Can I retire at age 58 with 579,000?

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 $579,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$47,813$47,387$46,972$46,566$46,170$44,872
2 years$23,670$23,229$22,802$22,388$21,986$20,688
3 years$15,623$15,180$14,754$14,344$13,949$12,692
4 years$11,601$11,159$10,737$10,334$9,948$8,742
5 years$9,188$8,749$8,333$7,938$7,563$6,410
6 years$7,580$7,144$6,734$6,348$5,984$4,886
7 years$6,431$6,000$5,596$5,219$4,867$3,824
8 years$5,571$5,143$4,746$4,378$4,037$3,049
9 years$4,902$4,478$4,088$3,729$3,400$2,465
10 years$4,367$3,947$3,564$3,214$2,897$2,014
11 years$3,929$3,514$3,137$2,798$2,491$1,659
12 years$3,565$3,154$2,784$2,454$2,159$1,376
13 years$3,257$2,850$2,488$2,166$1,883$1,147
14 years$2,993$2,591$2,235$1,923$1,650$960
15 years$2,765$2,367$2,018$1,715$1,453$806
16 years$2,565$2,171$1,830$1,536$1,284$679
17 years$2,389$2,000$1,665$1,380$1,139$574
18 years$2,233$1,848$1,520$1,243$1,013$485
19 years$2,093$1,713$1,391$1,124$902$411
20 years$1,968$1,591$1,277$1,018$806$349
21 years$1,854$1,482$1,175$924$721$297
22 years$1,751$1,384$1,082$840$647$252
23 years$1,658$1,294$999$765$580$215
24 years$1,572$1,212$924$697$522$183
25 years$1,493$1,138$856$637$469$156
26 years$1,420$1,069$794$582$423$133
27 years$1,353$1,006$737$533$381$114
28 years$1,290$948$685$488$344$97
29 years$1,233$895$638$448$311$83
30 years$1,179$845$594$411$281$71
31 years$1,128$799$554$378$254$60
32 years$1,081$756$517$347$230$52
33 years$1,037$716$483$319$208$44
34 years$995$678$451$294$188$38
35 years$956$643$422$270$170$32
36 years$920$611$394$249$154$28
37 years$885$580$369$229$140$24
38 years$852$551$346$211$127$20
39 years$821$524$324$195$115$17
40 years$792$499$304$180$104$15
41 years$764$475$285$166$95$13
42 years$737$452$267$153$86$11
43 years$712$431$251$141$78$9
44 years$688$411$235$130$71$8
45 years$665$392$221$120$64$7
46 years$643$374$207$111$58$6
47 years$622$356$195$103$53$5
48 years$603$340$183$95$48$4
49 years$584$325$172$88$44$4
50 years$565$310$162$81$40$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $579,000, adding $5,856 every year, while hoping to spend $20,581 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: 73/5/22 Blend
57$579,000$579,000$579,000$579,000
58$644,098$613,411$604,437$687,247
59$687,898$621,571$602,788$724,890
60$735,476$629,440$600,393$763,090
61$787,196$636,983$597,207$804,428
62$843,456$644,162$593,180$849,210
63$904,698$650,936$588,261$897,778
64$971,407$657,260$582,397$950,506
65$1,044,113$663,089$575,531$1,007,808
66$1,123,405$668,373$567,603$1,070,140
67$1,209,928$673,059$558,553$1,138,004
68$1,304,392$677,090$548,316$1,211,955
69$1,407,580$680,407$536,824$1,292,603
70$1,520,352$682,946$524,007$1,380,622
71$1,643,656$684,639$509,790$1,476,753
72$1,778,537$685,414$494,096$1,581,816
73$1,926,143$685,195$476,843$1,696,712
74$2,087,740$683,900$457,948$1,822,437
75$2,264,722$681,443$437,322$1,960,085
76$2,458,623$677,733$414,871$2,110,867
77$2,671,133$672,673$390,500$2,276,115
78$2,904,114$666,159$364,107$2,457,298
79$3,159,616$658,082$335,586$2,656,035
80$3,439,895$648,328$304,828$2,874,112
81$3,747,441$636,772$271,715$3,113,496
82$4,084,991$623,285$236,129$3,376,358
83$4,455,564$607,729$197,943$3,665,090
84$4,862,483$589,960$157,026$3,982,327
85$5,309,410$569,822$113,240$4,330,976
86$5,800,379$547,152$66,443$4,714,242
87$6,339,833$521,777$16,484$5,135,655
88$6,932,667$493,516$0$5,599,109
89$7,584,275$462,174$0$6,117,542
90$8,300,598$427,548$0$6,691,729
91$9,088,182$389,420$0$7,323,050
92$9,954,238$347,563$0$8,017,296
93$10,906,713$301,736$0$8,780,846
94$11,954,359$251,684$0$9,620,727
95$13,106,824$197,136$0$10,544,686
96$14,374,733$137,809$0$11,561,255
97$15,769,796$73,401$0$12,679,838
98$17,304,914$3,597$0$13,910,796
99$18,994,301$0$0$15,265,548
100$20,853,621$0$0$16,760,633