Can I retire at age 58 with 714,000?

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 $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%15.2%
1 years$58,961$58,436$57,924$57,424$56,935$55,717
2 years$29,189$28,645$28,118$27,608$27,112$25,891
3 years$19,266$18,720$18,194$17,688$17,201$16,015
4 years$14,305$13,761$13,241$12,744$12,268$11,126
5 years$11,330$10,789$10,275$9,788$9,326$8,231
6 years$9,347$8,810$8,304$7,828$7,379$6,333
7 years$7,931$7,399$6,901$6,436$6,001$5,004
8 years$6,870$6,342$5,852$5,399$4,979$4,029
9 years$6,044$5,522$5,041$4,598$4,193$3,291
10 years$5,385$4,867$4,395$3,964$3,572$2,718
11 years$4,845$4,333$3,869$3,450$3,072$2,263
12 years$4,396$3,889$3,434$3,026$2,662$1,898
13 years$4,016$3,515$3,068$2,671$2,322$1,600
14 years$3,691$3,195$2,756$2,371$2,035$1,355
15 years$3,409$2,918$2,489$2,115$1,792$1,152
16 years$3,163$2,678$2,256$1,894$1,584$982
17 years$2,946$2,466$2,053$1,701$1,404$840
18 years$2,754$2,279$1,874$1,533$1,249$720
19 years$2,581$2,112$1,716$1,385$1,113$618
20 years$2,427$1,962$1,575$1,255$994$531
21 years$2,287$1,828$1,448$1,139$890$457
22 years$2,160$1,706$1,335$1,035$797$394
23 years$2,044$1,596$1,233$943$716$340
24 years$1,938$1,495$1,140$860$643$294
25 years$1,841$1,403$1,056$785$579$254
26 years$1,751$1,319$979$718$521$219
27 years$1,668$1,241$909$657$470$190
28 years$1,591$1,169$845$602$424$164
29 years$1,520$1,103$787$552$383$142
30 years$1,453$1,042$733$507$346$123
31 years$1,391$985$683$466$313$107
32 years$1,333$932$637$428$283$92
33 years$1,279$883$595$393$256$80
34 years$1,227$837$556$362$232$70
35 years$1,179$793$520$333$210$60
36 years$1,134$753$486$307$190$52
37 years$1,091$715$455$283$173$45
38 years$1,051$680$426$261$156$39
39 years$1,012$646$399$240$142$34
40 years$976$615$374$222$129$30
41 years$942$585$351$205$117$26
42 years$909$557$329$189$106$22
43 years$878$531$309$174$96$19
44 years$848$506$290$161$87$17
45 years$820$483$272$149$79$15
46 years$793$461$256$137$72$13
47 years$768$440$240$127$65$11
48 years$743$420$226$117$59$10
49 years$720$401$212$108$54$8
50 years$697$383$200$100$49$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $714,000, adding $3,523 every year, while hoping to spend $27,661 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: 43/28/29 Blend
57$714,000$714,000$714,000$714,000
58$790,462$752,620$741,553$817,638
59$841,658$760,067$736,964$844,935
60$897,149$766,952$731,294$871,615
61$957,344$773,219$724,478$900,001
62$1,022,692$778,805$716,447$930,267
63$1,093,688$783,649$707,130$962,608
64$1,170,876$787,680$696,451$997,238
65$1,254,855$790,825$684,331$1,034,397
66$1,346,284$793,009$670,689$1,074,349
67$1,445,885$794,147$655,438$1,117,387
68$1,554,459$794,153$638,488$1,163,837
69$1,672,881$792,934$619,745$1,214,059
70$1,802,118$790,391$599,110$1,268,453
71$1,943,233$786,419$576,479$1,327,460
72$2,097,396$780,908$551,745$1,391,571
73$2,265,897$773,739$524,795$1,461,327
74$2,450,154$764,787$495,511$1,537,329
75$2,651,729$753,921$463,770$1,620,242
76$2,872,342$741,000$429,443$1,710,800
77$3,113,887$725,874$392,395$1,809,818
78$3,378,449$708,388$352,485$1,918,195
79$3,668,325$688,373$309,568$2,036,926
80$3,986,044$665,654$263,489$2,167,113
81$4,334,393$640,043$214,088$2,309,973
82$4,716,440$611,343$161,198$2,466,851
83$5,135,563$579,345$104,645$2,639,236
84$5,595,485$543,828$44,245$2,828,771
85$6,100,306$504,557$0$3,037,274
86$6,654,542$461,286$0$3,273,007
87$7,263,169$413,752$0$3,546,951
88$7,931,666$361,680$0$3,847,917
89$8,666,071$304,777$0$4,178,679
90$9,473,035$242,736$0$4,542,298
91$10,359,884$175,230$0$4,942,149
92$11,334,691$101,915$0$5,381,956
93$12,406,349$22,427$0$5,865,825
94$13,584,654$0$0$6,398,285
95$14,880,401$0$0$7,003,933
96$16,305,483$0$0$7,677,733
97$17,873,003$0$0$8,418,981
98$19,597,397$0$0$9,234,518
99$21,494,572$0$0$10,131,878
100$23,582,053$0$0$11,119,365