Can I retire at age 58 with 710,000?

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 $710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$58,631$58,109$57,599$57,102$56,616$56,142
2 years$29,025$28,485$27,961$27,453$26,960$26,482
3 years$19,158$18,615$18,093$17,589$17,105$16,638
4 years$14,225$13,684$13,167$12,672$12,199$11,747
5 years$11,266$10,728$10,218$9,733$9,274$8,837
6 years$9,295$8,761$8,258$7,784$7,338$6,918
7 years$7,887$7,357$6,862$6,400$5,968$5,565
8 years$6,831$6,306$5,820$5,368$4,951$4,565
9 years$6,011$5,491$5,012$4,573$4,169$3,800
10 years$5,355$4,840$4,370$3,942$3,552$3,199
11 years$4,818$4,309$3,847$3,430$3,055$2,718
12 years$4,372$3,867$3,414$3,009$2,648$2,326
13 years$3,994$3,495$3,050$2,656$2,309$2,003
14 years$3,670$3,177$2,741$2,358$2,024$1,733
15 years$3,390$2,902$2,475$2,103$1,782$1,506
16 years$3,146$2,663$2,244$1,883$1,575$1,313
17 years$2,930$2,452$2,042$1,692$1,396$1,148
18 years$2,738$2,266$1,864$1,525$1,242$1,007
19 years$2,567$2,100$1,706$1,378$1,107$885
20 years$2,413$1,951$1,566$1,248$989$779
21 years$2,274$1,818$1,440$1,132$885$687
22 years$2,148$1,697$1,327$1,030$793$607
23 years$2,033$1,587$1,226$938$712$537
24 years$1,927$1,487$1,133$855$640$475
25 years$1,830$1,395$1,050$781$576$421
26 years$1,741$1,311$974$714$519$373
27 years$1,659$1,234$904$654$468$331
28 years$1,582$1,163$841$599$422$294
29 years$1,511$1,097$782$549$381$262
30 years$1,445$1,036$729$504$344$233
31 years$1,383$979$679$463$311$207
32 years$1,326$927$634$425$281$184
33 years$1,272$878$592$391$255$164
34 years$1,221$832$553$360$231$146
35 years$1,173$789$517$331$209$130
36 years$1,128$749$484$305$189$116
37 years$1,085$711$453$281$172$103
38 years$1,045$676$424$259$156$92
39 years$1,007$643$397$239$141$82
40 years$971$612$372$220$128$73
41 years$936$582$349$203$116$65
42 years$904$554$327$188$105$58
43 years$873$528$307$173$96$52
44 years$844$503$288$160$87$46
45 years$816$480$271$148$79$41
46 years$789$458$254$136$72$37
47 years$763$437$239$126$65$33
48 years$739$417$225$117$59$29
49 years$716$398$211$108$54$26
50 years$693$381$198$100$49$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $710,000, adding $2,595 every year, while hoping to spend $51,464 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: 70/18/12 Blend
57$710,000$710,000$710,000$710,000
58$785,097$747,467$736,462$837,871
59$810,419$729,335$706,376$855,088
60$836,600$708,591$673,557$867,442
61$863,672$685,050$637,860$879,603
62$891,670$658,521$599,132$891,543
63$920,630$628,799$557,213$903,232
64$950,592$595,668$511,938$914,638
65$981,596$558,899$463,131$925,728
66$1,013,685$518,251$410,612$936,468
67$1,046,904$473,468$354,190$946,820
68$1,081,300$424,280$293,668$956,746
69$1,116,925$370,402$228,838$966,206
70$1,153,831$311,532$159,484$975,156
71$1,192,076$247,351$85,380$983,554
72$1,231,719$177,522$6,292$991,351
73$1,272,824$101,691$0$998,502
74$1,315,460$19,481$0$1,014,955
75$1,359,697$0$0$1,032,169
76$1,405,614$0$0$1,063,083
77$1,453,292$0$0$1,099,193
78$1,502,818$0$0$1,136,709
79$1,554,287$0$0$1,175,701
80$1,607,799$0$0$1,216,247
81$1,663,460$0$0$1,258,428
82$1,721,386$0$0$1,302,332
83$1,781,701$0$0$1,348,054
84$1,844,537$0$0$1,395,696
85$1,910,037$0$0$1,445,367
86$1,978,355$0$0$1,497,184
87$2,049,656$0$0$1,551,275
88$2,124,120$0$0$1,607,776
89$2,201,938$0$0$1,666,836
90$2,283,321$0$0$1,728,615
91$2,368,494$0$0$1,793,286
92$2,457,701$0$0$1,861,036
93$2,551,207$0$0$1,932,070
94$2,649,299$0$0$2,006,606
95$2,752,290$0$0$2,084,886
96$2,860,518$0$0$2,167,169
97$2,974,351$0$0$2,253,737
98$3,094,190$0$0$2,344,900
99$3,220,471$0$0$2,440,991
100$3,353,669$0$0$2,542,377