Can I retire at age 58 with 714,000?

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 $714,000?

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$58,961$58,436$57,924$57,424$56,935$55,946
2 years$29,189$28,645$28,118$27,608$27,112$26,119
3 years$19,266$18,720$18,194$17,688$17,201$16,234
4 years$14,305$13,761$13,241$12,744$12,268$11,335
5 years$11,330$10,789$10,275$9,788$9,326$8,430
6 years$9,347$8,810$8,304$7,828$7,379$6,521
7 years$7,931$7,399$6,901$6,436$6,001$5,182
8 years$6,870$6,342$5,852$5,399$4,979$4,197
9 years$6,044$5,522$5,041$4,598$4,193$3,449
10 years$5,385$4,867$4,395$3,964$3,572$2,865
11 years$4,845$4,333$3,869$3,450$3,072$2,401
12 years$4,396$3,889$3,434$3,026$2,662$2,026
13 years$4,016$3,515$3,068$2,671$2,322$1,720
14 years$3,691$3,195$2,756$2,371$2,035$1,467
15 years$3,409$2,918$2,489$2,115$1,792$1,255
16 years$3,163$2,678$2,256$1,894$1,584$1,078
17 years$2,946$2,466$2,053$1,701$1,404$928
18 years$2,754$2,279$1,874$1,533$1,249$801
19 years$2,581$2,112$1,716$1,385$1,113$693
20 years$2,427$1,962$1,575$1,255$994$600
21 years$2,287$1,828$1,448$1,139$890$521
22 years$2,160$1,706$1,335$1,035$797$452
23 years$2,044$1,596$1,233$943$716$393
24 years$1,938$1,495$1,140$860$643$342
25 years$1,841$1,403$1,056$785$579$298
26 years$1,751$1,319$979$718$521$260
27 years$1,668$1,241$909$657$470$227
28 years$1,591$1,169$845$602$424$198
29 years$1,520$1,103$787$552$383$173
30 years$1,453$1,042$733$507$346$151
31 years$1,391$985$683$466$313$132
32 years$1,333$932$637$428$283$115
33 years$1,279$883$595$393$256$101
34 years$1,227$837$556$362$232$88
35 years$1,179$793$520$333$210$77
36 years$1,134$753$486$307$190$67
37 years$1,091$715$455$283$173$59
38 years$1,051$680$426$261$156$51
39 years$1,012$646$399$240$142$45
40 years$976$615$374$222$129$39
41 years$942$585$351$205$117$34
42 years$909$557$329$189$106$30
43 years$878$531$309$174$96$26
44 years$848$506$290$161$87$23
45 years$820$483$272$149$79$20
46 years$793$461$256$137$72$18
47 years$768$440$240$127$65$16
48 years$743$420$226$117$59$14
49 years$720$401$212$108$54$12
50 years$697$383$200$100$49$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $714,000, adding $3,781 every year, while hoping to spend $21,132 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: 47/40/13 Blend
57$714,000$714,000$714,000$714,000
58$790,728$752,886$741,819$824,847
59$848,898$767,293$744,186$863,236
60$912,293$781,698$745,923$902,400
61$981,424$796,078$746,989$944,435
62$1,056,853$810,409$747,336$989,616
63$1,139,197$824,665$746,918$1,038,248
64$1,229,140$838,818$745,684$1,090,663
65$1,327,429$852,837$743,581$1,147,230
66$1,434,891$866,690$740,556$1,208,357
67$1,552,434$880,342$736,548$1,274,490
68$1,681,059$893,755$731,499$1,346,125
69$1,821,867$906,890$725,344$1,423,806
70$1,976,071$919,701$718,017$1,508,136
71$2,145,009$932,145$709,449$1,599,777
72$2,330,150$944,170$699,566$1,699,461
73$2,533,116$955,725$688,292$1,807,995
74$2,755,691$966,753$675,547$1,926,269
75$2,999,840$977,193$661,247$2,055,265
76$3,267,730$986,982$645,305$2,196,064
77$3,561,745$996,050$627,629$2,349,863
78$3,884,511$1,004,325$608,123$2,517,977
79$4,238,923$1,011,728$586,686$2,701,859
80$4,628,168$1,018,177$563,215$2,903,112
81$5,055,757$1,023,584$537,599$3,123,502
82$5,525,559$1,027,855$509,723$3,364,979
83$6,041,836$1,030,889$479,469$3,629,691
84$6,609,281$1,032,582$446,710$3,920,010
85$7,233,069$1,032,819$411,315$4,238,549
86$7,918,896$1,031,481$373,149$4,588,192
87$8,673,042$1,028,442$332,067$4,972,117
88$9,502,423$1,023,566$287,922$5,393,830
89$10,414,659$1,016,710$240,557$5,857,199
90$11,418,148$1,007,723$189,809$6,366,486
91$12,522,140$996,442$135,508$6,926,392
92$13,736,829$982,698$77,478$7,542,101
93$15,073,445$966,310$15,533$8,219,331
94$16,544,362$947,085$0$8,964,383
95$18,163,217$924,822$0$9,791,222
96$19,945,031$899,304$0$10,703,253
97$21,906,359$870,305$0$11,706,796
98$24,065,441$837,583$0$12,811,197
99$26,442,375$800,884$0$14,026,759
100$29,059,308$759,938$0$15,364,839