Can I retire at age 58 with 744,000?

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 $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%18%
1 years$61,439$60,892$60,358$59,836$59,328$57,406
2 years$30,415$29,849$29,300$28,768$28,251$26,333
3 years$20,075$19,507$18,959$18,432$17,924$16,069
4 years$14,907$14,339$13,797$13,279$12,783$11,007
5 years$11,806$11,242$10,707$10,200$9,718$8,024
6 years$9,740$9,180$8,653$8,157$7,689$6,080
7 years$8,264$7,709$7,191$6,706$6,253$4,728
8 years$7,158$6,608$6,098$5,626$5,188$3,745
9 years$6,298$5,754$5,252$4,792$4,369$3,008
10 years$5,611$5,072$4,579$4,130$3,723$2,441
11 years$5,049$4,515$4,031$3,595$3,202$1,996
12 years$4,581$4,052$3,578$3,153$2,774$1,643
13 years$4,185$3,662$3,197$2,784$2,419$1,360
14 years$3,846$3,329$2,872$2,471$2,121$1,130
15 years$3,553$3,041$2,593$2,204$1,867$942
16 years$3,296$2,790$2,351$1,973$1,650$787
17 years$3,070$2,570$2,139$1,773$1,463$659
18 years$2,869$2,374$1,953$1,598$1,301$553
19 years$2,690$2,201$1,788$1,444$1,160$465
20 years$2,529$2,045$1,641$1,308$1,036$392
21 years$2,383$1,905$1,509$1,187$927$330
22 years$2,251$1,778$1,391$1,079$831$278
23 years$2,130$1,663$1,284$983$746$235
24 years$2,020$1,558$1,188$896$670$198
25 years$1,918$1,462$1,100$818$603$168
26 years$1,825$1,374$1,020$748$543$142
27 years$1,738$1,293$947$685$490$120
28 years$1,658$1,219$881$628$442$101
29 years$1,584$1,150$820$576$399$86
30 years$1,514$1,086$763$528$361$73
31 years$1,450$1,026$712$485$326$61
32 years$1,389$971$664$446$295$52
33 years$1,332$920$620$410$267$44
34 years$1,279$872$579$377$242$37
35 years$1,229$827$542$347$219$32
36 years$1,182$785$507$320$198$27
37 years$1,137$745$474$295$180$23
38 years$1,095$708$444$272$163$19
39 years$1,055$674$416$250$148$16
40 years$1,017$641$390$231$134$14
41 years$981$610$366$213$122$12
42 years$947$581$343$197$110$10
43 years$915$553$322$182$100$8
44 years$884$528$302$168$91$7
45 years$855$503$284$155$83$6
46 years$827$480$266$143$75$5
47 years$800$458$250$132$68$4
48 years$774$437$235$122$62$4
49 years$750$418$221$113$56$3
50 years$726$399$208$104$51$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $744,000, adding $5,571 every year, while hoping to spend $58,835 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: 61/14/25 Blend
57$744,000$744,000$744,000$744,000
58$825,634$786,202$774,670$870,180
59$847,249$762,126$738,022$876,999
60$869,097$734,899$698,174$877,544
61$891,139$704,303$654,957$876,859
62$913,331$670,110$608,194$874,835
63$935,622$632,077$557,700$871,356
64$957,955$589,948$503,283$866,294
65$980,264$543,453$444,739$859,514
66$1,002,472$492,303$381,860$850,869
67$1,024,496$436,198$314,424$840,200
68$1,046,239$374,816$242,201$827,337
69$1,067,593$307,819$164,953$812,095
70$1,088,436$234,851$82,427$794,276
71$1,108,632$155,534$0$773,665
72$1,128,026$69,469$0$751,535
73$1,146,448$0$0$749,692
74$1,163,705$0$0$749,592
75$1,179,582$0$0$759,236
76$1,193,839$0$0$767,758
77$1,206,210$0$0$774,979
78$1,216,396$0$0$780,697
79$1,224,067$0$0$784,688
80$1,228,854$0$0$786,704
81$1,230,347$0$0$786,468
82$1,228,090$0$0$783,672
83$1,221,580$0$0$777,977
84$1,210,254$0$0$769,003
85$1,193,491$0$0$756,331
86$1,170,602$0$0$739,497
87$1,140,823$0$0$717,986
88$1,103,307$0$0$691,226
89$1,057,117$0$0$658,588
90$1,001,216$0$0$619,371
91$934,456$0$0$572,803
92$855,566$0$0$518,028
93$763,142$0$0$454,100
94$655,630$0$0$379,973
95$531,314$0$0$294,492
96$388,295$0$0$196,377
97$224,476$0$0$84,218
98$37,539$0$0$0
99$0$0$0$0
100$0$0$0$0