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%17.4%
1 years$58,466$57,945$57,437$56,941$56,457$54,759
2 years$28,944$28,405$27,882$27,376$26,884$25,188
3 years$19,104$18,563$18,042$17,540$17,056$15,415
4 years$14,185$13,646$13,130$12,636$12,165$10,591
5 years$11,235$10,698$10,189$9,706$9,248$7,745
6 years$9,268$8,736$8,234$7,762$7,317$5,888
7 years$7,864$7,336$6,843$6,382$5,951$4,595
8 years$6,812$6,289$5,803$5,353$4,937$3,653
9 years$5,994$5,475$4,998$4,560$4,158$2,944
10 years$5,339$4,826$4,358$3,931$3,542$2,398
11 years$4,805$4,297$3,836$3,421$3,047$1,969
12 years$4,359$3,856$3,405$3,001$2,640$1,627
13 years$3,983$3,485$3,042$2,649$2,302$1,352
14 years$3,660$3,168$2,733$2,351$2,018$1,128
15 years$3,381$2,894$2,468$2,097$1,777$944
16 years$3,137$2,655$2,237$1,878$1,570$793
17 years$2,922$2,445$2,036$1,687$1,392$667
18 years$2,730$2,259$1,858$1,520$1,238$562
19 years$2,560$2,094$1,701$1,374$1,104$475
20 years$2,406$1,946$1,561$1,244$986$401
21 years$2,268$1,813$1,436$1,129$882$340
22 years$2,142$1,692$1,324$1,027$791$288
23 years$2,027$1,582$1,222$935$710$244
24 years$1,922$1,483$1,130$853$638$207
25 years$1,825$1,391$1,047$779$574$176
26 years$1,736$1,308$971$712$517$149
27 years$1,654$1,231$902$652$466$127
28 years$1,578$1,160$838$597$421$108
29 years$1,507$1,094$780$548$380$92
30 years$1,441$1,033$727$503$343$78
31 years$1,380$977$677$462$310$66
32 years$1,322$924$632$424$281$57
33 years$1,268$875$590$390$254$48
34 years$1,217$829$551$359$230$41
35 years$1,169$787$515$330$208$35
36 years$1,124$747$482$304$189$30
37 years$1,082$709$451$280$171$25
38 years$1,042$674$423$258$155$22
39 years$1,004$641$396$238$141$18
40 years$968$610$371$220$128$16
41 years$934$580$348$203$116$13
42 years$901$553$326$187$105$11
43 years$871$527$306$173$95$10
44 years$841$502$288$160$87$8
45 years$813$479$270$147$79$7
46 years$787$457$254$136$71$6
47 years$761$436$238$126$65$5
48 years$737$416$224$116$59$4
49 years$714$397$210$107$53$4
50 years$691$380$198$99$49$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $708,000, adding $6,588 every year, while hoping to spend $39,609 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: 50/36/14 Blend
57$708,000$708,000$708,000$708,000
58$787,012$749,488$738,514$823,037
59$825,143$744,069$721,110$843,072
60$865,836$737,057$701,796$860,149
61$909,311$728,332$680,466$877,823
62$955,808$717,767$657,008$896,162
63$1,005,590$705,228$631,308$915,245
64$1,058,948$690,571$603,244$935,160
65$1,116,197$673,646$572,690$956,005
66$1,177,687$654,293$539,513$977,895
67$1,243,800$632,342$503,575$1,000,954
68$1,314,955$607,614$464,732$1,025,327
69$1,391,612$579,919$422,832$1,051,173
70$1,474,279$549,057$377,719$1,078,672
71$1,563,510$514,815$329,228$1,108,029
72$1,659,916$476,970$277,185$1,139,468
73$1,764,170$435,283$221,413$1,173,245
74$1,877,008$389,505$161,723$1,209,644
75$1,999,241$339,369$97,919$1,248,985
76$2,131,762$284,596$29,798$1,291,623
77$2,275,551$224,891$0$1,337,956
78$2,431,686$159,939$0$1,394,837
79$2,601,354$89,412$0$1,461,519
80$2,785,859$12,961$0$1,534,135
81$2,986,638$0$0$1,613,335
82$3,205,270$0$0$1,727,487
83$3,443,493$0$0$1,857,532
84$3,703,221$0$0$1,999,387
85$3,986,558$0$0$2,154,212
86$4,295,822$0$0$2,323,281
87$4,633,564$0$0$2,508,000
88$5,002,592$0$0$2,709,914
89$5,405,998$0$0$2,930,725
90$5,847,185$0$0$3,172,308
91$6,329,901$0$0$3,436,726
92$6,858,273$0$0$3,726,251
93$7,436,845$0$0$4,043,385
94$8,070,620$0$0$4,390,884
95$8,765,109$0$0$4,771,783
96$9,526,382$0$0$5,189,424
97$10,361,123$0$0$5,647,488
98$11,276,693$0$0$6,150,030
99$12,281,202$0$0$6,701,517
100$13,383,580$0$0$7,306,866