Can I retire at age 58 with 743,000?

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 $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%15.1%
1 years$61,356$60,810$60,277$59,756$59,248$58,004
2 years$30,374$29,809$29,260$28,729$28,213$26,966
3 years$20,048$19,480$18,933$18,407$17,900$16,688
4 years$14,886$14,320$13,779$13,261$12,766$11,599
5 years$11,790$11,227$10,693$10,186$9,705$8,586
6 years$9,727$9,168$8,641$8,146$7,679$6,610
7 years$8,253$7,699$7,181$6,697$6,245$5,225
8 years$7,149$6,600$6,090$5,618$5,181$4,210
9 years$6,290$5,746$5,245$4,785$4,363$3,441
10 years$5,603$5,065$4,573$4,125$3,718$2,843
11 years$5,042$4,509$4,026$3,590$3,197$2,369
12 years$4,575$4,047$3,573$3,149$2,771$1,988
13 years$4,179$3,657$3,192$2,780$2,416$1,677
14 years$3,841$3,324$2,868$2,468$2,118$1,421
15 years$3,548$3,037$2,590$2,201$1,865$1,209
16 years$3,292$2,786$2,348$1,971$1,648$1,032
17 years$3,066$2,566$2,136$1,771$1,461$883
18 years$2,865$2,371$1,950$1,596$1,299$757
19 years$2,686$2,198$1,785$1,442$1,158$650
20 years$2,525$2,042$1,639$1,306$1,034$560
21 years$2,380$1,902$1,507$1,185$926$482
22 years$2,248$1,776$1,389$1,078$830$416
23 years$2,127$1,661$1,283$981$745$359
24 years$2,017$1,556$1,186$895$669$310
25 years$1,916$1,460$1,099$817$602$268
26 years$1,822$1,372$1,019$747$543$232
27 years$1,736$1,292$946$684$489$201
28 years$1,656$1,217$880$627$441$174
29 years$1,582$1,148$819$575$399$151
30 years$1,512$1,084$762$527$360$131
31 years$1,448$1,025$711$484$326$113
32 years$1,387$970$663$445$295$98
33 years$1,331$918$619$409$267$85
34 years$1,277$870$579$377$241$74
35 years$1,227$826$541$347$219$64
36 years$1,180$784$506$319$198$56
37 years$1,136$744$474$294$180$48
38 years$1,093$707$444$271$163$42
39 years$1,054$673$416$250$148$37
40 years$1,016$640$389$231$134$32
41 years$980$609$365$213$121$28
42 years$946$580$343$196$110$24
43 years$914$553$321$181$100$21
44 years$883$527$302$167$91$18
45 years$853$502$283$155$82$16
46 years$825$479$266$143$75$14
47 years$799$457$250$132$68$12
48 years$773$437$235$122$62$10
49 years$749$417$221$113$56$9
50 years$725$398$208$104$51$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $743,000, adding $6,710 every year, while hoping to spend $25,398 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: 31/40/29 Blend
57$743,000$743,000$743,000$743,000
58$825,707$786,328$774,812$843,823
59$882,906$797,835$773,745$869,940
60$945,088$809,055$771,791$895,356
61$1,012,735$819,946$768,893$922,220
62$1,086,375$830,465$764,993$950,678
63$1,166,593$840,565$760,028$980,888
64$1,254,029$850,197$753,932$1,013,032
65$1,349,390$859,306$746,639$1,047,306
66$1,453,453$867,837$738,076$1,083,931
67$1,567,072$875,727$728,168$1,123,151
68$1,691,189$882,914$716,838$1,165,238
69$1,826,841$889,327$704,002$1,210,493
70$1,975,168$894,894$689,576$1,259,247
71$2,137,428$899,537$673,470$1,311,872
72$2,315,003$903,171$655,588$1,368,776
73$2,509,417$905,710$635,834$1,430,414
74$2,722,347$907,060$614,104$1,497,289
75$2,955,640$907,120$590,291$1,569,957
76$3,211,332$905,784$564,281$1,649,036
77$3,491,661$902,941$535,958$1,735,208
78$3,799,096$898,472$505,199$1,829,230
79$4,136,356$892,248$471,875$1,931,939
80$4,506,433$884,137$435,851$2,044,261
81$4,912,625$873,996$396,988$2,167,221
82$5,358,565$861,674$355,139$2,301,952
83$5,848,253$847,010$310,151$2,449,709
84$6,386,098$829,837$261,864$2,611,878
85$6,976,954$809,973$210,111$2,789,994
86$7,626,172$787,230$154,718$2,985,750
87$8,339,643$761,406$95,502$3,201,022
88$9,123,859$732,287$32,275$3,437,881
89$9,985,973$699,650$0$3,698,617
90$10,933,864$663,255$0$3,996,652
91$11,976,214$622,850$0$4,335,254
92$13,122,587$578,169$0$4,707,581
93$14,383,521$528,929$0$5,117,115
94$15,770,627$474,834$0$5,567,696
95$17,296,698$415,567$0$6,063,563
96$18,975,828$350,797$0$6,609,388
97$20,823,547$280,171$0$7,210,331
98$22,856,968$203,318$0$7,872,080
99$25,094,944$119,846$0$8,600,912
100$27,558,250$29,341$0$9,403,748