Can I retire at age 58 with 650,000?

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 $650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$53,676$53,198$52,732$52,276$51,832$51,441
2 years$26,572$26,078$25,598$25,133$24,682$24,287
3 years$17,539$17,042$16,564$16,103$15,659$15,274
4 years$13,023$12,528$12,054$11,601$11,168$10,795
5 years$10,314$9,822$9,354$8,911$8,490$8,129
6 years$8,509$8,020$7,560$7,126$6,718$6,371
7 years$7,220$6,735$6,282$5,859$5,463$5,130
8 years$6,254$5,773$5,328$4,915$4,532$4,213
9 years$5,503$5,027$4,589$4,186$3,817$3,511
10 years$4,902$4,431$4,001$3,609$3,252$2,960
11 years$4,411$3,945$3,522$3,141$2,797$2,518
12 years$4,002$3,540$3,126$2,755$2,424$2,158
13 years$3,656$3,200$2,793$2,432$2,114$1,860
14 years$3,360$2,908$2,509$2,159$1,853$1,612
15 years$3,104$2,657$2,266$1,925$1,631$1,402
16 years$2,880$2,438$2,054$1,724$1,442$1,224
17 years$2,682$2,245$1,869$1,549$1,278$1,072
18 years$2,507$2,074$1,706$1,396$1,137$942
19 years$2,350$1,923$1,562$1,261$1,013$829
20 years$2,209$1,786$1,433$1,142$905$731
21 years$2,082$1,664$1,319$1,037$810$645
22 years$1,966$1,553$1,215$943$726$571
23 years$1,861$1,453$1,122$858$652$506
24 years$1,764$1,361$1,038$783$586$448
25 years$1,676$1,277$961$715$527$398
26 years$1,594$1,201$891$654$475$353
27 years$1,519$1,130$828$598$428$314
28 years$1,449$1,065$769$548$386$279
29 years$1,384$1,004$716$503$349$249
30 years$1,323$949$667$461$315$222
31 years$1,267$897$622$424$285$197
32 years$1,214$848$580$390$258$176
33 years$1,164$803$542$358$233$157
34 years$1,117$762$506$330$211$140
35 years$1,074$722$473$303$191$125
36 years$1,032$686$443$279$173$111
37 years$993$651$414$257$157$100
38 years$957$619$388$237$142$89
39 years$922$588$364$219$129$79
40 years$889$560$341$202$117$71
41 years$857$533$319$186$106$63
42 years$828$508$300$172$96$57
43 years$799$484$281$159$87$51
44 years$772$461$264$146$79$45
45 years$747$440$248$135$72$40
46 years$722$419$233$125$65$36
47 years$699$400$219$115$59$32
48 years$676$382$206$107$54$29
49 years$655$365$193$99$49$26
50 years$635$348$182$91$45$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $650,000, adding $6,694 every year, while hoping to spend $51,051 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: 68/12/20 Blend
57$650,000$650,000$650,000$650,000
58$723,205$688,755$678,680$768,359
59$742,654$668,186$647,098$778,832
60$762,376$644,898$612,747$783,719
61$782,344$618,704$575,480$787,827
62$802,529$589,407$535,144$791,077
63$822,895$556,795$491,579$793,382
64$843,401$520,649$444,618$794,650
65$864,001$480,734$394,086$794,781
66$884,641$436,802$339,799$793,665
67$905,260$388,591$281,569$791,186
68$925,790$335,825$219,194$787,215
69$946,152$278,212$152,469$781,614
70$966,257$215,442$81,174$774,233
71$986,007$147,190$5,085$764,911
72$1,005,288$73,112$0$753,471
73$1,023,976$0$0$755,964
74$1,041,929$0$0$759,101
75$1,058,988$0$0$771,201
76$1,074,976$0$0$782,478
77$1,089,697$0$0$792,783
78$1,102,929$0$0$801,949
79$1,114,427$0$0$809,792
80$1,123,915$0$0$816,105
81$1,131,090$0$0$820,659
82$1,135,611$0$0$823,198
83$1,137,102$0$0$823,440
84$1,135,143$0$0$821,070
85$1,129,269$0$0$815,737
86$1,118,964$0$0$807,054
87$1,103,654$0$0$794,591
88$1,082,706$0$0$777,871
89$1,055,415$0$0$756,366
90$1,021,001$0$0$729,490
91$978,603$0$0$696,597
92$927,264$0$0$656,968
93$865,926$0$0$609,811
94$793,421$0$0$554,248
95$708,454$0$0$489,307
96$609,595$0$0$413,917
97$495,262$0$0$326,889
98$363,707$0$0$226,913
99$212,998$0$0$112,541
100$41,001$0$0$0