Can I retire at age 58 with 719,000?

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 $719,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$59,374$58,845$58,329$57,826$57,334$55,344
2 years$29,393$28,846$28,315$27,801$27,302$25,317
3 years$19,401$18,851$18,322$17,812$17,321$15,405
4 years$14,406$13,858$13,334$12,833$12,354$10,520
5 years$11,409$10,864$10,347$9,857$9,391$7,645
6 years$9,412$8,872$8,362$7,883$7,431$5,773
7 years$7,987$7,450$6,949$6,481$6,043$4,474
8 years$6,918$6,386$5,893$5,436$5,014$3,532
9 years$6,087$5,560$5,076$4,631$4,222$2,826
10 years$5,422$4,901$4,425$3,992$3,597$2,284
11 years$4,879$4,363$3,896$3,474$3,094$1,861
12 years$4,427$3,916$3,458$3,047$2,681$1,526
13 years$4,044$3,539$3,089$2,690$2,338$1,258
14 years$3,717$3,217$2,776$2,388$2,049$1,040
15 years$3,433$2,939$2,506$2,130$1,805$864
16 years$3,185$2,696$2,272$1,907$1,595$719
17 years$2,967$2,483$2,067$1,713$1,414$599
18 years$2,773$2,295$1,887$1,544$1,257$501
19 years$2,600$2,127$1,728$1,395$1,121$419
20 years$2,444$1,976$1,586$1,264$1,001$351
21 years$2,303$1,841$1,459$1,147$896$294
22 years$2,175$1,718$1,344$1,043$803$247
23 years$2,058$1,607$1,241$950$721$208
24 years$1,952$1,506$1,148$866$648$175
25 years$1,854$1,413$1,063$791$583$147
26 years$1,763$1,328$986$723$525$123
27 years$1,680$1,250$916$662$473$104
28 years$1,602$1,178$851$607$427$87
29 years$1,531$1,111$792$556$386$74
30 years$1,464$1,049$738$510$349$62
31 years$1,401$992$688$469$315$52
32 years$1,342$939$642$431$285$44
33 years$1,288$889$599$396$258$37
34 years$1,236$842$560$365$234$31
35 years$1,188$799$523$336$212$26
36 years$1,142$758$490$309$192$22
37 years$1,099$720$458$285$174$19
38 years$1,058$684$429$262$157$16
39 years$1,020$651$402$242$143$13
40 years$983$619$377$223$130$11
41 years$948$589$353$206$118$9
42 years$915$561$332$190$107$8
43 years$884$535$311$175$97$7
44 years$854$510$292$162$88$6
45 years$826$486$274$150$80$5
46 years$799$464$258$138$72$4
47 years$773$443$242$128$66$3
48 years$748$423$227$118$60$3
49 years$725$404$214$109$54$2
50 years$702$385$201$101$49$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $719,000, adding $6,776 every year, while hoping to spend $44,234 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: 81/12/7 Blend
57$719,000$719,000$719,000$719,000
58$799,327$761,220$750,076$862,947
59$833,794$751,456$728,139$895,807
60$870,294$739,730$703,984$925,299
61$908,988$725,900$677,491$956,319
62$950,051$709,815$648,534$988,996
63$993,675$691,315$616,979$1,023,472
64$1,040,070$670,231$582,688$1,059,904
65$1,089,467$646,381$545,518$1,098,462
66$1,142,117$619,578$505,316$1,139,338
67$1,198,294$589,619$461,926$1,182,740
68$1,258,302$556,292$415,182$1,228,900
69$1,322,471$519,372$364,913$1,278,072
70$1,391,163$478,622$310,938$1,330,537
71$1,464,776$433,789$253,069$1,386,606
72$1,543,748$384,609$191,111$1,446,619
73$1,628,555$330,800$124,858$1,510,955
74$1,719,724$272,066$54,098$1,580,030
75$1,817,832$208,093$0$1,654,303
76$1,923,512$138,550$0$1,735,881
77$2,037,459$63,089$0$1,828,140
78$2,160,438$0$0$1,927,671
79$2,293,289$0$0$2,037,638
80$2,436,933$0$0$2,165,562
81$2,592,386$0$0$2,304,017
82$2,760,761$0$0$2,453,997
83$2,943,286$0$0$2,616,597
84$3,141,307$0$0$2,793,020
85$3,356,307$0$0$2,984,587
86$3,589,917$0$0$3,192,756
87$3,843,929$0$0$3,419,125
88$4,120,318$0$0$3,665,456
89$4,421,255$0$0$3,933,686
90$4,749,128$0$0$4,225,948
91$5,106,566$0$0$4,544,589
92$5,496,464$0$0$4,892,190
93$5,922,005$0$0$5,271,593
94$6,386,696$0$0$5,685,929
95$6,894,396$0$0$6,138,641
96$7,449,353$0$0$6,633,520
97$8,056,246$0$0$7,174,743
98$8,720,224$0$0$7,766,906
99$9,446,958$0$0$8,415,070
100$10,242,693$0$0$9,124,808