Can I retire at age 58 with 748,000?

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 $748,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$61,769$61,219$60,682$60,158$59,647$58,395
2 years$30,579$30,009$29,457$28,922$28,403$27,148
3 years$20,183$19,611$19,061$18,531$18,020$16,800
4 years$14,987$14,416$13,871$13,350$12,852$11,677
5 years$11,869$11,303$10,765$10,254$9,770$8,644
6 years$9,792$9,229$8,700$8,200$7,731$6,654
7 years$8,309$7,751$7,229$6,742$6,287$5,260
8 years$7,197$6,644$6,131$5,656$5,216$4,238
9 years$6,332$5,785$5,281$4,817$4,392$3,464
10 years$5,641$5,099$4,604$4,153$3,743$2,862
11 years$5,076$4,539$4,053$3,614$3,219$2,385
12 years$4,605$4,074$3,597$3,170$2,789$2,001
13 years$4,208$3,682$3,214$2,799$2,432$1,688
14 years$3,867$3,347$2,888$2,484$2,132$1,431
15 years$3,572$3,057$2,607$2,216$1,877$1,217
16 years$3,314$2,805$2,364$1,984$1,659$1,039
17 years$3,087$2,583$2,151$1,782$1,471$889
18 years$2,885$2,387$1,963$1,606$1,308$762
19 years$2,704$2,212$1,797$1,451$1,166$655
20 years$2,542$2,056$1,650$1,315$1,041$563
21 years$2,396$1,915$1,517$1,193$932$485
22 years$2,263$1,788$1,398$1,085$835$419
23 years$2,141$1,672$1,291$988$750$361
24 years$2,030$1,566$1,194$901$674$312
25 years$1,928$1,470$1,106$823$606$270
26 years$1,834$1,382$1,026$752$546$234
27 years$1,748$1,300$953$689$493$202
28 years$1,667$1,225$886$631$444$175
29 years$1,592$1,156$824$579$401$152
30 years$1,523$1,092$768$531$363$132
31 years$1,458$1,032$716$488$328$114
32 years$1,397$976$668$448$297$99
33 years$1,340$925$623$412$268$86
34 years$1,286$876$582$379$243$75
35 years$1,236$831$545$349$220$65
36 years$1,188$789$509$322$199$56
37 years$1,143$749$477$296$181$49
38 years$1,101$712$447$273$164$42
39 years$1,061$677$418$252$149$37
40 years$1,023$644$392$232$135$32
41 years$987$613$368$214$122$28
42 years$952$584$345$198$111$24
43 years$920$556$324$183$101$21
44 years$889$530$304$169$91$18
45 years$859$506$285$156$83$16
46 years$831$483$268$144$75$14
47 years$804$460$252$133$68$12
48 years$778$440$237$123$62$10
49 years$754$420$222$113$56$9
50 years$730$401$209$105$51$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $748,000, adding $2,152 every year, while hoping to spend $56,365 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: 70/19/11 Blend
57$748,000$748,000$748,000$748,000
58$826,516$786,872$775,278$882,356
59$850,848$765,457$741,278$898,241
60$875,774$741,103$704,249$908,565
61$901,293$713,607$664,032$918,362
62$927,406$682,754$620,458$927,572
63$954,108$648,316$573,350$936,126
64$981,395$610,052$522,525$943,951
65$1,009,260$567,707$467,792$950,970
66$1,037,691$521,012$408,950$957,098
67$1,066,676$469,681$345,790$962,244
68$1,096,195$413,414$278,093$966,308
69$1,126,228$351,893$205,630$969,187
70$1,156,749$284,781$128,164$970,765
71$1,187,725$211,723$45,445$970,920
72$1,219,121$132,345$0$969,518
73$1,250,891$46,250$0$971,444
74$1,282,986$0$0$977,534
75$1,315,346$0$0$992,140
76$1,347,904$0$0$1,016,545
77$1,380,582$0$0$1,041,022
78$1,413,292$0$0$1,065,500
79$1,445,933$0$0$1,089,900
80$1,478,390$0$0$1,114,135
81$1,510,535$0$0$1,138,103
82$1,542,221$0$0$1,161,692
83$1,573,284$0$0$1,184,772
84$1,603,539$0$0$1,207,202
85$1,632,778$0$0$1,228,819
86$1,660,768$0$0$1,249,443
87$1,687,248$0$0$1,268,872
88$1,711,928$0$0$1,286,881
89$1,734,481$0$0$1,303,217
90$1,754,544$0$0$1,317,599
91$1,771,714$0$0$1,329,714
92$1,785,537$0$0$1,339,212
93$1,795,514$0$0$1,345,707
94$1,801,086$0$0$1,348,765
95$1,801,633$0$0$1,347,908
96$1,796,466$0$0$1,342,603
97$1,784,820$0$0$1,332,259
98$1,765,848$0$0$1,316,221
99$1,738,608$0$0$1,293,760
100$1,702,058$0$0$1,264,072