Can I retire at age 58 with 746,000?

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 $746,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$61,604$61,055$60,520$59,997$59,487$58,191
2 years$30,497$29,929$29,379$28,845$28,327$27,028
3 years$20,129$19,559$19,010$18,481$17,972$16,710
4 years$14,947$14,378$13,834$13,315$12,818$11,603
5 years$11,838$11,272$10,736$10,227$9,744$8,580
6 years$9,766$9,205$8,676$8,179$7,710$6,597
7 years$8,286$7,730$7,210$6,724$6,270$5,210
8 years$7,177$6,626$6,115$5,641$5,202$4,193
9 years$6,315$5,769$5,267$4,805$4,381$3,423
10 years$5,626$5,085$4,592$4,142$3,733$2,824
11 years$5,062$4,527$4,042$3,604$3,210$2,351
12 years$4,593$4,063$3,587$3,162$2,782$1,970
13 years$4,196$3,672$3,205$2,791$2,426$1,660
14 years$3,857$3,338$2,880$2,478$2,126$1,405
15 years$3,562$3,049$2,600$2,210$1,872$1,193
16 years$3,305$2,798$2,357$1,979$1,655$1,017
17 years$3,078$2,576$2,145$1,778$1,467$869
18 years$2,877$2,381$1,958$1,602$1,305$744
19 years$2,697$2,206$1,793$1,448$1,163$638
20 years$2,535$2,050$1,645$1,311$1,039$548
21 years$2,389$1,910$1,513$1,190$929$472
22 years$2,257$1,783$1,395$1,082$833$406
23 years$2,136$1,667$1,288$985$748$350
24 years$2,025$1,562$1,191$899$672$302
25 years$1,923$1,466$1,103$821$605$261
26 years$1,830$1,378$1,023$750$545$225
27 years$1,743$1,297$950$687$491$195
28 years$1,663$1,222$883$629$443$168
29 years$1,588$1,153$822$577$400$146
30 years$1,519$1,089$766$530$362$126
31 years$1,454$1,029$714$486$327$109
32 years$1,393$974$666$447$296$95
33 years$1,336$922$622$411$268$82
34 years$1,283$874$581$378$242$71
35 years$1,232$829$543$348$219$61
36 years$1,185$787$508$321$199$53
37 years$1,140$747$476$295$180$46
38 years$1,098$710$445$272$163$40
39 years$1,058$675$417$251$148$35
40 years$1,020$643$391$232$134$30
41 years$984$612$367$214$122$26
42 years$950$582$344$197$111$23
43 years$917$555$323$182$100$20
44 years$886$529$303$168$91$17
45 years$857$504$284$155$83$15
46 years$829$481$267$143$75$13
47 years$802$459$251$132$68$11
48 years$776$438$236$122$62$10
49 years$752$419$222$113$56$8
50 years$728$400$208$105$51$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $746,000, adding $3,313 every year, while hoping to spend $47,826 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: 41/45/14 Blend
57$746,000$746,000$746,000$746,000
58$825,509$785,971$774,408$855,814
59$858,825$773,597$749,465$865,140
60$893,936$759,014$722,082$870,267
61$930,974$742,063$692,129$874,780
62$970,085$722,576$659,467$878,643
63$1,011,426$700,375$623,952$881,824
64$1,055,170$675,271$585,432$884,288
65$1,101,503$647,065$543,750$886,006
66$1,150,631$615,546$498,741$886,944
67$1,202,779$580,492$450,232$887,076
68$1,258,192$541,665$398,044$886,375
69$1,317,138$498,817$341,989$884,816
70$1,379,911$451,684$281,870$882,380
71$1,446,832$399,986$217,483$879,050
72$1,518,253$343,430$148,613$874,817
73$1,594,560$281,703$75,037$869,675
74$1,676,176$214,478$0$863,626
75$1,763,565$141,406$0$857,201
76$1,857,234$62,120$0$861,896
77$1,957,742$0$0$866,558
78$2,065,700$0$0$883,039
79$2,181,780$0$0$933,903
80$2,306,720$0$0$988,719
81$2,441,330$0$0$1,047,853
82$2,586,498$0$0$1,111,705
83$2,743,203$0$0$1,180,714
84$2,912,517$0$0$1,255,363
85$3,095,620$0$0$1,336,185
86$3,293,810$0$0$1,423,764
87$3,508,512$0$0$1,518,740
88$3,741,294$0$0$1,621,822
89$3,993,880$0$0$1,733,785
90$4,268,164$0$0$1,855,484
91$4,566,234$0$0$1,987,860
92$4,890,382$0$0$2,131,946
93$5,243,132$0$0$2,288,880
94$5,627,262$0$0$2,459,916
95$6,045,827$0$0$2,646,430
96$6,502,190$0$0$2,849,940
97$7,000,053$0$0$3,072,116
98$7,543,488$0$0$3,314,796
99$8,136,981$0$0$3,580,002
100$8,785,468$0$0$3,869,963