Can I retire at age 58 with 740,000?

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 $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%13.9%
1 years$61,109$60,564$60,033$59,515$59,009$58,055
2 years$30,252$29,688$29,142$28,613$28,099$27,141
3 years$19,967$19,402$18,857$18,333$17,827$16,895
4 years$14,826$14,262$13,723$13,208$12,715$11,814
5 years$11,743$11,182$10,650$10,145$9,665$8,800
6 years$9,687$9,131$8,607$8,113$7,648$6,819
7 years$8,220$7,668$7,152$6,670$6,220$5,427
8 years$7,120$6,573$6,066$5,595$5,160$4,403
9 years$6,265$5,723$5,224$4,766$4,345$3,625
10 years$5,581$5,044$4,555$4,108$3,703$3,017
11 years$5,022$4,491$4,010$3,575$3,184$2,533
12 years$4,556$4,031$3,559$3,136$2,759$2,142
13 years$4,163$3,643$3,179$2,769$2,406$1,822
14 years$3,826$3,311$2,857$2,458$2,109$1,556
15 years$3,534$3,025$2,579$2,192$1,857$1,335
16 years$3,278$2,775$2,338$1,963$1,641$1,149
17 years$3,054$2,556$2,128$1,763$1,455$991
18 years$2,854$2,362$1,942$1,589$1,294$858
19 years$2,675$2,189$1,778$1,436$1,153$743
20 years$2,515$2,034$1,632$1,301$1,030$645
21 years$2,370$1,894$1,501$1,180$922$561
22 years$2,238$1,768$1,383$1,073$826$488
23 years$2,119$1,654$1,277$977$742$426
24 years$2,009$1,550$1,181$891$667$371
25 years$1,908$1,454$1,094$814$600$324
26 years$1,815$1,367$1,015$744$540$283
27 years$1,729$1,286$942$681$487$248
28 years$1,649$1,212$876$624$440$217
29 years$1,575$1,143$815$572$397$190
30 years$1,506$1,080$759$525$359$166
31 years$1,442$1,021$708$483$324$145
32 years$1,382$966$661$443$293$127
33 years$1,325$915$617$408$266$112
34 years$1,272$867$576$375$240$98
35 years$1,222$822$539$345$218$86
36 years$1,175$780$504$318$197$75
37 years$1,131$741$472$293$179$66
38 years$1,089$704$442$270$162$58
39 years$1,049$670$414$249$147$51
40 years$1,012$637$388$230$133$44
41 years$976$607$364$212$121$39
42 years$942$578$341$196$110$34
43 years$910$551$320$181$100$30
44 years$879$525$301$167$90$26
45 years$850$500$282$154$82$23
46 years$822$477$265$142$75$20
47 years$796$456$249$131$68$18
48 years$770$435$234$121$61$16
49 years$746$415$220$112$56$14
50 years$722$397$207$104$51$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $740,000, adding $2,543 every year, while hoping to spend $47,642 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: 35/49/16 Blend
57$740,000$740,000$740,000$740,000
58$818,103$778,883$767,413$842,625
59$850,859$766,358$742,431$848,159
60$885,359$751,622$715,015$849,461
61$921,731$734,517$685,033$849,847
62$960,114$714,874$652,348$849,261
63$1,000,660$692,517$616,816$847,646
64$1,043,534$667,257$578,286$844,945
65$1,088,916$638,895$536,600$841,098
66$1,137,004$607,219$491,595$836,047
67$1,188,013$572,007$443,098$829,732
68$1,242,178$533,024$390,930$822,092
69$1,299,758$490,019$334,903$813,069
70$1,361,033$442,730$274,822$802,602
71$1,426,312$390,878$210,483$790,635
72$1,495,933$334,168$141,671$777,110
73$1,570,266$272,290$68,165$761,975
74$1,649,716$204,915$0$745,178
75$1,734,727$131,696$0$728,427
76$1,825,787$52,266$0$722,458
77$1,923,429$0$0$715,629
78$2,028,240$0$0$726,158
79$2,140,864$0$0$767,829
80$2,262,006$0$0$812,730
81$2,392,442$0$0$861,158
82$2,533,023$0$0$913,439
83$2,684,686$0$0$969,934
84$2,848,456$0$0$1,031,035
85$3,025,464$0$0$1,097,177
86$3,216,950$0$0$1,168,836
87$3,424,279$0$0$1,246,537
88$3,648,950$0$0$1,330,855
89$3,892,613$0$0$1,422,425
90$4,157,080$0$0$1,521,943
91$4,444,347$0$0$1,630,176
92$4,756,608$0$0$1,747,969
93$5,096,275$0$0$1,876,249
94$5,466,005$0$0$2,016,038
95$5,868,720$0$0$2,168,461
96$6,307,635$0$0$2,334,754
97$6,786,289$0$0$2,516,281
98$7,308,577$0$0$2,714,540
99$7,878,785$0$0$2,931,182
100$8,501,635$0$0$3,168,023