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%16.6%
1 years$59,044$58,518$58,005$57,504$57,015$55,479
2 years$29,230$28,685$28,158$27,646$27,150$25,614
3 years$19,293$18,746$18,220$17,713$17,225$15,736
4 years$14,325$13,780$13,259$12,761$12,285$10,855
5 years$11,346$10,804$10,290$9,802$9,339$7,972
6 years$9,360$8,822$8,316$7,839$7,390$6,087
7 years$7,942$7,409$6,910$6,445$6,010$4,771
8 years$6,879$6,351$5,861$5,406$4,986$3,811
9 years$6,053$5,530$5,048$4,605$4,199$3,087
10 years$5,392$4,874$4,401$3,969$3,577$2,527
11 years$4,852$4,339$3,874$3,455$3,077$2,085
12 years$4,402$3,895$3,438$3,030$2,666$1,733
13 years$4,022$3,519$3,072$2,675$2,325$1,447
14 years$3,696$3,199$2,760$2,375$2,038$1,214
15 years$3,414$2,922$2,492$2,118$1,794$1,022
16 years$3,168$2,681$2,259$1,896$1,586$863
17 years$2,950$2,469$2,056$1,704$1,406$730
18 years$2,757$2,282$1,877$1,535$1,250$619
19 years$2,585$2,115$1,718$1,387$1,114$526
20 years$2,430$1,965$1,577$1,257$995$448
21 years$2,290$1,830$1,450$1,140$891$381
22 years$2,163$1,709$1,337$1,037$799$325
23 years$2,047$1,598$1,234$944$717$277
24 years$1,941$1,497$1,141$861$644$237
25 years$1,843$1,405$1,057$787$580$202
26 years$1,754$1,321$981$719$522$173
27 years$1,671$1,243$911$658$471$148
28 years$1,594$1,171$846$603$425$127
29 years$1,522$1,105$788$553$384$108
30 years$1,455$1,043$734$508$347$93
31 years$1,393$986$684$466$313$79
32 years$1,335$933$638$428$283$68
33 years$1,280$884$596$394$257$58
34 years$1,229$838$557$363$232$50
35 years$1,181$795$521$334$210$43
36 years$1,136$754$487$307$191$37
37 years$1,093$716$456$283$173$31
38 years$1,052$681$427$261$157$27
39 years$1,014$647$400$241$142$23
40 years$978$616$375$222$129$20
41 years$943$586$351$205$117$17
42 years$910$558$330$189$106$15
43 years$879$532$309$174$96$12
44 years$850$507$290$161$87$11
45 years$821$484$273$149$79$9
46 years$794$461$256$137$72$8
47 years$769$440$241$127$65$7
48 years$744$420$226$117$59$6
49 years$721$401$213$108$54$5
50 years$698$383$200$100$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $715,000, adding $5,038 every year, while hoping to spend $29,840 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: 47/37/16 Blend
57$715,000$715,000$715,000$715,000
58$793,127$755,232$744,149$826,601
59$842,276$760,489$737,329$855,609
60$895,439$765,003$729,280$883,637
61$952,992$768,707$719,929$913,411
62$1,015,352$771,528$709,201$945,107
63$1,082,975$773,390$697,017$978,918
64$1,156,363$774,211$683,292$1,015,058
65$1,236,069$773,904$667,939$1,053,767
66$1,322,700$772,378$650,867$1,095,307
67$1,416,925$769,534$631,981$1,139,972
68$1,519,480$765,269$611,180$1,188,086
69$1,631,173$759,473$588,360$1,240,007
70$1,752,894$752,029$563,412$1,296,135
71$1,885,625$742,814$536,222$1,356,909
72$2,030,443$731,696$506,670$1,422,818
73$2,188,535$718,537$474,631$1,494,402
74$2,361,210$703,189$439,975$1,572,259
75$2,549,904$685,496$402,565$1,657,052
76$2,756,203$665,294$362,259$1,749,514
77$2,981,850$642,407$318,909$1,850,455
78$3,228,764$616,651$272,358$1,960,772
79$3,499,062$587,830$222,446$2,081,459
80$3,795,070$555,738$169,001$2,213,613
81$4,119,352$520,154$111,848$2,358,447
82$4,474,733$480,849$50,802$2,517,304
83$4,864,321$437,576$0$2,691,667
84$5,291,543$390,078$0$2,885,627
85$5,760,169$338,080$0$3,107,962
86$6,274,355$281,295$0$3,352,029
87$6,838,678$219,417$0$3,620,080
88$7,458,178$152,124$0$3,914,602
89$8,138,409$79,074$0$4,238,337
90$8,885,487$0$0$4,594,314
91$9,706,152$0$0$4,985,913
92$10,607,826$0$0$5,451,626
93$11,598,688$0$0$5,963,491
94$12,687,747$0$0$6,526,175
95$13,884,929$0$0$7,144,816
96$15,201,169$0$0$7,825,076
97$16,648,515$0$0$8,573,196
98$18,240,240$0$0$9,396,047
99$19,990,968$0$0$10,301,204
100$21,916,813$0$0$11,297,009