Can I retire at age 58 with 747,000?

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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$61,687$61,137$60,601$60,078$59,567$59,043
2 years$30,538$29,969$29,418$28,884$28,365$27,837
3 years$20,156$19,585$19,035$18,506$17,996$17,481
4 years$14,967$14,397$13,853$13,333$12,835$12,336
5 years$11,854$11,288$10,750$10,241$9,757$9,276
6 years$9,779$9,217$8,688$8,190$7,720$7,257
7 years$8,298$7,741$7,220$6,733$6,279$5,834
8 years$7,187$6,635$6,123$5,648$5,209$4,783
9 years$6,324$5,777$5,274$4,811$4,387$3,979
10 years$5,634$5,092$4,598$4,147$3,738$3,348
11 years$5,069$4,533$4,048$3,609$3,214$2,843
12 years$4,599$4,069$3,592$3,166$2,786$2,432
13 years$4,202$3,677$3,209$2,795$2,429$2,092
14 years$3,862$3,342$2,884$2,481$2,129$1,809
15 years$3,567$3,053$2,604$2,213$1,875$1,571
16 years$3,309$2,801$2,361$1,981$1,657$1,369
17 years$3,082$2,580$2,148$1,780$1,469$1,196
18 years$2,881$2,384$1,961$1,604$1,306$1,048
19 years$2,701$2,209$1,795$1,450$1,164$921
20 years$2,539$2,053$1,647$1,313$1,040$810
21 years$2,392$1,912$1,515$1,191$931$714
22 years$2,260$1,785$1,397$1,083$834$630
23 years$2,139$1,670$1,289$987$749$557
24 years$2,028$1,564$1,193$900$673$492
25 years$1,926$1,468$1,105$822$606$436
26 years$1,832$1,380$1,024$751$546$386
27 years$1,745$1,298$951$688$492$343
28 years$1,665$1,224$884$630$444$304
29 years$1,590$1,154$823$578$401$270
30 years$1,521$1,090$767$530$362$240
31 years$1,456$1,030$715$487$327$213
32 years$1,395$975$667$448$296$190
33 years$1,338$923$623$412$268$169
34 years$1,284$875$582$379$243$150
35 years$1,234$830$544$349$220$134
36 years$1,186$788$509$321$199$119
37 years$1,142$748$476$296$180$106
38 years$1,099$711$446$273$164$94
39 years$1,059$676$418$251$148$84
40 years$1,021$643$392$232$135$75
41 years$985$612$367$214$122$67
42 years$951$583$344$197$111$59
43 years$919$556$323$182$101$53
44 years$888$530$303$168$91$47
45 years$858$505$285$155$83$42
46 years$830$482$268$144$75$38
47 years$803$460$251$133$68$33
48 years$777$439$236$123$62$30
49 years$753$419$222$113$56$27
50 years$729$400$209$105$51$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $747,000, adding $3,364 every year, while hoping to spend $29,104 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: 48/41/11 Blend
57$747,000$747,000$747,000$747,000
58$826,664$787,073$775,494$863,694
59$880,017$794,673$770,507$897,122
60$937,837$801,670$764,377$930,090
61$1,000,548$808,004$757,036$965,225
62$1,068,619$813,610$748,411$1,002,737
63$1,142,561$818,421$738,426$1,042,862
64$1,222,942$822,363$727,002$1,085,857
65$1,310,382$825,359$714,057$1,132,009
66$1,405,566$827,326$699,503$1,181,635
67$1,509,247$828,179$683,250$1,235,085
68$1,622,254$827,823$665,202$1,292,747
69$1,745,497$826,160$645,260$1,355,049
70$1,879,981$823,085$623,320$1,422,466
71$2,026,811$818,488$599,272$1,495,521
72$2,187,202$812,250$573,004$1,574,796
73$2,362,493$804,246$544,396$1,660,929
74$2,554,158$794,345$513,324$1,754,631
75$2,763,819$782,405$479,658$1,856,684
76$2,993,264$768,278$443,262$1,967,954
77$3,244,459$751,807$403,994$2,089,398
78$3,519,572$732,823$361,705$2,222,073
79$3,820,988$711,151$316,242$2,367,149
80$4,151,334$686,603$267,442$2,525,915
81$4,513,505$658,981$215,136$2,699,799
82$4,910,688$628,076$159,148$2,890,376
83$5,346,392$593,666$99,293$3,099,387
84$5,824,485$555,517$35,380$3,328,754
85$6,349,225$513,380$0$3,580,602
86$6,925,304$466,993$0$3,861,129
87$7,557,890$416,081$0$4,173,752
88$8,252,675$360,349$0$4,517,200
89$9,015,930$299,488$0$4,894,658
90$9,854,563$233,172$0$5,309,638
91$10,776,186$161,055$0$5,766,019
92$11,789,183$82,773$0$6,268,077
93$12,902,792$0$0$6,820,535
94$14,127,188$0$0$7,429,529
95$15,473,585$0$0$8,140,358
96$16,954,335$0$0$8,922,212
97$18,583,048$0$0$9,782,289
98$20,374,721$0$0$10,728,519
99$22,345,874$0$0$11,769,640
100$24,514,712$0$0$12,915,280