Can I retire at age 58 with 724,000?

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 $724,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$59,787$59,255$58,735$58,228$57,733$56,314
2 years$29,598$29,046$28,512$27,994$27,492$26,071
3 years$19,536$18,982$18,449$17,936$17,442$16,064
4 years$14,506$13,954$13,426$12,922$12,440$11,115
5 years$11,489$10,940$10,419$9,925$9,456$8,189
6 years$9,478$8,933$8,420$7,937$7,483$6,273
7 years$8,042$7,502$6,997$6,526$6,085$4,934
8 years$6,966$6,431$5,934$5,474$5,048$3,955
9 years$6,129$5,599$5,111$4,663$4,251$3,215
10 years$5,460$4,935$4,456$4,019$3,622$2,641
11 years$4,913$4,394$3,923$3,498$3,115$2,188
12 years$4,458$3,944$3,482$3,068$2,700$1,825
13 years$4,073$3,564$3,111$2,709$2,354$1,531
14 years$3,743$3,239$2,795$2,405$2,064$1,289
15 years$3,457$2,959$2,523$2,145$1,817$1,090
16 years$3,208$2,715$2,288$1,920$1,606$924
17 years$2,988$2,500$2,082$1,725$1,424$786
18 years$2,792$2,311$1,900$1,555$1,266$669
19 years$2,618$2,141$1,740$1,405$1,128$571
20 years$2,461$1,990$1,597$1,272$1,008$488
21 years$2,319$1,853$1,469$1,155$902$418
22 years$2,190$1,730$1,354$1,050$809$358
23 years$2,073$1,618$1,250$956$726$307
24 years$1,965$1,516$1,156$872$652$263
25 years$1,867$1,423$1,071$796$587$226
26 years$1,776$1,337$993$728$529$194
27 years$1,692$1,258$922$667$477$167
28 years$1,614$1,186$857$611$430$143
29 years$1,541$1,119$798$560$388$123
30 years$1,474$1,057$743$514$351$106
31 years$1,411$999$693$472$317$91
32 years$1,352$945$646$434$287$79
33 years$1,297$895$603$399$260$68
34 years$1,245$848$564$367$235$58
35 years$1,196$805$527$338$213$50
36 years$1,150$764$493$311$193$43
37 years$1,106$725$462$287$175$37
38 years$1,065$689$432$264$159$32
39 years$1,027$655$405$244$144$28
40 years$990$624$380$225$130$24
41 years$955$594$356$207$118$21
42 years$922$565$334$191$107$18
43 years$890$539$313$177$97$15
44 years$860$513$294$163$88$13
45 years$832$490$276$151$80$11
46 years$804$467$259$139$73$10
47 years$778$446$244$129$66$8
48 years$753$425$229$119$60$7
49 years$730$406$215$110$55$6
50 years$707$388$202$101$50$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $724,000, adding $2,454 every year, while hoping to spend $48,039 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: 74/20/6 Blend
57$724,000$724,000$724,000$724,000
58$800,379$762,007$750,785$858,898
59$830,905$748,233$724,823$883,973
60$862,934$732,173$696,382$905,100
61$896,569$713,665$665,327$926,865
62$931,922$692,538$631,518$949,316
63$969,114$668,608$594,810$972,502
64$1,008,277$641,683$555,049$996,484
65$1,049,554$611,558$512,076$1,021,324
66$1,093,103$578,018$465,725$1,047,095
67$1,139,092$540,835$415,819$1,073,877
68$1,187,709$499,765$362,179$1,101,761
69$1,239,157$454,555$304,613$1,130,846
70$1,293,657$404,934$242,924$1,161,246
71$1,351,451$350,617$176,903$1,193,084
72$1,412,804$291,302$106,334$1,226,500
73$1,478,006$226,672$30,992$1,261,649
74$1,547,372$156,388$0$1,298,705
75$1,621,250$80,098$0$1,341,024
76$1,700,020$0$0$1,387,981
77$1,784,095$0$0$1,438,412
78$1,873,933$0$0$1,511,153
79$1,970,032$0$0$1,588,985
80$2,072,939$0$0$1,672,351
81$2,183,255$0$0$1,761,741
82$2,301,637$0$0$1,857,692
83$2,428,808$0$0$1,960,791
84$2,565,562$0$0$2,071,686
85$2,712,769$0$0$2,191,085
86$2,871,384$0$0$2,319,767
87$3,042,459$0$0$2,458,589
88$3,227,146$0$0$2,608,489
89$3,426,714$0$0$2,770,502
90$3,642,555$0$0$2,945,763
91$3,876,200$0$0$3,135,520
92$4,129,334$0$0$3,341,144
93$4,403,808$0$0$3,564,144
94$4,701,655$0$0$3,806,181
95$5,025,116$0$0$4,069,077
96$5,376,653$0$0$4,354,841
97$5,758,974$0$0$4,665,680
98$6,175,060$0$0$5,004,024
99$6,628,189$0$0$5,372,546
100$7,121,971$0$0$5,774,188