Can I retire at age 58 with 648,000?

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 $648,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$53,511$53,035$52,570$52,116$51,672$49,859
2 years$26,491$25,997$25,519$25,056$24,606$22,798
3 years$17,485$16,990$16,513$16,053$15,611$13,865
4 years$12,983$12,489$12,017$11,566$11,134$9,464
5 years$10,283$9,792$9,326$8,883$8,464$6,874
6 years$8,483$7,996$7,537$7,104$6,697$5,188
7 years$7,198$6,715$6,263$5,841$5,447$4,019
8 years$6,235$5,756$5,311$4,900$4,518$3,170
9 years$5,486$5,011$4,575$4,173$3,805$2,535
10 years$4,887$4,417$3,988$3,598$3,242$2,048
11 years$4,397$3,932$3,511$3,131$2,788$1,668
12 years$3,990$3,530$3,116$2,746$2,416$1,366
13 years$3,645$3,190$2,784$2,425$2,107$1,125
14 years$3,350$2,899$2,502$2,152$1,847$930
15 years$3,094$2,649$2,259$1,919$1,626$772
16 years$2,871$2,430$2,048$1,719$1,437$642
17 years$2,674$2,238$1,863$1,544$1,274$535
18 years$2,499$2,068$1,701$1,392$1,133$446
19 years$2,343$1,917$1,557$1,257$1,010$373
20 years$2,202$1,781$1,429$1,139$902$313
21 years$2,075$1,659$1,314$1,034$807$262
22 years$1,960$1,549$1,211$940$724$220
23 years$1,855$1,448$1,119$856$650$184
24 years$1,759$1,357$1,035$781$584$155
25 years$1,671$1,273$958$713$525$130
26 years$1,589$1,197$889$652$473$109
27 years$1,514$1,126$825$597$427$92
28 years$1,444$1,061$767$547$385$77
29 years$1,379$1,001$714$501$348$65
30 years$1,319$946$665$460$314$55
31 years$1,263$894$620$423$284$46
32 years$1,210$846$578$388$257$39
33 years$1,160$801$540$357$232$33
34 years$1,114$759$505$329$210$28
35 years$1,070$720$472$302$191$23
36 years$1,029$683$441$279$173$20
37 years$990$649$413$257$157$16
38 years$954$617$387$237$142$14
39 years$919$587$362$218$129$12
40 years$886$558$340$201$117$10
41 years$855$531$319$186$106$8
42 years$825$506$299$171$96$7
43 years$797$482$280$158$87$6
44 years$770$460$263$146$79$5
45 years$744$438$247$135$72$4
46 years$720$418$232$125$65$4
47 years$697$399$218$115$59$3
48 years$674$381$205$106$54$2
49 years$653$364$193$98$49$2
50 years$633$347$181$91$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $648,000, adding $6,604 every year, while hoping to spend $35,259 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: 28/43/29 Blend
57$648,000$648,000$648,000$648,000
58$720,908$686,564$676,520$734,491
59$756,925$682,690$661,668$742,036
60$795,435$677,445$645,137$746,668
61$836,653$670,724$626,833$750,941
62$880,818$662,416$606,659$754,849
63$928,191$652,404$584,511$758,390
64$979,059$640,564$560,284$761,563
65$1,033,735$626,763$533,866$764,373
66$1,092,564$610,863$505,139$766,828
67$1,155,926$592,716$473,981$768,941
68$1,224,236$572,165$440,265$770,734
69$1,297,952$549,044$403,858$772,232
70$1,377,575$523,179$364,619$773,468
71$1,463,658$494,385$322,404$774,488
72$1,556,806$462,465$277,060$775,343
73$1,657,687$427,213$228,428$776,099
74$1,767,033$388,409$176,343$776,833
75$1,885,652$345,822$120,631$777,638
76$2,014,428$299,207$61,112$778,623
77$2,154,337$248,306$0$779,916
78$2,306,452$192,845$0$782,410
79$2,471,952$132,536$0$805,761
80$2,652,136$67,076$0$831,303
81$2,848,432$0$0$859,331
82$3,062,413$0$0$892,002
83$3,295,807$0$0$962,350
84$3,550,521$0$0$1,039,225
85$3,828,649$0$0$1,123,270
86$4,132,499$0$0$1,215,196
87$4,464,612$0$0$1,315,785
88$4,827,784$0$0$1,425,898
89$5,225,095$0$0$1,546,484
90$5,659,936$0$0$1,678,586
91$6,136,039$0$0$1,823,355
92$6,657,517$0$0$1,982,058
93$7,228,897$0$0$2,156,089
94$7,855,165$0$0$2,346,985
95$8,541,814$0$0$2,556,438
96$9,294,892$0$0$2,786,313
97$10,121,061$0$0$3,038,661
98$11,027,659$0$0$3,315,746
99$12,022,769$0$0$3,620,058
100$13,115,294$0$0$3,954,343