Can I retire at age 58 with 645,000?

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 $645,000?

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$53,263$52,789$52,326$51,874$51,433$51,066
2 years$26,368$25,877$25,401$24,940$24,492$24,122
3 years$17,404$16,911$16,436$15,979$15,539$15,177
4 years$12,923$12,431$11,961$11,512$11,082$10,732
5 years$10,235$9,746$9,282$8,842$8,425$8,086
6 years$8,444$7,959$7,502$7,071$6,666$6,341
7 years$7,165$6,684$6,234$5,814$5,421$5,109
8 years$6,206$5,729$5,287$4,877$4,498$4,198
9 years$5,460$4,988$4,554$4,154$3,788$3,500
10 years$4,864$4,397$3,970$3,581$3,227$2,952
11 years$4,377$3,914$3,495$3,116$2,775$2,513
12 years$3,971$3,513$3,102$2,734$2,405$2,155
13 years$3,628$3,175$2,771$2,413$2,097$1,859
14 years$3,334$2,886$2,490$2,142$1,839$1,612
15 years$3,080$2,636$2,248$1,911$1,619$1,403
16 years$2,858$2,419$2,038$1,711$1,431$1,226
17 years$2,662$2,228$1,855$1,537$1,269$1,075
18 years$2,488$2,058$1,693$1,385$1,128$944
19 years$2,332$1,908$1,550$1,252$1,005$832
20 years$2,192$1,773$1,422$1,134$898$734
21 years$2,066$1,651$1,308$1,029$804$649
22 years$1,951$1,541$1,206$935$720$574
23 years$1,847$1,442$1,113$852$647$509
24 years$1,751$1,351$1,030$777$581$452
25 years$1,663$1,268$954$710$523$401
26 years$1,582$1,191$885$649$471$357
27 years$1,507$1,121$821$594$425$317
28 years$1,438$1,056$764$544$383$282
29 years$1,373$997$711$499$346$252
30 years$1,313$941$662$458$313$224
31 years$1,257$890$617$421$283$200
32 years$1,204$842$576$387$256$178
33 years$1,155$797$538$355$231$159
34 years$1,109$756$502$327$210$142
35 years$1,065$717$470$301$190$127
36 years$1,024$680$439$277$172$113
37 years$986$646$411$255$156$101
38 years$949$614$385$235$141$91
39 years$915$584$361$217$128$81
40 years$882$556$338$200$116$72
41 years$851$529$317$185$105$65
42 years$821$504$297$171$96$58
43 years$793$480$279$157$87$52
44 years$766$457$262$145$79$46
45 years$741$436$246$134$72$41
46 years$717$416$231$124$65$37
47 years$693$397$217$115$59$33
48 years$671$379$204$106$54$30
49 years$650$362$192$98$49$27
50 years$630$346$180$90$44$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $645,000, adding $5,016 every year, while hoping to spend $45,535 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: 61/29/10 Blend
57$645,000$645,000$645,000$645,000
58$715,964$681,779$671,782$757,705
59$740,543$666,737$645,837$771,249
60$766,104$649,432$617,498$780,360
61$792,697$629,705$586,635$789,171
62$820,379$607,388$553,114$797,655
63$849,210$582,302$516,795$805,785
64$879,254$554,259$477,532$813,530
65$910,580$523,060$435,172$820,861
66$943,263$488,494$389,554$827,748
67$977,383$450,338$340,512$834,159
68$1,013,028$408,356$287,871$840,065
69$1,050,291$362,300$231,449$845,433
70$1,089,274$311,905$171,055$850,232
71$1,130,087$256,895$106,492$854,431
72$1,172,848$196,976$37,552$858,000
73$1,217,687$131,836$0$860,907
74$1,264,743$61,148$0$866,969
75$1,314,169$0$0$876,840
76$1,366,130$0$0$891,434
77$1,420,806$0$0$927,341
78$1,478,390$0$0$965,176
79$1,539,098$0$0$1,005,083
80$1,603,160$0$0$1,047,217
81$1,670,829$0$0$1,091,746
82$1,742,381$0$0$1,138,855
83$1,818,117$0$0$1,188,745
84$1,898,365$0$0$1,241,636
85$1,983,484$0$0$1,297,769
86$2,073,868$0$0$1,357,407
87$2,169,945$0$0$1,420,836
88$2,272,185$0$0$1,488,371
89$2,381,102$0$0$1,560,358
90$2,497,259$0$0$1,637,173
91$2,621,272$0$0$1,719,228
92$2,753,817$0$0$1,806,978
93$2,895,636$0$0$1,900,919
94$3,047,538$0$0$2,001,595
95$3,210,416$0$0$2,109,604
96$3,385,247$0$0$2,225,601
97$3,573,102$0$0$2,350,305
98$3,775,159$0$0$2,484,506
99$3,992,711$0$0$2,629,072
100$4,227,176$0$0$2,784,955