Can I retire at age 58 with 741,000?

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 $741,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$61,191$60,646$60,114$59,595$59,088$57,754
2 years$30,293$29,728$29,182$28,652$28,137$26,800
3 years$19,994$19,428$18,882$18,357$17,851$16,553
4 years$14,846$14,282$13,742$13,225$12,732$11,482
5 years$11,758$11,197$10,664$10,158$9,679$8,481
6 years$9,700$9,143$8,618$8,124$7,658$6,515
7 years$8,231$7,678$7,162$6,679$6,228$5,139
8 years$7,129$6,582$6,074$5,603$5,167$4,131
9 years$6,273$5,731$5,231$4,772$4,351$3,368
10 years$5,588$5,051$4,561$4,114$3,708$2,776
11 years$5,029$4,497$4,015$3,580$3,189$2,307
12 years$4,562$4,036$3,563$3,140$2,763$1,931
13 years$4,168$3,647$3,184$2,772$2,410$1,625
14 years$3,831$3,315$2,861$2,461$2,112$1,373
15 years$3,538$3,029$2,583$2,195$1,860$1,165
16 years$3,283$2,779$2,342$1,965$1,644$991
17 years$3,058$2,559$2,131$1,766$1,457$846
18 years$2,858$2,365$1,945$1,591$1,296$723
19 years$2,679$2,192$1,781$1,438$1,155$619
20 years$2,518$2,037$1,634$1,302$1,032$531
21 years$2,373$1,897$1,503$1,182$923$456
22 years$2,242$1,771$1,385$1,075$828$392
23 years$2,121$1,656$1,279$979$743$338
24 years$2,011$1,552$1,183$893$668$291
25 years$1,910$1,456$1,096$815$601$251
26 years$1,817$1,369$1,016$745$541$216
27 years$1,731$1,288$944$682$488$187
28 years$1,652$1,214$877$625$440$161
29 years$1,577$1,145$816$573$398$139
30 years$1,508$1,081$760$526$359$120
31 years$1,444$1,022$709$483$325$104
32 years$1,384$967$661$444$294$90
33 years$1,327$916$618$408$266$78
34 years$1,274$868$577$376$241$67
35 years$1,224$823$539$346$218$58
36 years$1,177$782$505$319$198$50
37 years$1,132$742$472$293$179$43
38 years$1,090$705$442$270$162$38
39 years$1,051$671$414$249$147$33
40 years$1,013$638$388$230$134$28
41 years$977$608$364$212$121$24
42 years$943$579$342$196$110$21
43 years$911$551$321$181$100$18
44 years$880$525$301$167$91$16
45 years$851$501$283$154$82$14
46 years$823$478$265$142$75$12
47 years$797$456$249$132$68$10
48 years$771$435$234$122$62$9
49 years$747$416$220$112$56$8
50 years$723$397$207$104$51$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $741,000, adding $5,141 every year, while hoping to spend $58,522 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: 65/12/23 Blend
57$741,000$741,000$741,000$741,000
58$821,885$782,612$771,126$870,108
59$843,450$758,693$734,692$879,282
60$865,254$731,641$695,076$882,234
61$887,258$701,239$652,110$884,117
62$909,420$667,262$605,617$884,830
63$931,690$629,466$555,414$884,262
64$954,010$587,599$501,308$882,297
65$976,317$541,389$443,100$878,805
66$998,537$490,552$380,580$873,649
67$1,020,586$434,788$313,527$866,679
68$1,042,371$373,777$241,715$857,734
69$1,063,785$307,184$164,904$846,639
70$1,084,708$234,653$82,846$833,204
71$1,105,006$155,809$0$817,224
72$1,124,529$70,256$0$799,637
73$1,143,108$0$0$800,816
74$1,160,555$0$0$803,176
75$1,176,657$0$0$813,824
76$1,191,181$0$0$823,314
77$1,203,862$0$0$831,455
78$1,214,410$0$0$838,037
79$1,222,497$0$0$842,827
80$1,227,762$0$0$845,564
81$1,229,803$0$0$845,958
82$1,228,170$0$0$843,688
83$1,222,369$0$0$838,397
84$1,211,847$0$0$829,689
85$1,195,993$0$0$817,124
86$1,174,128$0$0$800,216
87$1,145,502$0$0$778,426
88$1,109,282$0$0$751,155
89$1,064,546$0$0$717,743
90$1,010,274$0$0$677,457
91$945,336$0$0$629,487
92$868,483$0$0$572,935
93$778,332$0$0$506,812
94$673,356$0$0$430,020
95$551,865$0$0$341,349
96$411,991$0$0$239,458
97$251,671$0$0$122,867
98$68,625$0$0$0
99$0$0$0$0
100$0$0$0$0