Can I retire at age 58 with 713,000?

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 $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%14.6%
1 years$58,879$58,354$57,843$57,343$56,856$55,776
2 years$29,148$28,605$28,079$27,569$27,074$25,991
3 years$19,239$18,694$18,169$17,664$17,177$16,123
4 years$14,285$13,742$13,222$12,726$12,251$11,235
5 years$11,314$10,774$10,261$9,775$9,313$8,338
6 years$9,334$8,798$8,292$7,817$7,369$6,436
7 years$7,920$7,388$6,891$6,427$5,993$5,103
8 years$6,860$6,333$5,844$5,391$4,972$4,123
9 years$6,036$5,514$5,034$4,592$4,187$3,380
10 years$5,377$4,860$4,388$3,958$3,567$2,801
11 years$4,839$4,327$3,863$3,445$3,068$2,342
12 years$4,390$3,884$3,429$3,022$2,659$1,971
13 years$4,011$3,510$3,063$2,668$2,318$1,669
14 years$3,686$3,190$2,752$2,368$2,032$1,419
15 years$3,405$2,914$2,485$2,112$1,789$1,211
16 years$3,159$2,674$2,253$1,891$1,582$1,037
17 years$2,942$2,462$2,050$1,699$1,402$891
18 years$2,750$2,275$1,872$1,531$1,247$767
19 years$2,578$2,109$1,713$1,384$1,111$661
20 years$2,423$1,960$1,572$1,253$993$571
21 years$2,284$1,825$1,446$1,137$888$494
22 years$2,157$1,704$1,333$1,034$796$428
23 years$2,041$1,594$1,231$942$715$371
24 years$1,935$1,493$1,138$859$642$322
25 years$1,838$1,401$1,054$784$578$279
26 years$1,749$1,317$978$717$521$243
27 years$1,666$1,239$908$656$469$211
28 years$1,589$1,168$844$601$424$183
29 years$1,518$1,102$785$552$383$160
30 years$1,451$1,040$732$506$346$139
31 years$1,389$984$682$465$312$121
32 years$1,331$931$636$427$283$105
33 years$1,277$881$594$393$256$92
34 years$1,226$835$555$361$232$80
35 years$1,178$792$519$333$210$70
36 years$1,132$752$486$306$190$61
37 years$1,090$714$454$282$172$53
38 years$1,049$679$426$260$156$46
39 years$1,011$645$399$240$142$40
40 years$975$614$374$221$128$35
41 years$940$585$350$204$117$31
42 years$908$557$329$188$106$27
43 years$877$530$308$174$96$23
44 years$847$506$290$161$87$20
45 years$819$482$272$148$79$18
46 years$792$460$255$137$72$15
47 years$766$439$240$127$65$13
48 years$742$419$225$117$59$12
49 years$719$400$212$108$54$10
50 years$696$382$199$100$49$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $713,000, adding $2,119 every year, while hoping to spend $51,576 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: 50/26/24 Blend
57$713,000$713,000$713,000$713,000
58$787,912$750,123$739,071$821,890
59$813,402$732,002$708,954$827,619
60$839,764$711,265$676,099$828,463
61$867,032$687,729$640,360$828,332
62$895,242$661,201$601,584$827,154
63$924,432$631,475$559,613$824,856
64$954,643$598,336$514,279$821,360
65$985,916$561,554$465,407$816,582
66$1,018,298$520,888$412,816$810,438
67$1,051,834$476,082$356,315$802,836
68$1,086,576$426,864$295,707$793,681
69$1,122,576$372,950$230,782$782,873
70$1,159,891$314,037$161,326$770,306
71$1,198,581$249,806$87,111$755,872
72$1,238,709$179,920$7,902$739,455
73$1,280,344$104,022$0$720,934
74$1,323,556$21,736$0$719,806
75$1,368,424$0$0$719,750
76$1,415,029$0$0$737,935
77$1,463,459$0$0$763,305
78$1,513,808$0$0$789,691
79$1,566,176$0$0$817,147
80$1,620,671$0$0$845,731
81$1,677,410$0$0$875,505
82$1,736,516$0$0$906,537
83$1,798,123$0$0$938,899
84$1,862,376$0$0$972,668
85$1,929,428$0$0$1,007,929
86$1,999,449$0$0$1,044,771
87$2,072,617$0$0$1,083,294
88$2,149,130$0$0$1,123,603
89$2,229,198$0$0$1,165,812
90$2,313,049$0$0$1,210,047
91$2,400,933$0$0$1,256,440
92$2,493,117$0$0$1,305,140
93$2,589,893$0$0$1,356,304
94$2,691,578$0$0$1,410,105
95$2,798,518$0$0$1,466,730
96$2,911,085$0$0$1,526,384
97$3,029,689$0$0$1,589,290
98$3,154,773$0$0$1,655,689
99$3,286,822$0$0$1,725,846
100$3,426,362$0$0$1,800,049