Can I retire at age 58 with 720,000?

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 $720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$59,457$58,927$58,411$57,906$57,414$56,909
2 years$29,434$28,886$28,355$27,840$27,340$26,831
3 years$19,428$18,877$18,347$17,837$17,346$16,849
4 years$14,426$13,877$13,352$12,851$12,371$11,890
5 years$11,425$10,880$10,362$9,870$9,404$8,940
6 years$9,425$8,884$8,374$7,894$7,441$6,995
7 years$7,998$7,461$6,959$6,490$6,052$5,623
8 years$6,927$6,395$5,902$5,444$5,020$4,610
9 years$6,095$5,568$5,083$4,637$4,228$3,835
10 years$5,430$4,908$4,431$3,997$3,602$3,227
11 years$4,886$4,369$3,901$3,479$3,098$2,740
12 years$4,433$3,922$3,462$3,051$2,685$2,344
13 years$4,050$3,544$3,093$2,694$2,341$2,017
14 years$3,722$3,221$2,779$2,391$2,052$1,744
15 years$3,438$2,943$2,509$2,133$1,807$1,514
16 years$3,190$2,700$2,275$1,910$1,597$1,320
17 years$2,971$2,487$2,070$1,716$1,416$1,153
18 years$2,777$2,298$1,890$1,546$1,259$1,010
19 years$2,603$2,130$1,730$1,397$1,122$887
20 years$2,447$1,979$1,588$1,265$1,002$781
21 years$2,306$1,843$1,461$1,148$897$688
22 years$2,178$1,721$1,346$1,044$804$607
23 years$2,061$1,609$1,243$951$722$537
24 years$1,954$1,508$1,149$867$649$475
25 years$1,856$1,415$1,065$792$584$420
26 years$1,766$1,330$987$724$526$372
27 years$1,682$1,252$917$663$474$330
28 years$1,605$1,179$852$607$428$293
29 years$1,533$1,113$793$557$386$260
30 years$1,466$1,051$739$511$349$231
31 years$1,403$993$689$469$316$206
32 years$1,344$940$643$431$285$183
33 years$1,289$890$600$397$258$163
34 years$1,238$844$561$365$234$145
35 years$1,189$800$524$336$212$129
36 years$1,144$759$490$309$192$115
37 years$1,100$721$459$285$174$102
38 years$1,060$685$430$263$158$91
39 years$1,021$652$403$242$143$81
40 years$984$620$377$224$130$72
41 years$950$590$354$206$118$64
42 years$917$562$332$190$107$57
43 years$885$536$312$176$97$51
44 years$855$511$292$162$88$46
45 years$827$487$275$150$80$41
46 years$800$464$258$138$73$36
47 years$774$443$242$128$66$32
48 years$749$423$228$118$60$29
49 years$726$404$214$109$54$26
50 years$703$386$201$101$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $720,000, adding $6,106 every year, while hoping to spend $45,862 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: 37/45/18 Blend
57$720,000$720,000$720,000$720,000
58$799,738$761,578$750,418$824,774
59$832,515$750,099$726,761$831,945
60$867,097$736,520$700,773$834,902
61$903,622$720,690$672,330$837,135
62$942,236$702,449$641,298$838,604
63$983,103$681,627$607,539$839,269
64$1,026,397$658,045$570,910$839,090
65$1,072,313$631,512$531,258$838,029
66$1,121,060$601,828$488,427$836,047
67$1,172,870$568,779$442,251$833,106
68$1,227,995$532,141$392,559$829,173
69$1,286,710$491,676$339,169$824,214
70$1,349,319$447,132$281,895$818,198
71$1,416,151$398,243$220,540$811,099
72$1,487,570$344,728$154,900$802,894
73$1,563,973$286,291$84,761$793,564
74$1,645,797$222,618$9,899$783,100
75$1,733,519$153,377$0$771,495
76$1,827,664$78,219$0$772,197
77$1,928,808$0$0$774,678
78$2,037,582$0$0$778,706
79$2,154,680$0$0$824,810
80$2,280,864$0$0$874,568
81$2,416,970$0$0$928,318
82$2,563,918$0$0$986,433
83$2,722,719$0$0$1,049,325
84$2,894,481$0$0$1,117,443
85$3,080,425$0$0$1,191,283
86$3,281,893$0$0$1,271,390
87$3,500,359$0$0$1,358,364
88$3,737,446$0$0$1,452,865
89$3,994,937$0$0$1,555,617
90$4,274,795$0$0$1,667,418
91$4,579,179$0$0$1,789,146
92$4,910,462$0$0$1,921,767
93$5,271,260$0$0$2,066,345
94$5,664,446$0$0$2,224,050
95$6,093,186$0$0$2,396,169
96$6,560,963$0$0$2,584,120
97$7,071,610$0$0$2,789,463
98$7,629,349$0$0$3,013,918
99$8,238,825$0$0$3,259,374
100$8,905,153$0$0$3,527,915