Can I retire at age 58 with 724,000?

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 $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%13%
1 years$59,787$59,255$58,735$58,228$57,733$57,011
2 years$29,598$29,046$28,512$27,994$27,492$26,766
3 years$19,536$18,982$18,449$17,936$17,442$16,734
4 years$14,506$13,954$13,426$12,922$12,440$11,755
5 years$11,489$10,940$10,419$9,925$9,456$8,798
6 years$9,478$8,933$8,420$7,937$7,483$6,850
7 years$8,042$7,502$6,997$6,526$6,085$5,479
8 years$6,966$6,431$5,934$5,474$5,048$4,469
9 years$6,129$5,599$5,111$4,663$4,251$3,698
10 years$5,460$4,935$4,456$4,019$3,622$3,095
11 years$4,913$4,394$3,923$3,498$3,115$2,613
12 years$4,458$3,944$3,482$3,068$2,700$2,223
13 years$4,073$3,564$3,111$2,709$2,354$1,901
14 years$3,743$3,239$2,795$2,405$2,064$1,634
15 years$3,457$2,959$2,523$2,145$1,817$1,411
16 years$3,208$2,715$2,288$1,920$1,606$1,222
17 years$2,988$2,500$2,082$1,725$1,424$1,061
18 years$2,792$2,311$1,900$1,555$1,266$924
19 years$2,618$2,141$1,740$1,405$1,128$806
20 years$2,461$1,990$1,597$1,272$1,008$704
21 years$2,319$1,853$1,469$1,155$902$617
22 years$2,190$1,730$1,354$1,050$809$540
23 years$2,073$1,618$1,250$956$726$474
24 years$1,965$1,516$1,156$872$652$417
25 years$1,867$1,423$1,071$796$587$366
26 years$1,776$1,337$993$728$529$322
27 years$1,692$1,258$922$667$477$284
28 years$1,614$1,186$857$611$430$250
29 years$1,541$1,119$798$560$388$220
30 years$1,474$1,057$743$514$351$194
31 years$1,411$999$693$472$317$172
32 years$1,352$945$646$434$287$151
33 years$1,297$895$603$399$260$134
34 years$1,245$848$564$367$235$118
35 years$1,196$805$527$338$213$104
36 years$1,150$764$493$311$193$92
37 years$1,106$725$462$287$175$81
38 years$1,065$689$432$264$159$72
39 years$1,027$655$405$244$144$64
40 years$990$624$380$225$130$56
41 years$955$594$356$207$118$50
42 years$922$565$334$191$107$44
43 years$890$539$313$177$97$39
44 years$860$513$294$163$88$34
45 years$832$490$276$151$80$30
46 years$804$467$259$139$73$27
47 years$778$446$244$129$66$24
48 years$753$425$229$119$60$21
49 years$730$406$215$110$55$19
50 years$707$388$202$101$50$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $724,000, adding $5,364 every year, while hoping to spend $27,992 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: 43/48/9 Blend
57$724,000$724,000$724,000$724,000
58$803,381$765,009$753,787$835,611
59$855,543$772,711$749,256$866,272
60$912,086$779,853$743,634$896,204
61$973,430$786,376$736,857$927,995
62$1,040,033$792,221$728,854$961,824
63$1,112,399$797,323$719,554$997,892
64$1,191,084$801,613$708,880$1,036,420
65$1,276,700$805,017$696,752$1,077,653
66$1,369,919$807,458$683,089$1,121,864
67$1,471,481$808,853$667,802$1,169,352
68$1,582,199$809,114$650,801$1,220,452
69$1,702,970$808,148$631,989$1,275,532
70$1,834,781$805,855$611,269$1,335,000
71$1,978,717$802,130$588,534$1,399,308
72$2,135,973$796,861$563,677$1,468,956
73$2,307,865$789,930$536,583$1,544,497
74$2,495,842$781,212$507,134$1,626,545
75$2,701,498$770,572$475,203$1,715,775
76$2,926,591$757,869$440,662$1,812,937
77$3,173,053$742,955$403,375$1,918,860
78$3,443,015$725,671$363,199$2,034,459
79$3,738,822$705,848$319,985$2,160,749
80$4,063,057$683,310$273,580$2,298,849
81$4,418,565$657,867$223,820$2,449,997
82$4,808,478$629,322$170,538$2,615,563
83$5,236,247$597,464$113,555$2,797,059
84$5,705,674$562,070$52,689$2,996,158
85$6,220,946$522,904$0$3,214,706
86$6,786,674$479,718$0$3,455,924
87$7,407,939$432,248$0$3,726,366
88$8,090,337$380,217$0$4,023,478
89$8,840,033$323,329$0$4,350,033
90$9,663,820$261,276$0$4,709,093
91$10,569,179$193,728$0$5,104,040
92$11,564,354$120,339$0$5,538,604
93$12,658,426$40,744$0$6,016,903
94$13,861,401$0$0$6,543,486
95$15,184,301$0$0$7,147,373
96$16,639,271$0$0$7,835,318
97$18,239,693$0$0$8,592,139
98$20,000,309$0$0$9,424,820
99$21,937,363$0$0$10,341,058
100$24,068,753$0$0$11,349,332