Can I retire at age 58 with 710,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$58,631$58,109$57,599$57,102$56,616$55,633
2 years$29,025$28,485$27,961$27,453$26,960$25,972
3 years$19,158$18,615$18,093$17,589$17,105$16,143
4 years$14,225$13,684$13,167$12,672$12,199$11,272
5 years$11,266$10,728$10,218$9,733$9,274$8,383
6 years$9,295$8,761$8,258$7,784$7,338$6,485
7 years$7,887$7,357$6,862$6,400$5,968$5,153
8 years$6,831$6,306$5,820$5,368$4,951$4,173
9 years$6,011$5,491$5,012$4,573$4,169$3,429
10 years$5,355$4,840$4,370$3,942$3,552$2,849
11 years$4,818$4,309$3,847$3,430$3,055$2,388
12 years$4,372$3,867$3,414$3,009$2,648$2,015
13 years$3,994$3,495$3,050$2,656$2,309$1,710
14 years$3,670$3,177$2,741$2,358$2,024$1,458
15 years$3,390$2,902$2,475$2,103$1,782$1,248
16 years$3,146$2,663$2,244$1,883$1,575$1,072
17 years$2,930$2,452$2,042$1,692$1,396$923
18 years$2,738$2,266$1,864$1,525$1,242$797
19 years$2,567$2,100$1,706$1,378$1,107$689
20 years$2,413$1,951$1,566$1,248$989$597
21 years$2,274$1,818$1,440$1,132$885$518
22 years$2,148$1,697$1,327$1,030$793$450
23 years$2,033$1,587$1,226$938$712$391
24 years$1,927$1,487$1,133$855$640$340
25 years$1,830$1,395$1,050$781$576$296
26 years$1,741$1,311$974$714$519$258
27 years$1,659$1,234$904$654$468$225
28 years$1,582$1,163$841$599$422$197
29 years$1,511$1,097$782$549$381$172
30 years$1,445$1,036$729$504$344$150
31 years$1,383$979$679$463$311$131
32 years$1,326$927$634$425$281$114
33 years$1,272$878$592$391$255$100
34 years$1,221$832$553$360$231$87
35 years$1,173$789$517$331$209$76
36 years$1,128$749$484$305$189$67
37 years$1,085$711$453$281$172$59
38 years$1,045$676$424$259$156$51
39 years$1,007$643$397$239$141$45
40 years$971$612$372$220$128$39
41 years$936$582$349$203$116$34
42 years$904$554$327$188$105$30
43 years$873$528$307$173$96$26
44 years$844$503$288$160$87$23
45 years$816$480$271$148$79$20
46 years$789$458$254$136$72$18
47 years$763$437$239$126$65$15
48 years$739$417$225$117$59$14
49 years$716$398$211$108$54$12
50 years$693$381$198$100$49$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $710,000, adding $3,321 every year, while hoping to spend $51,465 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: 54/19/27 Blend
57$710,000$710,000$710,000$710,000
58$785,846$748,216$737,211$822,231
59$811,244$730,120$707,149$829,622
60$837,507$709,412$674,355$832,100
61$864,670$685,911$638,683$833,757
62$892,769$659,423$599,982$834,534
63$921,841$629,744$558,090$834,368
64$951,925$596,658$512,843$833,193
65$983,063$559,936$464,065$830,941
66$1,015,300$519,338$411,576$827,539
67$1,048,683$474,607$355,185$822,910
68$1,083,259$425,473$294,695$816,976
69$1,119,082$371,652$229,898$809,652
70$1,156,207$312,842$160,578$800,853
71$1,194,692$248,723$86,509$790,485
72$1,234,601$178,960$7,457$778,454
73$1,275,998$103,198$0$764,659
74$1,318,955$21,060$0$771,153
75$1,363,548$0$0$779,404
76$1,409,856$0$0$801,411
77$1,457,964$0$0$828,856
78$1,507,965$0$0$857,390
79$1,559,957$0$0$887,070
80$1,614,045$0$0$917,958
81$1,670,342$0$0$950,119
82$1,728,968$0$0$983,625
83$1,790,054$0$0$1,018,550
84$1,853,739$0$0$1,054,978
85$1,920,175$0$0$1,092,997
86$1,989,525$0$0$1,132,701
87$2,061,963$0$0$1,174,193
88$2,137,679$0$0$1,217,586
89$2,216,878$0$0$1,262,999
90$2,299,782$0$0$1,310,563
91$2,386,631$0$0$1,360,418
92$2,477,685$0$0$1,412,718
93$2,573,226$0$0$1,467,629
94$2,673,561$0$0$1,525,332
95$2,779,023$0$0$1,586,022
96$2,889,975$0$0$1,649,914
97$3,006,809$0$0$1,717,239
98$3,129,955$0$0$1,788,251
99$3,259,880$0$0$1,863,226
100$3,397,094$0$0$1,942,464