Can I retire at age 58 with 691,000?

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 $691,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$57,062$56,554$56,058$55,574$55,101$54,777
2 years$28,249$27,722$27,213$26,718$26,239$25,912
3 years$18,645$18,117$17,608$17,119$16,647$16,327
4 years$13,845$13,318$12,814$12,333$11,873$11,563
5 years$10,965$10,441$9,944$9,473$9,025$8,726
6 years$9,046$8,526$8,037$7,576$7,142$6,853
7 years$7,676$7,160$6,678$6,228$5,808$5,531
8 years$6,648$6,138$5,664$5,225$4,818$4,552
9 years$5,850$5,344$4,878$4,450$4,058$3,803
10 years$5,211$4,710$4,253$3,836$3,457$3,213
11 years$4,689$4,193$3,744$3,339$2,973$2,740
12 years$4,255$3,764$3,323$2,928$2,577$2,354
13 years$3,887$3,401$2,969$2,585$2,247$2,035
14 years$3,572$3,092$2,668$2,295$1,970$1,767
15 years$3,300$2,824$2,408$2,047$1,734$1,542
16 years$3,061$2,591$2,184$1,833$1,533$1,350
17 years$2,851$2,386$1,987$1,647$1,359$1,186
18 years$2,665$2,205$1,814$1,484$1,208$1,044
19 years$2,498$2,044$1,660$1,341$1,077$921
20 years$2,348$1,899$1,524$1,214$962$815
21 years$2,213$1,769$1,402$1,102$861$722
22 years$2,090$1,651$1,292$1,002$772$640
23 years$1,978$1,544$1,193$913$693$569
24 years$1,876$1,447$1,103$832$623$506
25 years$1,782$1,358$1,022$760$560$450
26 years$1,695$1,276$948$695$505$401
27 years$1,614$1,201$880$636$455$358
28 years$1,540$1,132$818$583$411$319
29 years$1,471$1,068$761$535$371$285
30 years$1,407$1,008$709$491$335$255
31 years$1,346$953$661$451$303$228
32 years$1,290$902$617$414$274$204
33 years$1,237$854$576$381$248$182
34 years$1,188$810$538$350$224$163
35 years$1,141$768$503$323$203$146
36 years$1,097$729$471$297$184$131
37 years$1,056$692$440$274$167$117
38 years$1,017$658$412$252$151$105
39 years$980$626$386$233$137$94
40 years$945$595$362$215$124$84
41 years$911$567$340$198$113$76
42 years$880$540$319$183$102$68
43 years$850$514$299$169$93$61
44 years$821$490$281$156$84$54
45 years$794$467$264$144$77$49
46 years$768$446$247$133$70$44
47 years$743$425$233$123$63$39
48 years$719$406$218$113$57$35
49 years$696$388$205$105$52$32
50 years$675$370$193$97$47$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $691,000, adding $3,409 every year, while hoping to spend $58,371 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: 42/37/21 Blend
57$691,000$691,000$691,000$691,000
58$764,998$728,375$717,665$792,295
59$780,922$701,959$679,600$785,614
60$796,513$672,293$638,304$772,486
61$811,677$639,155$593,607$757,079
62$826,306$602,311$545,331$739,214
63$840,280$561,515$493,290$718,699
64$853,464$516,505$437,291$695,328
65$865,709$467,005$377,132$668,882
66$876,847$412,724$312,601$639,123
67$886,689$353,352$243,477$605,798
68$895,029$288,563$169,531$568,633
69$901,633$218,013$90,521$527,335
70$906,242$141,339$6,196$481,589
71$908,570$58,156$0$431,056
72$908,297$0$0$394,147
73$905,069$0$0$367,402
74$898,491$0$0$362,735
75$888,127$0$0$356,265
76$873,492$0$0$347,765
77$854,051$0$0$336,986
78$829,207$0$0$323,651
79$798,302$0$0$307,453
80$760,608$0$0$288,053
81$715,316$0$0$265,074
82$661,534$0$0$238,103
83$598,274$0$0$206,679
84$524,443$0$0$170,295
85$438,834$0$0$128,389
86$340,110$0$0$80,343
87$226,797$0$0$25,469
88$97,264$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0