Can I retire at age 58 with 702,000?

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 $702,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$57,971$57,454$56,950$56,459$55,978$55,074
2 years$28,698$28,164$27,646$27,144$26,656$25,747
3 years$18,942$18,405$17,889$17,391$16,912$16,027
4 years$14,065$13,530$13,018$12,529$12,062$11,208
5 years$11,140$10,608$10,103$9,624$9,169$8,348
6 years$9,190$8,662$8,165$7,696$7,255$6,469
7 years$7,798$7,274$6,785$6,327$5,900$5,148
8 years$6,754$6,235$5,754$5,308$4,895$4,177
9 years$5,943$5,429$4,956$4,521$4,122$3,438
10 years$5,294$4,785$4,321$3,897$3,512$2,862
11 years$4,764$4,260$3,804$3,392$3,021$2,403
12 years$4,322$3,824$3,376$2,975$2,618$2,032
13 years$3,949$3,456$3,016$2,627$2,283$1,728
14 years$3,629$3,141$2,710$2,332$2,001$1,476
15 years$3,352$2,869$2,447$2,079$1,762$1,266
16 years$3,110$2,633$2,218$1,862$1,557$1,090
17 years$2,897$2,424$2,019$1,673$1,381$941
18 years$2,707$2,240$1,843$1,508$1,228$814
19 years$2,538$2,076$1,687$1,362$1,094$705
20 years$2,386$1,929$1,548$1,234$977$612
21 years$2,248$1,797$1,424$1,120$875$532
22 years$2,124$1,678$1,312$1,018$784$463
23 years$2,010$1,569$1,212$927$704$404
24 years$1,906$1,470$1,121$846$633$352
25 years$1,810$1,380$1,038$772$569$308
26 years$1,722$1,297$963$706$513$269
27 years$1,640$1,220$894$646$462$235
28 years$1,565$1,150$831$592$417$205
29 years$1,494$1,085$773$543$377$180
30 years$1,429$1,024$720$498$340$157
31 years$1,368$968$672$458$308$138
32 years$1,311$916$627$421$278$121
33 years$1,257$868$585$387$252$106
34 years$1,207$822$547$356$228$93
35 years$1,160$780$511$328$207$81
36 years$1,115$740$478$302$187$71
37 years$1,073$703$447$278$170$63
38 years$1,033$668$419$256$154$55
39 years$995$635$393$236$139$48
40 years$960$605$368$218$126$42
41 years$926$576$345$201$115$37
42 years$894$548$324$186$104$32
43 years$863$522$304$171$94$29
44 years$834$498$285$158$86$25
45 years$806$475$268$146$78$22
46 years$780$453$251$135$71$19
47 years$755$432$236$125$64$17
48 years$731$413$222$115$58$15
49 years$707$394$209$106$53$13
50 years$685$376$196$98$48$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $702,000, adding $4,316 every year, while hoping to spend $33,425 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: 23/49/28 Blend
57$702,000$702,000$702,000$702,000
58$778,056$740,850$729,969$788,996
59$821,854$741,588$718,859$799,536
60$868,999$741,241$706,257$807,724
61$919,797$739,722$692,076$815,781
62$974,584$736,937$676,229$823,717
63$1,033,731$732,786$658,622$831,549
64$1,097,642$727,163$639,156$839,297
65$1,166,764$719,956$617,730$846,987
66$1,241,586$711,047$594,237$854,650
67$1,322,649$700,309$568,565$862,327
68$1,410,545$687,610$540,598$870,066
69$1,505,925$672,807$510,212$877,924
70$1,609,506$655,752$477,281$885,968
71$1,722,077$636,284$441,671$894,278
72$1,844,504$614,238$403,243$902,949
73$1,977,743$589,435$361,850$912,088
74$2,122,843$561,687$317,342$921,820
75$2,280,958$530,796$269,559$932,292
76$2,453,362$496,550$218,335$943,668
77$2,641,453$458,729$163,497$956,140
78$2,846,771$417,097$104,864$969,925
79$3,071,012$371,405$42,248$985,270
80$3,316,043$321,392$0$1,002,457
81$3,583,918$266,779$0$1,029,146
82$3,876,900$207,274$0$1,072,303
83$4,197,481$142,566$0$1,119,766
84$4,548,402$72,330$0$1,172,060
85$4,932,684$0$0$1,229,773
86$5,353,654$0$0$1,295,599
87$5,814,975$0$0$1,410,593
88$6,320,682$0$0$1,536,776
89$6,875,216$0$0$1,675,273
90$7,483,472$0$0$1,827,321
91$8,150,841$0$0$1,994,285
92$8,883,259$0$0$2,177,667
93$9,687,266$0$0$2,379,123
94$10,570,066$0$0$2,600,477
95$11,539,594$0$0$2,843,738
96$12,604,593$0$0$3,111,118
97$13,774,693$0$0$3,405,057
98$15,060,502$0$0$3,728,240
99$16,473,709$0$0$4,083,629
100$18,027,190$0$0$4,474,482