Can I retire at age 58 with 722,000?

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 $722,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$59,622$59,091$58,573$58,067$57,573$55,355
2 years$29,516$28,966$28,433$27,917$27,416$25,207
3 years$19,482$18,930$18,398$17,887$17,394$15,264
4 years$14,466$13,915$13,389$12,886$12,405$10,371
5 years$11,457$10,910$10,391$9,898$9,430$7,497
6 years$9,452$8,909$8,397$7,915$7,462$5,631
7 years$8,020$7,481$6,978$6,508$6,069$4,339
8 years$6,947$6,413$5,918$5,459$5,034$3,405
9 years$6,112$5,584$5,097$4,650$4,240$2,708
10 years$5,445$4,922$4,444$4,008$3,612$2,175
11 years$4,900$4,382$3,912$3,488$3,107$1,761
12 years$4,445$3,933$3,472$3,060$2,692$1,434
13 years$4,061$3,554$3,102$2,701$2,348$1,174
14 years$3,732$3,230$2,787$2,398$2,058$964
15 years$3,448$2,951$2,516$2,139$1,812$795
16 years$3,199$2,708$2,282$1,915$1,601$656
17 years$2,979$2,494$2,076$1,720$1,420$544
18 years$2,784$2,304$1,895$1,551$1,263$451
19 years$2,610$2,135$1,735$1,401$1,125$374
20 years$2,454$1,984$1,592$1,269$1,005$311
21 years$2,312$1,848$1,465$1,152$900$259
22 years$2,184$1,725$1,350$1,047$806$216
23 years$2,067$1,614$1,246$954$724$180
24 years$1,960$1,512$1,153$870$651$150
25 years$1,861$1,419$1,068$794$585$125
26 years$1,771$1,334$990$726$527$104
27 years$1,687$1,255$919$665$475$87
28 years$1,609$1,183$855$609$429$73
29 years$1,537$1,116$795$559$387$61
30 years$1,470$1,054$741$513$350$51
31 years$1,407$996$691$471$316$42
32 years$1,348$942$644$433$286$35
33 years$1,293$892$602$398$259$30
34 years$1,241$846$562$366$235$25
35 years$1,193$802$526$337$212$21
36 years$1,147$761$492$310$192$17
37 years$1,103$723$460$286$174$14
38 years$1,062$687$431$264$158$12
39 years$1,024$654$404$243$143$10
40 years$987$622$378$224$130$8
41 years$952$592$355$207$118$7
42 years$919$564$333$191$107$6
43 years$888$537$312$176$97$5
44 years$858$512$293$163$88$4
45 years$829$488$275$150$80$3
46 years$802$466$259$139$73$3
47 years$776$444$243$128$66$2
48 years$751$424$228$118$60$2
49 years$728$405$215$109$54$2
50 years$705$387$202$101$49$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $722,000, adding $6,886 every year, while hoping to spend $29,860 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: 42/37/21 Blend
57$722,000$722,000$722,000$722,000
58$802,747$764,481$753,290$831,269
59$852,856$770,170$746,754$857,894
60$907,076$775,136$738,999$883,302
61$965,794$779,314$729,952$910,207
62$1,029,436$782,632$719,536$938,763
63$1,098,472$785,014$707,674$969,140
64$1,173,416$786,379$694,281$1,001,527
65$1,254,835$786,643$679,270$1,036,136
66$1,343,354$785,715$662,552$1,073,199
67$1,439,659$783,497$644,030$1,112,976
68$1,544,504$779,888$623,604$1,155,756
69$1,658,720$774,780$601,172$1,201,859
70$1,783,222$768,056$576,623$1,251,638
71$1,919,015$759,595$549,845$1,305,489
72$2,067,207$749,268$520,717$1,363,846
73$2,229,016$736,936$489,116$1,427,196
74$2,405,786$722,456$454,911$1,496,073
75$2,598,992$705,673$417,966$1,571,072
76$2,810,262$686,423$378,141$1,652,853
77$3,041,385$664,534$335,285$1,742,145
78$3,294,334$639,824$289,245$1,839,756
79$3,571,280$612,100$239,858$1,946,581
80$3,874,614$581,155$186,957$2,063,610
81$4,206,968$546,775$130,363$2,191,941
82$4,571,242$508,731$69,893$2,332,786
83$4,970,629$466,779$5,356$2,487,488
84$5,408,648$420,666$0$2,657,532
85$5,889,171$370,120$0$2,858,794
86$6,416,466$314,855$0$3,081,063
87$6,995,234$254,571$0$3,325,197
88$7,630,650$188,948$0$3,593,467
89$8,328,419$117,649$0$3,888,383
90$9,094,823$40,318$0$4,212,713
91$9,936,782$0$0$4,569,515
92$10,861,922$0$0$4,979,840
93$11,878,640$0$0$5,448,922
94$12,996,192$0$0$5,964,627
95$14,224,770$0$0$6,531,670
96$15,575,607$0$0$7,155,250
97$17,061,076$0$0$7,841,091
98$18,694,811$0$0$8,595,502
99$20,491,832$0$0$9,425,433
100$22,468,690$0$0$10,338,543