Can I retire at age 58 with 700,000?

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 $700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$57,805$57,290$56,788$56,298$55,819$54,714
2 years$28,617$28,084$27,567$27,066$26,580$25,472
3 years$18,888$18,353$17,838$17,342$16,864$15,786
4 years$14,025$13,491$12,981$12,494$12,027$10,989
5 years$11,108$10,577$10,074$9,596$9,143$8,147
6 years$9,164$8,637$8,141$7,674$7,235$6,282
7 years$7,776$7,254$6,765$6,309$5,884$4,975
8 years$6,735$6,218$5,738$5,293$4,881$4,015
9 years$5,926$5,414$4,942$4,508$4,111$3,287
10 years$5,279$4,772$4,308$3,886$3,502$2,721
11 years$4,750$4,248$3,793$3,382$3,012$2,272
12 years$4,310$3,813$3,366$2,967$2,610$1,910
13 years$3,938$3,446$3,008$2,619$2,276$1,615
14 years$3,619$3,132$2,702$2,325$1,995$1,371
15 years$3,343$2,861$2,440$2,073$1,757$1,169
16 years$3,101$2,625$2,212$1,857$1,553$1,000
17 years$2,889$2,418$2,013$1,668$1,377$857
18 years$2,700$2,234$1,837$1,503$1,224$737
19 years$2,531$2,070$1,682$1,358$1,091$634
20 years$2,379$1,924$1,544$1,230$975$547
21 years$2,242$1,792$1,420$1,117$872$472
22 years$2,117$1,673$1,309$1,015$782$408
23 years$2,004$1,565$1,208$925$702$353
24 years$1,900$1,466$1,118$843$631$306
25 years$1,805$1,376$1,035$770$568$265
26 years$1,717$1,293$960$704$511$230
27 years$1,635$1,217$891$645$461$200
28 years$1,560$1,147$829$591$416$173
29 years$1,490$1,082$771$542$376$151
30 years$1,425$1,021$718$497$339$131
31 years$1,364$966$670$456$307$114
32 years$1,307$914$625$419$278$99
33 years$1,254$865$583$386$251$86
34 years$1,203$820$545$355$227$75
35 years$1,156$778$510$327$206$65
36 years$1,112$738$477$301$187$57
37 years$1,070$701$446$277$169$49
38 years$1,030$666$418$256$153$43
39 years$993$634$391$236$139$37
40 years$957$603$367$217$126$33
41 years$923$574$344$201$114$28
42 years$891$547$323$185$104$25
43 years$861$521$303$171$94$21
44 years$832$496$284$158$86$19
45 years$804$473$267$146$78$16
46 years$778$452$251$135$70$14
47 years$753$431$236$124$64$12
48 years$728$411$221$115$58$11
49 years$705$393$208$106$53$9
50 years$683$375$196$98$48$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $700,000, adding $5,611 every year, while hoping to spend $36,702 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: 26/48/26 Blend
57$700,000$700,000$700,000$700,000
58$777,188$740,088$729,238$790,942
59$817,410$737,301$714,617$799,769
60$860,505$733,148$698,275$805,707
61$906,727$727,523$680,118$811,314
62$956,355$720,313$660,044$816,585
63$1,009,695$711,400$637,947$821,522
64$1,067,083$700,658$613,717$826,127
65$1,128,888$687,953$587,239$830,407
66$1,195,515$673,143$558,392$834,376
67$1,267,410$656,080$527,051$838,052
68$1,345,062$636,604$493,083$841,459
69$1,429,008$614,547$456,352$844,631
70$1,519,840$589,733$416,712$847,608
71$1,618,206$561,972$374,014$850,442
72$1,724,820$531,066$328,101$853,195
73$1,840,469$496,805$278,809$855,943
74$1,966,014$458,966$225,967$858,774
75$2,102,407$417,314$169,396$861,794
76$2,250,691$371,601$108,909$865,128
77$2,412,016$321,564$44,312$868,921
78$2,587,646$266,926$0$873,340
79$2,778,973$207,392$0$885,412
80$2,987,528$142,654$0$912,090
81$3,214,997$72,385$0$941,387
82$3,463,233$0$0$973,659
83$3,734,280$0$0$1,011,295
84$4,030,383$0$0$1,094,287
85$4,354,019$0$0$1,185,110
86$4,707,910$0$0$1,284,541
87$5,095,056$0$0$1,393,438
88$5,518,759$0$0$1,512,746
89$5,982,657$0$0$1,643,505
90$6,490,753$0$0$1,786,859
91$7,047,457$0$0$1,944,071
92$7,657,627$0$0$2,116,529
93$8,326,611$0$0$2,305,764
94$9,060,301$0$0$2,513,461
95$9,865,184$0$0$2,741,478
96$10,748,409$0$0$2,991,859
97$11,717,847$0$0$3,266,858
98$12,782,171$0$0$3,568,956
99$13,950,933$0$0$3,900,887
100$15,234,655$0$0$4,265,665