Can I retire at age 58 with 577,000?

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 $577,000?

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$47,648$47,224$46,810$46,405$46,011$45,027
2 years$23,588$23,149$22,723$22,310$21,910$20,923
3 years$15,569$15,128$14,703$14,294$13,901$12,942
4 years$11,561$11,121$10,700$10,298$9,914$8,991
5 years$9,156$8,719$8,304$7,910$7,536$6,652
6 years$7,553$7,120$6,711$6,326$5,963$5,118
7 years$6,409$5,979$5,577$5,201$4,850$4,044
8 years$5,551$5,125$4,729$4,363$4,023$3,256
9 years$4,885$4,462$4,073$3,716$3,388$2,660
10 years$4,352$3,933$3,551$3,203$2,887$2,196
11 years$3,916$3,502$3,127$2,788$2,483$1,829
12 years$3,553$3,143$2,775$2,445$2,152$1,534
13 years$3,246$2,840$2,479$2,159$1,876$1,293
14 years$2,983$2,582$2,227$1,916$1,645$1,095
15 years$2,755$2,358$2,011$1,709$1,448$931
16 years$2,556$2,164$1,823$1,530$1,280$794
17 years$2,381$1,993$1,659$1,375$1,135$679
18 years$2,225$1,841$1,515$1,239$1,009$582
19 years$2,086$1,707$1,387$1,120$899$499
20 years$1,961$1,586$1,272$1,014$803$429
21 years$1,848$1,477$1,170$920$719$370
22 years$1,745$1,379$1,079$837$644$319
23 years$1,652$1,290$996$762$578$275
24 years$1,566$1,208$921$695$520$237
25 years$1,488$1,134$853$635$468$205
26 years$1,415$1,066$791$580$421$177
27 years$1,348$1,003$735$531$380$153
28 years$1,286$945$683$487$343$133
29 years$1,228$892$636$446$310$115
30 years$1,175$842$592$410$280$100
31 years$1,124$796$552$376$253$86
32 years$1,077$753$515$346$229$75
33 years$1,033$713$481$318$207$65
34 years$992$676$449$293$187$56
35 years$953$641$420$269$170$49
36 years$916$609$393$248$154$42
37 years$882$578$368$229$139$37
38 years$849$549$344$211$126$32
39 years$818$522$323$194$115$28
40 years$789$497$302$179$104$24
41 years$761$473$284$165$94$21
42 years$735$451$266$153$86$18
43 years$709$429$250$141$78$16
44 years$686$409$234$130$70$14
45 years$663$390$220$120$64$12
46 years$641$372$207$111$58$10
47 years$620$355$194$102$53$9
48 years$600$339$182$95$48$8
49 years$581$324$171$88$44$7
50 years$563$309$161$81$40$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $577,000, adding $4,585 every year, while hoping to spend $43,868 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: 43/49/8 Blend
57$577,000$577,000$577,000$577,000
58$640,583$610,002$601,059$666,456
59$659,248$593,217$574,519$668,105
60$678,346$574,140$545,620$665,063
61$697,875$552,610$514,236$660,763
62$717,831$528,462$480,237$655,106
63$738,210$501,516$443,485$647,988
64$759,003$471,586$403,837$639,296
65$780,200$438,472$361,144$628,911
66$801,788$401,965$315,250$616,706
67$823,751$361,842$265,992$602,546
68$846,071$317,869$213,199$586,287
69$868,723$269,798$156,694$567,777
70$891,680$217,366$96,291$546,853
71$914,912$160,297$31,797$523,341
72$938,380$98,298$0$497,056
73$962,041$31,061$0$470,964
74$985,846$0$0$444,796
75$1,009,737$0$0$438,138
76$1,033,651$0$0$448,199
77$1,057,513$0$0$458,196
78$1,081,240$0$0$468,087
79$1,104,736$0$0$477,826
80$1,127,895$0$0$487,362
81$1,150,596$0$0$496,636
82$1,172,704$0$0$505,581
83$1,194,066$0$0$514,125
84$1,214,513$0$0$522,185
85$1,233,852$0$0$529,670
86$1,251,871$0$0$536,476
87$1,268,331$0$0$542,488
88$1,282,966$0$0$547,580
89$1,295,480$0$0$551,608
90$1,305,542$0$0$554,415
91$1,312,786$0$0$555,824
92$1,316,801$0$0$555,640
93$1,317,135$0$0$553,645
94$1,313,282$0$0$549,599
95$1,304,683$0$0$543,234
96$1,290,717$0$0$534,253
97$1,270,694$0$0$522,328
98$1,243,851$0$0$507,094
99$1,209,341$0$0$488,149
100$1,166,228$0$0$465,045