Can I retire at age 58 with 694,000?

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 $694,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$57,310$56,799$56,301$55,815$55,341$53,763
2 years$28,371$27,843$27,331$26,834$26,353$24,776
3 years$18,726$18,196$17,685$17,193$16,719$15,192
4 years$13,905$13,376$12,870$12,387$11,924$10,459
5 years$11,013$10,487$9,988$9,514$9,065$7,665
6 years$9,085$8,563$8,072$7,608$7,173$5,839
7 years$7,709$7,191$6,707$6,255$5,833$4,567
8 years$6,677$6,164$5,688$5,247$4,839$3,639
9 years$5,875$5,367$4,899$4,470$4,075$2,940
10 years$5,234$4,731$4,271$3,853$3,472$2,401
11 years$4,710$4,212$3,761$3,353$2,986$1,977
12 years$4,273$3,780$3,337$2,941$2,588$1,638
13 years$3,904$3,416$2,982$2,597$2,257$1,364
14 years$3,588$3,105$2,679$2,305$1,978$1,141
15 years$3,314$2,837$2,419$2,056$1,742$958
16 years$3,075$2,603$2,193$1,841$1,539$807
17 years$2,864$2,397$1,996$1,654$1,365$681
18 years$2,676$2,215$1,822$1,490$1,214$576
19 years$2,509$2,053$1,668$1,347$1,082$487
20 years$2,359$1,907$1,531$1,220$966$413
21 years$2,223$1,777$1,408$1,107$865$351
22 years$2,099$1,658$1,297$1,006$775$298
23 years$1,987$1,551$1,198$917$696$254
24 years$1,884$1,453$1,108$836$625$216
25 years$1,789$1,364$1,026$763$563$184
26 years$1,702$1,282$952$698$507$157
27 years$1,621$1,206$884$639$457$134
28 years$1,547$1,137$822$585$412$114
29 years$1,477$1,072$765$537$372$97
30 years$1,413$1,013$712$493$336$83
31 years$1,352$957$664$453$304$71
32 years$1,296$906$619$416$275$61
33 years$1,243$858$578$382$249$52
34 years$1,193$813$540$352$225$44
35 years$1,146$771$505$324$204$38
36 years$1,102$732$473$298$185$32
37 years$1,061$695$442$275$168$28
38 years$1,021$661$414$253$152$23
39 years$984$628$388$234$138$20
40 years$949$598$364$215$125$17
41 years$915$569$341$199$113$15
42 years$884$542$320$183$103$13
43 years$853$516$300$169$93$11
44 years$825$492$282$156$85$9
45 years$797$469$265$144$77$8
46 years$771$448$249$133$70$7
47 years$746$427$234$123$63$6
48 years$722$408$219$114$58$5
49 years$699$389$206$105$52$4
50 years$678$372$194$97$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $694,000, adding $4,448 every year, while hoping to spend $52,215 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: 52/22/26 Blend
57$694,000$694,000$694,000$694,000
58$769,376$732,594$721,837$803,583
59$792,296$712,935$690,462$808,112
60$815,804$690,562$656,286$807,363
61$839,904$665,288$619,160$805,496
62$864,601$636,914$578,929$802,424
63$889,896$605,228$535,429$798,058
64$915,790$570,009$488,490$792,299
65$942,282$531,021$437,936$785,046
66$969,368$488,014$383,580$776,189
67$997,042$440,725$325,228$765,612
68$1,025,296$388,877$262,679$753,192
69$1,054,119$332,174$195,722$738,798
70$1,083,495$270,307$124,134$722,291
71$1,113,406$202,946$47,687$703,523
72$1,143,829$129,746$0$682,335
73$1,174,736$50,340$0$667,963
74$1,206,094$0$0$665,556
75$1,237,864$0$0$670,384
76$1,269,999$0$0$687,572
77$1,302,448$0$0$704,901
78$1,335,148$0$0$722,334
79$1,368,029$0$0$739,829
80$1,401,010$0$0$757,338
81$1,433,998$0$0$774,809
82$1,466,888$0$0$792,178
83$1,499,562$0$0$809,377
84$1,531,885$0$0$826,326
85$1,563,705$0$0$842,938
86$1,594,850$0$0$859,112
87$1,625,130$0$0$874,737
88$1,654,328$0$0$889,688
89$1,682,201$0$0$903,824
90$1,708,481$0$0$916,989
91$1,732,864$0$0$929,007
92$1,755,013$0$0$939,683
93$1,774,552$0$0$948,800
94$1,791,059$0$0$956,115
95$1,804,069$0$0$961,358
96$1,813,061$0$0$964,229
97$1,817,457$0$0$964,394
98$1,816,614$0$0$961,483
99$1,809,820$0$0$955,085
100$1,796,281$0$0$944,743