Can I retire at age 58 with 740,000?

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 $740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$61,109$60,564$60,033$59,515$59,009$57,912
2 years$30,252$29,688$29,142$28,613$28,099$26,999
3 years$19,967$19,402$18,857$18,333$17,827$16,757
4 years$14,826$14,262$13,723$13,208$12,715$11,683
5 years$11,743$11,182$10,650$10,145$9,665$8,675
6 years$9,687$9,131$8,607$8,113$7,648$6,700
7 years$8,220$7,668$7,152$6,670$6,220$5,314
8 years$7,120$6,573$6,066$5,595$5,160$4,297
9 years$6,265$5,723$5,224$4,766$4,345$3,524
10 years$5,581$5,044$4,555$4,108$3,703$2,923
11 years$5,022$4,491$4,010$3,575$3,184$2,445
12 years$4,556$4,031$3,559$3,136$2,759$2,059
13 years$4,163$3,643$3,179$2,769$2,406$1,744
14 years$3,826$3,311$2,857$2,458$2,109$1,484
15 years$3,534$3,025$2,579$2,192$1,857$1,268
16 years$3,278$2,775$2,338$1,963$1,641$1,087
17 years$3,054$2,556$2,128$1,763$1,455$934
18 years$2,854$2,362$1,942$1,589$1,294$804
19 years$2,675$2,189$1,778$1,436$1,153$694
20 years$2,515$2,034$1,632$1,301$1,030$600
21 years$2,370$1,894$1,501$1,180$922$519
22 years$2,238$1,768$1,383$1,073$826$450
23 years$2,119$1,654$1,277$977$742$390
24 years$2,009$1,550$1,181$891$667$339
25 years$1,908$1,454$1,094$814$600$294
26 years$1,815$1,367$1,015$744$540$256
27 years$1,729$1,286$942$681$487$223
28 years$1,649$1,212$876$624$440$194
29 years$1,575$1,143$815$572$397$169
30 years$1,506$1,080$759$525$359$147
31 years$1,442$1,021$708$483$324$128
32 years$1,382$966$661$443$293$112
33 years$1,325$915$617$408$266$97
34 years$1,272$867$576$375$240$85
35 years$1,222$822$539$345$218$74
36 years$1,175$780$504$318$197$65
37 years$1,131$741$472$293$179$56
38 years$1,089$704$442$270$162$49
39 years$1,049$670$414$249$147$43
40 years$1,012$637$388$230$133$37
41 years$976$607$364$212$121$33
42 years$942$578$341$196$110$29
43 years$910$551$320$181$100$25
44 years$879$525$301$167$90$22
45 years$850$500$282$154$82$19
46 years$822$477$265$142$75$17
47 years$796$456$249$131$68$14
48 years$770$435$234$121$61$13
49 years$746$415$220$112$56$11
50 years$722$397$207$104$51$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $740,000, adding $5,775 every year, while hoping to spend $55,496 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: 80/6/14 Blend
57$740,000$740,000$740,000$740,000
58$821,437$782,217$770,747$884,399
59$846,176$761,498$737,520$905,898
60$871,579$737,904$701,319$921,736
61$897,654$711,236$661,988$937,526
62$924,410$681,281$619,359$953,237
63$951,853$647,818$573,261$968,837
64$979,990$610,609$523,514$984,291
65$1,008,826$569,405$469,928$999,559
66$1,038,362$523,942$412,306$1,014,599
67$1,068,599$473,939$350,443$1,029,365
68$1,099,537$419,103$284,124$1,043,805
69$1,131,172$359,122$213,124$1,057,866
70$1,163,497$293,664$137,209$1,071,486
71$1,196,504$222,384$56,135$1,084,601
72$1,230,178$144,911$0$1,097,139
73$1,264,504$60,859$0$1,113,561
74$1,299,459$0$0$1,138,489
75$1,335,018$0$0$1,165,469
76$1,371,149$0$0$1,196,960
77$1,407,814$0$0$1,228,911
78$1,444,969$0$0$1,261,281
79$1,482,560$0$0$1,294,025
80$1,520,527$0$0$1,327,087
81$1,558,799$0$0$1,360,405
82$1,597,295$0$0$1,393,908
83$1,635,922$0$0$1,427,512
84$1,674,573$0$0$1,461,123
85$1,713,128$0$0$1,494,635
86$1,751,450$0$0$1,527,926
87$1,789,383$0$0$1,560,860
88$1,826,753$0$0$1,593,280
89$1,863,363$0$0$1,625,014
90$1,898,991$0$0$1,655,865
91$1,933,388$0$0$1,685,614
92$1,966,276$0$0$1,714,013
93$1,997,342$0$0$1,740,789
94$2,026,238$0$0$1,765,631
95$2,052,574$0$0$1,788,197
96$2,075,916$0$0$1,808,102
97$2,095,779$0$0$1,824,920
98$2,111,623$0$0$1,838,173
99$2,122,849$0$0$1,847,331
100$2,128,789$0$0$1,851,807