Can I retire at age 58 with 723,000?

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 $723,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$59,705$59,173$58,654$58,148$57,653$55,674
2 years$29,557$29,006$28,473$27,956$27,454$25,480
3 years$19,509$18,956$18,424$17,911$17,418$15,511
4 years$14,486$13,935$13,408$12,904$12,423$10,598
5 years$11,473$10,925$10,405$9,912$9,443$7,706
6 years$9,465$8,921$8,409$7,926$7,472$5,823
7 years$8,031$7,492$6,988$6,517$6,077$4,515
8 years$6,956$6,422$5,926$5,467$5,041$3,566
9 years$6,121$5,591$5,104$4,656$4,246$2,855
10 years$5,453$4,929$4,450$4,014$3,617$2,309
11 years$4,906$4,388$3,918$3,493$3,111$1,883
12 years$4,452$3,938$3,477$3,064$2,696$1,545
13 years$4,067$3,559$3,106$2,705$2,351$1,274
14 years$3,738$3,235$2,791$2,401$2,061$1,055
15 years$3,452$2,955$2,520$2,142$1,815$876
16 years$3,203$2,711$2,285$1,918$1,604$730
17 years$2,983$2,497$2,079$1,723$1,422$609
18 years$2,788$2,307$1,898$1,553$1,264$509
19 years$2,614$2,138$1,737$1,403$1,127$426
20 years$2,457$1,987$1,594$1,271$1,007$357
21 years$2,316$1,851$1,467$1,153$901$300
22 years$2,187$1,728$1,352$1,049$807$252
23 years$2,070$1,616$1,248$955$725$212
24 years$1,963$1,514$1,154$871$651$178
25 years$1,864$1,421$1,069$795$586$150
26 years$1,773$1,335$992$727$528$126
27 years$1,689$1,257$921$666$476$106
28 years$1,611$1,184$856$610$430$90
29 years$1,539$1,117$796$559$388$76
30 years$1,472$1,055$742$513$350$64
31 years$1,409$997$692$471$317$54
32 years$1,350$944$645$433$287$45
33 years$1,295$894$603$398$259$38
34 years$1,243$847$563$367$235$32
35 years$1,194$803$526$337$213$27
36 years$1,148$763$492$311$193$23
37 years$1,105$724$461$286$175$19
38 years$1,064$688$432$264$158$16
39 years$1,025$655$404$243$144$14
40 years$988$623$379$224$130$12
41 years$954$593$355$207$118$10
42 years$920$565$333$191$107$8
43 years$889$538$313$176$97$7
44 years$859$513$294$163$88$6
45 years$830$489$276$150$80$5
46 years$803$466$259$139$73$4
47 years$777$445$243$128$66$4
48 years$752$425$229$119$60$3
49 years$729$406$215$110$55$3
50 years$706$388$202$101$50$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $723,000, adding $6,303 every year, while hoping to spend $28,676 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: 70/8/22 Blend
57$723,000$723,000$723,000$723,000
58$803,248$764,929$753,722$854,654
59$854,668$771,899$748,461$896,769
60$910,372$778,250$742,062$938,897
61$970,766$783,921$734,458$984,314
62$1,036,298$788,847$725,576$1,033,344
63$1,107,460$792,959$715,342$1,086,343
64$1,184,792$796,185$703,677$1,143,705
65$1,268,889$798,447$690,498$1,205,864
66$1,360,407$799,662$675,721$1,273,299
67$1,460,065$799,742$659,255$1,346,537
68$1,568,657$798,595$641,005$1,426,161
69$1,687,055$796,121$620,873$1,512,813
70$1,816,218$792,215$598,757$1,607,201
71$1,957,205$786,765$574,547$1,710,108
72$2,111,177$779,655$548,132$1,822,396
73$2,279,417$770,757$519,394$1,945,014
74$2,463,333$759,940$488,210$2,079,011
75$2,664,479$747,062$454,450$2,225,545
76$2,884,562$731,975$417,981$2,385,889
77$3,125,466$714,520$378,662$2,561,452
78$3,389,262$694,531$336,346$2,753,785
79$3,678,233$671,829$290,879$2,964,597
80$3,994,892$646,228$242,103$3,195,777
81$4,342,007$617,529$189,849$3,449,404
82$4,722,626$585,522$133,943$3,727,774
83$5,140,106$549,985$74,203$4,033,415
84$5,598,147$510,684$10,439$4,369,119
85$6,100,821$467,370$0$4,737,961
86$6,652,614$419,782$0$5,156,856
87$7,258,471$367,641$0$5,619,517
88$7,923,834$310,655$0$6,127,665
89$8,654,702$248,514$0$6,685,900
90$9,457,682$180,891$0$7,299,291
91$10,340,052$107,440$0$7,973,423
92$11,309,830$27,798$0$8,714,452
93$12,375,852$0$0$9,529,158
94$13,547,849$0$0$10,430,159
95$14,836,543$0$0$11,423,607
96$16,253,750$0$0$12,516,169
97$17,812,483$0$0$13,717,884
98$19,527,085$0$0$15,039,814
99$21,413,354$0$0$16,494,145
100$23,488,699$0$0$18,094,307