Can I retire at age 58 with 724,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$59,787$59,255$58,735$58,228$57,733$57,490
2 years$29,598$29,046$28,512$27,994$27,492$27,246
3 years$19,536$18,982$18,449$17,936$17,442$17,202
4 years$14,506$13,954$13,426$12,922$12,440$12,207
5 years$11,489$10,940$10,419$9,925$9,456$9,231
6 years$9,478$8,933$8,420$7,937$7,483$7,265
7 years$8,042$7,502$6,997$6,526$6,085$5,876
8 years$6,966$6,431$5,934$5,474$5,048$4,848
9 years$6,129$5,599$5,111$4,663$4,251$4,059
10 years$5,460$4,935$4,456$4,019$3,622$3,438
11 years$4,913$4,394$3,923$3,498$3,115$2,939
12 years$4,458$3,944$3,482$3,068$2,700$2,531
13 years$4,073$3,564$3,111$2,709$2,354$2,193
14 years$3,743$3,239$2,795$2,405$2,064$1,910
15 years$3,457$2,959$2,523$2,145$1,817$1,671
16 years$3,208$2,715$2,288$1,920$1,606$1,467
17 years$2,988$2,500$2,082$1,725$1,424$1,292
18 years$2,792$2,311$1,900$1,555$1,266$1,141
19 years$2,618$2,141$1,740$1,405$1,128$1,010
20 years$2,461$1,990$1,597$1,272$1,008$895
21 years$2,319$1,853$1,469$1,155$902$796
22 years$2,190$1,730$1,354$1,050$809$708
23 years$2,073$1,618$1,250$956$726$631
24 years$1,965$1,516$1,156$872$652$563
25 years$1,867$1,423$1,071$796$587$502
26 years$1,776$1,337$993$728$529$449
27 years$1,692$1,258$922$667$477$402
28 years$1,614$1,186$857$611$430$360
29 years$1,541$1,119$798$560$388$322
30 years$1,474$1,057$743$514$351$289
31 years$1,411$999$693$472$317$259
32 years$1,352$945$646$434$287$232
33 years$1,297$895$603$399$260$209
34 years$1,245$848$564$367$235$187
35 years$1,196$805$527$338$213$168
36 years$1,150$764$493$311$193$151
37 years$1,106$725$462$287$175$136
38 years$1,065$689$432$264$159$122
39 years$1,027$655$405$244$144$110
40 years$990$624$380$225$130$99
41 years$955$594$356$207$118$89
42 years$922$565$334$191$107$80
43 years$890$539$313$177$97$72
44 years$860$513$294$163$88$65
45 years$832$490$276$151$80$58
46 years$804$467$259$139$73$52
47 years$778$446$244$129$66$47
48 years$753$425$229$119$60$42
49 years$730$406$215$110$55$38
50 years$707$388$202$101$50$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $724,000, adding $3,186 every year, while hoping to spend $52,225 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: 64/13/23 Blend
57$724,000$724,000$724,000$724,000
58$801,134$762,762$751,540$847,426
59$827,283$744,571$721,150$860,834
60$854,349$723,737$687,991$869,338
61$882,369$700,078$651,916$877,442
62$911,386$673,396$612,770$885,111
63$941,441$643,486$570,391$892,308
64$972,580$610,129$524,612$898,997
65$1,004,851$573,094$475,255$905,136
66$1,038,306$532,135$422,135$910,686
67$1,072,998$486,995$365,062$915,604
68$1,108,986$437,400$303,834$919,846
69$1,146,331$383,060$238,240$923,366
70$1,185,097$323,671$168,062$926,116
71$1,225,356$258,910$93,071$928,048
72$1,267,182$188,436$13,029$929,112
73$1,310,655$111,890$0$929,255
74$1,355,860$28,890$0$946,189
75$1,402,888$0$0$966,663
76$1,451,838$0$0$996,206
77$1,502,816$0$0$1,031,286
78$1,555,935$0$0$1,067,848
79$1,611,316$0$0$1,105,977
80$1,669,091$0$0$1,145,766
81$1,729,402$0$0$1,187,313
82$1,792,402$0$0$1,230,725
83$1,858,256$0$0$1,276,117
84$1,927,143$0$0$1,323,616
85$1,999,255$0$0$1,373,355
86$2,074,803$0$0$1,425,482
87$2,154,012$0$0$1,480,155
88$2,237,129$0$0$1,537,546
89$2,324,422$0$0$1,597,844
90$2,416,180$0$0$1,661,251
91$2,512,720$0$0$1,727,990
92$2,614,385$0$0$1,798,300
93$2,721,548$0$0$1,872,445
94$2,834,618$0$0$1,950,710
95$2,954,039$0$0$2,033,407
96$3,080,294$0$0$2,120,877
97$3,213,913$0$0$2,213,491
98$3,355,473$0$0$2,311,654
99$3,505,606$0$0$2,415,810
100$3,664,999$0$0$2,526,444