Can I retire at age 58 with 744,000?

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 $744,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$61,439$60,892$60,358$59,836$59,328$58,611
2 years$30,415$29,849$29,300$28,768$28,251$27,530
3 years$20,075$19,507$18,959$18,432$17,924$17,220
4 years$14,907$14,339$13,797$13,279$12,783$12,103
5 years$11,806$11,242$10,707$10,200$9,718$9,062
6 years$9,740$9,180$8,653$8,157$7,689$7,060
7 years$8,264$7,709$7,191$6,706$6,253$5,650
8 years$7,158$6,608$6,098$5,626$5,188$4,611
9 years$6,298$5,754$5,252$4,792$4,369$3,818
10 years$5,611$5,072$4,579$4,130$3,723$3,197
11 years$5,049$4,515$4,031$3,595$3,202$2,702
12 years$4,581$4,052$3,578$3,153$2,774$2,299
13 years$4,185$3,662$3,197$2,784$2,419$1,968
14 years$3,846$3,329$2,872$2,471$2,121$1,693
15 years$3,553$3,041$2,593$2,204$1,867$1,462
16 years$3,296$2,790$2,351$1,973$1,650$1,267
17 years$3,070$2,570$2,139$1,773$1,463$1,101
18 years$2,869$2,374$1,953$1,598$1,301$959
19 years$2,690$2,201$1,788$1,444$1,160$838
20 years$2,529$2,045$1,641$1,308$1,036$733
21 years$2,383$1,905$1,509$1,187$927$642
22 years$2,251$1,778$1,391$1,079$831$563
23 years$2,130$1,663$1,284$983$746$494
24 years$2,020$1,558$1,188$896$670$435
25 years$1,918$1,462$1,100$818$603$383
26 years$1,825$1,374$1,020$748$543$337
27 years$1,738$1,293$947$685$490$297
28 years$1,658$1,219$881$628$442$262
29 years$1,584$1,150$820$576$399$231
30 years$1,514$1,086$763$528$361$204
31 years$1,450$1,026$712$485$326$180
32 years$1,389$971$664$446$295$159
33 years$1,332$920$620$410$267$140
34 years$1,279$872$579$377$242$124
35 years$1,229$827$542$347$219$110
36 years$1,182$785$507$320$198$97
37 years$1,137$745$474$295$180$86
38 years$1,095$708$444$272$163$76
39 years$1,055$674$416$250$148$67
40 years$1,017$641$390$231$134$59
41 years$981$610$366$213$122$53
42 years$947$581$343$197$110$47
43 years$915$553$322$182$100$41
44 years$884$528$302$168$91$36
45 years$855$503$284$155$83$32
46 years$827$480$266$143$75$29
47 years$800$458$250$132$68$25
48 years$774$437$235$122$62$22
49 years$750$418$221$113$56$20
50 years$726$399$208$104$51$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $744,000, adding $4,894 every year, while hoping to spend $57,033 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: 66/6/28 Blend
57$744,000$744,000$744,000$744,000
58$824,936$785,504$773,972$873,002
59$848,397$763,311$739,218$883,846
60$872,339$738,119$701,387$888,879
61$896,752$709,721$660,318$893,120
62$921,621$677,898$615,839$896,496
63$946,929$642,417$567,772$898,927
64$972,654$603,034$515,930$900,329
65$998,771$559,489$460,120$900,611
66$1,025,249$511,508$400,138$899,675
67$1,052,054$458,801$335,772$897,416
68$1,079,142$401,061$266,799$893,720
69$1,106,467$337,965$192,989$888,464
70$1,133,972$269,171$114,100$881,518
71$1,161,594$194,317$29,879$872,739
72$1,189,260$113,022$0$861,974
73$1,216,887$24,883$0$866,985
74$1,244,382$0$0$880,358
75$1,271,637$0$0$897,708
76$1,298,532$0$0$916,414
77$1,324,933$0$0$934,732
78$1,350,685$0$0$952,552
79$1,375,618$0$0$969,747
80$1,399,541$0$0$986,177
81$1,422,237$0$0$1,001,684
82$1,443,466$0$0$1,016,093
83$1,462,960$0$0$1,029,208
84$1,480,418$0$0$1,040,808
85$1,495,507$0$0$1,050,651
86$1,507,853$0$0$1,058,463
87$1,517,042$0$0$1,063,942
88$1,522,614$0$0$1,066,753
89$1,524,055$0$0$1,066,519
90$1,520,796$0$0$1,062,827
91$1,512,205$0$0$1,055,216
92$1,497,581$0$0$1,043,174
93$1,476,146$0$0$1,026,133
94$1,447,038$0$0$1,003,466
95$1,409,301$0$0$974,476
96$1,361,877$0$0$938,392
97$1,303,594$0$0$894,359
98$1,233,154$0$0$841,433
99$1,149,122$0$0$778,567
100$1,049,909$0$0$704,606