Can I retire at age 58 with 713,000?

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 $713,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$58,879$58,354$57,843$57,343$56,856$55,279
2 years$29,148$28,605$28,079$27,569$27,074$25,498
3 years$19,239$18,694$18,169$17,664$17,177$15,650
4 years$14,285$13,742$13,222$12,726$12,251$10,785
5 years$11,314$10,774$10,261$9,775$9,313$7,912
6 years$9,334$8,798$8,292$7,817$7,369$6,035
7 years$7,920$7,388$6,891$6,427$5,993$4,725
8 years$6,860$6,333$5,844$5,391$4,972$3,769
9 years$6,036$5,514$5,034$4,592$4,187$3,049
10 years$5,377$4,860$4,388$3,958$3,567$2,493
11 years$4,839$4,327$3,863$3,445$3,068$2,055
12 years$4,390$3,884$3,429$3,022$2,659$1,705
13 years$4,011$3,510$3,063$2,668$2,318$1,422
14 years$3,686$3,190$2,752$2,368$2,032$1,192
15 years$3,405$2,914$2,485$2,112$1,789$1,002
16 years$3,159$2,674$2,253$1,891$1,582$844
17 years$2,942$2,462$2,050$1,699$1,402$714
18 years$2,750$2,275$1,872$1,531$1,247$604
19 years$2,578$2,109$1,713$1,384$1,111$513
20 years$2,423$1,960$1,572$1,253$993$435
21 years$2,284$1,825$1,446$1,137$888$370
22 years$2,157$1,704$1,333$1,034$796$315
23 years$2,041$1,594$1,231$942$715$269
24 years$1,935$1,493$1,138$859$642$229
25 years$1,838$1,401$1,054$784$578$195
26 years$1,749$1,317$978$717$521$167
27 years$1,666$1,239$908$656$469$142
28 years$1,589$1,168$844$601$424$122
29 years$1,518$1,102$785$552$383$104
30 years$1,451$1,040$732$506$346$89
31 years$1,389$984$682$465$312$76
32 years$1,331$931$636$427$283$65
33 years$1,277$881$594$393$256$56
34 years$1,226$835$555$361$232$48
35 years$1,178$792$519$333$210$41
36 years$1,132$752$486$306$190$35
37 years$1,090$714$454$282$172$30
38 years$1,049$679$426$260$156$25
39 years$1,011$645$399$240$142$22
40 years$975$614$374$221$128$19
41 years$940$585$350$204$117$16
42 years$908$557$329$188$106$14
43 years$877$530$308$174$96$12
44 years$847$506$290$161$87$10
45 years$819$482$272$148$79$9
46 years$792$460$255$137$72$7
47 years$766$439$240$127$65$6
48 years$742$419$225$117$59$5
49 years$719$400$212$108$54$5
50 years$696$382$199$100$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $713,000, adding $6,217 every year, while hoping to spend $54,913 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: 75/20/5 Blend
57$713,000$713,000$713,000$713,000
58$792,139$754,350$743,298$850,811
59$814,510$732,886$709,772$868,770
60$837,323$708,530$673,282$880,791
61$860,564$681,082$633,671$892,361
62$884,217$650,331$590,775$903,414
63$908,263$616,053$544,422$913,879
64$932,678$578,012$494,432$923,678
65$957,435$535,958$440,619$932,724
66$982,500$489,626$382,786$940,926
67$1,007,834$438,738$320,729$948,183
68$1,033,394$382,997$254,235$954,386
69$1,059,128$322,092$183,079$959,414
70$1,084,978$255,693$107,031$963,139
71$1,110,875$183,451$25,846$965,420
72$1,136,744$104,999$0$966,102
73$1,162,497$19,949$0$968,263
74$1,188,035$0$0$970,160
75$1,213,248$0$0$986,099
76$1,238,009$0$0$1,006,040
77$1,262,178$0$0$1,025,474
78$1,285,596$0$0$1,044,271
79$1,308,084$0$0$1,062,282
80$1,329,445$0$0$1,079,343
81$1,349,454$0$0$1,095,268
82$1,367,862$0$0$1,109,851
83$1,384,393$0$0$1,122,861
84$1,398,735$0$0$1,134,043
85$1,410,544$0$0$1,143,110
86$1,419,435$0$0$1,149,743
87$1,424,981$0$0$1,153,590
88$1,426,707$0$0$1,154,255
89$1,424,085$0$0$1,151,303
90$1,416,529$0$0$1,144,248
91$1,403,389$0$0$1,132,552
92$1,383,942$0$0$1,115,619
93$1,357,391$0$0$1,092,786
94$1,322,849$0$0$1,063,320
95$1,279,334$0$0$1,026,409
96$1,225,759$0$0$981,154
97$1,160,922$0$0$926,560
98$1,083,490$0$0$861,526
99$991,992$0$0$784,832
100$884,797$0$0$695,131