Can I retire at age 58 with 734,000?

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 $734,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$60,613$60,073$59,546$59,032$58,530$56,634
2 years$30,006$29,448$28,906$28,381$27,872$25,979
3 years$19,806$19,244$18,704$18,184$17,683$15,853
4 years$14,706$14,147$13,612$13,100$12,612$10,859
5 years$11,647$11,091$10,563$10,062$9,587$7,916
6 years$9,609$9,057$8,537$8,047$7,586$5,998
7 years$8,153$7,606$7,094$6,616$6,169$4,664
8 years$7,062$6,520$6,016$5,550$5,118$3,695
9 years$6,214$5,676$5,182$4,727$4,310$2,967
10 years$5,536$5,004$4,518$4,075$3,672$2,408
11 years$4,981$4,454$3,977$3,546$3,158$1,970
12 years$4,519$3,998$3,530$3,111$2,737$1,621
13 years$4,129$3,613$3,154$2,746$2,387$1,341
14 years$3,794$3,284$2,834$2,438$2,092$1,114
15 years$3,505$3,000$2,558$2,174$1,842$929
16 years$3,252$2,753$2,319$1,947$1,628$776
17 years$3,029$2,535$2,111$1,749$1,444$650
18 years$2,831$2,342$1,927$1,576$1,284$546
19 years$2,654$2,171$1,764$1,424$1,144$459
20 years$2,495$2,017$1,619$1,290$1,022$386
21 years$2,351$1,879$1,489$1,171$914$325
22 years$2,220$1,754$1,372$1,064$820$274
23 years$2,101$1,641$1,267$969$736$232
24 years$1,992$1,537$1,172$884$661$196
25 years$1,892$1,442$1,085$807$595$165
26 years$1,800$1,356$1,007$738$536$140
27 years$1,715$1,276$935$676$483$118
28 years$1,636$1,202$869$619$436$100
29 years$1,563$1,134$809$568$394$85
30 years$1,494$1,071$753$521$356$72
31 years$1,430$1,013$702$479$322$61
32 years$1,370$958$655$440$291$51
33 years$1,314$907$612$404$263$43
34 years$1,262$860$572$372$238$37
35 years$1,212$816$534$343$216$31
36 years$1,166$774$500$316$196$26
37 years$1,122$735$468$291$177$22
38 years$1,080$699$438$268$161$19
39 years$1,041$664$410$247$146$16
40 years$1,003$632$385$228$132$14
41 years$968$602$361$210$120$12
42 years$934$573$338$194$109$10
43 years$903$546$318$179$99$8
44 years$872$521$298$165$90$7
45 years$843$496$280$153$81$6
46 years$815$473$263$141$74$5
47 years$789$452$247$130$67$4
48 years$764$431$232$120$61$4
49 years$740$412$218$111$55$3
50 years$717$393$205$103$50$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $734,000, adding $2,728 every year, while hoping to spend $38,729 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: 56/25/19 Blend
57$734,000$734,000$734,000$734,000
58$811,682$772,780$761,403$852,866
59$853,266$769,439$745,703$877,904
60$897,794$764,636$728,178$900,780
61$945,525$758,259$708,728$924,845
62$996,743$750,188$687,245$950,223
63$1,051,760$740,297$663,618$977,050
64$1,110,920$728,452$637,729$1,005,480
65$1,174,599$714,511$609,458$1,035,685
66$1,243,210$698,324$578,676$1,067,854
67$1,317,205$679,730$545,250$1,102,201
68$1,397,085$658,562$509,041$1,138,961
69$1,483,397$634,640$469,903$1,178,396
70$1,576,742$607,776$427,684$1,220,800
71$1,677,783$577,771$382,224$1,266,497
72$1,787,247$544,411$333,358$1,315,848
73$1,905,933$507,475$280,913$1,369,254
74$2,034,722$466,724$224,707$1,427,160
75$2,174,580$421,910$164,552$1,490,061
76$2,326,572$372,769$100,249$1,558,505
77$2,491,868$319,020$31,592$1,633,102
78$2,671,755$260,368$0$1,714,526
79$2,867,651$196,503$0$1,811,975
80$3,081,115$127,095$0$1,925,214
81$3,313,862$51,797$0$2,048,800
82$3,567,782$0$0$2,183,801
83$3,844,952$0$0$2,339,585
84$4,147,661$0$0$2,525,346
85$4,478,429$0$0$2,728,390
86$4,840,027$0$0$2,950,427
87$5,235,509$0$0$3,193,338
88$5,668,237$0$0$3,459,199
89$6,141,913$0$0$3,750,292
90$6,660,613$0$0$4,069,132
91$7,228,824$0$0$4,418,487
92$7,851,492$0$0$4,801,407
93$8,534,059$0$0$5,221,250
94$9,282,523$0$0$5,681,715
95$10,103,486$0$0$6,186,876
96$11,004,223$0$0$6,741,221
97$11,992,746$0$0$7,349,693
98$13,077,881$0$0$8,017,736
99$14,269,348$0$0$8,751,348
100$15,577,856$0$0$9,557,137