Can I retire at age 58 with 709,000?

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 $709,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$58,549$58,027$57,518$57,022$56,537$55,900
2 years$28,984$28,445$27,921$27,414$26,922$26,281
3 years$19,131$18,589$18,067$17,565$17,081$16,455
4 years$14,205$13,665$13,148$12,654$12,182$11,577
5 years$11,251$10,713$10,204$9,720$9,261$8,678
6 years$9,281$8,748$8,246$7,773$7,328$6,768
7 years$7,875$7,347$6,852$6,391$5,959$5,422
8 years$6,821$6,298$5,811$5,361$4,944$4,430
9 years$6,002$5,483$5,005$4,566$4,163$3,673
10 years$5,347$4,833$4,364$3,936$3,547$3,079
11 years$4,811$4,303$3,842$3,426$3,051$2,605
12 years$4,365$3,862$3,410$3,005$2,644$2,220
13 years$3,988$3,490$3,046$2,653$2,305$1,902
14 years$3,665$3,172$2,737$2,355$2,021$1,639
15 years$3,386$2,898$2,471$2,100$1,779$1,417
16 years$3,141$2,659$2,240$1,880$1,573$1,230
17 years$2,926$2,449$2,039$1,690$1,394$1,070
18 years$2,734$2,263$1,861$1,523$1,240$934
19 years$2,563$2,097$1,704$1,376$1,105$816
20 years$2,410$1,949$1,564$1,246$987$715
21 years$2,271$1,815$1,438$1,131$883$627
22 years$2,145$1,694$1,326$1,028$792$551
23 years$2,030$1,585$1,224$936$711$485
24 years$1,925$1,485$1,132$854$639$427
25 years$1,828$1,393$1,048$780$575$376
26 years$1,739$1,310$972$713$518$332
27 years$1,657$1,232$903$653$467$293
28 years$1,580$1,161$839$598$421$259
29 years$1,509$1,096$781$548$380$229
30 years$1,443$1,035$728$503$344$202
31 years$1,382$978$678$462$311$179
32 years$1,324$925$633$425$281$158
33 years$1,270$876$591$391$254$140
34 years$1,219$831$552$359$230$124
35 years$1,171$788$516$331$209$110
36 years$1,126$748$483$305$189$97
37 years$1,084$710$452$281$171$86
38 years$1,043$675$423$259$155$76
39 years$1,005$642$397$239$141$68
40 years$969$611$372$220$128$60
41 years$935$581$348$203$116$53
42 years$903$554$327$187$105$47
43 years$872$527$307$173$95$42
44 years$842$503$288$160$87$37
45 years$814$479$270$148$79$33
46 years$788$457$254$136$71$29
47 years$762$436$239$126$65$26
48 years$738$417$224$116$59$23
49 years$715$398$211$108$53$20
50 years$692$380$198$99$49$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $709,000, adding $2,709 every year, while hoping to spend $40,977 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: 27/49/24 Blend
57$709,000$709,000$709,000$709,000
58$784,112$746,535$735,546$799,310
59$820,493$739,516$716,587$804,589
60$859,210$730,780$695,621$806,499
61$900,460$720,199$672,535$807,692
62$944,457$707,638$647,214$808,133
63$991,434$692,955$619,538$807,788
64$1,041,647$675,997$589,380$806,625
65$1,095,379$656,605$556,608$804,611
66$1,152,937$634,608$521,084$801,717
67$1,214,660$609,827$482,663$797,916
68$1,280,918$582,071$441,195$793,183
69$1,352,119$551,140$396,523$787,497
70$1,428,710$516,820$348,481$780,841
71$1,511,182$478,887$296,898$773,202
72$1,600,072$437,103$241,594$764,574
73$1,695,975$391,216$182,382$754,958
74$1,799,539$340,961$119,067$744,362
75$1,911,480$286,056$51,444$732,805
76$2,032,583$226,204$0$720,313
77$2,163,712$161,094$0$712,236
78$2,305,815$90,393$0$717,724
79$2,459,938$13,751$0$723,720
80$2,627,227$0$0$730,377
81$2,808,946$0$0$775,181
82$3,006,483$0$0$832,047
83$3,221,366$0$0$894,015
84$3,455,276$0$0$961,581
85$3,710,062$0$0$1,035,296
86$3,987,761$0$0$1,115,761
87$4,290,612$0$0$1,203,643
88$4,621,082$0$0$1,299,672
89$4,981,883$0$0$1,404,653
90$5,376,003$0$0$1,519,473
91$5,806,732$0$0$1,645,109
92$6,277,690$0$0$1,782,635
93$6,792,864$0$0$1,933,236
94$7,356,643$0$0$2,098,213
95$7,973,862$0$0$2,279,004
96$8,649,842$0$0$2,477,189
97$9,390,446$0$0$2,694,509
98$10,202,128$0$0$2,932,881
99$11,091,998$0$0$3,194,420
100$12,067,887$0$0$3,481,450