Can I retire at age 58 with 756,000?

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 $756,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$62,430$61,874$61,331$60,802$60,285$58,995
2 years$30,906$30,330$29,772$29,232$28,707$27,414
3 years$20,399$19,821$19,265$18,729$18,213$16,957
4 years$15,147$14,571$14,020$13,493$12,990$11,780
5 years$11,996$11,424$10,880$10,364$9,874$8,715
6 years$9,897$9,328$8,793$8,288$7,813$6,705
7 years$8,398$7,834$7,307$6,814$6,354$5,298
8 years$7,274$6,715$6,197$5,716$5,272$4,266
9 years$6,400$5,847$5,337$4,869$4,439$3,485
10 years$5,701$5,154$4,653$4,197$3,783$2,877
11 years$5,130$4,588$4,096$3,653$3,253$2,396
12 years$4,655$4,118$3,636$3,204$2,819$2,009
13 years$4,253$3,721$3,248$2,829$2,458$1,694
14 years$3,908$3,383$2,918$2,511$2,155$1,435
15 years$3,610$3,090$2,635$2,239$1,897$1,220
16 years$3,349$2,835$2,389$2,005$1,677$1,040
17 years$3,120$2,611$2,174$1,802$1,487$889
18 years$2,916$2,413$1,984$1,624$1,322$762
19 years$2,733$2,236$1,817$1,467$1,178$654
20 years$2,569$2,078$1,667$1,329$1,053$562
21 years$2,421$1,935$1,534$1,206$942$484
22 years$2,287$1,807$1,413$1,096$844$417
23 years$2,164$1,690$1,305$998$758$360
24 years$2,052$1,583$1,207$911$681$311
25 years$1,949$1,486$1,118$832$613$269
26 years$1,854$1,396$1,037$760$552$232
27 years$1,766$1,314$963$696$498$201
28 years$1,685$1,238$895$638$449$174
29 years$1,609$1,168$833$585$406$151
30 years$1,539$1,103$776$537$366$130
31 years$1,473$1,043$723$493$331$113
32 years$1,412$987$675$453$300$98
33 years$1,354$935$630$417$271$85
34 years$1,300$886$589$383$246$74
35 years$1,249$840$550$353$222$64
36 years$1,201$797$515$325$202$55
37 years$1,155$757$482$299$183$48
38 years$1,113$720$451$276$166$42
39 years$1,072$684$423$254$150$36
40 years$1,034$651$396$235$136$31
41 years$997$620$372$217$124$27
42 years$962$590$349$200$112$24
43 years$930$562$327$184$102$20
44 years$898$536$307$170$92$18
45 years$868$511$288$157$84$15
46 years$840$488$271$145$76$13
47 years$813$465$254$134$69$12
48 years$787$444$239$124$63$10
49 years$762$424$225$115$57$9
50 years$738$405$211$106$52$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $756,000, adding $4,658 every year, while hoping to spend $53,254 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: 61/20/19 Blend
57$756,000$756,000$756,000$756,000
58$837,917$797,849$786,131$884,645
59$866,722$780,281$755,804$899,186
60$896,681$760,069$722,677$908,719
61$927,855$737,024$686,599$917,900
62$960,310$710,952$647,413$926,701
63$994,115$681,642$604,956$935,093
64$1,029,349$648,877$559,056$943,049
65$1,066,092$612,421$509,533$950,539
66$1,104,433$572,029$456,202$957,534
67$1,144,467$527,441$398,867$964,006
68$1,186,297$478,380$337,324$969,927
69$1,230,034$424,555$271,359$975,267
70$1,275,799$365,660$200,750$980,000
71$1,323,721$301,368$125,266$984,101
72$1,373,942$231,336$44,664$987,543
73$1,426,613$155,201$0$990,304
74$1,481,903$72,580$0$1,000,747
75$1,539,989$0$0$1,020,679
76$1,601,069$0$0$1,044,804
77$1,665,354$0$0$1,087,027
78$1,733,078$0$0$1,131,530
79$1,804,492$0$0$1,178,481
80$1,879,872$0$0$1,228,065
81$1,959,517$0$0$1,280,481
82$2,043,754$0$0$1,335,950
83$2,132,941$0$0$1,394,709
84$2,227,468$0$0$1,457,021
85$2,327,761$0$0$1,523,170
86$2,434,287$0$0$1,593,468
87$2,547,554$0$0$1,668,257
88$2,668,122$0$0$1,747,911
89$2,796,600$0$0$1,832,838
90$2,933,657$0$0$1,923,487
91$3,080,025$0$0$2,020,349
92$3,236,509$0$0$2,123,962
93$3,403,986$0$0$2,234,915
94$3,583,423$0$0$2,353,857
95$3,775,877$0$0$2,481,496
96$3,982,511$0$0$2,618,613
97$4,204,598$0$0$2,766,061
98$4,443,539$0$0$2,924,781
99$4,700,868$0$0$3,095,802
100$4,978,274$0$0$3,280,257