Can I retire at age 58 with 744,000?

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 $744,000?

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$61,439$60,892$60,358$59,836$59,328$57,988
2 years$30,415$29,849$29,300$28,768$28,251$26,908
3 years$20,075$19,507$18,959$18,432$17,924$16,620
4 years$14,907$14,339$13,797$13,279$12,783$11,529
5 years$11,806$11,242$10,707$10,200$9,718$8,516
6 years$9,740$9,180$8,653$8,157$7,689$6,541
7 years$8,264$7,709$7,191$6,706$6,253$5,160
8 years$7,158$6,608$6,098$5,626$5,188$4,148
9 years$6,298$5,754$5,252$4,792$4,369$3,382
10 years$5,611$5,072$4,579$4,130$3,723$2,787
11 years$5,049$4,515$4,031$3,595$3,202$2,317
12 years$4,581$4,052$3,578$3,153$2,774$1,939
13 years$4,185$3,662$3,197$2,784$2,419$1,631
14 years$3,846$3,329$2,872$2,471$2,121$1,379
15 years$3,553$3,041$2,593$2,204$1,867$1,170
16 years$3,296$2,790$2,351$1,973$1,650$995
17 years$3,070$2,570$2,139$1,773$1,463$849
18 years$2,869$2,374$1,953$1,598$1,301$726
19 years$2,690$2,201$1,788$1,444$1,160$622
20 years$2,529$2,045$1,641$1,308$1,036$533
21 years$2,383$1,905$1,509$1,187$927$458
22 years$2,251$1,778$1,391$1,079$831$394
23 years$2,130$1,663$1,284$983$746$339
24 years$2,020$1,558$1,188$896$670$292
25 years$1,918$1,462$1,100$818$603$252
26 years$1,825$1,374$1,020$748$543$217
27 years$1,738$1,293$947$685$490$187
28 years$1,658$1,219$881$628$442$162
29 years$1,584$1,150$820$576$399$140
30 years$1,514$1,086$763$528$361$121
31 years$1,450$1,026$712$485$326$104
32 years$1,389$971$664$446$295$90
33 years$1,332$920$620$410$267$78
34 years$1,279$872$579$377$242$67
35 years$1,229$827$542$347$219$58
36 years$1,182$785$507$320$198$50
37 years$1,137$745$474$295$180$44
38 years$1,095$708$444$272$163$38
39 years$1,055$674$416$250$148$33
40 years$1,017$641$390$231$134$28
41 years$981$610$366$213$122$24
42 years$947$581$343$197$110$21
43 years$915$553$322$182$100$18
44 years$884$528$302$168$91$16
45 years$855$503$284$155$83$14
46 years$827$480$266$143$75$12
47 years$800$458$250$132$68$10
48 years$774$437$235$122$62$9
49 years$750$418$221$113$56$8
50 years$726$399$208$104$51$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $744,000, adding $5,010 every year, while hoping to spend $57,692 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: 60/30/10 Blend
57$744,000$744,000$744,000$744,000
58$825,056$785,624$774,092$872,356
59$847,828$762,736$738,640$881,820
60$870,989$736,792$700,067$885,136
61$894,518$707,583$658,207$887,333
62$918,389$674,885$612,888$888,306
63$942,573$638,463$563,928$887,943
64$967,036$598,068$511,140$886,123
65$991,735$553,435$454,325$882,715
66$1,016,624$504,286$393,277$877,580
67$1,041,650$450,326$327,782$870,568
68$1,066,751$391,244$257,615$861,516
69$1,091,855$326,711$182,541$850,250
70$1,116,884$256,379$102,315$836,583
71$1,141,746$179,881$16,682$820,313
72$1,166,338$96,829$0$801,223
73$1,190,545$6,814$0$787,049
74$1,214,236$0$0$771,986
75$1,237,264$0$0$783,920
76$1,259,466$0$0$797,524
77$1,280,656$0$0$810,425
78$1,300,628$0$0$822,486
79$1,319,152$0$0$833,553
80$1,335,970$0$0$843,454
81$1,350,794$0$0$852,000
82$1,363,306$0$0$858,976
83$1,373,147$0$0$864,147
84$1,379,922$0$0$867,247
85$1,383,189$0$0$867,985
86$1,382,459$0$0$866,035
87$1,377,188$0$0$861,036
88$1,366,770$0$0$852,587
89$1,350,537$0$0$840,243
90$1,327,746$0$0$823,512
91$1,297,572$0$0$801,848
92$1,259,105$0$0$774,646
93$1,211,333$0$0$741,236
94$1,153,137$0$0$700,877
95$1,083,281$0$0$652,749
96$1,000,394$0$0$595,943
97$902,961$0$0$529,456
98$789,306$0$0$452,179
99$657,577$0$0$362,884
100$505,726$0$0$260,215