Can I retire at age 58 with 674,000?

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 $674,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$55,658$55,163$54,679$54,207$53,746$52,921
2 years$27,554$27,040$26,543$26,061$25,593$24,764
3 years$18,187$17,671$17,175$16,697$16,237$15,430
4 years$13,504$12,990$12,499$12,030$11,581$10,801
5 years$10,695$10,184$9,700$9,240$8,803$8,054
6 years$8,823$8,316$7,839$7,389$6,966$6,247
7 years$7,487$6,984$6,514$6,075$5,665$4,978
8 years$6,485$5,987$5,525$5,096$4,700$4,043
9 years$5,706$5,212$4,758$4,341$3,958$3,332
10 years$5,083$4,595$4,148$3,742$3,372$2,777
11 years$4,574$4,090$3,652$3,257$2,900$2,335
12 years$4,150$3,671$3,241$2,856$2,513$1,977
13 years$3,791$3,318$2,896$2,522$2,192$1,683
14 years$3,484$3,016$2,602$2,239$1,921$1,440
15 years$3,218$2,755$2,349$1,996$1,692$1,237
16 years$2,986$2,528$2,130$1,788$1,495$1,066
17 years$2,781$2,328$1,938$1,606$1,326$921
18 years$2,599$2,151$1,769$1,447$1,179$798
19 years$2,437$1,993$1,620$1,308$1,051$693
20 years$2,291$1,852$1,486$1,185$938$602
21 years$2,159$1,725$1,367$1,075$840$524
22 years$2,039$1,611$1,260$977$753$457
23 years$1,930$1,506$1,163$890$676$399
24 years$1,830$1,411$1,076$812$607$349
25 years$1,738$1,325$997$741$546$305
26 years$1,653$1,245$924$678$492$267
27 years$1,575$1,172$858$621$444$234
28 years$1,502$1,104$798$569$400$205
29 years$1,435$1,041$743$521$362$179
30 years$1,372$984$692$479$327$157
31 years$1,313$930$645$439$295$138
32 years$1,258$880$602$404$267$121
33 years$1,207$833$562$371$242$106
34 years$1,159$790$525$342$219$93
35 years$1,113$749$491$315$198$82
36 years$1,070$711$459$290$180$72
37 years$1,030$675$430$267$163$63
38 years$992$642$402$246$148$56
39 years$956$610$377$227$134$49
40 years$921$581$353$209$121$43
41 years$889$553$331$193$110$38
42 years$858$526$311$178$100$33
43 years$829$501$292$164$91$29
44 years$801$478$274$152$82$26
45 years$774$456$257$140$75$23
46 years$749$435$241$130$68$20
47 years$725$415$227$120$62$17
48 years$701$396$213$111$56$15
49 years$679$378$200$102$51$13
50 years$658$361$188$94$46$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $674,000, adding $5,163 every year, while hoping to spend $38,492 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: 71/23/6 Blend
57$674,000$674,000$674,000$674,000
58$748,074$712,352$701,905$800,246
59$783,422$706,302$684,463$829,328
60$821,086$698,665$665,147$855,867
61$861,260$689,324$643,854$883,840
62$904,160$678,152$620,474$913,379
63$950,020$665,017$594,896$944,626
64$999,097$649,778$567,000$977,744
65$1,051,674$632,285$536,663$1,012,908
66$1,108,059$612,382$503,755$1,050,316
67$1,168,593$589,900$468,143$1,090,183
68$1,233,647$564,664$429,684$1,132,751
69$1,303,632$536,485$388,231$1,178,286
70$1,378,996$505,166$343,631$1,227,081
71$1,460,233$470,499$295,721$1,279,463
72$1,547,884$432,260$244,335$1,335,791
73$1,642,545$390,218$189,297$1,396,464
74$1,744,869$344,123$130,423$1,461,924
75$1,855,577$293,716$67,523$1,532,657
76$1,975,457$238,720$397$1,609,204
77$2,105,380$178,843$0$1,692,162
78$2,246,300$113,778$0$1,786,750
79$2,399,269$43,199$0$1,889,462
80$2,565,441$0$0$2,001,094
81$2,746,089$0$0$2,130,965
82$2,942,610$0$0$2,284,171
83$3,156,543$0$0$2,450,985
84$3,389,583$0$0$2,632,728
85$3,643,591$0$0$2,830,860
86$3,920,618$0$0$3,046,983
87$4,222,921$0$0$3,282,862
88$4,552,985$0$0$3,540,442
89$4,913,545$0$0$3,821,861
90$5,307,610$0$0$4,129,474
91$5,738,496$0$0$4,465,874
92$6,209,852$0$0$4,833,915
93$6,725,696$0$0$5,236,740
94$7,290,453$0$0$5,677,812
95$7,908,995$0$0$6,160,940
96$8,586,689$0$0$6,690,324
97$9,329,443$0$0$7,270,585
98$10,143,765$0$0$7,906,815
99$11,036,824$0$0$8,604,622
100$12,016,515$0$0$9,370,181