Can I retire at age 58 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$57,392$56,881$56,382$55,896$55,420$55,187
2 years$28,412$27,883$27,370$26,873$26,391$26,155
3 years$18,753$18,222$17,710$17,218$16,743$16,513
4 years$13,925$13,395$12,889$12,404$11,941$11,718
5 years$11,028$10,502$10,002$9,528$9,078$8,861
6 years$9,098$8,576$8,083$7,619$7,183$6,974
7 years$7,720$7,202$6,717$6,264$5,842$5,641
8 years$6,687$6,173$5,697$5,255$4,846$4,653
9 years$5,884$5,375$4,907$4,476$4,081$3,896
10 years$5,241$4,738$4,278$3,858$3,477$3,300
11 years$4,716$4,218$3,766$3,358$2,991$2,821
12 years$4,279$3,786$3,342$2,945$2,592$2,430
13 years$3,909$3,421$2,986$2,600$2,260$2,105
14 years$3,593$3,110$2,683$2,308$1,981$1,834
15 years$3,319$2,841$2,422$2,059$1,744$1,604
16 years$3,079$2,606$2,196$1,843$1,542$1,408
17 years$2,868$2,400$1,998$1,656$1,367$1,240
18 years$2,680$2,218$1,824$1,493$1,215$1,095
19 years$2,513$2,056$1,670$1,349$1,083$969
20 years$2,362$1,910$1,533$1,221$968$860
21 years$2,226$1,779$1,410$1,109$866$764
22 years$2,102$1,661$1,299$1,008$776$680
23 years$1,990$1,553$1,200$918$697$605
24 years$1,887$1,455$1,110$837$626$540
25 years$1,792$1,366$1,028$765$564$482
26 years$1,705$1,284$953$699$508$431
27 years$1,624$1,208$885$640$458$386
28 years$1,549$1,138$823$586$413$345
29 years$1,479$1,074$766$538$373$309
30 years$1,415$1,014$713$493$337$277
31 years$1,354$959$665$453$305$249
32 years$1,298$907$620$416$276$223
33 years$1,245$859$579$383$249$200
34 years$1,195$814$541$352$226$180
35 years$1,148$772$506$324$204$162
36 years$1,104$733$473$299$185$145
37 years$1,062$696$443$275$168$130
38 years$1,023$662$415$254$152$117
39 years$985$629$389$234$138$105
40 years$950$599$364$216$125$95
41 years$917$570$342$199$114$85
42 years$885$543$320$184$103$77
43 years$855$517$301$170$94$69
44 years$826$493$282$157$85$62
45 years$798$470$265$145$77$56
46 years$772$448$249$134$70$50
47 years$747$428$234$123$64$45
48 years$723$408$220$114$58$41
49 years$700$390$207$105$52$37
50 years$679$373$194$97$48$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $695,000, adding $6,756 every year, while hoping to spend $49,084 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: 49/22/29 Blend
57$695,000$695,000$695,000$695,000
58$772,859$736,024$725,251$804,065
59$799,465$719,864$697,322$810,504
60$827,141$701,267$666,812$812,128
61$855,942$680,062$633,584$812,947
62$885,931$656,068$597,491$812,909
63$917,173$629,093$558,384$811,960
64$949,739$598,933$516,105$810,044
65$983,707$565,374$470,488$807,105
66$1,019,157$528,190$421,362$803,081
67$1,056,179$487,139$368,546$797,913
68$1,094,869$441,969$311,852$791,538
69$1,135,331$392,411$251,084$783,889
70$1,177,677$338,181$186,037$774,902
71$1,222,028$278,979$116,498$764,509
72$1,268,516$214,491$42,241$752,642
73$1,317,283$144,380$0$739,230
74$1,368,486$68,294$0$735,652
75$1,422,291$0$0$745,081
76$1,478,883$0$0$757,864
77$1,538,460$0$0$788,752
78$1,601,238$0$0$821,328
79$1,667,455$0$0$855,720
80$1,737,366$0$0$892,064
81$1,811,254$0$0$930,510
82$1,889,423$0$0$971,222
83$1,972,208$0$0$1,014,380
84$2,059,974$0$0$1,060,179
85$2,153,121$0$0$1,108,833
86$2,252,083$0$0$1,160,576
87$2,357,339$0$0$1,215,664
88$2,469,411$0$0$1,274,377
89$2,588,871$0$0$1,337,022
90$2,716,344$0$0$1,403,936
91$2,852,516$0$0$1,475,487
92$2,998,140$0$0$1,552,080
93$3,154,040$0$0$1,634,157
94$3,321,119$0$0$1,722,204
95$3,500,370$0$0$1,816,755
96$3,692,879$0$0$1,918,395
97$3,899,842$0$0$2,027,767
98$4,122,570$0$0$2,145,576
99$4,362,501$0$0$2,272,597
100$4,621,217$0$0$2,409,682