Can I retire at age 58 with 703,000?

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 $703,000?

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$58,053$57,536$57,031$56,539$56,058$55,822
2 years$28,739$28,204$27,685$27,182$26,694$26,456
3 years$18,969$18,432$17,914$17,416$16,936$16,703
4 years$14,085$13,549$13,037$12,547$12,079$11,852
5 years$11,155$10,623$10,117$9,637$9,182$8,963
6 years$9,203$8,674$8,176$7,707$7,266$7,055
7 years$7,809$7,285$6,794$6,336$5,909$5,706
8 years$6,764$6,244$5,762$5,316$4,902$4,707
9 years$5,951$5,437$4,963$4,528$4,128$3,941
10 years$5,302$4,792$4,327$3,903$3,517$3,338
11 years$4,771$4,266$3,809$3,397$3,025$2,854
12 years$4,328$3,829$3,381$2,979$2,621$2,458
13 years$3,954$3,460$3,020$2,630$2,286$2,130
14 years$3,634$3,145$2,714$2,335$2,004$1,855
15 years$3,357$2,873$2,450$2,082$1,764$1,622
16 years$3,115$2,636$2,221$1,864$1,559$1,424
17 years$2,901$2,428$2,021$1,675$1,383$1,254
18 years$2,711$2,244$1,845$1,510$1,229$1,108
19 years$2,542$2,079$1,689$1,364$1,096$980
20 years$2,389$1,932$1,550$1,236$979$869
21 years$2,252$1,800$1,426$1,121$876$772
22 years$2,127$1,680$1,314$1,020$785$687
23 years$2,013$1,571$1,214$928$705$612
24 years$1,908$1,472$1,122$847$633$546
25 years$1,812$1,382$1,039$773$570$488
26 years$1,724$1,298$964$707$513$436
27 years$1,643$1,222$895$647$463$390
28 years$1,567$1,151$832$593$418$349
29 years$1,497$1,086$774$544$377$313
30 years$1,431$1,026$721$499$341$280
31 years$1,370$970$673$458$308$252
32 years$1,313$918$627$421$279$226
33 years$1,259$869$586$387$252$203
34 years$1,209$824$547$356$228$182
35 years$1,161$781$512$328$207$163
36 years$1,117$741$479$302$187$147
37 years$1,074$704$448$278$170$132
38 years$1,035$669$420$257$154$119
39 years$997$636$393$237$140$107
40 years$961$605$369$218$127$96
41 years$927$576$346$201$115$86
42 years$895$549$324$186$104$78
43 years$864$523$304$172$95$70
44 years$835$499$286$158$86$63
45 years$807$475$268$146$78$57
46 years$781$454$252$135$71$51
47 years$756$433$237$125$64$46
48 years$732$413$222$115$58$41
49 years$708$395$209$107$53$37
50 years$686$377$196$99$48$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $703,000, adding $6,129 every year, while hoping to spend $24,427 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: 64/28/8 Blend
57$703,000$703,000$703,000$703,000
58$781,028$743,769$732,873$829,381
59$834,703$754,224$731,434$872,828
60$893,034$764,372$729,128$916,824
61$956,470$774,173$725,900$964,245
62$1,025,505$783,583$721,694$1,015,422
63$1,100,684$792,555$716,447$1,070,719
64$1,182,604$801,041$710,099$1,130,539
65$1,271,924$808,986$702,581$1,195,324
66$1,369,368$816,335$693,826$1,265,565
67$1,475,735$823,026$683,760$1,341,799
68$1,591,901$828,996$672,308$1,424,622
69$1,718,835$834,176$659,389$1,514,687
70$1,857,599$838,494$644,922$1,612,718
71$2,009,365$841,871$628,818$1,719,510
72$2,175,424$844,227$610,987$1,835,943
73$2,357,196$845,472$591,334$1,962,984
74$2,556,245$845,515$569,758$2,101,701
75$2,774,293$844,256$546,156$2,253,271
76$3,013,237$841,591$520,419$2,418,993
77$3,275,166$837,408$492,432$2,600,297
78$3,562,381$831,590$462,077$2,798,762
79$3,877,417$824,010$429,229$3,016,129
80$4,223,064$814,537$393,758$3,254,316
81$4,602,396$803,029$355,529$3,515,439
82$5,018,801$789,338$314,400$3,801,831
83$5,476,008$773,305$270,222$4,116,065
84$5,978,127$754,763$222,840$4,460,977
85$6,529,685$733,535$172,094$4,839,694
86$7,135,668$709,433$117,814$5,255,664
87$7,801,569$682,259$59,824$5,712,689
88$8,533,442$651,802$0$6,214,961
89$9,337,953$617,841$0$6,767,278
90$10,222,448$580,139$0$7,380,019
91$11,195,021$538,449$0$8,053,707
92$12,264,587$492,507$0$8,794,555
93$13,440,971$442,036$0$9,609,408
94$14,734,996$386,741$0$10,505,814
95$16,158,587$326,313$0$11,492,094
96$17,724,884$260,424$0$12,577,416
97$19,448,365$188,727$0$13,771,891
98$21,344,980$110,857$0$15,086,661
99$23,432,305$26,426$0$16,534,008
100$25,729,708$0$0$18,127,472