Can I retire at age 58 with 707,000?

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 $707,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$58,383$57,863$57,356$56,861$56,377$54,291
2 years$28,903$28,364$27,843$27,337$26,846$24,768
3 years$19,077$18,536$18,016$17,515$17,032$15,027
4 years$14,165$13,626$13,111$12,619$12,148$10,231
5 years$11,219$10,683$10,175$9,692$9,234$7,411
6 years$9,255$8,724$8,223$7,751$7,307$5,579
7 years$7,853$7,326$6,833$6,373$5,942$4,309
8 years$6,802$6,280$5,795$5,346$4,930$3,389
9 years$5,985$5,468$4,991$4,553$4,152$2,702
10 years$5,332$4,819$4,351$3,925$3,537$2,176
11 years$4,798$4,291$3,831$3,416$3,042$1,766
12 years$4,353$3,851$3,400$2,996$2,636$1,442
13 years$3,977$3,480$3,038$2,645$2,299$1,183
14 years$3,655$3,163$2,729$2,348$2,015$975
15 years$3,376$2,890$2,464$2,094$1,774$806
16 years$3,132$2,651$2,234$1,875$1,568$668
17 years$2,917$2,442$2,033$1,685$1,390$554
18 years$2,727$2,256$1,856$1,518$1,236$461
19 years$2,556$2,091$1,699$1,372$1,102$384
20 years$2,403$1,943$1,559$1,243$984$320
21 years$2,264$1,810$1,434$1,128$881$267
22 years$2,139$1,690$1,322$1,025$790$223
23 years$2,024$1,580$1,220$934$709$187
24 years$1,919$1,481$1,129$852$637$156
25 years$1,823$1,389$1,045$778$573$131
26 years$1,734$1,306$970$711$516$109
27 years$1,652$1,229$900$651$466$92
28 years$1,576$1,158$837$596$420$77
29 years$1,505$1,092$779$547$379$64
30 years$1,439$1,032$725$502$343$54
31 years$1,378$975$676$461$310$45
32 years$1,320$923$631$424$280$38
33 years$1,266$874$589$390$254$32
34 years$1,215$828$551$358$230$27
35 years$1,168$786$515$330$208$22
36 years$1,123$746$481$304$188$19
37 years$1,080$708$451$280$171$16
38 years$1,040$673$422$258$155$13
39 years$1,003$640$395$238$140$11
40 years$967$609$371$219$127$9
41 years$932$580$348$203$116$8
42 years$900$552$326$187$105$7
43 years$869$526$306$173$95$5
44 years$840$501$287$159$86$5
45 years$812$478$270$147$78$4
46 years$785$456$253$136$71$3
47 years$760$435$238$126$65$3
48 years$736$415$224$116$59$2
49 years$713$397$210$107$53$2
50 years$690$379$198$99$48$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $707,000, adding $5,924 every year, while hoping to spend $31,065 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: 31/48/21 Blend
57$707,000$707,000$707,000$707,000
58$785,225$747,754$736,795$804,288
59$832,265$751,341$728,425$822,782
60$883,061$754,062$718,733$839,467
61$937,966$755,843$707,642$856,780
62$997,362$756,604$695,073$874,795
63$1,061,675$756,259$680,939$893,595
64$1,131,368$754,718$665,153$913,275
65$1,206,955$751,886$647,623$933,942
66$1,288,997$747,662$628,251$955,716
67$1,378,114$741,936$606,937$978,731
68$1,474,987$734,596$583,574$1,003,142
69$1,580,364$725,520$558,052$1,029,117
70$1,695,070$714,579$530,256$1,056,849
71$1,820,011$701,638$500,064$1,086,554
72$1,956,186$686,552$467,349$1,118,471
73$2,104,692$669,168$431,981$1,152,872
74$2,266,739$649,325$393,821$1,190,057
75$2,443,657$626,853$352,724$1,230,364
76$2,636,910$601,569$308,540$1,274,169
77$2,848,111$573,282$261,113$1,321,892
78$3,079,035$541,789$210,276$1,374,003
79$3,331,636$506,876$155,860$1,431,024
80$3,608,067$468,317$97,685$1,493,538
81$3,910,696$425,871$35,565$1,562,191
82$4,242,134$379,286$0$1,637,707
83$4,605,254$328,293$0$1,727,774
84$5,003,220$272,610$0$1,835,350
85$5,439,518$211,937$0$1,953,499
86$5,917,987$145,960$0$2,083,371
87$6,442,854$74,344$0$2,226,244
88$7,018,776$0$0$2,383,530
89$7,650,883$0$0$2,558,517
90$8,344,825$0$0$2,793,843
91$9,106,826$0$0$3,052,365
92$9,943,742$0$0$3,336,423
93$10,863,126$0$0$3,648,595
94$11,873,298$0$0$3,991,723
95$12,983,425$0$0$4,368,935
96$14,203,606$0$0$4,783,679
97$15,544,965$0$0$5,239,755
98$17,019,759$0$0$5,741,347
99$18,641,492$0$0$6,293,065
100$20,425,042$0$0$6,899,991