Can I retire at age 58 with 743,000?

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 $743,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$61,356$60,810$60,277$59,756$59,248$58,362
2 years$30,374$29,809$29,260$28,729$28,213$27,323
3 years$20,048$19,480$18,933$18,407$17,900$17,033
4 years$14,886$14,320$13,779$13,261$12,766$11,929
5 years$11,790$11,227$10,693$10,186$9,705$8,900
6 years$9,727$9,168$8,641$8,146$7,679$6,907
7 years$8,253$7,699$7,181$6,697$6,245$5,506
8 years$7,149$6,600$6,090$5,618$5,181$4,476
9 years$6,290$5,746$5,245$4,785$4,363$3,691
10 years$5,603$5,065$4,573$4,125$3,718$3,077
11 years$5,042$4,509$4,026$3,590$3,197$2,589
12 years$4,575$4,047$3,573$3,149$2,771$2,193
13 years$4,179$3,657$3,192$2,780$2,416$1,869
14 years$3,841$3,324$2,868$2,468$2,118$1,600
15 years$3,548$3,037$2,590$2,201$1,865$1,375
16 years$3,292$2,786$2,348$1,971$1,648$1,186
17 years$3,066$2,566$2,136$1,771$1,461$1,026
18 years$2,865$2,371$1,950$1,596$1,299$889
19 years$2,686$2,198$1,785$1,442$1,158$772
20 years$2,525$2,042$1,639$1,306$1,034$672
21 years$2,380$1,902$1,507$1,185$926$586
22 years$2,248$1,776$1,389$1,078$830$511
23 years$2,127$1,661$1,283$981$745$446
24 years$2,017$1,556$1,186$895$669$390
25 years$1,916$1,460$1,099$817$602$342
26 years$1,822$1,372$1,019$747$543$299
27 years$1,736$1,292$946$684$489$262
28 years$1,656$1,217$880$627$441$230
29 years$1,582$1,148$819$575$399$202
30 years$1,512$1,084$762$527$360$177
31 years$1,448$1,025$711$484$326$155
32 years$1,387$970$663$445$295$136
33 years$1,331$918$619$409$267$120
34 years$1,277$870$579$377$241$105
35 years$1,227$826$541$347$219$93
36 years$1,180$784$506$319$198$81
37 years$1,136$744$474$294$180$72
38 years$1,093$707$444$271$163$63
39 years$1,054$673$416$250$148$55
40 years$1,016$640$389$231$134$49
41 years$980$609$365$213$121$43
42 years$946$580$343$196$110$38
43 years$914$553$321$181$100$33
44 years$883$527$302$167$91$29
45 years$853$502$283$155$82$26
46 years$825$479$266$143$75$23
47 years$799$457$250$132$68$20
48 years$773$437$235$122$62$17
49 years$749$417$221$113$56$15
50 years$725$398$208$104$51$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $743,000, adding $3,187 every year, while hoping to spend $52,008 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: 67/28/5 Blend
57$743,000$743,000$743,000$743,000
58$822,073$782,694$771,178$876,438
59$850,589$765,710$741,676$895,888
60$880,270$746,151$709,443$910,538
61$911,180$723,835$674,332$925,142
62$943,388$698,571$636,191$939,686
63$976,969$670,156$594,858$954,159
64$1,012,002$638,376$550,168$968,546
65$1,048,572$603,003$501,945$982,836
66$1,086,774$563,796$450,007$997,018
67$1,126,705$520,503$394,163$1,011,081
68$1,168,477$472,855$334,214$1,025,016
69$1,212,204$420,568$269,953$1,038,816
70$1,258,015$363,342$201,163$1,052,476
71$1,306,046$300,859$127,616$1,065,992
72$1,356,448$232,787$49,076$1,079,364
73$1,409,382$158,769$0$1,092,596
74$1,465,024$78,435$0$1,107,549
75$1,523,567$0$0$1,125,295
76$1,585,218$0$0$1,145,898
77$1,650,204$0$0$1,193,107
78$1,718,772$0$0$1,242,937
79$1,791,192$0$0$1,295,585
80$1,867,757$0$0$1,351,268
81$1,948,789$0$0$1,410,223
82$2,034,638$0$0$1,472,706
83$2,125,686$0$0$1,539,000
84$2,222,352$0$0$1,609,412
85$2,325,092$0$0$1,684,279
86$2,434,408$0$0$1,763,970
87$2,550,848$0$0$1,848,888
88$2,675,010$0$0$1,939,475
89$2,807,552$0$0$2,036,215
90$2,949,194$0$0$2,139,638
91$3,100,724$0$0$2,250,326
92$3,263,007$0$0$2,368,916
93$3,436,993$0$0$2,496,107
94$3,623,722$0$0$2,632,667
95$3,824,336$0$0$2,779,438
96$4,040,089$0$0$2,937,344
97$4,272,357$0$0$3,107,400
98$4,522,653$0$0$3,290,721
99$4,792,635$0$0$3,488,532
100$5,084,130$0$0$3,702,177