Can I retire at age 58 with 701,000?

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 $701,000?

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%
1 years$57,888$57,372$56,869$56,378$55,899$55,640
2 years$28,657$28,124$27,606$27,105$26,618$26,357
3 years$18,915$18,379$17,863$17,366$16,888$16,632
4 years$14,045$13,511$13,000$12,511$12,045$11,796
5 years$11,124$10,592$10,088$9,610$9,156$8,916
6 years$9,177$8,650$8,153$7,685$7,245$7,014
7 years$7,787$7,264$6,775$6,318$5,892$5,670
8 years$6,745$6,226$5,746$5,300$4,888$4,675
9 years$5,934$5,421$4,949$4,515$4,116$3,912
10 years$5,287$4,779$4,315$3,892$3,507$3,311
11 years$4,757$4,254$3,798$3,387$3,016$2,829
12 years$4,316$3,818$3,371$2,971$2,614$2,435
13 years$3,943$3,451$3,012$2,623$2,279$2,109
14 years$3,624$3,136$2,706$2,328$1,998$1,835
15 years$3,347$2,865$2,443$2,076$1,759$1,604
16 years$3,106$2,629$2,215$1,859$1,555$1,407
17 years$2,893$2,421$2,016$1,670$1,379$1,239
18 years$2,703$2,237$1,840$1,505$1,226$1,093
19 years$2,534$2,073$1,685$1,360$1,093$967
20 years$2,382$1,927$1,546$1,232$976$857
21 years$2,245$1,795$1,422$1,118$873$761
22 years$2,121$1,675$1,311$1,017$783$676
23 years$2,007$1,567$1,210$926$703$602
24 years$1,903$1,468$1,119$844$632$537
25 years$1,807$1,378$1,037$771$568$479
26 years$1,719$1,295$961$705$512$428
27 years$1,638$1,219$893$645$462$382
28 years$1,562$1,148$830$591$417$342
29 years$1,492$1,083$772$542$376$306
30 years$1,427$1,023$719$498$340$274
31 years$1,366$967$671$457$307$246
32 years$1,309$915$626$420$278$220
33 years$1,255$867$584$386$252$198
34 years$1,205$821$546$355$228$177
35 years$1,158$779$510$327$206$159
36 years$1,113$739$477$301$187$143
37 years$1,071$702$447$278$169$128
38 years$1,032$667$418$256$154$115
39 years$994$635$392$236$139$104
40 years$958$604$367$218$126$93
41 years$925$575$345$201$115$84
42 years$892$547$323$185$104$75
43 years$862$522$303$171$94$68
44 years$833$497$285$158$86$61
45 years$805$474$267$146$78$55
46 years$779$452$251$135$71$49
47 years$754$432$236$124$64$44
48 years$729$412$222$115$58$40
49 years$706$393$208$106$53$36
50 years$684$376$196$98$48$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $701,000, adding $4,517 every year, while hoping to spend $48,179 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: 60/14/26 Blend
57$701,000$701,000$701,000$701,000
58$777,161$740,008$729,143$818,107
59$805,170$725,007$702,307$831,505
60$834,420$707,655$672,957$840,535
61$864,989$687,788$640,959$849,358
62$896,957$665,229$606,171$857,967
63$930,414$639,792$568,445$866,351
64$965,455$611,281$527,627$874,506
65$1,002,185$579,488$483,556$882,425
66$1,040,717$544,191$436,064$890,106
67$1,081,172$505,159$384,974$897,548
68$1,123,684$462,144$330,103$904,755
69$1,168,398$414,888$271,260$911,732
70$1,215,471$363,113$208,243$918,489
71$1,265,074$306,531$140,845$925,040
72$1,317,394$244,833$68,845$931,406
73$1,372,634$177,696$0$937,612
74$1,431,015$104,775$0$945,907
75$1,492,780$25,711$0$974,641
76$1,558,193$0$0$1,004,813
77$1,627,542$0$0$1,045,779
78$1,701,143$0$0$1,093,488
79$1,779,341$0$0$1,144,206
80$1,862,511$0$0$1,198,181
81$1,951,069$0$0$1,255,686
82$2,045,464$0$0$1,317,018
83$2,146,192$0$0$1,382,503
84$2,253,796$0$0$1,452,498
85$2,368,868$0$0$1,527,397
86$2,492,062$0$0$1,607,627
87$2,624,091$0$0$1,693,660
88$2,765,738$0$0$1,786,014
89$2,917,864$0$0$1,885,255
90$3,081,413$0$0$1,992,006
91$3,257,421$0$0$2,106,952
92$3,447,025$0$0$2,230,842
93$3,651,475$0$0$2,364,502
94$3,872,143$0$0$2,508,838
95$4,110,539$0$0$2,664,845
96$4,368,320$0$0$2,833,619
97$4,647,307$0$0$3,016,361
98$4,949,503$0$0$3,214,396
99$5,277,111$0$0$3,429,176
100$5,632,551$0$0$3,662,302