Can I retire at age 58 with 651,000?

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 $651,000?

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$53,759$53,280$52,813$52,357$51,912$50,090
2 years$26,613$26,118$25,637$25,172$24,720$22,903
3 years$17,566$17,068$16,589$16,128$15,683$13,929
4 years$13,043$12,547$12,073$11,619$11,185$9,508
5 years$10,330$9,837$9,369$8,925$8,503$6,905
6 years$8,522$8,033$7,571$7,137$6,728$5,212
7 years$7,231$6,746$6,292$5,868$5,472$4,037
8 years$6,263$5,782$5,336$4,922$4,539$3,185
9 years$5,511$5,035$4,596$4,193$3,823$2,547
10 years$4,910$4,438$4,007$3,614$3,257$2,057
11 years$4,418$3,951$3,528$3,145$2,801$1,675
12 years$4,008$3,546$3,131$2,759$2,428$1,373
13 years$3,662$3,204$2,797$2,436$2,117$1,130
14 years$3,365$2,913$2,513$2,162$1,856$935
15 years$3,109$2,661$2,269$1,928$1,634$775
16 years$2,884$2,441$2,057$1,727$1,444$645
17 years$2,686$2,248$1,872$1,551$1,280$537
18 years$2,511$2,078$1,709$1,398$1,138$449
19 years$2,354$1,925$1,564$1,263$1,015$375
20 years$2,213$1,789$1,436$1,144$906$314
21 years$2,085$1,667$1,321$1,038$811$263
22 years$1,969$1,556$1,217$944$727$221
23 years$1,864$1,455$1,124$860$653$185
24 years$1,767$1,363$1,039$784$587$156
25 years$1,678$1,279$963$716$528$131
26 years$1,597$1,202$893$655$475$110
27 years$1,521$1,132$829$599$429$92
28 years$1,451$1,066$771$549$387$78
29 years$1,386$1,006$717$504$349$65
30 years$1,325$950$668$462$316$55
31 years$1,269$898$623$424$285$46
32 years$1,216$850$581$390$258$39
33 years$1,166$805$543$359$234$33
34 years$1,119$763$507$330$211$28
35 years$1,075$723$474$304$192$23
36 years$1,034$687$443$280$174$20
37 years$995$652$415$258$157$17
38 years$958$620$389$238$143$14
39 years$923$589$364$219$129$12
40 years$890$561$341$202$117$10
41 years$859$534$320$186$106$8
42 years$829$508$300$172$97$7
43 years$800$484$282$159$88$6
44 years$773$462$264$147$80$5
45 years$748$440$248$135$72$4
46 years$723$420$233$125$66$4
47 years$700$401$219$116$60$3
48 years$677$383$206$107$54$3
49 years$656$365$193$99$49$2
50 years$636$349$182$91$45$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $651,000, adding $2,261 every year, while hoping to spend $21,008 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: 41/48/11 Blend
57$651,000$651,000$651,000$651,000
58$719,734$685,231$675,141$746,810
59$770,795$696,455$675,406$777,266
60$826,359$707,525$674,975$807,945
61$886,865$718,411$673,804$840,681
62$952,794$729,081$671,845$875,670
63$1,024,674$739,502$669,047$913,129
64$1,103,089$749,636$665,358$953,297
65$1,188,680$759,444$660,724$996,437
66$1,282,154$768,884$655,086$1,042,842
67$1,384,286$777,913$648,385$1,092,832
68$1,495,934$786,481$640,556$1,146,763
69$1,618,040$794,539$631,535$1,205,029
70$1,751,639$802,031$621,251$1,268,062
71$1,897,876$808,900$609,632$1,336,340
72$2,058,007$815,084$596,603$1,410,394
73$2,233,418$820,518$582,083$1,490,806
74$2,425,634$825,130$565,990$1,578,221
75$2,636,335$828,848$548,237$1,673,351
76$2,867,371$831,591$528,733$1,776,981
77$3,120,779$833,275$507,382$1,889,979
78$3,398,805$833,812$484,085$2,013,304
79$3,703,920$833,106$458,739$2,148,011
80$4,038,847$831,055$431,235$2,295,269
81$4,406,587$827,554$401,458$2,456,367
82$4,810,443$822,489$369,291$2,632,725
83$5,254,055$815,738$334,610$2,825,916
84$5,741,434$807,174$297,284$3,037,670
85$6,276,997$796,662$257,179$3,269,901
86$6,865,610$784,058$214,154$3,524,719
87$7,512,635$769,209$168,061$3,804,454
88$8,223,978$751,955$118,746$4,111,674
89$9,006,148$732,125$66,048$4,449,218
90$9,866,313$709,537$9,799$4,820,213
91$10,812,374$684,002$0$5,228,114
92$11,853,034$655,315$0$5,682,624
93$12,997,881$623,264$0$6,183,663
94$14,257,482$587,621$0$6,734,739
95$15,643,478$548,147$0$7,340,990
96$17,168,694$504,588$0$8,008,085
97$18,847,265$456,676$0$8,742,273
98$20,694,761$404,129$0$9,550,448
99$22,728,342$346,647$0$10,440,212
100$24,966,914$283,913$0$11,419,947