Can I retire at age 58 with 642,000?

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 $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$53,016$52,544$52,083$51,633$51,194$50,471
2 years$26,245$25,757$25,283$24,824$24,378$23,651
3 years$17,323$16,832$16,360$15,905$15,466$14,758
4 years$12,863$12,373$11,906$11,458$11,031$10,346
5 years$10,187$9,701$9,239$8,801$8,385$7,727
6 years$8,404$7,922$7,467$7,038$6,635$6,003
7 years$7,131$6,653$6,205$5,787$5,396$4,791
8 years$6,177$5,702$5,262$4,854$4,477$3,899
9 years$5,435$4,965$4,532$4,135$3,770$3,219
10 years$4,842$4,376$3,951$3,564$3,212$2,687
11 years$4,357$3,896$3,479$3,102$2,763$2,263
12 years$3,953$3,497$3,087$2,721$2,394$1,920
13 years$3,611$3,160$2,758$2,402$2,088$1,638
14 years$3,319$2,873$2,478$2,132$1,830$1,404
15 years$3,066$2,624$2,238$1,902$1,611$1,209
16 years$2,844$2,408$2,029$1,703$1,424$1,044
17 years$2,649$2,217$1,846$1,530$1,263$904
18 years$2,476$2,049$1,685$1,379$1,123$785
19 years$2,321$1,899$1,543$1,246$1,001$683
20 years$2,182$1,765$1,416$1,128$894$595
21 years$2,056$1,644$1,302$1,024$800$519
22 years$1,942$1,534$1,200$931$717$454
23 years$1,838$1,435$1,108$848$644$397
24 years$1,743$1,344$1,025$773$578$348
25 years$1,655$1,262$949$706$521$305
26 years$1,575$1,186$880$646$469$267
27 years$1,500$1,116$818$591$423$235
28 years$1,431$1,052$760$542$381$206
29 years$1,367$992$707$497$344$181
30 years$1,307$937$659$456$311$159
31 years$1,251$886$614$419$281$140
32 years$1,199$838$573$385$255$123
33 years$1,150$794$535$354$230$108
34 years$1,104$752$500$326$209$95
35 years$1,060$713$467$300$189$84
36 years$1,020$677$437$276$171$74
37 years$981$643$409$254$155$65
38 years$945$611$383$234$141$57
39 years$910$581$359$216$128$51
40 years$878$553$337$199$116$45
41 years$847$526$316$184$105$39
42 years$817$501$296$170$95$35
43 years$789$478$278$157$86$30
44 years$763$455$261$145$78$27
45 years$737$434$245$134$71$24
46 years$713$414$230$123$65$21
47 years$690$395$216$114$59$18
48 years$668$377$203$105$53$16
49 years$647$360$191$97$48$14
50 years$627$344$179$90$44$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $642,000, adding $4,316 every year, while hoping to spend $41,952 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: 44/49/7 Blend
57$642,000$642,000$642,000$642,000
58$711,936$677,910$667,959$741,662
59$739,917$666,491$645,699$751,247
60$769,346$653,106$621,287$756,970
61$800,326$637,616$594,607$762,203
62$832,970$619,870$565,538$766,913
63$867,401$599,711$533,951$771,071
64$903,752$576,973$499,714$774,646
65$942,169$551,479$462,689$777,608
66$982,810$523,042$422,730$779,927
67$1,025,851$491,464$379,685$781,575
68$1,071,479$456,538$333,396$782,527
69$1,119,903$418,041$283,697$782,756
70$1,171,348$375,740$230,416$782,240
71$1,226,063$329,389$173,373$780,959
72$1,284,320$278,727$112,379$778,898
73$1,346,414$223,478$47,237$776,045
74$1,412,671$163,352$0$772,393
75$1,483,447$98,040$0$769,606
76$1,559,133$27,218$0$769,899
77$1,640,157$0$0$769,772
78$1,726,988$0$0$795,933
79$1,820,142$0$0$839,796
80$1,920,182$0$0$886,956
81$2,027,730$0$0$937,715
82$2,143,466$0$0$992,400
83$2,268,137$0$0$1,051,372
84$2,402,565$0$0$1,115,029
85$2,547,652$0$0$1,183,806
86$2,704,388$0$0$1,258,182
87$2,873,863$0$0$1,338,684
88$3,057,274$0$0$1,425,890
89$3,255,936$0$0$1,520,437
90$3,471,297$0$0$1,623,025
91$3,704,947$0$0$1,734,423
92$3,958,636$0$0$1,855,477
93$4,234,288$0$0$1,987,120
94$4,534,021$0$0$2,130,376
95$4,860,164$0$0$2,286,371
96$5,215,279$0$0$2,456,347
97$5,602,186$0$0$2,641,669
98$6,023,989$0$0$2,843,839
99$6,484,102$0$0$3,064,511
100$6,986,285$0$0$3,305,505