Can I retire at age 58 with 715,000?

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 $715,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$59,044$58,518$58,005$57,504$57,015$55,818
2 years$29,230$28,685$28,158$27,646$27,150$25,950
3 years$19,293$18,746$18,220$17,713$17,225$16,059
4 years$14,325$13,780$13,259$12,761$12,285$11,162
5 years$11,346$10,804$10,290$9,802$9,339$8,262
6 years$9,360$8,822$8,316$7,839$7,390$6,360
7 years$7,942$7,409$6,910$6,445$6,010$5,028
8 years$6,879$6,351$5,861$5,406$4,986$4,051
9 years$6,053$5,530$5,048$4,605$4,199$3,311
10 years$5,392$4,874$4,401$3,969$3,577$2,736
11 years$4,852$4,339$3,874$3,455$3,077$2,280
12 years$4,402$3,895$3,438$3,030$2,666$1,913
13 years$4,022$3,519$3,072$2,675$2,325$1,614
14 years$3,696$3,199$2,760$2,375$2,038$1,368
15 years$3,414$2,922$2,492$2,118$1,794$1,164
16 years$3,168$2,681$2,259$1,896$1,586$993
17 years$2,950$2,469$2,056$1,704$1,406$850
18 years$2,757$2,282$1,877$1,535$1,250$728
19 years$2,585$2,115$1,718$1,387$1,114$626
20 years$2,430$1,965$1,577$1,257$995$538
21 years$2,290$1,830$1,450$1,140$891$464
22 years$2,163$1,709$1,337$1,037$799$400
23 years$2,047$1,598$1,234$944$717$346
24 years$1,941$1,497$1,141$861$644$299
25 years$1,843$1,405$1,057$787$580$258
26 years$1,754$1,321$981$719$522$223
27 years$1,671$1,243$911$658$471$193
28 years$1,594$1,171$846$603$425$168
29 years$1,522$1,105$788$553$384$145
30 years$1,455$1,043$734$508$347$126
31 years$1,393$986$684$466$313$109
32 years$1,335$933$638$428$283$95
33 years$1,280$884$596$394$257$82
34 years$1,229$838$557$363$232$71
35 years$1,181$795$521$334$210$62
36 years$1,136$754$487$307$191$54
37 years$1,093$716$456$283$173$47
38 years$1,052$681$427$261$157$40
39 years$1,014$647$400$241$142$35
40 years$978$616$375$222$129$31
41 years$943$586$351$205$117$26
42 years$910$558$330$189$106$23
43 years$879$532$309$174$96$20
44 years$850$507$290$161$87$17
45 years$821$484$273$149$79$15
46 years$794$461$256$137$72$13
47 years$769$440$241$127$65$11
48 years$744$420$226$117$59$10
49 years$721$401$213$108$54$9
50 years$698$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 $715,000, adding $2,404 every year, while hoping to spend $26,472 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: 29/47/24 Blend
57$715,000$715,000$715,000$715,000
58$790,410$752,515$741,432$807,366
59$842,866$761,222$738,104$829,456
60$899,785$769,469$733,777$850,692
61$961,594$777,204$728,391$872,979
62$1,028,764$784,375$721,879$896,423
63$1,101,812$790,923$714,176$921,144
64$1,181,306$796,788$705,210$947,277
65$1,267,873$801,904$694,908$974,972
66$1,362,201$806,202$683,192$1,004,395
67$1,465,048$809,608$669,982$1,035,732
68$1,577,248$812,044$655,191$1,069,191
69$1,699,719$813,426$638,733$1,105,001
70$1,833,473$813,667$620,513$1,143,418
71$1,979,622$812,671$600,434$1,184,729
72$2,139,391$810,339$578,396$1,229,250
73$2,314,128$806,565$554,292$1,277,334
74$2,505,319$801,237$528,011$1,329,372
75$2,714,599$794,235$499,436$1,385,799
76$2,943,768$785,432$468,447$1,447,099
77$3,194,809$774,695$434,917$1,513,807
78$3,469,905$761,881$398,713$1,586,519
79$3,771,463$746,840$359,696$1,665,894
80$4,102,129$729,412$317,723$1,752,665
81$4,464,821$709,428$272,642$1,847,643
82$4,862,753$686,710$224,295$1,951,727
83$5,299,463$661,068$172,518$2,065,916
84$5,778,849$632,302$117,139$2,191,313
85$6,305,207$600,200$57,979$2,329,142
86$6,883,266$564,538$0$2,480,757
87$7,518,238$525,078$0$2,648,980
88$8,215,862$481,571$0$2,850,080
89$8,982,463$433,751$0$3,071,085
90$9,825,007$381,338$0$3,314,082
91$10,751,170$324,036$0$3,581,379
92$11,769,409$261,533$0$3,875,524
93$12,889,039$193,498$0$4,199,329
94$14,120,324$119,583$0$4,555,904
95$15,474,574$39,419$0$4,948,679
96$16,964,247$0$0$5,381,445
97$18,603,072$0$0$5,882,892
98$20,406,173$0$0$6,457,165
99$22,390,218$0$0$7,089,203
100$24,573,567$0$0$7,784,870