Can I retire at age 58 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$57,723$57,209$56,707$56,217$55,739$54,952
2 years$28,576$28,043$27,528$27,028$26,542$25,751
3 years$18,861$18,327$17,812$17,317$16,840$16,068
4 years$14,005$13,472$12,963$12,476$12,010$11,265
5 years$11,092$10,562$10,060$9,583$9,130$8,413
6 years$9,151$8,625$8,130$7,663$7,224$6,536
7 years$7,764$7,243$6,756$6,300$5,875$5,217
8 years$6,725$6,209$5,729$5,285$4,874$4,245
9 years$5,917$5,406$4,935$4,502$4,105$3,505
10 years$5,272$4,765$4,302$3,881$3,497$2,926
11 years$4,744$4,242$3,788$3,377$3,008$2,464
12 years$4,304$3,807$3,361$2,962$2,607$2,091
13 years$3,932$3,441$3,003$2,615$2,273$1,784
14 years$3,614$3,128$2,698$2,322$1,992$1,529
15 years$3,338$2,857$2,436$2,070$1,754$1,316
16 years$3,097$2,621$2,209$1,854$1,550$1,137
17 years$2,884$2,414$2,010$1,666$1,375$984
18 years$2,696$2,231$1,835$1,501$1,222$855
19 years$2,527$2,067$1,680$1,356$1,090$743
20 years$2,376$1,921$1,542$1,228$973$648
21 years$2,239$1,789$1,418$1,115$871$565
22 years$2,114$1,670$1,307$1,014$781$494
23 years$2,001$1,562$1,207$923$701$432
24 years$1,897$1,464$1,116$842$630$379
25 years$1,802$1,374$1,034$769$567$332
26 years$1,714$1,291$959$703$511$291
27 years$1,633$1,215$890$644$460$255
28 years$1,558$1,145$827$590$415$224
29 years$1,488$1,080$770$541$375$197
30 years$1,423$1,020$717$496$339$173
31 years$1,362$964$669$456$306$152
32 years$1,305$912$624$419$277$134
33 years$1,252$864$583$385$251$118
34 years$1,202$819$544$354$227$104
35 years$1,155$777$509$326$206$91
36 years$1,110$737$476$300$186$80
37 years$1,068$700$446$277$169$71
38 years$1,029$665$417$255$153$62
39 years$991$633$391$235$139$55
40 years$956$602$366$217$126$48
41 years$922$573$344$200$114$43
42 years$890$546$322$185$104$38
43 years$859$520$302$171$94$33
44 years$831$496$284$157$85$29
45 years$803$473$267$145$78$26
46 years$777$451$250$134$70$23
47 years$751$430$235$124$64$20
48 years$727$411$221$115$58$18
49 years$704$392$208$106$53$16
50 years$682$375$195$98$48$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $699,000, adding $2,776 every year, while hoping to spend $39,313 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: 67/14/19 Blend
57$699,000$699,000$699,000$699,000
58$773,161$736,114$725,280$821,148
59$810,195$730,355$707,748$847,848
60$849,689$722,996$688,311$872,218
61$891,852$713,918$666,864$897,915
62$936,913$702,992$643,297$925,067
63$985,125$690,086$617,494$953,820
64$1,036,762$675,055$589,335$984,330
65$1,092,128$657,749$558,694$1,016,777
66$1,151,555$638,008$525,439$1,051,354
67$1,215,406$615,662$489,434$1,088,279
68$1,284,080$590,533$450,533$1,127,793
69$1,358,018$562,431$408,588$1,170,162
70$1,437,701$531,155$363,440$1,215,683
71$1,523,658$496,493$314,927$1,264,683
72$1,616,471$458,221$262,877$1,317,526
73$1,716,779$416,102$207,112$1,374,612
74$1,825,285$369,885$147,444$1,436,388
75$1,942,760$319,305$83,679$1,503,346
76$2,070,053$264,083$15,614$1,576,033
77$2,208,098$203,923$0$1,655,052
78$2,357,921$138,512$0$1,752,633
79$2,520,650$67,520$0$1,862,084
80$2,697,528$0$0$1,981,102
81$2,889,920$0$0$2,112,090
82$3,099,330$0$0$2,266,023
83$3,327,410$0$0$2,433,720
84$3,575,981$0$0$2,616,524
85$3,847,045$0$0$2,815,913
86$4,142,806$0$0$3,033,513
87$4,465,691$0$0$3,271,116
88$4,818,371$0$0$3,530,692
89$5,203,784$0$0$3,814,410
90$5,625,169$0$0$4,124,662
91$6,086,090$0$0$4,464,076
92$6,590,469$0$0$4,835,549
93$7,142,629$0$0$5,242,271
94$7,747,326$0$0$5,687,754
95$8,409,802$0$0$6,175,865
96$9,135,826$0$0$6,710,865
97$9,931,753$0$0$7,297,444
98$10,804,583$0$0$7,940,769
99$11,762,025$0$0$8,646,531
100$12,812,571$0$0$9,420,999