Can I retire at age 58 with 677,000?

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 $677,000?

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$55,906$55,408$54,922$54,448$53,985$53,622
2 years$27,676$27,161$26,661$26,177$25,707$25,341
3 years$18,268$17,750$17,252$16,772$16,310$15,952
4 years$13,564$13,048$12,555$12,083$11,632$11,286
5 years$10,743$10,230$9,743$9,281$8,843$8,508
6 years$8,863$8,353$7,874$7,422$6,997$6,675
7 years$7,520$7,015$6,543$6,102$5,690$5,381
8 years$6,514$6,013$5,549$5,119$4,721$4,424
9 years$5,731$5,236$4,779$4,360$3,975$3,691
10 years$5,106$4,615$4,167$3,759$3,387$3,115
11 years$4,594$4,108$3,668$3,271$2,913$2,653
12 years$4,168$3,688$3,256$2,869$2,525$2,277
13 years$3,808$3,332$2,909$2,533$2,201$1,965
14 years$3,500$3,029$2,613$2,249$1,930$1,705
15 years$3,233$2,767$2,360$2,005$1,699$1,485
16 years$2,999$2,539$2,139$1,796$1,502$1,299
17 years$2,794$2,338$1,947$1,613$1,331$1,139
18 years$2,611$2,161$1,777$1,454$1,184$1,002
19 years$2,448$2,002$1,627$1,314$1,055$883
20 years$2,301$1,861$1,493$1,190$943$779
21 years$2,168$1,733$1,373$1,080$843$689
22 years$2,048$1,618$1,266$982$756$611
23 years$1,938$1,513$1,169$894$679$542
24 years$1,838$1,418$1,081$816$610$481
25 years$1,745$1,330$1,001$745$549$428
26 years$1,660$1,250$928$681$494$380
27 years$1,582$1,177$862$623$446$339
28 years$1,509$1,109$801$571$402$302
29 years$1,441$1,046$746$524$363$269
30 years$1,378$988$695$481$328$240
31 years$1,319$934$648$441$297$214
32 years$1,264$884$604$406$268$191
33 years$1,212$837$564$373$243$171
34 years$1,164$793$527$343$220$153
35 years$1,118$752$493$316$199$136
36 years$1,075$714$461$291$180$122
37 years$1,035$678$432$268$164$109
38 years$996$645$404$247$148$98
39 years$960$613$379$228$134$87
40 years$926$583$355$210$122$78
41 years$893$555$333$194$111$70
42 years$862$529$312$179$100$63
43 years$832$504$293$165$91$56
44 years$804$480$275$153$83$50
45 years$778$458$258$141$75$45
46 years$752$437$242$130$68$40
47 years$728$417$228$120$62$36
48 years$705$398$214$111$56$32
49 years$682$380$201$103$51$29
50 years$661$363$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 $677,000, adding $6,854 every year, while hoping to spend $22,028 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: 47/42/11 Blend
57$677,000$677,000$677,000$677,000
58$753,124$717,243$706,749$785,912
59$806,505$728,950$706,988$820,948
60$864,593$740,493$706,496$856,117
61$927,844$751,840$705,226$893,787
62$996,761$762,957$703,128$934,198
63$1,071,897$773,808$700,150$977,615
64$1,153,861$784,356$696,236$1,024,330
65$1,243,324$794,558$691,329$1,074,666
66$1,341,023$804,371$685,368$1,128,978
67$1,447,769$813,747$678,290$1,187,659
68$1,564,458$822,637$670,028$1,251,142
69$1,692,072$830,986$660,515$1,319,906
70$1,831,697$838,738$649,675$1,394,479
71$1,984,525$845,831$637,434$1,475,443
72$2,151,870$852,201$623,712$1,563,442
73$2,335,180$857,777$608,425$1,659,184
74$2,536,047$862,487$591,486$1,763,453
75$2,756,228$866,253$572,805$1,877,113
76$2,997,654$868,990$552,284$2,001,118
77$3,262,455$870,611$529,826$2,136,520
78$3,552,975$871,020$505,325$2,284,480
79$3,871,797$870,119$478,672$2,446,280
80$4,221,767$867,801$449,754$2,623,334
81$4,606,017$863,953$418,451$2,817,201
82$5,028,000$858,457$384,638$3,029,602
83$5,491,519$851,184$348,186$3,262,438
84$6,000,762$842,000$308,959$3,517,802
85$6,560,345$830,764$266,815$3,798,006
86$7,175,352$817,323$221,605$4,105,601
87$7,851,385$801,518$173,175$4,443,399
88$8,594,613$783,180$121,363$4,814,504
89$9,411,835$762,128$66,001$5,222,339
90$10,310,543$738,172$6,912$5,670,678
91$11,298,987$711,111$0$6,163,688
92$12,386,261$680,733$0$6,712,552
93$13,582,383$646,812$0$7,317,041
94$14,898,390$609,110$0$7,981,955
95$16,346,443$567,374$0$8,713,481
96$17,939,943$521,338$0$9,518,442
97$19,693,654$470,720$0$10,404,362
98$21,623,845$415,223$0$11,379,534
99$23,748,440$354,532$0$12,453,105
100$26,087,191$288,315$0$13,635,158