Can I retire at age 58 with 708,000?

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 $708,000?

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$58,466$57,945$57,437$56,941$56,457$56,195
2 years$28,944$28,405$27,882$27,376$26,884$26,620
3 years$19,104$18,563$18,042$17,540$17,056$16,798
4 years$14,185$13,646$13,130$12,636$12,165$11,914
5 years$11,235$10,698$10,189$9,706$9,248$9,005
6 years$9,268$8,736$8,234$7,762$7,317$7,084
7 years$7,864$7,336$6,843$6,382$5,951$5,726
8 years$6,812$6,289$5,803$5,353$4,937$4,721
9 years$5,994$5,475$4,998$4,560$4,158$3,951
10 years$5,339$4,826$4,358$3,931$3,542$3,344
11 years$4,805$4,297$3,836$3,421$3,047$2,857
12 years$4,359$3,856$3,405$3,001$2,640$2,459
13 years$3,983$3,485$3,042$2,649$2,302$2,130
14 years$3,660$3,168$2,733$2,351$2,018$1,854
15 years$3,381$2,894$2,468$2,097$1,777$1,620
16 years$3,137$2,655$2,237$1,878$1,570$1,422
17 years$2,922$2,445$2,036$1,687$1,392$1,251
18 years$2,730$2,259$1,858$1,520$1,238$1,104
19 years$2,560$2,094$1,701$1,374$1,104$976
20 years$2,406$1,946$1,561$1,244$986$865
21 years$2,268$1,813$1,436$1,129$882$768
22 years$2,142$1,692$1,324$1,027$791$683
23 years$2,027$1,582$1,222$935$710$608
24 years$1,922$1,483$1,130$853$638$542
25 years$1,825$1,391$1,047$779$574$484
26 years$1,736$1,308$971$712$517$432
27 years$1,654$1,231$902$652$466$386
28 years$1,578$1,160$838$597$421$345
29 years$1,507$1,094$780$548$380$309
30 years$1,441$1,033$727$503$343$277
31 years$1,380$977$677$462$310$248
32 years$1,322$924$632$424$281$223
33 years$1,268$875$590$390$254$200
34 years$1,217$829$551$359$230$179
35 years$1,169$787$515$330$208$161
36 years$1,124$747$482$304$189$144
37 years$1,082$709$451$280$171$130
38 years$1,042$674$423$258$155$116
39 years$1,004$641$396$238$141$105
40 years$968$610$371$220$128$94
41 years$934$580$348$203$116$84
42 years$901$553$326$187$105$76
43 years$871$527$306$173$95$68
44 years$841$502$288$160$87$61
45 years$813$479$270$147$79$55
46 years$787$457$254$136$71$50
47 years$761$436$238$126$65$45
48 years$737$416$224$116$59$40
49 years$714$397$210$107$53$36
50 years$691$380$198$99$49$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $708,000, adding $4,482 every year, while hoping to spend $45,969 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: 29/49/22 Blend
57$708,000$708,000$708,000$708,000
58$784,839$747,315$736,341$802,086
59$815,982$735,023$712,098$803,472
60$848,761$720,588$685,502$800,574
61$883,294$703,856$656,426$796,496
62$919,710$684,665$624,736$791,164
63$958,150$662,843$590,294$784,504
64$998,766$638,207$552,954$776,437
65$1,041,726$610,565$512,564$766,885
66$1,087,213$579,713$468,965$755,763
67$1,135,424$545,435$421,991$742,987
68$1,186,579$507,503$371,469$728,471
69$1,240,914$465,675$317,218$712,125
70$1,298,691$419,697$259,048$693,858
71$1,360,194$369,299$196,763$673,578
72$1,425,736$314,195$130,156$651,192
73$1,495,656$254,087$59,012$626,605
74$1,570,330$188,654$0$599,723
75$1,650,168$117,562$0$574,420
76$1,735,618$40,455$0$561,673
77$1,827,174$0$0$547,581
78$1,925,376$0$0$555,319
79$2,030,817$0$0$587,126
80$2,144,149$0$0$621,396
81$2,266,085$0$0$658,353
82$2,397,411$0$0$698,248
83$2,538,988$0$0$741,354
84$2,691,762$0$0$787,971
85$2,856,774$0$0$838,429
86$3,035,166$0$0$893,092
87$3,228,195$0$0$952,358
88$3,437,242$0$0$1,016,667
89$3,663,824$0$0$1,086,501
90$3,909,610$0$0$1,162,392
91$4,176,438$0$0$1,244,923
92$4,466,325$0$0$1,334,737
93$4,781,493$0$0$1,432,541
94$5,124,386$0$0$1,539,113
95$5,497,692$0$0$1,655,311
96$5,904,370$0$0$1,782,075
97$6,347,675$0$0$1,920,444
98$6,831,191$0$0$2,071,559
99$7,358,861$0$0$2,236,678
100$7,935,027$0$0$2,417,185