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%18.2%
1 years$59,622$59,091$58,573$58,067$57,573$55,664
2 years$29,516$28,966$28,433$27,917$27,416$25,510
3 years$19,482$18,930$18,398$17,887$17,394$15,552
4 years$14,466$13,915$13,389$12,886$12,405$10,642
5 years$11,457$10,910$10,391$9,898$9,430$7,750
6 years$9,452$8,909$8,397$7,915$7,462$5,866
7 years$8,020$7,481$6,978$6,508$6,069$4,556
8 years$6,947$6,413$5,918$5,459$5,034$3,605
9 years$6,112$5,584$5,097$4,650$4,240$2,892
10 years$5,445$4,922$4,444$4,008$3,612$2,343
11 years$4,900$4,382$3,912$3,488$3,107$1,914
12 years$4,445$3,933$3,472$3,060$2,692$1,574
13 years$4,061$3,554$3,102$2,701$2,348$1,300
14 years$3,732$3,230$2,787$2,398$2,058$1,079
15 years$3,448$2,951$2,516$2,139$1,812$898
16 years$3,199$2,708$2,282$1,915$1,601$749
17 years$2,979$2,494$2,076$1,720$1,420$627
18 years$2,784$2,304$1,895$1,551$1,263$525
19 years$2,610$2,135$1,735$1,401$1,125$441
20 years$2,454$1,984$1,592$1,269$1,005$371
21 years$2,312$1,848$1,465$1,152$900$312
22 years$2,184$1,725$1,350$1,047$806$263
23 years$2,067$1,614$1,246$954$724$221
24 years$1,960$1,512$1,153$870$651$187
25 years$1,861$1,419$1,068$794$585$157
26 years$1,771$1,334$990$726$527$133
27 years$1,687$1,255$919$665$475$112
28 years$1,609$1,183$855$609$429$95
29 years$1,537$1,116$795$559$387$80
30 years$1,470$1,054$741$513$350$68
31 years$1,407$996$691$471$316$57
32 years$1,348$942$644$433$286$48
33 years$1,293$892$602$398$259$41
34 years$1,241$846$562$366$235$35
35 years$1,193$802$526$337$212$29
36 years$1,147$761$492$310$192$25
37 years$1,103$723$460$286$174$21
38 years$1,062$687$431$264$158$18
39 years$1,024$654$404$243$143$15
40 years$987$622$378$224$130$13
41 years$952$592$355$207$118$11
42 years$919$564$333$191$107$9
43 years$888$537$312$176$97$8
44 years$858$512$293$163$88$6
45 years$829$488$275$150$80$5
46 years$802$466$259$139$73$5
47 years$776$444$243$128$66$4
48 years$751$424$228$118$60$3
49 years$728$405$215$109$54$3
50 years$705$387$202$101$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $722,000, adding $2,215 every year, while hoping to spend $44,608 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: 73/6/21 Blend
57$722,000$722,000$722,000$722,000
58$797,929$759,663$748,472$851,967
59$831,855$749,424$726,083$877,956
60$867,747$737,188$701,449$900,839
61$905,757$722,810$674,448$924,782
62$946,054$706,137$644,951$949,882
63$988,820$687,007$612,826$976,247
64$1,034,255$665,246$577,932$1,003,999
65$1,082,579$640,673$540,122$1,033,268
66$1,134,032$613,096$499,246$1,064,205
67$1,188,875$582,309$455,142$1,096,971
68$1,247,396$548,098$407,645$1,131,749
69$1,309,910$510,234$356,581$1,168,739
70$1,376,761$468,476$301,767$1,208,166
71$1,448,328$422,569$243,014$1,250,275
72$1,525,026$372,243$180,123$1,295,342
73$1,607,310$317,214$112,888$1,343,669
74$1,695,678$257,181$41,093$1,395,592
75$1,790,680$191,825$0$1,451,484
76$1,892,916$120,811$0$1,519,716
77$2,003,047$43,784$0$1,603,128
78$2,121,798$0$0$1,693,062
79$2,249,967$0$0$1,792,752
80$2,388,430$0$0$1,903,595
81$2,538,148$0$0$2,023,477
82$2,700,179$0$0$2,153,246
83$2,875,686$0$0$2,293,838
84$3,065,948$0$0$2,446,281
85$3,272,371$0$0$2,611,705
86$3,496,499$0$0$2,791,352
87$3,740,035$0$0$2,986,592
88$4,004,849$0$0$3,198,927
89$4,292,999$0$0$3,430,013
90$4,606,748$0$0$3,681,671
91$4,948,591$0$0$3,955,905
92$5,321,267$0$0$4,254,920
93$5,727,796$0$0$4,581,143
94$6,171,500$0$0$4,937,245
95$6,656,034$0$0$5,326,168
96$7,185,425$0$0$5,751,149
97$7,764,104$0$0$6,215,752
98$8,396,949$0$0$6,723,901
99$9,089,334$0$0$7,279,916
100$9,847,172$0$0$7,888,556