Can I retire at age 57 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$49,382$48,942$48,513$48,094$47,685$45,884
2 years$24,447$23,991$23,550$23,122$22,707$20,913
3 years$16,136$15,679$15,238$14,815$14,406$12,676
4 years$11,981$11,525$11,090$10,673$10,275$8,622
5 years$9,489$9,036$8,606$8,198$7,811$6,239
6 years$7,828$7,379$6,955$6,556$6,180$4,691
7 years$6,643$6,197$5,780$5,390$5,026$3,619
8 years$5,754$5,312$4,902$4,522$4,170$2,843
9 years$5,062$4,625$4,222$3,851$3,512$2,264
10 years$4,510$4,076$3,681$3,320$2,992$1,821
11 years$4,058$3,629$3,240$2,889$2,573$1,476
12 years$3,682$3,257$2,876$2,534$2,230$1,204
13 years$3,364$2,944$2,569$2,237$1,945$986
14 years$3,091$2,676$2,308$1,986$1,705$812
15 years$2,856$2,444$2,084$1,771$1,501$670
16 years$2,649$2,243$1,890$1,586$1,326$554
17 years$2,468$2,065$1,720$1,425$1,176$459
18 years$2,306$1,908$1,570$1,284$1,046$382
19 years$2,162$1,769$1,437$1,160$932$317
20 years$2,032$1,644$1,319$1,051$833$264
21 years$1,915$1,531$1,213$954$745$220
22 years$1,809$1,429$1,118$867$668$184
23 years$1,712$1,337$1,032$790$599$153
24 years$1,623$1,252$955$720$539$128
25 years$1,542$1,175$884$658$485$107
26 years$1,467$1,105$820$602$437$89
27 years$1,397$1,039$762$551$394$75
28 years$1,333$979$708$504$355$63
29 years$1,273$924$659$463$321$52
30 years$1,217$873$614$425$290$44
31 years$1,165$825$572$390$262$37
32 years$1,117$781$534$358$237$31
33 years$1,071$739$498$330$215$26
34 years$1,028$701$466$303$194$21
35 years$988$665$435$279$176$18
36 years$950$631$407$257$159$15
37 years$914$599$381$237$144$13
38 years$880$569$357$218$131$11
39 years$848$541$334$201$119$9
40 years$818$515$313$186$108$7
41 years$789$490$294$171$98$6
42 years$761$467$276$158$89$5
43 years$735$445$259$146$80$4
44 years$711$424$243$135$73$4
45 years$687$404$228$124$66$3
46 years$664$386$214$115$60$3
47 years$643$368$201$106$55$2
48 years$622$351$189$98$50$2
49 years$603$336$178$91$45$2
50 years$584$321$167$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $598,000, adding $5,580 every year, while hoping to spend $41,828 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: 56/36/8 Blend
56$598,000$598,000$598,000$598,000
57$664,752$633,058$623,789$700,429
58$688,052$619,573$600,181$711,655
59$712,326$604,025$574,381$718,740
60$737,631$586,270$546,270$725,439
61$764,025$566,153$515,725$731,720
62$791,573$543,512$482,619$737,552
63$820,344$518,174$446,817$742,901
64$850,412$489,958$408,179$747,733
65$881,858$458,670$366,557$752,013
66$914,770$424,107$321,799$755,706
67$949,243$386,055$273,746$758,776
68$985,378$344,284$222,229$761,186
69$1,023,288$298,555$167,075$762,899
70$1,063,093$248,613$108,101$763,880
71$1,104,923$194,191$45,117$764,093
72$1,148,923$135,003$0$763,501
73$1,195,246$70,751$0$763,957
74$1,244,061$1,119$0$767,775
75$1,295,554$0$0$771,085
76$1,349,923$0$0$803,285
77$1,407,388$0$0$837,810
78$1,468,188$0$0$874,363
79$1,532,582$0$0$913,104
80$1,600,855$0$0$954,207
81$1,673,319$0$0$997,864
82$1,750,313$0$0$1,044,283
83$1,832,210$0$0$1,093,693
84$1,919,416$0$0$1,146,345
85$2,012,377$0$0$1,202,510
86$2,111,581$0$0$1,262,491
87$2,217,563$0$0$1,326,616
88$2,330,910$0$0$1,395,245
89$2,452,263$0$0$1,468,773
90$2,582,327$0$0$1,547,635
91$2,721,876$0$0$1,632,305
92$2,871,758$0$0$1,723,307
93$3,032,904$0$0$1,821,212
94$3,206,335$0$0$1,926,651
95$3,393,175$0$0$2,040,314
96$3,594,657$0$0$2,162,961
97$3,812,133$0$0$2,295,426
98$4,047,094$0$0$2,438,626
99$4,301,173$0$0$2,593,567
100$4,576,168$0$0$2,761,358