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%17.9%
1 years$61,109$60,564$60,033$59,515$59,009$57,120
2 years$30,252$29,688$29,142$28,613$28,099$26,214
3 years$19,967$19,402$18,857$18,333$17,827$16,004
4 years$14,826$14,262$13,723$13,208$12,715$10,968
5 years$11,743$11,182$10,650$10,145$9,665$8,000
6 years$9,687$9,131$8,607$8,113$7,648$6,065
7 years$8,220$7,668$7,152$6,670$6,220$4,719
8 years$7,120$6,573$6,066$5,595$5,160$3,740
9 years$6,265$5,723$5,224$4,766$4,345$3,006
10 years$5,581$5,044$4,555$4,108$3,703$2,440
11 years$5,022$4,491$4,010$3,575$3,184$1,998
12 years$4,556$4,031$3,559$3,136$2,759$1,645
13 years$4,163$3,643$3,179$2,769$2,406$1,362
14 years$3,826$3,311$2,857$2,458$2,109$1,133
15 years$3,534$3,025$2,579$2,192$1,857$945
16 years$3,278$2,775$2,338$1,963$1,641$790
17 years$3,054$2,556$2,128$1,763$1,455$662
18 years$2,854$2,362$1,942$1,589$1,294$556
19 years$2,675$2,189$1,778$1,436$1,153$468
20 years$2,515$2,034$1,632$1,301$1,030$394
21 years$2,370$1,894$1,501$1,180$922$332
22 years$2,238$1,768$1,383$1,073$826$281
23 years$2,119$1,654$1,277$977$742$237
24 years$2,009$1,550$1,181$891$667$200
25 years$1,908$1,454$1,094$814$600$169
26 years$1,815$1,367$1,015$744$540$143
27 years$1,729$1,286$942$681$487$121
28 years$1,649$1,212$876$624$440$103
29 years$1,575$1,143$815$572$397$87
30 years$1,506$1,080$759$525$359$74
31 years$1,442$1,021$708$483$324$62
32 years$1,382$966$661$443$293$53
33 years$1,325$915$617$408$266$45
34 years$1,272$867$576$375$240$38
35 years$1,222$822$539$345$218$32
36 years$1,175$780$504$318$197$27
37 years$1,131$741$472$293$179$23
38 years$1,089$704$442$270$162$20
39 years$1,049$670$414$249$147$17
40 years$1,012$637$388$230$133$14
41 years$976$607$364$212$121$12
42 years$942$578$341$196$110$10
43 years$910$551$320$181$100$9
44 years$879$525$301$167$90$7
45 years$850$500$282$154$82$6
46 years$822$477$265$142$75$5
47 years$796$456$249$131$68$4
48 years$770$435$234$121$61$4
49 years$746$415$220$112$56$3
50 years$722$397$207$104$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $740,000, adding $4,200 every year, while hoping to spend $24,515 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: 70/10/20 Blend
57$740,000$740,000$740,000$740,000
58$819,812$780,592$769,122$872,905
59$877,349$792,758$768,804$921,024
60$939,934$804,697$767,654$970,385
61$1,008,054$816,375$765,617$1,023,807
62$1,082,248$827,750$762,638$1,081,691
63$1,163,109$838,781$758,658$1,144,476
64$1,251,287$849,422$753,614$1,212,647
65$1,347,499$859,625$747,441$1,286,740
66$1,452,536$869,338$740,072$1,367,343
67$1,567,266$878,507$731,436$1,455,107
68$1,692,645$887,072$721,457$1,550,747
69$1,829,726$894,970$710,057$1,655,054
70$1,979,670$902,135$697,155$1,768,898
71$2,143,752$908,495$682,666$1,893,239
72$2,323,378$913,975$666,499$2,029,135
73$2,520,096$918,493$648,560$2,177,752
74$2,735,612$921,965$628,752$2,340,375
75$2,971,801$924,298$606,973$2,518,424
76$3,230,733$925,397$583,114$2,713,459
77$3,514,683$925,157$557,064$2,927,204
78$3,826,160$923,469$528,705$3,161,558
79$4,167,927$920,218$497,915$3,418,615
80$4,543,026$915,279$464,566$3,700,682
81$4,954,810$908,522$428,524$4,010,304
82$5,406,970$899,809$389,649$4,350,285
83$5,903,573$888,992$347,794$4,723,718
84$6,449,100$875,916$302,808$5,134,011
85$7,048,488$860,415$254,531$5,584,921
86$7,707,172$842,313$202,797$6,080,591
87$8,431,144$821,427$147,431$6,625,585
88$9,227,003$797,559$88,252$7,224,937
89$10,102,019$770,502$25,071$7,884,195
90$11,064,205$740,036$0$8,609,474
91$12,122,384$705,928$0$9,416,554
92$13,286,281$667,932$0$10,310,124
93$14,566,608$625,788$0$11,293,065
94$15,975,171$579,220$0$12,374,454
95$17,524,974$527,938$0$13,564,291
96$19,230,348$471,634$0$14,873,600
97$21,107,082$409,982$0$16,314,525
98$23,172,572$342,639$0$17,900,450
99$25,445,988$269,242$0$19,646,123
100$27,948,452$189,408$0$21,567,797