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%14%
1 years$53,676$53,198$52,732$52,276$51,832$50,973
2 years$26,572$26,078$25,598$25,133$24,682$23,819
3 years$17,539$17,042$16,564$16,103$15,659$14,820
4 years$13,023$12,528$12,054$11,601$11,168$10,358
5 years$10,314$9,822$9,354$8,911$8,490$7,711
6 years$8,509$8,020$7,560$7,126$6,718$5,972
7 years$7,220$6,735$6,282$5,859$5,463$4,750
8 years$6,254$5,773$5,328$4,915$4,532$3,852
9 years$5,503$5,027$4,589$4,186$3,817$3,169
10 years$4,902$4,431$4,001$3,609$3,252$2,636
11 years$4,411$3,945$3,522$3,141$2,797$2,212
12 years$4,002$3,540$3,126$2,755$2,424$1,869
13 years$3,656$3,200$2,793$2,432$2,114$1,589
14 years$3,360$2,908$2,509$2,159$1,853$1,356
15 years$3,104$2,657$2,266$1,925$1,631$1,163
16 years$2,880$2,438$2,054$1,724$1,442$1,000
17 years$2,682$2,245$1,869$1,549$1,278$862
18 years$2,507$2,074$1,706$1,396$1,137$745
19 years$2,350$1,923$1,562$1,261$1,013$645
20 years$2,209$1,786$1,433$1,142$905$560
21 years$2,082$1,664$1,319$1,037$810$487
22 years$1,966$1,553$1,215$943$726$423
23 years$1,861$1,453$1,122$858$652$369
24 years$1,764$1,361$1,038$783$586$321
25 years$1,676$1,277$961$715$527$280
26 years$1,594$1,201$891$654$475$245
27 years$1,519$1,130$828$598$428$214
28 years$1,449$1,065$769$548$386$187
29 years$1,384$1,004$716$503$349$163
30 years$1,323$949$667$461$315$143
31 years$1,267$897$622$424$285$125
32 years$1,214$848$580$390$258$109
33 years$1,164$803$542$358$233$96
34 years$1,117$762$506$330$211$84
35 years$1,074$722$473$303$191$73
36 years$1,032$686$443$279$173$64
37 years$993$651$414$257$157$56
38 years$957$619$388$237$142$49
39 years$922$588$364$219$129$43
40 years$889$560$341$202$117$38
41 years$857$533$319$186$106$33
42 years$828$508$300$172$96$29
43 years$799$484$281$159$87$26
44 years$772$461$264$146$79$22
45 years$747$440$248$135$72$20
46 years$722$419$233$125$65$17
47 years$699$400$219$115$59$15
48 years$676$382$206$107$54$13
49 years$655$365$193$99$49$12
50 years$635$348$182$91$45$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $650,000, adding $4,738 every year, while hoping to spend $46,832 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: 37/38/25 Blend
57$650,000$650,000$650,000$650,000
58$721,187$686,737$676,662$742,320
59$744,919$670,558$649,502$742,072
60$769,503$652,017$619,861$737,148
61$794,974$630,949$587,609$730,907
62$821,374$607,178$552,606$723,260
63$848,744$580,519$514,709$714,113
64$877,129$550,777$473,764$703,367
65$906,576$517,745$429,615$690,918
66$937,136$481,204$382,096$676,657
67$968,863$440,922$331,036$660,470
68$1,001,815$396,655$276,253$642,236
69$1,036,052$348,143$217,560$621,827
70$1,071,642$295,115$154,760$599,113
71$1,108,653$237,280$87,649$573,953
72$1,147,163$174,333$16,013$546,202
73$1,187,252$105,954$0$515,706
74$1,229,006$31,800$0$498,427
75$1,272,521$0$0$483,682
76$1,317,895$0$0$487,359
77$1,365,239$0$0$505,087
78$1,414,668$0$0$523,617
79$1,466,310$0$0$542,998
80$1,520,301$0$0$563,283
81$1,576,788$0$0$584,532
82$1,635,932$0$0$606,808
83$1,697,904$0$0$630,180
84$1,762,895$0$0$654,722
85$1,831,105$0$0$680,516
86$1,902,758$0$0$707,650
87$1,978,093$0$0$736,219
88$2,057,372$0$0$766,329
89$2,140,879$0$0$798,093
90$2,228,924$0$0$831,635
91$2,321,844$0$0$867,091
92$2,420,007$0$0$904,608
93$2,523,816$0$0$944,348
94$2,633,707$0$0$986,487
95$2,750,159$0$0$1,031,216
96$2,873,696$0$0$1,078,748
97$3,004,889$0$0$1,129,312
98$3,144,362$0$0$1,183,160
99$3,292,801$0$0$1,240,569
100$3,450,954$0$0$1,301,839