Can I retire at age 58 with 716,000?

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 $716,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$59,127$58,600$58,086$57,585$57,095$55,579
2 years$29,271$28,725$28,197$27,685$27,188$25,672
3 years$19,320$18,772$18,245$17,738$17,249$15,780
4 years$14,346$13,800$13,278$12,779$12,302$10,891
5 years$11,362$10,819$10,304$9,816$9,352$8,002
6 years$9,373$8,835$8,327$7,850$7,400$6,113
7 years$7,953$7,419$6,920$6,454$6,018$4,795
8 years$6,889$6,360$5,869$5,414$4,993$3,832
9 years$6,061$5,537$5,055$4,611$4,204$3,105
10 years$5,400$4,881$4,407$3,975$3,582$2,544
11 years$4,859$4,345$3,880$3,459$3,081$2,101
12 years$4,408$3,900$3,443$3,034$2,670$1,747
13 years$4,028$3,524$3,076$2,679$2,328$1,460
14 years$3,701$3,204$2,764$2,378$2,041$1,225
15 years$3,419$2,927$2,496$2,121$1,797$1,032
16 years$3,172$2,685$2,263$1,899$1,588$872
17 years$2,955$2,473$2,059$1,706$1,408$739
18 years$2,761$2,285$1,879$1,538$1,252$627
19 years$2,589$2,118$1,721$1,389$1,116$533
20 years$2,433$1,968$1,579$1,258$997$454
21 years$2,293$1,833$1,452$1,142$892$387
22 years$2,166$1,711$1,339$1,038$800$330
23 years$2,050$1,600$1,236$946$718$282
24 years$1,944$1,499$1,143$862$645$241
25 years$1,846$1,407$1,059$788$581$206
26 years$1,756$1,322$982$720$523$176
27 years$1,673$1,245$912$659$471$151
28 years$1,596$1,173$848$604$425$129
29 years$1,524$1,106$789$554$384$111
30 years$1,457$1,045$735$508$347$95
31 years$1,395$988$685$467$314$81
32 years$1,337$935$639$429$284$70
33 years$1,282$885$597$395$257$60
34 years$1,231$839$558$363$233$51
35 years$1,183$796$521$334$211$44
36 years$1,137$755$488$308$191$38
37 years$1,094$717$456$284$173$32
38 years$1,054$682$427$261$157$28
39 years$1,015$648$400$241$142$24
40 years$979$617$375$222$129$20
41 years$944$587$352$205$117$18
42 years$912$559$330$189$106$15
43 years$880$533$310$175$96$13
44 years$851$508$291$161$87$11
45 years$822$484$273$149$79$10
46 years$795$462$256$138$72$8
47 years$770$441$241$127$65$7
48 years$745$421$226$117$59$6
49 years$722$402$213$109$54$5
50 years$699$384$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 $716,000, adding $2,314 every year, while hoping to spend $28,920 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: 57/21/22 Blend
57$716,000$716,000$716,000$716,000
58$791,419$753,471$742,373$831,716
59$841,373$759,620$736,472$865,621
60$895,453$765,102$729,404$899,265
61$954,050$769,852$721,099$935,305
62$1,017,592$773,804$711,485$973,981
63$1,086,551$776,885$700,485$1,015,556
64$1,161,447$779,021$688,019$1,060,320
65$1,242,851$780,129$674,003$1,108,596
66$1,331,390$780,123$658,351$1,160,740
67$1,427,756$778,914$640,970$1,217,144
68$1,532,709$776,402$621,764$1,278,244
69$1,647,086$772,487$600,634$1,344,518
70$1,771,808$767,057$577,474$1,416,499
71$1,907,888$759,999$552,175$1,494,773
72$2,056,441$751,188$524,622$1,579,986
73$2,218,697$740,495$494,696$1,672,856
74$2,396,007$727,781$462,270$1,774,171
75$2,589,858$712,902$427,215$1,884,806
76$2,801,891$695,701$389,394$2,005,724
77$3,033,908$676,015$348,663$2,137,990
78$3,287,898$653,670$304,874$2,282,781
79$3,566,047$628,484$257,871$2,441,394
80$3,870,765$600,260$207,491$2,615,264
81$4,204,705$568,795$153,564$2,805,973
82$4,570,789$533,871$95,913$3,015,269
83$4,972,236$495,257$34,352$3,245,081
84$5,412,590$452,710$0$3,497,537
85$5,895,755$405,974$0$3,782,346
86$6,426,033$354,777$0$4,103,827
87$7,008,159$298,833$0$4,456,820
88$7,647,353$237,837$0$4,844,536
89$8,349,361$171,469$0$5,270,515
90$9,120,517$99,392$0$5,738,658
91$9,967,795$21,248$0$6,253,269
92$10,898,881$0$0$6,819,091
93$11,922,241$0$0$7,455,991
94$13,047,201$0$0$8,161,589
95$14,284,037$0$0$8,937,428
96$15,644,069$0$0$9,790,618
97$17,139,772$0$0$10,728,993
98$18,784,886$0$0$11,761,184
99$20,594,553$0$0$12,896,700
100$22,585,455$0$0$14,146,019