Can I retire at age 58 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$59,705$59,173$58,654$58,148$57,653$56,032
2 years$29,557$29,006$28,473$27,956$27,454$25,833
3 years$19,509$18,956$18,424$17,911$17,418$15,848
4 years$14,486$13,935$13,408$12,904$12,423$10,916
5 years$11,473$10,925$10,405$9,912$9,443$8,004
6 years$9,465$8,921$8,409$7,926$7,472$6,101
7 years$8,031$7,492$6,988$6,517$6,077$4,775
8 years$6,956$6,422$5,926$5,467$5,041$3,807
9 years$6,121$5,591$5,104$4,656$4,246$3,078
10 years$5,453$4,929$4,450$4,014$3,617$2,515
11 years$4,906$4,388$3,918$3,493$3,111$2,071
12 years$4,452$3,938$3,477$3,064$2,696$1,718
13 years$4,067$3,559$3,106$2,705$2,351$1,432
14 years$3,738$3,235$2,791$2,401$2,061$1,199
15 years$3,452$2,955$2,520$2,142$1,815$1,007
16 years$3,203$2,711$2,285$1,918$1,604$848
17 years$2,983$2,497$2,079$1,723$1,422$716
18 years$2,788$2,307$1,898$1,553$1,264$606
19 years$2,614$2,138$1,737$1,403$1,127$514
20 years$2,457$1,987$1,594$1,271$1,007$436
21 years$2,316$1,851$1,467$1,153$901$371
22 years$2,187$1,728$1,352$1,049$807$315
23 years$2,070$1,616$1,248$955$725$268
24 years$1,963$1,514$1,154$871$651$229
25 years$1,864$1,421$1,069$795$586$195
26 years$1,773$1,335$992$727$528$166
27 years$1,689$1,257$921$666$476$142
28 years$1,611$1,184$856$610$430$121
29 years$1,539$1,117$796$559$388$103
30 years$1,472$1,055$742$513$350$88
31 years$1,409$997$692$471$317$75
32 years$1,350$944$645$433$287$64
33 years$1,295$894$603$398$259$55
34 years$1,243$847$563$367$235$47
35 years$1,194$803$526$337$213$40
36 years$1,148$763$492$311$193$34
37 years$1,105$724$461$286$175$29
38 years$1,064$688$432$264$158$25
39 years$1,025$655$404$243$144$22
40 years$988$623$379$224$130$18
41 years$954$593$355$207$118$16
42 years$920$565$333$191$107$13
43 years$889$538$313$176$97$12
44 years$859$513$294$163$88$10
45 years$830$489$276$150$80$8
46 years$803$466$259$139$73$7
47 years$777$445$243$128$66$6
48 years$752$425$229$119$60$5
49 years$729$406$215$110$55$5
50 years$706$388$202$101$50$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $723,000, adding $5,147 every year, while hoping to spend $58,152 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: 58/36/6 Blend
57$723,000$723,000$723,000$723,000
58$802,055$763,736$752,530$847,305
59$821,991$739,286$715,866$853,835
60$842,012$711,689$676,025$853,893
61$862,065$680,729$632,839$852,498
62$882,089$646,178$586,133$849,517
63$902,017$607,795$535,723$844,801
64$921,771$565,325$481,418$838,195
65$941,263$518,498$423,018$829,528
66$960,397$467,029$360,313$818,618
67$979,060$410,617$293,087$805,265
68$997,129$348,942$221,110$789,257
69$1,014,465$281,669$144,146$770,363
70$1,030,911$208,441$61,946$748,333
71$1,046,294$128,885$0$722,899
72$1,060,417$42,602$0$695,420
73$1,073,065$0$0$668,271
74$1,083,994$0$0$657,294
75$1,092,933$0$0$661,888
76$1,099,584$0$0$664,984
77$1,103,611$0$0$666,366
78$1,104,642$0$0$665,796
79$1,102,265$0$0$663,009
80$1,096,022$0$0$657,711
81$1,085,404$0$0$649,575
82$1,069,846$0$0$638,240
83$1,048,724$0$0$623,305
84$1,021,346$0$0$604,325
85$986,942$0$0$580,808
86$944,664$0$0$552,211
87$893,571$0$0$517,929
88$832,621$0$0$477,297
89$760,664$0$0$429,576
90$676,426$0$0$373,951
91$578,497$0$0$309,519
92$465,322$0$0$235,285
93$335,179$0$0$150,146
94$186,167$0$0$52,884
95$16,185$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0