Can I retire at age 58 with 722,000?

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 $722,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$59,622$59,091$58,573$58,067$57,573$56,948
2 years$29,516$28,966$28,433$27,917$27,416$26,787
3 years$19,482$18,930$18,398$17,887$17,394$16,780
4 years$14,466$13,915$13,389$12,886$12,405$11,811
5 years$11,457$10,910$10,391$9,898$9,430$8,858
6 years$9,452$8,909$8,397$7,915$7,462$6,912
7 years$8,020$7,481$6,978$6,508$6,069$5,541
8 years$6,947$6,413$5,918$5,459$5,034$4,530
9 years$6,112$5,584$5,097$4,650$4,240$3,757
10 years$5,445$4,922$4,444$4,008$3,612$3,152
11 years$4,900$4,382$3,912$3,488$3,107$2,668
12 years$4,445$3,933$3,472$3,060$2,692$2,275
13 years$4,061$3,554$3,102$2,701$2,348$1,951
14 years$3,732$3,230$2,787$2,398$2,058$1,682
15 years$3,448$2,951$2,516$2,139$1,812$1,455
16 years$3,199$2,708$2,282$1,915$1,601$1,264
17 years$2,979$2,494$2,076$1,720$1,420$1,101
18 years$2,784$2,304$1,895$1,551$1,263$961
19 years$2,610$2,135$1,735$1,401$1,125$841
20 years$2,454$1,984$1,592$1,269$1,005$737
21 years$2,312$1,848$1,465$1,152$900$647
22 years$2,184$1,725$1,350$1,047$806$569
23 years$2,067$1,614$1,246$954$724$501
24 years$1,960$1,512$1,153$870$651$441
25 years$1,861$1,419$1,068$794$585$389
26 years$1,771$1,334$990$726$527$344
27 years$1,687$1,255$919$665$475$304
28 years$1,609$1,183$855$609$429$268
29 years$1,537$1,116$795$559$387$237
30 years$1,470$1,054$741$513$350$210
31 years$1,407$996$691$471$316$186
32 years$1,348$942$644$433$286$165
33 years$1,293$892$602$398$259$146
34 years$1,241$846$562$366$235$129
35 years$1,193$802$526$337$212$115
36 years$1,147$761$492$310$192$102
37 years$1,103$723$460$286$174$90
38 years$1,062$687$431$264$158$80
39 years$1,024$654$404$243$143$71
40 years$987$622$378$224$130$63
41 years$952$592$355$207$118$56
42 years$919$564$333$191$107$49
43 years$888$537$312$176$97$44
44 years$858$512$293$163$88$39
45 years$829$488$275$150$80$35
46 years$802$466$259$139$73$31
47 years$776$444$243$128$66$27
48 years$751$424$228$118$60$24
49 years$728$405$215$109$54$21
50 years$705$387$202$101$49$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $722,000, adding $3,118 every year, while hoping to spend $51,162 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: 35/45/20 Blend
57$722,000$722,000$722,000$722,000
58$798,860$760,594$749,403$821,853
59$825,908$743,427$720,072$821,835
60$854,000$723,705$688,044$816,850
61$883,188$701,247$653,174$810,413
62$913,530$675,864$615,311$802,425
63$945,084$647,355$574,298$792,782
64$977,915$615,509$529,970$781,375
65$1,012,093$580,099$482,155$768,088
66$1,047,692$540,889$430,672$752,801
67$1,084,791$497,627$375,335$735,387
68$1,123,477$450,048$315,945$715,714
69$1,163,842$397,871$252,300$693,643
70$1,205,986$340,798$184,184$669,028
71$1,250,016$278,518$111,374$641,717
72$1,296,050$210,697$33,637$611,549
73$1,344,213$136,987$0$578,360
74$1,394,642$57,018$0$552,499
75$1,447,484$0$0$531,603
76$1,502,899$0$0$523,013
77$1,561,062$0$0$543,661
78$1,622,160$0$0$565,386
79$1,686,399$0$0$588,264
80$1,754,003$0$0$612,380
81$1,825,212$0$0$637,825
82$1,900,293$0$0$664,700
83$1,979,533$0$0$693,113
84$2,063,246$0$0$723,184
85$2,151,773$0$0$755,042
86$2,245,491$0$0$788,829
87$2,344,805$0$0$824,701
88$2,450,164$0$0$862,828
89$2,562,054$0$0$903,394
90$2,681,009$0$0$946,605
91$2,807,613$0$0$992,681
92$2,942,504$0$0$1,041,866
93$3,086,382$0$0$1,094,429
94$3,240,014$0$0$1,150,661
95$3,404,239$0$0$1,210,884
96$3,579,978$0$0$1,275,449
97$3,768,240$0$0$1,344,743
98$3,970,133$0$0$1,419,190
99$4,186,871$0$0$1,499,255
100$4,419,788$0$0$1,585,449