Can I retire at age 58 with 754,000?

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 $754,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$62,265$61,710$61,169$60,641$60,125$59,696
2 years$30,824$30,250$29,694$29,154$28,631$28,198
3 years$20,345$19,769$19,214$18,679$18,165$17,742
4 years$15,107$14,532$13,983$13,457$12,955$12,546
5 years$11,965$11,393$10,851$10,337$9,848$9,453
6 years$9,871$9,304$8,769$8,266$7,793$7,412
7 years$8,375$7,813$7,287$6,796$6,338$5,972
8 years$7,254$6,697$6,180$5,701$5,258$4,907
9 years$6,383$5,831$5,323$4,856$4,428$4,092
10 years$5,686$5,140$4,641$4,186$3,773$3,451
11 years$5,117$4,576$4,086$3,643$3,245$2,938
12 years$4,642$4,107$3,626$3,195$2,812$2,519
13 years$4,241$3,711$3,240$2,821$2,452$2,173
14 years$3,898$3,374$2,911$2,504$2,149$1,884
15 years$3,600$3,082$2,628$2,233$1,892$1,640
16 years$3,341$2,828$2,383$2,000$1,672$1,433
17 years$3,111$2,604$2,168$1,797$1,483$1,256
18 years$2,908$2,406$1,979$1,619$1,319$1,104
19 years$2,726$2,230$1,812$1,463$1,175$972
20 years$2,563$2,072$1,663$1,325$1,050$858
21 years$2,415$1,930$1,530$1,203$939$758
22 years$2,281$1,802$1,410$1,093$842$671
23 years$2,159$1,685$1,302$996$756$595
24 years$2,047$1,579$1,204$908$679$528
25 years$1,944$1,482$1,115$829$611$469
26 years$1,849$1,393$1,034$758$551$417
27 years$1,762$1,311$960$694$496$371
28 years$1,681$1,235$893$636$448$330
29 years$1,605$1,165$831$583$405$294
30 years$1,535$1,100$774$535$366$262
31 years$1,469$1,040$721$492$330$234
32 years$1,408$984$673$452$299$209
33 years$1,350$932$628$415$271$186
34 years$1,296$883$587$382$245$166
35 years$1,245$838$549$352$222$148
36 years$1,198$795$514$324$201$133
37 years$1,152$755$481$299$182$118
38 years$1,110$718$450$275$165$106
39 years$1,069$683$422$254$150$95
40 years$1,031$649$395$234$136$85
41 years$994$618$371$216$123$76
42 years$960$589$348$199$112$68
43 years$927$561$326$184$101$60
44 years$896$535$306$170$92$54
45 years$866$510$288$157$84$48
46 years$838$486$270$145$76$43
47 years$811$464$254$134$69$39
48 years$785$443$238$124$63$35
49 years$760$423$224$114$57$31
50 years$736$404$211$106$52$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $754,000, adding $5,796 every year, while hoping to spend $22,352 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: 58/31/11 Blend
57$754,000$754,000$754,000$754,000
58$836,887$796,925$785,238$882,860
59$898,467$812,192$787,761$929,793
60$965,579$827,457$789,619$977,922
61$1,038,764$842,699$790,767$1,029,846
62$1,118,616$857,889$791,157$1,085,931
63$1,205,791$873,003$790,737$1,146,581
64$1,301,011$888,008$789,455$1,212,242
65$1,405,067$902,874$787,255$1,283,403
66$1,518,835$917,566$784,079$1,360,606
67$1,643,277$932,047$779,867$1,444,447
68$1,779,451$946,278$774,552$1,535,583
69$1,928,526$960,216$768,070$1,634,738
70$2,091,784$973,815$760,349$1,742,710
71$2,270,640$987,026$751,315$1,860,379
72$2,466,653$999,798$740,892$1,988,716
73$2,681,539$1,012,075$728,998$2,128,790
74$2,917,186$1,023,797$715,550$2,281,779
75$3,175,676$1,034,900$700,458$2,448,984
76$3,459,302$1,045,317$683,630$2,631,837
77$3,770,588$1,054,975$664,970$2,831,917
78$4,112,316$1,063,797$644,374$3,050,966
79$4,487,550$1,071,701$621,739$3,290,903
80$4,899,665$1,078,599$596,952$3,553,844
81$5,352,379$1,084,399$569,898$3,842,123
82$5,849,788$1,089,000$540,455$4,158,311
83$6,396,403$1,092,298$508,498$4,505,245
84$6,997,197$1,094,181$473,892$4,886,049
85$7,657,644$1,094,529$436,501$5,304,170
86$8,383,779$1,093,217$396,179$5,763,407
87$9,182,249$1,090,109$352,776$6,267,947
88$10,060,378$1,085,064$306,134$6,822,408
89$11,026,235$1,077,930$256,087$7,431,879
90$12,088,709$1,068,547$202,465$8,101,971
91$13,257,597$1,056,745$145,086$8,838,870
92$14,543,690$1,042,344$83,765$9,649,392
93$15,958,880$1,025,152$18,304$10,541,055
94$17,516,268$1,004,967$0$11,522,144
95$19,230,292$981,575$0$12,607,843
96$21,116,859$954,749$0$13,804,856
97$23,193,495$924,249$0$15,122,156
98$25,479,514$889,819$0$16,572,005
99$27,996,196$851,192$0$18,167,916
100$30,766,989$808,081$0$19,924,784