Can I retire at age 58 with 747,000?

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 $747,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$61,687$61,137$60,601$60,078$59,567$58,871
2 years$30,538$29,969$29,418$28,884$28,365$27,665
3 years$20,156$19,585$19,035$18,506$17,996$17,313
4 years$14,967$14,397$13,853$13,333$12,835$12,174
5 years$11,854$11,288$10,750$10,241$9,757$9,121
6 years$9,779$9,217$8,688$8,190$7,720$7,109
7 years$8,298$7,741$7,220$6,733$6,279$5,693
8 years$7,187$6,635$6,123$5,648$5,209$4,649
9 years$6,324$5,777$5,274$4,811$4,387$3,851
10 years$5,634$5,092$4,598$4,147$3,738$3,227
11 years$5,069$4,533$4,048$3,609$3,214$2,728
12 years$4,599$4,069$3,592$3,166$2,786$2,323
13 years$4,202$3,677$3,209$2,795$2,429$1,990
14 years$3,862$3,342$2,884$2,481$2,129$1,713
15 years$3,567$3,053$2,604$2,213$1,875$1,480
16 years$3,309$2,801$2,361$1,981$1,657$1,284
17 years$3,082$2,580$2,148$1,780$1,469$1,117
18 years$2,881$2,384$1,961$1,604$1,306$973
19 years$2,701$2,209$1,795$1,450$1,164$851
20 years$2,539$2,053$1,647$1,313$1,040$744
21 years$2,392$1,912$1,515$1,191$931$653
22 years$2,260$1,785$1,397$1,083$834$573
23 years$2,139$1,670$1,289$987$749$504
24 years$2,028$1,564$1,193$900$673$443
25 years$1,926$1,468$1,105$822$606$390
26 years$1,832$1,380$1,024$751$546$344
27 years$1,745$1,298$951$688$492$303
28 years$1,665$1,224$884$630$444$268
29 years$1,590$1,154$823$578$401$236
30 years$1,521$1,090$767$530$362$209
31 years$1,456$1,030$715$487$327$185
32 years$1,395$975$667$448$296$163
33 years$1,338$923$623$412$268$144
34 years$1,284$875$582$379$243$128
35 years$1,234$830$544$349$220$113
36 years$1,186$788$509$321$199$100
37 years$1,142$748$476$296$180$88
38 years$1,099$711$446$273$164$78
39 years$1,059$676$418$251$148$69
40 years$1,021$643$392$232$135$61
41 years$985$612$367$214$122$54
42 years$951$583$344$197$111$48
43 years$919$556$323$182$101$43
44 years$888$530$303$168$91$38
45 years$858$505$285$155$83$34
46 years$830$482$268$144$75$30
47 years$803$460$251$133$68$26
48 years$777$439$236$123$62$23
49 years$753$419$222$113$56$21
50 years$729$400$209$105$51$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $747,000, adding $6,910 every year, while hoping to spend $44,018 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: 69/9/22 Blend
57$747,000$747,000$747,000$747,000
58$830,322$790,731$779,152$882,583
59$868,180$782,642$758,419$910,325
60$908,424$772,681$735,516$934,900
61$951,251$760,710$710,324$960,732
62$996,877$746,584$682,718$987,943
63$1,045,538$730,146$652,568$1,016,670
64$1,097,492$711,232$619,739$1,047,062
65$1,153,023$689,669$584,086$1,079,286
66$1,212,440$665,272$545,462$1,113,526
67$1,276,085$637,846$503,712$1,149,989
68$1,344,332$607,186$458,672$1,188,902
69$1,417,589$573,074$410,172$1,230,518
70$1,496,306$535,278$358,037$1,275,116
71$1,580,978$493,555$302,079$1,323,007
72$1,672,146$447,647$242,107$1,374,535
73$1,770,405$397,282$177,918$1,430,081
74$1,876,409$342,171$109,300$1,490,067
75$1,990,876$282,011$36,035$1,554,960
76$2,114,595$216,480$0$1,625,279
77$2,248,435$145,238$0$1,711,491
78$2,393,347$67,927$0$1,814,007
79$2,550,382$0$0$1,925,119
80$2,720,691$0$0$2,047,234
81$2,905,541$0$0$2,187,112
82$3,106,328$0$0$2,339,087
83$3,324,584$0$0$2,504,323
84$3,561,996$0$0$2,684,102
85$3,820,421$0$0$2,879,836
86$4,101,902$0$0$3,093,076
87$4,408,684$0$0$3,325,531
88$4,743,243$0$0$3,579,081
89$5,108,301$0$0$3,855,794
90$5,506,854$0$0$4,157,949
91$5,942,200$0$0$4,488,053
92$6,417,972$0$0$4,848,867
93$6,938,167$0$0$5,243,429
94$7,507,187$0$0$5,675,086
95$8,129,878$0$0$6,147,521
96$8,811,579$0$0$6,664,793
97$9,558,165$0$0$7,231,369
98$10,376,109$0$0$7,852,168
99$11,272,539$0$0$8,532,610
100$12,255,303$0$0$9,278,662