Can I retire at age 58 with 692,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%12.4%
1 years$57,145$56,636$56,139$55,654$55,181$54,628
2 years$28,289$27,763$27,252$26,757$26,277$25,719
3 years$18,672$18,143$17,634$17,143$16,671$16,127
4 years$13,865$13,337$12,833$12,351$11,890$11,363
5 years$10,981$10,456$9,959$9,487$9,039$8,531
6 years$9,059$8,539$8,048$7,587$7,152$6,664
7 years$7,687$7,171$6,688$6,237$5,816$5,348
8 years$6,658$6,147$5,672$5,232$4,825$4,377
9 years$5,858$5,352$4,885$4,457$4,064$3,635
10 years$5,219$4,717$4,259$3,842$3,462$3,053
11 years$4,696$4,199$3,750$3,344$2,978$2,588
12 years$4,261$3,769$3,328$2,933$2,580$2,209
13 years$3,893$3,406$2,973$2,589$2,250$1,897
14 years$3,577$3,096$2,671$2,298$1,973$1,637
15 years$3,304$2,828$2,412$2,050$1,737$1,419
16 years$3,066$2,595$2,187$1,835$1,535$1,234
17 years$2,856$2,390$1,990$1,649$1,361$1,076
18 years$2,669$2,208$1,816$1,486$1,210$941
19 years$2,502$2,047$1,663$1,343$1,079$824
20 years$2,352$1,902$1,526$1,216$963$724
21 years$2,216$1,772$1,404$1,104$862$636
22 years$2,093$1,654$1,294$1,004$773$560
23 years$1,981$1,547$1,195$914$694$494
24 years$1,878$1,449$1,105$834$624$436
25 years$1,784$1,360$1,023$761$561$385
26 years$1,697$1,278$949$696$505$341
27 years$1,617$1,203$881$637$456$301
28 years$1,542$1,133$819$584$411$267
29 years$1,473$1,069$762$535$371$236
30 years$1,409$1,010$710$491$335$209
31 years$1,348$955$662$451$303$186
32 years$1,292$903$618$415$274$165
33 years$1,239$855$577$381$248$146
34 years$1,190$811$539$351$225$130
35 years$1,143$769$504$323$204$115
36 years$1,099$730$471$297$184$102
37 years$1,058$693$441$274$167$91
38 years$1,018$659$413$253$152$81
39 years$981$626$387$233$137$72
40 years$946$596$363$215$125$64
41 years$913$567$340$198$113$57
42 years$881$540$319$183$103$50
43 years$851$515$299$169$93$45
44 years$822$491$281$156$85$40
45 years$795$468$264$144$77$35
46 years$769$446$248$133$70$31
47 years$744$426$233$123$63$28
48 years$720$407$219$114$57$25
49 years$697$388$206$105$52$22
50 years$676$371$193$97$47$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $692,000, adding $3,975 every year, while hoping to spend $48,490 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: 62/25/13 Blend
57$692,000$692,000$692,000$692,000
58$766,684$730,008$719,282$811,586
59$793,293$714,186$691,785$826,369
60$820,991$695,963$661,742$836,607
61$849,837$675,170$629,016$846,601
62$879,897$651,630$593,464$856,327
63$911,239$625,152$554,938$865,763
64$943,938$595,538$513,281$874,888
65$978,075$562,574$468,331$883,680
66$1,013,736$526,038$419,917$892,115
67$1,051,015$485,692$367,863$900,172
68$1,090,014$441,286$311,982$907,831
69$1,130,843$392,556$252,080$915,070
70$1,173,620$339,222$187,955$921,872
71$1,218,474$280,989$119,397$928,218
72$1,265,545$217,544$46,184$934,092
73$1,314,985$148,558$0$939,481
74$1,366,960$73,684$0$948,807
75$1,421,648$0$0$964,754
76$1,479,244$0$0$982,991
77$1,539,963$0$0$1,023,603
78$1,604,034$0$0$1,066,480
79$1,671,711$0$0$1,111,791
80$1,743,269$0$0$1,159,725
81$1,819,008$0$0$1,210,486
82$1,899,258$0$0$1,264,298
83$1,984,377$0$0$1,321,404
84$2,074,757$0$0$1,382,071
85$2,170,826$0$0$1,446,592
86$2,273,055$0$0$1,515,286
87$2,381,956$0$0$1,588,502
88$2,498,093$0$0$1,666,624
89$2,622,080$0$0$1,750,072
90$2,754,594$0$0$1,839,305
91$2,896,373$0$0$1,934,828
92$3,048,229$0$0$2,037,194
93$3,211,052$0$0$2,147,008
94$3,385,818$0$0$2,264,938
95$3,573,598$0$0$2,391,712
96$3,775,568$0$0$2,528,134
97$3,993,019$0$0$2,675,083
98$4,227,369$0$0$2,833,528
99$4,480,175$0$0$3,004,529
100$4,753,148$0$0$3,189,255