Can I retire at age 58 with 641,000?

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 $641,000?

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%
1 years$52,933$52,462$52,002$51,553$51,114$49,438
2 years$26,205$25,717$25,244$24,785$24,340$22,668
3 years$17,296$16,806$16,334$15,880$15,442$13,826
4 years$12,843$12,354$11,887$11,441$11,014$9,466
5 years$10,172$9,686$9,225$8,787$8,372$6,897
6 years$8,391$7,909$7,455$7,027$6,625$5,223
7 years$7,120$6,642$6,195$5,778$5,388$4,059
8 years$6,167$5,694$5,254$4,847$4,470$3,214
9 years$5,426$4,957$4,525$4,128$3,764$2,579
10 years$4,834$4,370$3,945$3,559$3,207$2,092
11 years$4,350$3,890$3,473$3,097$2,758$1,710
12 years$3,947$3,491$3,083$2,717$2,390$1,407
13 years$3,606$3,155$2,754$2,398$2,084$1,163
14 years$3,314$2,868$2,474$2,129$1,827$965
15 years$3,061$2,620$2,234$1,899$1,609$804
16 years$2,840$2,404$2,026$1,700$1,422$672
17 years$2,645$2,214$1,843$1,527$1,261$562
18 years$2,472$2,046$1,683$1,377$1,121$472
19 years$2,318$1,896$1,540$1,244$999$396
20 years$2,179$1,762$1,414$1,127$892$333
21 years$2,053$1,641$1,300$1,022$799$280
22 years$1,939$1,532$1,198$930$716$236
23 years$1,835$1,433$1,107$847$643$199
24 years$1,740$1,342$1,023$772$578$168
25 years$1,653$1,260$948$705$520$142
26 years$1,572$1,184$879$645$468$120
27 years$1,498$1,114$816$590$422$101
28 years$1,429$1,050$759$541$381$86
29 years$1,365$990$706$496$344$72
30 years$1,305$935$658$455$311$61
31 years$1,249$884$613$418$281$52
32 years$1,197$837$572$384$254$44
33 years$1,148$792$534$353$230$37
34 years$1,102$751$499$325$208$31
35 years$1,059$712$467$299$189$27
36 years$1,018$676$437$276$171$22
37 years$980$642$409$254$155$19
38 years$943$610$383$234$140$16
39 years$909$580$358$216$127$14
40 years$876$552$336$199$115$12
41 years$845$526$315$184$105$10
42 years$816$500$296$169$95$8
43 years$788$477$277$156$86$7
44 years$762$455$260$144$78$6
45 years$736$433$244$133$71$5
46 years$712$414$230$123$65$4
47 years$689$395$216$114$59$4
48 years$667$377$203$105$53$3
49 years$646$360$191$97$48$3
50 years$626$344$179$90$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $641,000, adding $4,334 every year, while hoping to spend $40,898 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: 82/9/9 Blend
57$641,000$641,000$641,000$641,000
58$710,853$676,880$666,944$767,888
59$739,844$666,531$645,771$795,509
60$770,423$654,306$622,519$819,949
61$802,706$640,067$597,074$845,539
62$836,824$623,672$569,317$872,372
63$872,917$604,969$539,127$900,551
64$911,140$583,798$506,373$930,187
65$951,661$559,989$470,922$961,404
66$994,665$533,363$432,631$994,338
67$1,040,351$503,728$391,355$1,029,141
68$1,088,941$470,885$346,940$1,065,976
69$1,140,675$434,620$299,224$1,105,028
70$1,195,817$394,710$248,041$1,146,498
71$1,254,655$350,915$193,215$1,190,608
72$1,317,506$302,986$134,564$1,237,603
73$1,384,716$250,657$71,897$1,287,755
74$1,456,666$193,648$5,014$1,341,361
75$1,533,772$131,663$0$1,398,751
76$1,616,491$64,389$0$1,466,662
77$1,705,326$0$0$1,540,049
78$1,800,826$0$0$1,619,739
79$1,903,596$0$0$1,712,368
80$2,014,299$0$0$1,812,159
81$2,133,666$0$0$1,919,770
82$2,262,495$0$0$2,035,924
83$2,401,669$0$0$2,161,417
84$2,552,152$0$0$2,297,122
85$2,715,008$0$0$2,443,999
86$2,891,406$0$0$2,603,103
87$3,082,629$0$0$2,775,595
88$3,290,091$0$0$2,962,750
89$3,515,344$0$0$3,165,973
90$3,760,097$0$0$3,386,808
91$4,026,231$0$0$3,626,951
92$4,315,811$0$0$3,888,271
93$4,631,115$0$0$4,172,824
94$4,974,645$0$0$4,482,873
95$5,349,156$0$0$4,820,905
96$5,757,681$0$0$5,189,661
97$6,203,558$0$0$5,592,157
98$6,690,459$0$0$6,031,711
99$7,222,430$0$0$6,511,978
100$7,803,922$0$0$7,036,982