Can I retire at age 57 with 586,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $586,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$48,391$47,960$47,540$47,129$46,728$45,898
2 years$23,956$23,510$23,078$22,658$22,252$21,417
3 years$15,812$15,364$14,933$14,517$14,117$13,306
4 years$11,741$11,294$10,867$10,459$10,069$9,286
5 years$9,299$8,855$8,433$8,033$7,654$6,902
6 years$7,671$7,231$6,815$6,424$6,056$5,337
7 years$6,509$6,072$5,664$5,282$4,925$4,238
8 years$5,638$5,205$4,803$4,431$4,086$3,431
9 years$4,961$4,532$4,137$3,774$3,441$2,817
10 years$4,419$3,995$3,607$3,253$2,932$2,339
11 years$3,977$3,556$3,175$2,831$2,522$1,959
12 years$3,608$3,192$2,818$2,483$2,185$1,652
13 years$3,296$2,885$2,518$2,193$1,906$1,401
14 years$3,029$2,622$2,262$1,946$1,670$1,194
15 years$2,798$2,395$2,042$1,736$1,471$1,022
16 years$2,596$2,198$1,852$1,554$1,300$877
17 years$2,418$2,024$1,685$1,396$1,153$754
18 years$2,260$1,870$1,538$1,258$1,025$651
19 years$2,119$1,733$1,408$1,137$913$562
20 years$1,992$1,611$1,292$1,030$816$487
21 years$1,877$1,500$1,189$935$730$422
22 years$1,773$1,400$1,096$850$654$366
23 years$1,678$1,310$1,012$774$587$318
24 years$1,591$1,227$936$706$528$277
25 years$1,511$1,152$866$645$475$241
26 years$1,437$1,082$804$589$428$210
27 years$1,369$1,019$746$540$386$183
28 years$1,306$960$694$494$348$159
29 years$1,247$905$646$453$314$139
30 years$1,193$855$601$416$284$121
31 years$1,142$808$561$382$257$106
32 years$1,094$765$523$351$232$92
33 years$1,049$724$488$323$210$81
34 years$1,007$687$456$297$190$71
35 years$968$651$427$274$172$62
36 years$931$618$399$252$156$54
37 years$896$587$374$232$142$47
38 years$862$558$350$214$128$41
39 years$831$530$328$197$116$36
40 years$801$505$307$182$106$31
41 years$773$480$288$168$96$27
42 years$746$458$270$155$87$24
43 years$721$436$254$143$79$21
44 years$696$416$238$132$72$18
45 years$673$396$223$122$65$16
46 years$651$378$210$113$59$14
47 years$630$361$197$104$54$12
48 years$610$344$185$96$49$11
49 years$591$329$174$89$44$9
50 years$572$314$164$82$40$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $586,000, adding $4,332 every year, while hoping to spend $47,002 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: 59/31/10 Blend
56$586,000$586,000$586,000$586,000
57$650,240$619,182$610,099$686,827
58$666,555$599,513$580,528$692,271
59$682,959$577,304$548,391$692,516
60$699,411$552,382$513,552$691,636
61$715,864$524,562$475,870$689,525
62$732,267$493,651$435,196$686,070
63$748,560$459,441$391,377$681,151
64$764,676$421,716$344,250$674,635
65$780,537$380,244$293,647$666,381
66$796,059$334,784$239,391$656,236
67$811,145$285,076$181,299$644,036
68$825,688$230,851$119,179$629,602
69$839,566$171,820$52,829$612,741
70$852,644$107,682$0$593,245
71$864,770$38,114$0$572,807
72$875,775$0$0$555,407
73$885,471$0$0$547,858
74$893,648$0$0$552,297
75$900,071$0$0$555,568
76$904,480$0$0$557,501
77$906,586$0$0$557,908
78$906,067$0$0$556,577
79$902,566$0$0$553,276
80$895,687$0$0$547,746
81$884,989$0$0$539,700
82$869,985$0$0$528,820
83$850,134$0$0$514,754
84$824,838$0$0$497,110
85$793,434$0$0$475,458
86$755,187$0$0$449,317
87$709,285$0$0$418,159
88$654,828$0$0$381,398
89$590,823$0$0$338,386
90$516,169$0$0$288,406
91$429,650$0$0$230,666
92$329,923$0$0$164,292
93$215,501$0$0$88,315
94$84,744$0$0$1,668
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0