Can I retire at age 58 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$61,191$60,646$60,114$59,595$59,088$58,520
2 years$30,293$29,728$29,182$28,652$28,137$27,565
3 years$19,994$19,428$18,882$18,357$17,851$17,292
4 years$14,846$14,282$13,742$13,225$12,732$12,191
5 years$11,758$11,197$10,664$10,158$9,679$9,157
6 years$9,700$9,143$8,618$8,124$7,658$7,157
7 years$8,231$7,678$7,162$6,679$6,228$5,747
8 years$7,129$6,582$6,074$5,603$5,167$4,706
9 years$6,273$5,731$5,231$4,772$4,351$3,911
10 years$5,588$5,051$4,561$4,114$3,708$3,287
11 years$5,029$4,497$4,015$3,580$3,189$2,787
12 years$4,562$4,036$3,563$3,140$2,763$2,381
13 years$4,168$3,647$3,184$2,772$2,410$2,046
14 years$3,831$3,315$2,861$2,461$2,112$1,767
15 years$3,538$3,029$2,583$2,195$1,860$1,532
16 years$3,283$2,779$2,342$1,965$1,644$1,333
17 years$3,058$2,559$2,131$1,766$1,457$1,164
18 years$2,858$2,365$1,945$1,591$1,296$1,018
19 years$2,679$2,192$1,781$1,438$1,155$893
20 years$2,518$2,037$1,634$1,302$1,032$784
21 years$2,373$1,897$1,503$1,182$923$690
22 years$2,242$1,771$1,385$1,075$828$608
23 years$2,121$1,656$1,279$979$743$537
24 years$2,011$1,552$1,183$893$668$474
25 years$1,910$1,456$1,096$815$601$419
26 years$1,817$1,369$1,016$745$541$371
27 years$1,731$1,288$944$682$488$328
28 years$1,652$1,214$877$625$440$291
29 years$1,577$1,145$816$573$398$258
30 years$1,508$1,081$760$526$359$229
31 years$1,444$1,022$709$483$325$203
32 years$1,384$967$661$444$294$180
33 years$1,327$916$618$408$266$160
34 years$1,274$868$577$376$241$142
35 years$1,224$823$539$346$218$126
36 years$1,177$782$505$319$198$112
37 years$1,132$742$472$293$179$100
38 years$1,090$705$442$270$162$89
39 years$1,051$671$414$249$147$79
40 years$1,013$638$388$230$134$70
41 years$977$608$364$212$121$62
42 years$943$579$342$196$110$56
43 years$911$551$321$181$100$49
44 years$880$525$301$167$91$44
45 years$851$501$283$154$82$39
46 years$823$478$265$142$75$35
47 years$797$456$249$132$68$31
48 years$771$435$234$122$62$28
49 years$747$416$220$112$56$25
50 years$723$397$207$104$51$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $741,000, adding $5,940 every year, while hoping to spend $28,617 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: 55/21/24 Blend
57$741,000$741,000$741,000$741,000
58$822,709$783,436$771,951$862,246
59$876,177$791,376$767,363$897,986
60$934,140$798,746$761,662$933,398
61$997,025$805,488$754,781$971,365
62$1,065,305$811,540$746,649$1,012,141
63$1,139,496$816,835$737,192$1,056,008
64$1,220,169$821,305$726,332$1,103,275
65$1,307,951$824,873$713,988$1,154,288
66$1,403,531$827,461$700,076$1,209,424
67$1,507,668$828,984$684,506$1,269,104
68$1,621,198$829,352$667,185$1,333,791
69$1,745,041$828,471$648,016$1,403,997
70$1,880,207$826,238$626,897$1,480,289
71$2,027,812$822,547$603,721$1,563,291
72$2,189,080$817,283$578,378$1,653,693
73$2,365,363$810,327$550,750$1,752,260
74$2,558,145$801,548$520,716$1,859,832
75$2,769,065$790,813$488,148$1,977,341
76$2,999,922$777,976$452,914$2,105,814
77$3,252,703$762,885$414,875$2,246,385
78$3,529,590$745,378$373,885$2,400,308
79$3,832,991$725,284$329,793$2,568,965
80$4,165,556$702,423$282,441$2,753,884
81$4,530,203$676,601$231,662$2,956,750
82$4,930,146$647,617$177,285$3,179,424
83$5,368,926$615,255$119,129$3,423,960
84$5,850,442$579,289$57,006$3,692,625
85$6,378,990$539,478$0$3,987,922
86$6,959,303$495,567$0$4,314,989
87$7,596,591$447,289$0$4,690,230
88$8,296,597$394,360$0$5,102,447
89$9,065,646$336,480$0$5,555,408
90$9,910,706$273,332$0$6,053,265
91$10,839,453$204,580$0$6,600,599
92$11,860,346$129,873$0$7,202,455
93$12,982,700$48,836$0$7,864,399
94$14,216,781$0$0$8,592,565
95$15,573,899$0$0$9,402,710
96$17,066,513$0$0$10,306,230
97$18,708,353$0$0$11,300,158
98$20,514,543$0$0$12,393,663
99$22,501,750$0$0$13,596,842
100$24,688,336$0$0$14,920,826