Can I retire at age 58 with 660,000?

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 $660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$54,502$54,017$53,543$53,081$52,629$52,386
2 years$26,981$26,479$25,992$25,520$25,062$24,816
3 years$17,809$17,304$16,818$16,351$15,900$15,659
4 years$13,224$12,720$12,239$11,780$11,340$11,107
5 years$10,473$9,973$9,498$9,048$8,621$8,395
6 years$8,640$8,144$7,676$7,236$6,821$6,604
7 years$7,331$6,839$6,379$5,949$5,547$5,338
8 years$6,350$5,862$5,410$4,990$4,602$4,401
9 years$5,587$5,104$4,659$4,251$3,876$3,683
10 years$4,977$4,499$4,062$3,664$3,302$3,118
11 years$4,479$4,005$3,576$3,189$2,840$2,664
12 years$4,064$3,595$3,174$2,797$2,461$2,292
13 years$3,713$3,249$2,836$2,469$2,146$1,985
14 years$3,412$2,953$2,548$2,192$1,881$1,728
15 years$3,152$2,698$2,300$1,955$1,656$1,510
16 years$2,924$2,475$2,086$1,750$1,464$1,325
17 years$2,723$2,279$1,898$1,573$1,298$1,166
18 years$2,545$2,106$1,732$1,417$1,154$1,029
19 years$2,386$1,952$1,586$1,281$1,029$910
20 years$2,243$1,814$1,456$1,160$919$807
21 years$2,114$1,690$1,339$1,053$822$716
22 years$1,996$1,577$1,234$957$737$637
23 years$1,889$1,475$1,139$872$662$567
24 years$1,792$1,382$1,054$795$595$505
25 years$1,702$1,297$976$726$535$451
26 years$1,619$1,219$905$664$482$403
27 years$1,542$1,147$840$608$435$360
28 years$1,471$1,081$781$557$392$322
29 years$1,405$1,020$727$511$354$288
30 years$1,343$963$677$469$320$258
31 years$1,286$910$631$430$289$231
32 years$1,232$861$589$395$262$207
33 years$1,182$816$550$364$237$186
34 years$1,135$773$514$335$214$167
35 years$1,090$733$480$308$194$150
36 years$1,048$696$449$284$176$135
37 years$1,009$661$421$261$159$121
38 years$971$628$394$241$145$108
39 years$936$597$369$222$131$97
40 years$902$568$346$205$119$88
41 years$871$541$324$189$108$79
42 years$840$515$304$174$98$71
43 years$812$491$286$161$89$64
44 years$784$468$268$149$81$57
45 years$758$446$252$137$73$51
46 years$733$426$236$127$66$46
47 years$710$406$222$117$60$42
48 years$687$388$209$108$55$37
49 years$665$370$196$100$50$34
50 years$644$354$184$93$45$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $660,000, adding $2,829 every year, while hoping to spend $44,836 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: 62/13/25 Blend
57$660,000$660,000$660,000$660,000
58$730,238$695,258$685,028$770,507
59$757,017$681,621$660,271$784,495
60$785,025$665,812$633,183$794,593
61$814,340$647,679$603,636$804,636
62$845,046$627,059$571,501$814,626
63$877,234$603,778$536,641$824,565
64$911,005$577,656$498,911$834,460
65$946,465$548,499$458,162$844,321
66$983,733$516,104$414,239$854,158
67$1,022,935$480,254$366,977$863,988
68$1,064,209$440,721$316,205$873,829
69$1,107,707$397,265$261,747$883,706
70$1,153,592$349,630$203,415$893,649
71$1,202,044$297,548$141,015$903,693
72$1,253,258$240,733$74,344$913,881
73$1,307,447$178,886$3,191$924,262
74$1,364,843$111,688$0$934,895
75$1,425,701$38,804$0$965,253
76$1,490,298$0$0$998,180
77$1,558,938$0$0$1,038,720
78$1,631,953$0$0$1,087,775
79$1,709,707$0$0$1,140,042
80$1,792,598$0$0$1,195,791
81$1,881,061$0$0$1,255,319
82$1,975,574$0$0$1,318,953
83$2,076,661$0$0$1,387,048
84$2,184,896$0$0$1,459,996
85$2,300,907$0$0$1,538,227
86$2,425,386$0$0$1,622,210
87$2,559,090$0$0$1,712,462
88$2,702,851$0$0$1,809,551
89$2,857,582$0$0$1,914,099
90$3,024,285$0$0$2,026,790
91$3,204,062$0$0$2,148,376
92$3,398,121$0$0$2,279,681
93$3,607,793$0$0$2,421,612
94$3,834,538$0$0$2,575,167
95$4,079,961$0$0$2,741,441
96$4,345,828$0$0$2,921,638
97$4,634,080$0$0$3,117,084
98$4,946,850$0$0$3,329,234
99$5,286,485$0$0$3,559,691
100$5,655,568$0$0$3,810,217