Can I retire at age 57 with 598,000?

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 $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%12.8%
1 years$49,382$48,942$48,513$48,094$47,685$47,129
2 years$24,447$23,991$23,550$23,122$22,707$22,147
3 years$16,136$15,679$15,238$14,815$14,406$13,860
4 years$11,981$11,525$11,090$10,673$10,275$9,746
5 years$9,489$9,036$8,606$8,198$7,811$7,302
6 years$7,828$7,379$6,955$6,556$6,180$5,691
7 years$6,643$6,197$5,780$5,390$5,026$4,558
8 years$5,754$5,312$4,902$4,522$4,170$3,721
9 years$5,062$4,625$4,222$3,851$3,512$3,083
10 years$4,510$4,076$3,681$3,320$2,992$2,584
11 years$4,058$3,629$3,240$2,889$2,573$2,184
12 years$3,682$3,257$2,876$2,534$2,230$1,860
13 years$3,364$2,944$2,569$2,237$1,945$1,593
14 years$3,091$2,676$2,308$1,986$1,705$1,371
15 years$2,856$2,444$2,084$1,771$1,501$1,185
16 years$2,649$2,243$1,890$1,586$1,326$1,028
17 years$2,468$2,065$1,720$1,425$1,176$894
18 years$2,306$1,908$1,570$1,284$1,046$779
19 years$2,162$1,769$1,437$1,160$932$681
20 years$2,032$1,644$1,319$1,051$833$596
21 years$1,915$1,531$1,213$954$745$522
22 years$1,809$1,429$1,118$867$668$459
23 years$1,712$1,337$1,032$790$599$403
24 years$1,623$1,252$955$720$539$355
25 years$1,542$1,175$884$658$485$312
26 years$1,467$1,105$820$602$437$275
27 years$1,397$1,039$762$551$394$243
28 years$1,333$979$708$504$355$214
29 years$1,273$924$659$463$321$189
30 years$1,217$873$614$425$290$167
31 years$1,165$825$572$390$262$148
32 years$1,117$781$534$358$237$131
33 years$1,071$739$498$330$215$115
34 years$1,028$701$466$303$194$102
35 years$988$665$435$279$176$90
36 years$950$631$407$257$159$80
37 years$914$599$381$237$144$71
38 years$880$569$357$218$131$63
39 years$848$541$334$201$119$56
40 years$818$515$313$186$108$49
41 years$789$490$294$171$98$44
42 years$761$467$276$158$89$39
43 years$735$445$259$146$80$34
44 years$711$424$243$135$73$30
45 years$687$404$228$124$66$27
46 years$664$386$214$115$60$24
47 years$643$368$201$106$55$21
48 years$622$351$189$98$50$19
49 years$603$336$178$91$45$17
50 years$584$321$167$84$41$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $598,000, adding $2,737 every year, while hoping to spend $35,297 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: 56/29/15 Blend
56$598,000$598,000$598,000$598,000
57$661,819$630,125$620,856$696,145
58$691,769$623,446$604,099$713,081
59$723,591$615,256$585,598$727,449
60$757,438$605,444$565,256$742,292
61$793,479$593,893$542,975$757,662
62$831,898$580,478$518,648$773,618
63$872,896$565,066$492,168$790,227
64$916,695$547,518$463,418$807,566
65$963,536$527,684$432,281$825,721
66$1,013,685$505,409$398,631$844,788
67$1,067,433$480,526$362,337$864,877
68$1,125,099$452,861$323,264$886,110
69$1,187,035$422,226$281,269$908,625
70$1,253,623$388,426$236,202$932,577
71$1,325,288$351,254$187,910$958,139
72$1,402,492$310,490$136,229$985,505
73$1,485,744$265,902$80,991$1,014,894
74$1,575,604$217,245$22,019$1,046,549
75$1,672,687$164,262$0$1,080,741
76$1,777,668$106,678$0$1,124,324
77$1,891,290$44,204$0$1,175,274
78$2,014,368$0$0$1,230,476
79$2,147,801$0$0$1,297,871
80$2,292,575$0$0$1,386,345
81$2,449,775$0$0$1,482,461
82$2,620,596$0$0$1,586,953
83$2,806,350$0$0$1,700,632
84$3,008,482$0$0$1,824,388
85$3,228,582$0$0$1,959,202
86$3,468,399$0$0$2,106,151
87$3,729,858$0$0$2,266,424
88$4,015,078$0$0$2,441,325
89$4,326,391$0$0$2,632,294
90$4,666,364$0$0$2,840,913
91$5,037,822$0$0$3,068,926
92$5,443,877$0$0$3,318,250
93$5,887,954$0$0$3,590,999
94$6,373,824$0$0$3,889,498
95$6,905,640$0$0$4,216,308
96$7,487,974$0$0$4,574,251
97$8,125,861$0$0$4,966,432
98$8,824,848$0$0$5,396,273
99$9,591,041$0$0$5,867,540
100$10,431,167$0$0$6,384,383