Can I retire at age 58 with 695,000?

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 $695,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$57,392$56,881$56,382$55,896$55,420$55,140
2 years$28,412$27,883$27,370$26,873$26,391$26,108
3 years$18,753$18,222$17,710$17,218$16,743$16,467
4 years$13,925$13,395$12,889$12,404$11,941$11,673
5 years$11,028$10,502$10,002$9,528$9,078$8,819
6 years$9,098$8,576$8,083$7,619$7,183$6,933
7 years$7,720$7,202$6,717$6,264$5,842$5,602
8 years$6,687$6,173$5,697$5,255$4,846$4,616
9 years$5,884$5,375$4,907$4,476$4,081$3,860
10 years$5,241$4,738$4,278$3,858$3,477$3,266
11 years$4,716$4,218$3,766$3,358$2,991$2,788
12 years$4,279$3,786$3,342$2,945$2,592$2,398
13 years$3,909$3,421$2,986$2,600$2,260$2,076
14 years$3,593$3,110$2,683$2,308$1,981$1,806
15 years$3,319$2,841$2,422$2,059$1,744$1,577
16 years$3,079$2,606$2,196$1,843$1,542$1,383
17 years$2,868$2,400$1,998$1,656$1,367$1,216
18 years$2,680$2,218$1,824$1,493$1,215$1,072
19 years$2,513$2,056$1,670$1,349$1,083$948
20 years$2,362$1,910$1,533$1,221$968$839
21 years$2,226$1,779$1,410$1,109$866$745
22 years$2,102$1,661$1,299$1,008$776$662
23 years$1,990$1,553$1,200$918$697$589
24 years$1,887$1,455$1,110$837$626$524
25 years$1,792$1,366$1,028$765$564$467
26 years$1,705$1,284$953$699$508$417
27 years$1,624$1,208$885$640$458$373
28 years$1,549$1,138$823$586$413$333
29 years$1,479$1,074$766$538$373$298
30 years$1,415$1,014$713$493$337$267
31 years$1,354$959$665$453$305$239
32 years$1,298$907$620$416$276$214
33 years$1,245$859$579$383$249$192
34 years$1,195$814$541$352$226$172
35 years$1,148$772$506$324$204$154
36 years$1,104$733$473$299$185$138
37 years$1,062$696$443$275$168$124
38 years$1,023$662$415$254$152$111
39 years$985$629$389$234$138$100
40 years$950$599$364$216$125$90
41 years$917$570$342$199$114$81
42 years$885$543$320$184$103$72
43 years$855$517$301$170$94$65
44 years$826$493$282$157$85$58
45 years$798$470$265$145$77$52
46 years$772$448$249$134$70$47
47 years$747$428$234$123$64$42
48 years$723$408$220$114$58$38
49 years$700$390$207$105$52$34
50 years$679$373$194$97$48$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $695,000, adding $5,054 every year, while hoping to spend $27,387 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: 40/35/25 Blend
57$695,000$695,000$695,000$695,000
58$771,103$734,268$723,496$796,076
59$820,616$741,108$718,593$821,425
60$874,262$747,365$712,609$845,883
61$932,432$752,981$705,477$871,807
62$995,559$757,896$697,129$899,346
63$1,064,118$762,045$687,495$928,667
64$1,138,630$765,358$676,499$959,957
65$1,219,672$767,761$664,062$993,420
66$1,307,873$769,176$650,103$1,029,285
67$1,403,931$769,521$634,536$1,067,807
68$1,508,610$768,705$617,271$1,109,268
69$1,622,753$766,637$598,215$1,153,979
70$1,747,287$763,215$577,268$1,202,289
71$1,883,232$758,335$554,329$1,254,580
72$2,031,712$751,884$529,289$1,311,280
73$2,193,964$743,742$502,037$1,372,861
74$2,371,347$733,785$472,455$1,439,847
75$2,565,363$721,879$440,420$1,512,818
76$2,777,660$707,881$405,804$1,592,416
77$3,010,057$691,643$368,474$1,679,352
78$3,264,554$673,004$328,289$1,774,415
79$3,543,355$651,798$285,103$1,878,476
80$3,848,887$627,846$238,764$1,992,500
81$4,183,822$600,959$189,112$2,117,556
82$4,551,105$570,940$135,980$2,254,826
83$4,953,978$537,575$79,195$2,405,615
84$5,396,011$500,644$18,576$2,571,369
85$5,881,139$459,911$0$2,753,688
86$6,413,694$415,125$0$2,966,640
87$6,998,449$366,024$0$3,205,966
88$7,640,661$312,330$0$3,468,919
89$8,346,123$253,749$0$3,757,945
90$9,121,215$189,969$0$4,075,742
91$9,972,965$120,664$0$4,425,287
92$10,909,117$45,486$0$4,809,866
93$11,938,203$0$0$5,233,104
94$13,069,620$0$0$5,712,841
95$14,313,724$0$0$6,259,723
96$15,681,924$0$0$6,861,257
97$17,186,788$0$0$7,522,984
98$18,842,165$0$0$8,251,007
99$20,663,315$0$0$9,052,049
100$22,667,047$0$0$9,933,519