Can I retire at age 58 with 699,000?

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 $699,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$57,723$57,209$56,707$56,217$55,739$54,260
2 years$28,576$28,043$27,528$27,028$26,542$25,062
3 years$18,861$18,327$17,812$17,317$16,840$15,405
4 years$14,005$13,472$12,963$12,476$12,010$10,632
5 years$11,092$10,562$10,060$9,583$9,130$7,812
6 years$9,151$8,625$8,130$7,663$7,224$5,968
7 years$7,764$7,243$6,756$6,300$5,875$4,681
8 years$6,725$6,209$5,729$5,285$4,874$3,741
9 years$5,917$5,406$4,935$4,502$4,105$3,032
10 years$5,272$4,765$4,302$3,881$3,497$2,483
11 years$4,744$4,242$3,788$3,377$3,008$2,051
12 years$4,304$3,807$3,361$2,962$2,607$1,705
13 years$3,932$3,441$3,003$2,615$2,273$1,425
14 years$3,614$3,128$2,698$2,322$1,992$1,196
15 years$3,338$2,857$2,436$2,070$1,754$1,008
16 years$3,097$2,621$2,209$1,854$1,550$852
17 years$2,884$2,414$2,010$1,666$1,375$721
18 years$2,696$2,231$1,835$1,501$1,222$612
19 years$2,527$2,067$1,680$1,356$1,090$520
20 years$2,376$1,921$1,542$1,228$973$443
21 years$2,239$1,789$1,418$1,115$871$378
22 years$2,114$1,670$1,307$1,014$781$322
23 years$2,001$1,562$1,207$923$701$275
24 years$1,897$1,464$1,116$842$630$235
25 years$1,802$1,374$1,034$769$567$201
26 years$1,714$1,291$959$703$511$172
27 years$1,633$1,215$890$644$460$147
28 years$1,558$1,145$827$590$415$126
29 years$1,488$1,080$770$541$375$108
30 years$1,423$1,020$717$496$339$93
31 years$1,362$964$669$456$306$79
32 years$1,305$912$624$419$277$68
33 years$1,252$864$583$385$251$58
34 years$1,202$819$544$354$227$50
35 years$1,155$777$509$326$206$43
36 years$1,110$737$476$300$186$37
37 years$1,068$700$446$277$169$32
38 years$1,029$665$417$255$153$27
39 years$991$633$391$235$139$23
40 years$956$602$366$217$126$20
41 years$922$573$344$200$114$17
42 years$890$546$322$185$104$15
43 years$859$520$302$171$94$13
44 years$831$496$284$157$85$11
45 years$803$473$267$145$78$9
46 years$777$451$250$134$70$8
47 years$751$430$235$124$64$7
48 years$727$411$221$115$58$6
49 years$704$392$208$106$53$5
50 years$682$375$195$98$48$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $699,000, adding $3,158 every year, while hoping to spend $50,186 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: 59/16/25 Blend
57$699,000$699,000$699,000$699,000
58$773,555$736,508$725,674$813,813
59$799,061$719,200$696,587$824,304
60$825,485$699,361$664,843$830,081
61$852,870$676,815$630,300$835,310
62$881,259$651,375$592,811$839,948
63$910,697$622,842$552,220$843,953
64$941,234$591,007$508,365$847,278
65$972,921$555,648$461,077$849,878
66$1,005,814$516,530$410,178$851,703
67$1,039,973$473,405$355,485$852,702
68$1,075,460$426,012$296,803$852,824
69$1,112,343$374,073$233,932$852,012
70$1,150,695$317,295$166,662$850,213
71$1,190,592$255,369$94,772$847,366
72$1,232,119$187,969$18,033$843,412
73$1,275,364$114,748$0$838,290
74$1,320,424$35,343$0$848,972
75$1,367,401$0$0$864,598
76$1,416,407$0$0$889,272
77$1,467,562$0$0$921,535
78$1,520,996$0$0$955,248
79$1,576,847$0$0$990,501
80$1,635,268$0$0$1,027,391
81$1,696,422$0$0$1,066,023
82$1,760,485$0$0$1,106,512
83$1,827,650$0$0$1,148,981
84$1,898,126$0$0$1,193,564
85$1,972,137$0$0$1,240,407
86$2,049,931$0$0$1,289,669
87$2,131,773$0$0$1,341,522
88$2,217,955$0$0$1,396,153
89$2,308,793$0$0$1,453,768
90$2,404,632$0$0$1,514,588
91$2,505,846$0$0$1,578,857
92$2,612,847$0$0$1,646,839
93$2,726,081$0$0$1,718,824
94$2,846,037$0$0$1,795,128
95$2,973,248$0$0$1,876,096
96$3,108,298$0$0$1,962,106
97$3,251,823$0$0$2,053,569
98$3,404,522$0$0$2,150,939
99$3,567,158$0$0$2,254,710
100$3,740,568$0$0$2,365,423