Can I retire at age 58 with 675,000?

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 $675,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$55,741$55,244$54,760$54,287$53,825$53,464
2 years$27,594$27,081$26,582$26,100$25,631$25,266
3 years$18,214$17,697$17,201$16,722$16,261$15,905
4 years$13,524$13,009$12,518$12,047$11,598$11,252
5 years$10,711$10,200$9,714$9,254$8,816$8,483
6 years$8,836$8,329$7,851$7,400$6,976$6,655
7 years$7,498$6,994$6,524$6,084$5,673$5,365
8 years$6,494$5,996$5,533$5,104$4,707$4,411
9 years$5,714$5,220$4,765$4,347$3,964$3,680
10 years$5,091$4,601$4,155$3,747$3,377$3,106
11 years$4,581$4,096$3,658$3,261$2,905$2,645
12 years$4,156$3,677$3,246$2,861$2,517$2,270
13 years$3,797$3,323$2,900$2,526$2,195$1,959
14 years$3,489$3,020$2,606$2,242$1,924$1,700
15 years$3,223$2,759$2,353$1,999$1,694$1,481
16 years$2,991$2,531$2,133$1,790$1,497$1,295
17 years$2,785$2,331$1,941$1,608$1,328$1,136
18 years$2,603$2,154$1,772$1,450$1,180$999
19 years$2,440$1,996$1,622$1,310$1,052$880
20 years$2,294$1,855$1,489$1,186$940$777
21 years$2,162$1,728$1,369$1,077$841$687
22 years$2,042$1,613$1,262$979$754$609
23 years$1,932$1,509$1,165$892$677$540
24 years$1,832$1,414$1,078$813$608$480
25 years$1,740$1,327$998$743$547$426
26 years$1,655$1,247$926$679$493$379
27 years$1,577$1,173$860$621$444$338
28 years$1,504$1,106$799$569$401$301
29 years$1,437$1,043$744$522$362$268
30 years$1,374$985$693$479$327$239
31 years$1,315$931$646$440$296$214
32 years$1,260$881$602$404$268$191
33 years$1,209$834$563$372$242$170
34 years$1,160$791$526$342$219$152
35 years$1,115$750$491$315$199$136
36 years$1,072$712$460$290$180$122
37 years$1,032$676$430$267$163$109
38 years$993$643$403$246$148$97
39 years$957$611$378$227$134$87
40 years$923$581$354$210$122$78
41 years$890$553$332$193$110$70
42 years$859$527$311$178$100$62
43 years$830$502$292$165$91$56
44 years$802$479$274$152$82$50
45 years$775$456$257$140$75$45
46 years$750$435$242$130$68$40
47 years$726$416$227$120$62$36
48 years$702$397$213$111$56$32
49 years$680$379$201$102$51$29
50 years$659$362$189$95$46$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $675,000, adding $5,690 every year, while hoping to spend $29,555 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: 54/41/5 Blend
57$675,000$675,000$675,000$675,000
58$749,719$713,944$703,482$789,105
59$794,744$717,481$695,602$819,880
60$843,371$720,201$686,468$849,591
61$895,937$722,032$676,006$881,197
62$952,810$722,899$664,140$914,881
63$1,014,397$722,722$650,789$950,848
64$1,081,144$721,414$635,869$989,320
65$1,153,543$718,885$619,293$1,030,548
66$1,232,133$715,040$600,968$1,074,807
67$1,317,509$709,775$580,799$1,122,400
68$1,410,324$702,983$558,684$1,173,666
69$1,511,296$694,548$534,520$1,228,977
70$1,621,217$684,350$508,195$1,288,746
71$1,740,956$672,258$479,594$1,353,429
72$1,871,472$658,137$448,599$1,423,531
73$2,013,818$641,841$415,083$1,499,612
74$2,169,154$623,218$378,914$1,582,288
75$2,338,756$602,105$339,957$1,672,243
76$2,524,032$578,330$298,068$1,770,232
77$2,726,527$551,712$253,097$1,877,089
78$2,947,946$522,059$204,889$1,993,739
79$3,190,163$489,167$153,280$2,121,202
80$3,455,245$452,821$98,100$2,260,605
81$3,745,465$412,795$39,172$2,413,196
82$4,063,328$368,848$0$2,580,350
83$4,411,592$320,725$0$2,764,857
84$4,793,293$268,160$0$2,969,445
85$5,211,777$210,868$0$3,193,889
86$5,670,728$148,550$0$3,440,255
87$6,174,204$80,890$0$3,710,821
88$6,726,673$7,554$0$4,008,103
89$7,333,059$0$0$4,334,878
90$7,998,785$0$0$4,726,614
91$8,729,824$0$0$5,160,591
92$9,532,756$0$0$5,637,318
93$10,414,832$0$0$6,161,108
94$11,384,035$0$0$6,736,710
95$12,449,165$0$0$7,369,360
96$13,619,912$0$0$8,064,823
97$14,906,955$0$0$8,829,453
98$16,322,058$0$0$9,670,249
99$17,878,180$0$0$10,594,922
100$19,589,602$0$0$11,611,968