Can I retire at age 58 with 753,000?

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 $753,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$62,182$61,628$61,088$60,560$60,045$58,193
2 years$30,783$30,210$29,654$29,116$28,593$26,743
3 years$20,318$19,742$19,188$18,655$18,141$16,351
4 years$15,087$14,513$13,964$13,440$12,938$11,223
5 years$11,949$11,378$10,837$10,323$9,835$8,199
6 years$9,857$9,291$8,758$8,255$7,782$6,226
7 years$8,364$7,803$7,278$6,787$6,329$4,853
8 years$7,245$6,688$6,172$5,694$5,251$3,853
9 years$6,375$5,823$5,316$4,850$4,422$3,102
10 years$5,679$5,133$4,635$4,180$3,768$2,523
11 years$5,110$4,570$4,080$3,638$3,240$2,069
12 years$4,636$4,101$3,621$3,191$2,808$1,708
13 years$4,236$3,707$3,235$2,817$2,449$1,417
14 years$3,893$3,369$2,907$2,501$2,146$1,180
15 years$3,596$3,078$2,624$2,230$1,890$987
16 years$3,336$2,824$2,379$1,997$1,670$827
17 years$3,107$2,601$2,165$1,794$1,481$695
18 years$2,904$2,403$1,977$1,617$1,317$585
19 years$2,722$2,227$1,809$1,461$1,174$493
20 years$2,559$2,070$1,661$1,323$1,048$416
21 years$2,412$1,928$1,527$1,201$938$352
22 years$2,278$1,799$1,408$1,092$841$298
23 years$2,156$1,683$1,300$995$755$252
24 years$2,044$1,577$1,202$907$678$214
25 years$1,941$1,480$1,113$828$611$181
26 years$1,847$1,391$1,033$757$550$154
27 years$1,759$1,309$959$693$496$130
28 years$1,678$1,233$891$635$447$111
29 years$1,603$1,164$830$583$404$94
30 years$1,533$1,099$773$535$365$80
31 years$1,467$1,039$720$491$330$68
32 years$1,406$983$672$451$299$58
33 years$1,349$931$628$415$270$49
34 years$1,295$882$586$382$245$42
35 years$1,244$837$548$351$222$35
36 years$1,196$794$513$324$201$30
37 years$1,151$754$480$298$182$25
38 years$1,108$717$449$275$165$22
39 years$1,068$682$421$253$150$18
40 years$1,029$649$395$234$136$16
41 years$993$617$370$216$123$13
42 years$959$588$347$199$112$11
43 years$926$560$326$184$101$10
44 years$895$534$306$170$92$8
45 years$865$509$287$157$84$7
46 years$837$486$270$145$76$6
47 years$809$464$253$134$69$5
48 years$784$443$238$124$63$4
49 years$759$423$224$114$57$4
50 years$735$404$210$106$52$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $753,000, adding $5,803 every year, while hoping to spend $55,462 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: 55/32/13 Blend
57$753,000$753,000$753,000$753,000
58$835,792$795,883$784,211$878,642
59$862,031$775,870$751,471$888,378
60$889,089$753,018$715,776$892,452
61$916,988$727,128$676,967$895,603
62$945,756$697,992$634,880$897,755
63$975,418$665,388$589,343$898,826
64$1,006,001$629,083$540,176$898,729
65$1,037,532$588,828$487,192$897,374
66$1,070,041$544,361$430,193$894,664
67$1,103,557$495,405$368,976$890,495
68$1,138,108$441,669$303,326$884,760
69$1,173,727$382,842$233,018$877,342
70$1,210,443$318,598$157,821$868,120
71$1,248,291$248,592$77,490$856,966
72$1,287,301$172,458$0$843,742
73$1,327,509$89,811$0$829,448
74$1,368,949$246$0$824,332
75$1,411,655$0$0$817,512
76$1,455,665$0$0$842,897
77$1,501,014$0$0$869,142
78$1,547,740$0$0$896,183
79$1,595,881$0$0$924,041
80$1,645,476$0$0$952,740
81$1,696,565$0$0$982,300
82$1,749,186$0$0$1,012,745
83$1,803,382$0$0$1,044,099
84$1,859,193$0$0$1,076,385
85$1,916,660$0$0$1,109,626
86$1,975,826$0$0$1,143,846
87$2,036,732$0$0$1,179,070
88$2,099,421$0$0$1,215,321
89$2,163,934$0$0$1,252,622
90$2,230,315$0$0$1,290,999
91$2,298,605$0$0$1,330,475
92$2,368,845$0$0$1,371,072
93$2,441,078$0$0$1,412,814
94$2,515,342$0$0$1,455,724
95$2,591,677$0$0$1,499,823
96$2,670,121$0$0$1,545,132
97$2,750,710$0$0$1,591,670
98$2,833,479$0$0$1,639,457
99$2,918,460$0$0$1,688,509
100$3,005,681$0$0$1,738,843