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%12.8%
1 years$53,676$53,198$52,732$52,276$51,832$51,227
2 years$26,572$26,078$25,598$25,133$24,682$24,073
3 years$17,539$17,042$16,564$16,103$15,659$15,065
4 years$13,023$12,528$12,054$11,601$11,168$10,594
5 years$10,314$9,822$9,354$8,911$8,490$7,936
6 years$8,509$8,020$7,560$7,126$6,718$6,186
7 years$7,220$6,735$6,282$5,859$5,463$4,954
8 years$6,254$5,773$5,328$4,915$4,532$4,045
9 years$5,503$5,027$4,589$4,186$3,817$3,351
10 years$4,902$4,431$4,001$3,609$3,252$2,808
11 years$4,411$3,945$3,522$3,141$2,797$2,374
12 years$4,002$3,540$3,126$2,755$2,424$2,022
13 years$3,656$3,200$2,793$2,432$2,114$1,732
14 years$3,360$2,908$2,509$2,159$1,853$1,491
15 years$3,104$2,657$2,266$1,925$1,631$1,288
16 years$2,880$2,438$2,054$1,724$1,442$1,117
17 years$2,682$2,245$1,869$1,549$1,278$972
18 years$2,507$2,074$1,706$1,396$1,137$847
19 years$2,350$1,923$1,562$1,261$1,013$740
20 years$2,209$1,786$1,433$1,142$905$648
21 years$2,082$1,664$1,319$1,037$810$568
22 years$1,966$1,553$1,215$943$726$499
23 years$1,861$1,453$1,122$858$652$438
24 years$1,764$1,361$1,038$783$586$386
25 years$1,676$1,277$961$715$527$340
26 years$1,594$1,201$891$654$475$299
27 years$1,519$1,130$828$598$428$264
28 years$1,449$1,065$769$548$386$233
29 years$1,384$1,004$716$503$349$206
30 years$1,323$949$667$461$315$182
31 years$1,267$897$622$424$285$161
32 years$1,214$848$580$390$258$142
33 years$1,164$803$542$358$233$126
34 years$1,117$762$506$330$211$111
35 years$1,074$722$473$303$191$98
36 years$1,032$686$443$279$173$87
37 years$993$651$414$257$157$77
38 years$957$619$388$237$142$68
39 years$922$588$364$219$129$60
40 years$889$560$341$202$117$53
41 years$857$533$319$186$106$47
42 years$828$508$300$172$96$42
43 years$799$484$281$159$87$37
44 years$772$461$264$146$79$33
45 years$747$440$248$135$72$29
46 years$722$419$233$125$65$26
47 years$699$400$219$115$59$23
48 years$676$382$206$107$54$20
49 years$655$365$193$99$49$18
50 years$635$348$182$91$45$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $650,000, adding $5,287 every year, while hoping to spend $22,818 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: 71/18/11 Blend
57$650,000$650,000$650,000$650,000
58$721,754$687,304$677,229$771,019
59$771,094$696,703$675,638$813,743
60$824,703$705,799$673,228$857,196
61$882,991$714,551$669,950$904,148
62$946,410$722,919$665,748$954,940
63$1,015,459$730,857$660,565$1,009,947
64$1,090,686$738,318$654,344$1,069,580
65$1,172,692$745,252$647,021$1,134,296
66$1,262,142$751,605$638,531$1,204,596
67$1,359,765$757,318$628,807$1,281,033
68$1,466,366$762,332$617,777$1,364,215
69$1,582,829$766,580$605,366$1,454,816
70$1,710,129$769,993$591,497$1,553,574
71$1,849,337$772,498$576,087$1,661,306
72$2,001,636$774,017$559,052$1,778,911
73$2,168,324$774,465$540,301$1,907,381
74$2,350,833$773,754$519,742$2,047,809
75$2,550,741$771,791$497,276$2,201,400
76$2,769,784$768,475$472,802$2,369,481
77$3,009,873$763,702$446,212$2,553,518
78$3,273,114$757,358$417,395$2,755,122
79$3,561,828$749,324$386,233$2,976,075
80$3,878,568$739,475$352,606$3,218,337
81$4,226,149$727,676$316,385$3,484,071
82$4,607,670$713,786$277,438$3,775,659
83$5,026,546$697,655$235,626$4,095,729
84$5,486,537$679,124$190,803$4,447,177
85$5,991,787$658,024$142,817$4,833,196
86$6,546,859$634,177$91,512$5,257,306
87$7,156,782$607,395$36,721$5,723,386
88$7,827,094$577,478$0$6,235,713
89$8,563,899$544,215$0$6,801,554
90$9,373,918$507,383$0$7,428,319
91$10,264,559$466,746$0$8,117,444
92$11,243,982$422,055$0$8,875,266
93$12,321,179$373,046$0$9,708,771
94$13,506,054$319,440$0$10,625,656
95$14,809,522$260,943$0$11,634,405
96$16,243,608$197,244$0$12,744,368
97$17,821,561$128,015$0$13,965,849
98$19,557,981$52,908$0$15,310,205
99$21,468,952$0$0$16,789,952
100$23,572,197$0$0$18,424,519