Can I retire at age 58 with 712,000?

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 $712,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$58,796$58,273$57,762$57,263$56,776$56,020
2 years$29,107$28,565$28,040$27,530$27,036$26,276
3 years$19,212$18,668$18,143$17,639$17,153$16,412
4 years$14,265$13,723$13,204$12,708$12,234$11,517
5 years$11,298$10,759$10,247$9,761$9,300$8,610
6 years$9,321$8,785$8,281$7,806$7,359$6,697
7 years$7,909$7,378$6,881$6,418$5,984$5,351
8 years$6,850$6,324$5,836$5,384$4,965$4,359
9 years$6,028$5,506$5,027$4,586$4,181$3,603
10 years$5,370$4,854$4,382$3,953$3,562$3,012
11 years$4,832$4,321$3,858$3,440$3,064$2,540
12 years$4,384$3,878$3,424$3,017$2,655$2,157
13 years$4,005$3,505$3,059$2,664$2,315$1,843
14 years$3,681$3,186$2,749$2,365$2,030$1,582
15 years$3,400$2,910$2,482$2,109$1,787$1,364
16 years$3,154$2,670$2,250$1,888$1,579$1,179
17 years$2,938$2,459$2,047$1,697$1,400$1,023
18 years$2,746$2,272$1,869$1,529$1,245$889
19 years$2,574$2,106$1,711$1,382$1,110$775
20 years$2,420$1,957$1,570$1,251$991$676
21 years$2,280$1,823$1,444$1,136$887$591
22 years$2,154$1,701$1,331$1,033$795$517
23 years$2,038$1,591$1,229$940$714$453
24 years$1,933$1,491$1,137$858$642$398
25 years$1,836$1,399$1,053$783$577$349
26 years$1,746$1,315$976$716$520$307
27 years$1,664$1,238$907$656$469$270
28 years$1,587$1,166$843$601$423$237
29 years$1,516$1,100$784$551$382$209
30 years$1,449$1,039$731$505$345$184
31 years$1,387$982$681$464$312$162
32 years$1,329$929$636$427$282$143
33 years$1,275$880$593$392$255$126
34 years$1,224$834$554$361$231$111
35 years$1,176$791$518$332$209$98
36 years$1,131$751$485$306$190$86
37 years$1,088$713$454$282$172$76
38 years$1,048$678$425$260$156$67
39 years$1,010$645$398$240$141$59
40 years$973$613$373$221$128$52
41 years$939$584$350$204$116$46
42 years$906$556$328$188$106$41
43 years$875$530$308$174$96$36
44 years$846$505$289$160$87$32
45 years$818$481$272$148$79$28
46 years$791$459$255$137$72$25
47 years$765$438$240$126$65$22
48 years$741$418$225$117$59$19
49 years$718$400$212$108$54$17
50 years$695$382$199$100$49$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $712,000, adding $2,664 every year, while hoping to spend $46,966 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: 28/50/22 Blend
57$712,000$712,000$712,000$712,000
58$787,372$749,636$738,600$803,905
59$817,712$736,397$713,372$803,772
60$849,573$720,934$685,724$799,302
61$883,061$703,091$655,526$793,509
62$918,289$682,698$622,643$786,307
63$955,383$659,579$586,929$777,611
64$994,478$633,545$548,238$767,329
65$1,035,723$604,397$506,412$755,369
66$1,079,279$571,924$461,289$741,632
67$1,125,322$535,905$412,698$726,017
68$1,174,043$496,103$360,463$708,419
69$1,225,654$452,270$304,396$688,732
70$1,280,382$404,143$244,305$666,843
71$1,338,479$351,444$179,987$642,638
72$1,400,217$293,878$111,230$616,000
73$1,465,897$231,136$37,815$586,808
74$1,535,847$162,890$0$554,939
75$1,610,425$88,793$0$529,782
76$1,690,024$8,479$0$511,788
77$1,775,076$0$0$491,999
78$1,866,051$0$0$513,503
79$1,963,469$0$0$541,600
80$2,067,897$0$0$571,798
81$2,179,957$0$0$604,288
82$2,300,332$0$0$639,278
83$2,429,774$0$0$676,997
84$2,569,105$0$0$717,698
85$2,719,230$0$0$761,657
86$2,881,142$0$0$809,179
87$3,055,933$0$0$860,598
88$3,244,801$0$0$916,281
89$3,449,064$0$0$976,633
90$3,670,171$0$0$1,042,098
91$3,909,713$0$0$1,113,165
92$4,169,443$0$0$1,190,371
93$4,451,284$0$0$1,274,307
94$4,757,355$0$0$1,365,624
95$5,089,984$0$0$1,465,037
96$5,451,733$0$0$1,573,334
97$5,845,423$0$0$1,691,382
98$6,274,153$0$0$1,820,134
99$6,741,337$0$0$1,960,641
100$7,250,732$0$0$2,114,056