Can I retire at age 58 with 716,000?

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 $716,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$59,127$58,600$58,086$57,585$57,095$56,405
2 years$29,271$28,725$28,197$27,685$27,188$26,494
3 years$19,320$18,772$18,245$17,738$17,249$16,572
4 years$14,346$13,800$13,278$12,779$12,302$11,647
5 years$11,362$10,819$10,304$9,816$9,352$8,721
6 years$9,373$8,835$8,327$7,850$7,400$6,794
7 years$7,953$7,419$6,920$6,454$6,018$5,438
8 years$6,889$6,360$5,869$5,414$4,993$4,438
9 years$6,061$5,537$5,055$4,611$4,204$3,674
10 years$5,400$4,881$4,407$3,975$3,582$3,077
11 years$4,859$4,345$3,880$3,459$3,081$2,600
12 years$4,408$3,900$3,443$3,034$2,670$2,212
13 years$4,028$3,524$3,076$2,679$2,328$1,894
14 years$3,701$3,204$2,764$2,378$2,041$1,629
15 years$3,419$2,927$2,496$2,121$1,797$1,407
16 years$3,172$2,685$2,263$1,899$1,588$1,219
17 years$2,955$2,473$2,059$1,706$1,408$1,060
18 years$2,761$2,285$1,879$1,538$1,252$923
19 years$2,589$2,118$1,721$1,389$1,116$806
20 years$2,433$1,968$1,579$1,258$997$705
21 years$2,293$1,833$1,452$1,142$892$618
22 years$2,166$1,711$1,339$1,038$800$542
23 years$2,050$1,600$1,236$946$718$476
24 years$1,944$1,499$1,143$862$645$418
25 years$1,846$1,407$1,059$788$581$368
26 years$1,756$1,322$982$720$523$324
27 years$1,673$1,245$912$659$471$286
28 years$1,596$1,173$848$604$425$252
29 years$1,524$1,106$789$554$384$222
30 years$1,457$1,045$735$508$347$196
31 years$1,395$988$685$467$314$173
32 years$1,337$935$639$429$284$153
33 years$1,282$885$597$395$257$135
34 years$1,231$839$558$363$233$120
35 years$1,183$796$521$334$211$106
36 years$1,137$755$488$308$191$93
37 years$1,094$717$456$284$173$83
38 years$1,054$682$427$261$157$73
39 years$1,015$648$400$241$142$65
40 years$979$617$375$222$129$57
41 years$944$587$352$205$117$51
42 years$912$559$330$189$106$45
43 years$880$533$310$175$96$40
44 years$851$508$291$161$87$35
45 years$822$484$273$149$79$31
46 years$795$462$256$138$72$28
47 years$770$441$241$127$65$24
48 years$745$421$226$117$59$22
49 years$722$402$213$109$54$19
50 years$699$384$200$100$49$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $716,000, adding $6,518 every year, while hoping to spend $20,143 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: 64/7/29 Blend
57$716,000$716,000$716,000$716,000
58$795,755$757,807$746,709$840,149
59$855,490$773,508$750,292$886,714
60$920,643$789,303$753,320$934,785
61$991,745$805,175$755,752$986,881
62$1,069,382$821,107$757,548$1,043,401
63$1,154,196$837,078$758,664$1,104,784
64$1,246,897$853,068$759,052$1,171,514
65$1,348,265$869,053$758,665$1,244,127
66$1,459,159$885,008$757,451$1,323,210
67$1,580,526$900,906$755,359$1,409,414
68$1,713,408$916,718$752,331$1,503,453
69$1,858,950$932,412$748,309$1,606,119
70$2,018,417$947,955$743,231$1,718,280
71$2,193,201$963,309$737,034$1,840,895
72$2,384,833$978,437$729,650$1,975,024
73$2,595,000$993,295$721,009$2,121,831
74$2,825,563$1,007,840$711,035$2,282,603
75$3,078,568$1,022,021$699,653$2,458,757
76$3,356,271$1,035,789$686,780$2,651,855
77$3,661,156$1,049,088$672,332$2,863,620
78$3,995,959$1,061,859$656,221$3,095,951
79$4,363,695$1,074,038$638,352$3,350,943
80$4,767,685$1,085,559$618,630$3,630,902
81$5,211,587$1,096,349$596,952$3,938,374
82$5,699,431$1,106,333$573,212$4,276,163
83$6,235,658$1,115,428$547,300$4,647,363
84$6,825,159$1,123,547$519,098$5,055,381
85$7,473,322$1,130,599$488,485$5,503,976
86$8,186,087$1,136,484$455,335$5,997,289
87$8,969,994$1,141,097$419,515$6,539,888
88$9,832,250$1,144,328$380,885$7,136,806
89$10,780,797$1,146,057$339,302$7,793,591
90$11,824,384$1,146,160$294,615$8,516,361
91$12,972,651$1,144,502$246,664$9,311,856
92$14,236,220$1,140,941$195,286$10,187,508
93$15,626,795$1,135,327$140,308$11,151,510
94$17,157,270$1,127,500$81,551$12,212,890
95$18,841,855$1,117,291$18,826$13,381,602
96$20,696,205$1,104,520$0$14,668,614
97$22,737,572$1,088,995$0$16,100,908
98$24,984,965$1,070,517$0$17,684,107
99$27,459,329$1,048,870$0$19,427,136
100$30,183,744$1,023,828$0$21,346,256