774$670,917$1,389,981
69$1,706,416$832,311$659,467$1,476,908
70$1,845,476$838,099$646,564$1,571,483
71$1,997,617$843,069$632,127$1,674,468
72$2,164,140$847,146$616,070$1,786,706
73$2,346,476$850,249$598,301$1,909,126
74$2,546,200$852,295$578,728$2,042,752
75$2,765,048$853,193$557,251$2,188,714
76$3,004,931$852,847$533,767$2,348,256
77$3,267,954$851,157$508,168$2,522,753
78$3,556,436$848,015$480,343$2,713,719
79$3,872,931$843,306$450,172$2,922,823
80$4,220,251$836,909$417,534$3,151,906
81$4,601,494$828,695$382,299$3,403,000
82$5,020,074$818,528$344,333$3,678,343
83$5,479,749$806,264$303,496$3,980,403
84$5,984,662$791,749$259,642$4,311,902
85$6,539,374$774,821$212,616$4,675,843
86$7,148,911$755,308$162,260$5,075,534
87$7,818,810$733,029$108,406$5,514,624
88$8,555,172$707,791$50,881$5,997,137
89$9,364,716$679,389$0$6,527,509
90$10,254,847$647,608$0$7,111,416
91$11,233,721$612,221$0$7,757,572
92$12,310,325$572,985$0$8,468,133
93$13,494,563$529,646$0$9,249,671
94$14,797,343$481,933$0$10,109,427
95$16,230,687$429,562$0$11,055,388
96$17,807,838$372,232$0$12,096,355
97$19,543,389$309,623$0$13,242,030
98$21,453,420$241,400$0$14,503,110
99$23,555,647$167,207$0$15,891,385
100$25,869,592$86,668$0$17,419,851