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%16.2%
1 years$59,044$58,518$58,005$57,504$57,015$55,569
2 years$29,230$28,685$28,158$27,646$27,150$25,703
3 years$19,293$18,746$18,220$17,713$17,225$15,822
4 years$14,325$13,780$13,259$12,761$12,285$10,936
5 years$11,346$10,804$10,290$9,802$9,339$8,048
6 years$9,360$8,822$8,316$7,839$7,390$6,159
7 years$7,942$7,409$6,910$6,445$6,010$4,839
8 years$6,879$6,351$5,861$5,406$4,986$3,874
9 years$6,053$5,530$5,048$4,605$4,199$3,145
10 years$5,392$4,874$4,401$3,969$3,577$2,581
11 years$4,852$4,339$3,874$3,455$3,077$2,136
12 years$4,402$3,895$3,438$3,030$2,666$1,779
13 years$4,022$3,519$3,072$2,675$2,325$1,490
14 years$3,696$3,199$2,760$2,375$2,038$1,253
15 years$3,414$2,922$2,492$2,118$1,794$1,058
16 years$3,168$2,681$2,259$1,896$1,586$896
17 years$2,950$2,469$2,056$1,704$1,406$760
18 years$2,757$2,282$1,877$1,535$1,250$647
19 years$2,585$2,115$1,718$1,387$1,114$551
20 years$2,430$1,965$1,577$1,257$995$470
21 years$2,290$1,830$1,450$1,140$891$402
22 years$2,163$1,709$1,337$1,037$799$344
23 years$2,047$1,598$1,234$944$717$294
24 years$1,941$1,497$1,141$861$644$252
25 years$1,843$1,405$1,057$787$580$216
26 years$1,754$1,321$981$719$522$185
27 years$1,671$1,243$911$658$471$159
28 years$1,594$1,171$846$603$425$136
29 years$1,522$1,105$788$553$384$117
30 years$1,455$1,043$734$508$347$101
31 years$1,393$986$684$466$313$87
32 years$1,335$933$638$428$283$74
33 years$1,280$884$596$394$257$64
34 years$1,229$838$557$363$232$55
35 years$1,181$795$521$334$210$47
36 years$1,136$754$487$307$191$41
37 years$1,093$716$456$283$173$35
38 years$1,052$681$427$261$157$30
39 years$1,014$647$400$241$142$26
40 years$978$616$375$222$129$22
41 years$943$586$351$205$117$19
42 years$910$558$330$189$106$16
43 years$879$532$309$174$96$14
44 years$850$507$290$161$87$12
45 years$821$484$273$149$79$10
46 years$794$461$256$137$72$9
47 years$769$440$241$127$65$8
48 years$744$420$226$117$59$7
49 years$721$401$213$108$54$6
50 years$698$383$200$100$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $715,000, adding $3,600 every year, while hoping to spend $33,106 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: 72/8/20 Blend
57$715,000$715,000$715,000$715,000
58$791,643$753,748$742,666$844,573
59$837,166$755,458$732,321$881,971
60$886,223$756,141$720,519$918,606
61$939,140$755,713$707,178$957,894
62$996,273$754,084$692,209$1,000,095
63$1,058,015$751,157$675,521$1,045,491
64$1,124,800$746,831$657,018$1,094,399
65$1,197,101$740,997$636,600$1,147,164
66$1,275,440$733,540$614,160$1,204,169
67$1,360,391$724,340$589,591$1,265,838
68$1,452,585$713,266$562,776$1,332,636
69$1,552,715$700,184$533,597$1,405,078
70$1,661,547$684,947$501,926$1,483,731
71$1,779,918$667,403$467,634$1,569,222
72$1,908,753$647,389$430,584$1,662,243
73$2,049,069$624,734$390,631$1,763,556
74$2,201,984$599,257$347,628$1,874,002
75$2,368,730$570,764$301,417$1,994,510
76$2,550,662$539,052$251,835$2,126,105
77$2,749,270$503,906$198,713$2,269,917
78$2,966,198$465,100$141,871$2,427,193
79$3,203,251$422,391$81,126$2,599,309
80$3,462,422$375,527$16,282$2,787,783
81$3,745,899$324,238$0$2,994,288
82$4,056,096$268,241$0$3,231,963
83$4,395,668$207,236$0$3,495,997
84$4,767,542$140,905$0$3,785,203
85$5,174,937$68,915$0$4,102,109
86$5,621,401$0$0$4,449,501
87$6,110,841$0$0$4,831,246
88$6,647,559$0$0$5,256,554
89$7,236,296$0$0$5,723,118
90$7,882,270$0$0$6,235,079
91$8,591,232$0$0$6,796,998
92$9,369,514$0$0$7,413,899
93$10,224,093$0$0$8,091,319
94$11,162,655$0$0$8,835,353
95$12,193,664$0$0$9,652,719
96$13,326,447$0$0$10,550,814
97$14,571,279$0$0$11,537,792
98$15,939,478$0$0$12,622,631
99$17,443,514$0$0$13,815,225
100$19,097,125$0$0$15,126,474