Can I retire at age 58 with 717,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $717,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$59,209$58,682$58,167$57,665$57,175$56,020
2 years$29,311$28,766$28,237$27,724$27,226$26,068
3 years$19,347$18,799$18,271$17,763$17,273$16,148
4 years$14,366$13,819$13,297$12,797$12,319$11,235
5 years$11,378$10,834$10,319$9,829$9,365$8,325
6 years$9,386$8,847$8,339$7,861$7,410$6,416
7 years$7,964$7,430$6,930$6,463$6,027$5,078
8 years$6,898$6,369$5,877$5,421$5,000$4,096
9 years$6,070$5,545$5,062$4,618$4,210$3,352
10 years$5,407$4,888$4,413$3,981$3,587$2,773
11 years$4,866$4,351$3,885$3,464$3,085$2,313
12 years$4,415$3,905$3,448$3,039$2,674$1,944
13 years$4,033$3,529$3,081$2,683$2,331$1,642
14 years$3,707$3,208$2,768$2,381$2,044$1,393
15 years$3,424$2,931$2,499$2,124$1,800$1,187
16 years$3,177$2,689$2,266$1,902$1,590$1,014
17 years$2,959$2,476$2,062$1,709$1,410$869
18 years$2,765$2,288$1,882$1,540$1,254$746
19 years$2,592$2,121$1,723$1,391$1,118$642
20 years$2,437$1,971$1,581$1,260$998$553
21 years$2,296$1,836$1,454$1,144$893$477
22 years$2,169$1,713$1,340$1,040$801$413
23 years$2,053$1,603$1,238$947$719$357
24 years$1,946$1,501$1,145$864$646$309
25 years$1,849$1,409$1,060$789$581$267
26 years$1,758$1,324$983$721$524$232
27 years$1,675$1,246$913$660$472$201
28 years$1,598$1,174$849$605$426$174
29 years$1,526$1,108$790$555$385$151
30 years$1,460$1,046$736$509$348$131
31 years$1,397$989$686$468$314$114
32 years$1,339$936$640$430$284$99
33 years$1,284$886$598$395$257$86
34 years$1,233$840$558$364$233$75
35 years$1,184$797$522$335$211$65
36 years$1,139$756$488$308$191$57
37 years$1,096$718$457$284$173$49
38 years$1,055$683$428$262$157$43
39 years$1,017$649$401$241$142$37
40 years$980$618$376$223$129$32
41 years$946$588$352$205$117$28
42 years$913$560$331$190$106$25
43 years$882$533$310$175$97$21
44 years$852$508$291$162$88$19
45 years$824$485$273$149$80$16
46 years$797$463$257$138$72$14
47 years$771$441$241$127$66$12
48 years$746$421$227$118$60$11
49 years$723$402$213$109$54$9
50 years$700$384$200$101$49$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $717,000, adding $2,691 every year, while hoping to spend $45,151 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: 86/6/8 Blend
57$717,000$717,000$717,000$717,000
58$792,910$754,909$743,795$860,208
59$825,746$743,859$720,672$893,464
60$860,419$730,754$695,261$923,539
61$897,067$715,447$667,438$955,153
62$935,843$697,779$637,072$988,430
63$976,914$677,585$604,029$1,023,505
64$1,020,460$654,688$568,165$1,060,529
65$1,066,682$628,902$529,333$1,099,665
66$1,115,795$600,030$487,377$1,141,094
67$1,168,037$567,863$442,136$1,185,016
68$1,223,669$532,180$393,439$1,231,648
69$1,282,974$492,748$341,111$1,281,232
70$1,346,266$449,321$284,966$1,334,031
71$1,413,884$401,637$224,812$1,390,339
72$1,486,204$349,421$160,447$1,450,474
73$1,563,636$292,381$91,661$1,514,792
74$1,646,630$230,211$18,234$1,583,681
75$1,735,680$162,585$0$1,657,571
76$1,831,327$89,159$0$1,742,064
77$1,934,166$9,572$0$1,834,545
78$2,044,850$0$0$1,934,050
79$2,164,096$0$0$2,046,287
80$2,292,692$0$0$2,168,013
81$2,431,501$0$0$2,299,413
82$2,581,476$0$0$2,441,391
83$2,743,659$0$0$2,594,934
84$2,919,200$0$0$2,761,130
85$3,109,360$0$0$2,941,177
86$3,315,527$0$0$3,136,388
87$3,539,226$0$0$3,348,210
88$3,782,137$0$0$3,578,233
89$4,046,105$0$0$3,828,207
90$4,333,161$0$0$4,100,055
91$4,645,539$0$0$4,395,894
92$4,985,696$0$0$4,718,055
93$5,356,339$0$0$5,069,100
94$5,760,443$0$0$5,451,850
95$6,201,285$0$0$5,869,411
96$6,682,471$0$0$6,325,199
97$7,207,971$0$0$6,822,977
98$7,782,155$0$0$7,366,885
99$8,409,832$0$0$7,961,482
100$9,096,301$0$0$8,611,789