Can I retire at age 58 with 706,000?

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 $706,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$58,301$57,782$57,275$56,780$56,297$54,064
2 years$28,862$28,324$27,803$27,298$26,808$24,586
3 years$19,050$18,510$17,991$17,490$17,008$14,867
4 years$14,145$13,607$13,093$12,601$12,130$10,086
5 years$11,203$10,668$10,160$9,679$9,221$7,279
6 years$9,242$8,711$8,211$7,740$7,297$5,458
7 years$7,842$7,316$6,823$6,364$5,934$4,199
8 years$6,793$6,271$5,787$5,338$4,923$3,289
9 years$5,977$5,460$4,984$4,547$4,146$2,611
10 years$5,324$4,813$4,345$3,920$3,532$2,093
11 years$4,791$4,284$3,826$3,411$3,038$1,691
12 years$4,347$3,845$3,395$2,992$2,633$1,375
13 years$3,971$3,475$3,033$2,642$2,296$1,123
14 years$3,650$3,159$2,725$2,345$2,012$920
15 years$3,371$2,886$2,461$2,091$1,772$757
16 years$3,128$2,648$2,231$1,872$1,566$624
17 years$2,913$2,438$2,030$1,682$1,389$515
18 years$2,723$2,253$1,853$1,516$1,235$426
19 years$2,553$2,088$1,697$1,370$1,100$353
20 years$2,399$1,940$1,557$1,241$983$293
21 years$2,261$1,807$1,432$1,126$880$243
22 years$2,136$1,687$1,320$1,024$788$202
23 years$2,021$1,578$1,219$932$708$168
24 years$1,916$1,478$1,127$850$636$140
25 years$1,820$1,387$1,044$777$572$116
26 years$1,731$1,304$968$710$516$97
27 years$1,650$1,227$899$650$465$81
28 years$1,574$1,156$836$596$419$67
29 years$1,503$1,091$778$546$379$56
30 years$1,437$1,030$724$501$342$47
31 years$1,376$974$675$460$309$39
32 years$1,318$922$630$423$280$32
33 years$1,264$873$588$389$253$27
34 years$1,214$827$550$358$229$23
35 years$1,166$785$514$330$208$19
36 years$1,121$745$481$303$188$16
37 years$1,079$707$450$280$171$13
38 years$1,039$672$421$258$155$11
39 years$1,001$639$395$238$140$9
40 years$965$608$370$219$127$8
41 years$931$579$347$202$115$6
42 years$899$551$326$187$105$5
43 years$868$525$305$172$95$4
44 years$839$501$287$159$86$4
45 years$811$477$269$147$78$3
46 years$784$455$253$136$71$3
47 years$759$435$238$125$65$2
48 years$735$415$223$116$59$2
49 years$712$396$210$107$53$1
50 years$689$378$197$99$48$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $706,000, adding $6,458 every year, while hoping to spend $21,964 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: 63/10/27 Blend
57$706,000$706,000$706,000$706,000
58$784,673$747,255$736,312$828,098
59$841,341$760,501$737,609$871,540
60$903,052$773,660$738,214$915,990
61$970,298$786,705$738,079$964,066
62$1,043,620$799,605$737,156$1,016,128
63$1,123,613$812,329$735,395$1,072,570
64$1,210,932$824,844$732,741$1,133,830
65$1,306,298$837,112$729,139$1,200,388
66$1,410,505$849,095$724,529$1,272,774
67$1,524,426$860,750$718,850$1,351,574
68$1,649,023$872,033$712,038$1,437,434
69$1,785,356$882,895$704,024$1,531,064
70$1,934,592$893,286$694,738$1,633,249
71$2,098,014$903,151$684,105$1,744,856
72$2,277,037$912,431$672,048$1,866,837
73$2,473,219$921,064$658,486$2,000,245
74$2,688,275$928,984$643,333$2,146,241
75$2,924,094$936,120$626,500$2,306,104
76$3,182,758$942,396$607,894$2,481,245
77$3,466,558$947,732$587,417$2,673,220
78$3,778,020$952,043$564,968$2,883,743
79$4,119,923$955,239$540,440$3,114,708
80$4,495,332$957,223$513,722$3,368,199
81$4,907,621$957,891$484,696$3,646,515
82$5,360,506$957,136$453,242$3,952,193
83$5,858,084$954,842$419,231$4,288,028
84$6,404,865$950,886$382,532$4,657,102
85$7,005,819$945,137$343,005$5,062,812
86$7,666,422$937,458$300,505$5,508,906
87$8,392,706$927,702$254,880$5,999,514
88$9,191,316$915,714$205,973$6,539,190
89$10,069,575$901,329$153,618$7,132,953
90$11,035,550$884,372$97,642$7,786,338
91$12,098,129$864,659$37,866$8,505,447
92$13,267,105$841,994$0$9,297,005
93$14,553,268$816,170$0$10,175,895
94$15,968,506$786,968$0$11,154,951
95$17,525,920$754,155$0$12,232,321
96$19,239,941$717,486$0$13,417,999
97$21,126,473$676,701$0$14,722,999
98$23,203,039$631,525$0$16,159,457
99$25,488,948$581,668$0$17,740,746
100$28,005,474$526,823$0$19,481,605