Can I retire at age 58 with 721,000?

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 $721,000?

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$59,540$59,009$58,492$57,987$57,494$55,945
2 years$29,475$28,926$28,394$27,878$27,378$25,829
3 years$19,455$18,903$18,373$17,862$17,370$15,868
4 years$14,446$13,896$13,371$12,868$12,388$10,946
5 years$11,441$10,895$10,376$9,884$9,417$8,039
6 years$9,439$8,896$8,386$7,904$7,452$6,138
7 years$8,009$7,471$6,968$6,499$6,060$4,811
8 years$6,937$6,404$5,910$5,452$5,027$3,843
9 years$6,104$5,576$5,090$4,644$4,234$3,113
10 years$5,438$4,915$4,438$4,003$3,607$2,548
11 years$4,893$4,375$3,907$3,484$3,103$2,103
12 years$4,439$3,927$3,467$3,056$2,689$1,747
13 years$4,056$3,549$3,098$2,698$2,345$1,459
14 years$3,727$3,226$2,783$2,395$2,055$1,224
15 years$3,443$2,947$2,513$2,136$1,810$1,031
16 years$3,194$2,704$2,278$1,912$1,599$870
17 years$2,975$2,490$2,073$1,718$1,418$736
18 years$2,781$2,301$1,893$1,548$1,261$625
19 years$2,607$2,133$1,733$1,399$1,124$531
20 years$2,450$1,982$1,590$1,267$1,004$451
21 years$2,309$1,846$1,463$1,150$898$384
22 years$2,181$1,723$1,348$1,046$805$328
23 years$2,064$1,611$1,245$952$723$280
24 years$1,957$1,510$1,151$869$650$239
25 years$1,859$1,417$1,066$793$585$204
26 years$1,768$1,332$989$725$527$174
27 years$1,685$1,253$918$664$475$149
28 years$1,607$1,181$854$608$428$128
29 years$1,535$1,114$794$558$387$109
30 years$1,468$1,052$740$512$350$94
31 years$1,405$995$690$470$316$80
32 years$1,346$941$644$432$286$69
33 years$1,291$891$601$397$259$59
34 years$1,240$845$561$366$234$50
35 years$1,191$801$525$337$212$43
36 years$1,145$760$491$310$192$37
37 years$1,102$722$460$286$174$32
38 years$1,061$686$430$263$158$27
39 years$1,022$653$403$243$143$23
40 years$986$621$378$224$130$20
41 years$951$591$354$207$118$17
42 years$918$563$332$191$107$15
43 years$887$536$312$176$97$13
44 years$857$511$293$162$88$11
45 years$828$488$275$150$80$9
46 years$801$465$258$139$73$8
47 years$775$444$243$128$66$7
48 years$750$424$228$118$60$6
49 years$727$405$214$109$54$5
50 years$704$387$201$101$49$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $721,000, adding $5,324 every year, while hoping to spend $41,585 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: 76/7/17 Blend
57$721,000$721,000$721,000$721,000
58$800,034$761,821$750,645$857,394
59$837,391$754,904$731,546$889,127
60$877,165$746,254$710,413$918,211
61$919,558$735,743$687,134$948,979
62$964,793$723,234$661,592$981,586
63$1,013,112$708,582$633,666$1,016,204
64$1,064,781$691,635$603,225$1,053,023
65$1,120,093$672,230$570,138$1,092,250
66$1,179,368$650,195$534,263$1,134,119
67$1,242,958$625,348$495,455$1,178,884
68$1,311,247$597,498$453,561$1,226,827
69$1,384,660$566,441$408,420$1,278,259
70$1,463,660$531,961$359,867$1,333,526
71$1,548,757$493,831$307,727$1,393,006
72$1,640,513$451,811$251,818$1,457,119
73$1,739,541$405,646$191,950$1,526,330
74$1,846,519$355,067$127,925$1,601,150
75$1,962,190$299,791$59,536$1,682,144
76$2,087,369$239,517$0$1,769,936
77$2,222,956$173,928$0$1,867,656
78$2,369,936$102,690$0$1,985,307
79$2,529,396$25,448$0$2,112,962
80$2,702,529$0$0$2,251,594
81$2,890,649$0$0$2,406,753
82$3,095,199$0$0$2,577,620
83$3,317,770$0$0$2,763,565
84$3,560,108$0$0$2,966,052
85$3,824,139$0$0$3,186,691
86$4,111,979$0$0$3,427,256
87$4,425,959$0$0$3,689,697
88$4,768,643$0$0$3,976,162
89$5,142,855$0$0$4,289,016
90$5,551,703$0$0$4,630,860
91$5,998,608$0$0$5,004,559
92$6,487,337$0$0$5,413,269
93$7,022,038$0$0$5,860,461
94$7,607,278$0$0$6,349,961
95$8,248,086$0$0$6,885,980
96$8,949,999$0$0$7,473,155
97$9,719,116$0$0$8,116,592
98$10,562,154$0$0$8,821,918
99$11,486,511$0$0$9,595,326
100$12,500,332$0$0$10,443,638