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%16.1%
1 years$59,622$59,091$58,573$58,067$57,573$56,136
2 years$29,516$28,966$28,433$27,917$27,416$25,977
3 years$19,482$18,930$18,398$17,887$17,394$15,998
4 years$14,466$13,915$13,389$12,886$12,405$11,064
5 years$11,457$10,910$10,391$9,898$9,430$8,147
6 years$9,452$8,909$8,397$7,915$7,462$6,237
7 years$8,020$7,481$6,978$6,508$6,069$4,903
8 years$6,947$6,413$5,918$5,459$5,034$3,928
9 years$6,112$5,584$5,097$4,650$4,240$3,191
10 years$5,445$4,922$4,444$4,008$3,612$2,620
11 years$4,900$4,382$3,912$3,488$3,107$2,169
12 years$4,445$3,933$3,472$3,060$2,692$1,808
13 years$4,061$3,554$3,102$2,701$2,348$1,516
14 years$3,732$3,230$2,787$2,398$2,058$1,276
15 years$3,448$2,951$2,516$2,139$1,812$1,078
16 years$3,199$2,708$2,282$1,915$1,601$913
17 years$2,979$2,494$2,076$1,720$1,420$776
18 years$2,784$2,304$1,895$1,551$1,263$660
19 years$2,610$2,135$1,735$1,401$1,125$563
20 years$2,454$1,984$1,592$1,269$1,005$481
21 years$2,312$1,848$1,465$1,152$900$411
22 years$2,184$1,725$1,350$1,047$806$352
23 years$2,067$1,614$1,246$954$724$301
24 years$1,960$1,512$1,153$870$651$258
25 years$1,861$1,419$1,068$794$585$222
26 years$1,771$1,334$990$726$527$190
27 years$1,687$1,255$919$665$475$163
28 years$1,609$1,183$855$609$429$140
29 years$1,537$1,116$795$559$387$121
30 years$1,470$1,054$741$513$350$104
31 years$1,407$996$691$471$316$89
32 years$1,348$942$644$433$286$77
33 years$1,293$892$602$398$259$66
34 years$1,241$846$562$366$235$57
35 years$1,193$802$526$337$212$49
36 years$1,147$761$492$310$192$42
37 years$1,103$723$460$286$174$36
38 years$1,062$687$431$264$158$31
39 years$1,024$654$404$243$143$27
40 years$987$622$378$224$130$23
41 years$952$592$355$207$118$20
42 years$919$564$333$191$107$17
43 years$888$537$312$176$97$15
44 years$858$512$293$163$88$13
45 years$829$488$275$150$80$11
46 years$802$466$259$139$73$9
47 years$776$444$243$128$66$8
48 years$751$424$228$118$60$7
49 years$728$405$215$109$54$6
50 years$705$387$202$101$49$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $722,000, adding $3,433 every year, while hoping to spend $52,205 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: 49/28/23 Blend
57$722,000$722,000$722,000$722,000
58$799,185$760,919$749,728$833,002
59$825,156$742,658$719,298$838,649
60$852,027$721,753$686,099$839,251
61$879,833$698,019$649,984$838,839
62$908,615$671,260$610,796$837,338
63$938,411$641,270$568,376$834,673
64$969,266$607,829$522,553$830,761
65$1,001,225$570,706$473,153$825,518
66$1,034,336$529,657$419,990$818,853
67$1,068,651$484,423$362,872$810,674
68$1,104,223$434,730$301,598$800,882
69$1,141,111$380,288$235,958$789,372
70$1,179,375$320,793$165,734$776,037
71$1,219,082$255,922$90,696$760,763
72$1,260,299$185,334$10,606$743,430
73$1,303,103$108,668$0$723,913
74$1,347,571$25,545$0$720,455
75$1,393,789$0$0$718,519
76$1,441,847$0$0$735,277
77$1,491,843$0$0$760,910
78$1,543,880$0$0$787,603
79$1,598,072$0$0$815,414
80$1,654,537$0$0$844,407
81$1,713,406$0$0$874,652
82$1,774,818$0$0$906,220
83$1,838,923$0$0$939,193
84$1,905,884$0$0$973,656
85$1,975,875$0$0$1,009,703
86$2,049,087$0$0$1,047,433
87$2,125,724$0$0$1,086,956
88$2,206,008$0$0$1,128,389
89$2,290,181$0$0$1,171,862
90$2,378,502$0$0$1,217,513
91$2,471,256$0$0$1,265,493
92$2,568,751$0$0$1,315,967
93$2,671,320$0$0$1,369,113
94$2,779,330$0$0$1,425,125
95$2,893,176$0$0$1,484,217
96$3,013,290$0$0$1,546,618
97$3,140,144$0$0$1,612,581
98$3,274,251$0$0$1,682,380
99$3,416,173$0$0$1,756,317
100$3,566,520$0$0$1,834,719