Can I retire at age 58 with 580,000?

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 $580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$47,896$47,469$47,053$46,647$46,250$45,843
2 years$23,711$23,269$22,841$22,426$22,024$21,614
3 years$15,650$15,207$14,780$14,369$13,973$13,573
4 years$11,621$11,179$10,756$10,352$9,966$9,578
5 years$9,204$8,764$8,347$7,951$7,576$7,202
6 years$7,593$7,157$6,746$6,359$5,994$5,635
7 years$6,443$6,010$5,606$5,228$4,875$4,530
8 years$5,580$5,152$4,754$4,385$4,044$3,714
9 years$4,910$4,486$4,095$3,735$3,406$3,090
10 years$4,374$3,954$3,570$3,220$2,902$2,600
11 years$3,936$3,520$3,143$2,802$2,496$2,207
12 years$3,571$3,159$2,789$2,458$2,163$1,888
13 years$3,263$2,855$2,492$2,170$1,886$1,625
14 years$2,998$2,595$2,239$1,926$1,653$1,405
15 years$2,770$2,371$2,022$1,718$1,456$1,220
16 years$2,570$2,175$1,833$1,538$1,287$1,063
17 years$2,393$2,003$1,668$1,382$1,141$929
18 years$2,237$1,851$1,522$1,246$1,014$814
19 years$2,097$1,715$1,394$1,125$904$715
20 years$1,971$1,594$1,279$1,019$808$629
21 years$1,858$1,485$1,177$925$723$554
22 years$1,754$1,386$1,084$841$648$489
23 years$1,660$1,296$1,001$766$581$432
24 years$1,574$1,215$926$699$523$382
25 years$1,495$1,140$858$638$470$339
26 years$1,422$1,071$795$583$424$300
27 years$1,355$1,008$739$534$382$266
28 years$1,293$950$687$489$345$236
29 years$1,235$896$639$449$311$210
30 years$1,181$846$595$412$281$186
31 years$1,130$800$555$378$254$166
32 years$1,083$757$518$348$230$147
33 years$1,039$717$483$320$208$131
34 years$997$680$452$294$188$117
35 years$958$645$422$271$171$104
36 years$921$612$395$249$155$92
37 years$886$581$370$230$140$82
38 years$854$552$346$212$127$73
39 years$822$525$324$195$115$65
40 years$793$500$304$180$104$58
41 years$765$476$285$166$95$52
42 years$738$453$267$153$86$46
43 years$713$431$251$142$78$41
44 years$689$411$236$131$71$37
45 years$666$392$221$121$64$33
46 years$644$374$208$111$58$29
47 years$624$357$195$103$53$26
48 years$604$341$183$95$48$23
49 years$585$326$172$88$44$21
50 years$566$311$162$81$40$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $580,000, adding $5,230 every year, while hoping to spend $40,441 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: 77/14/9 Blend
57$580,000$580,000$580,000$580,000
58$644,555$613,815$604,825$692,856
59$667,270$600,863$582,057$712,393
60$690,948$585,921$557,172$728,095
61$715,642$568,848$530,055$744,143
62$741,413$549,497$500,587$760,555
63$768,325$527,711$468,645$777,352
64$796,447$503,322$434,098$794,555
65$825,856$476,155$396,811$812,192
66$856,631$446,025$356,642$830,289
67$888,861$412,734$313,443$848,879
68$922,642$376,075$267,061$867,999
69$958,076$335,828$217,332$887,689
70$995,277$291,760$164,090$907,994
71$1,034,366$243,627$107,157$928,967
72$1,075,475$191,168$46,350$950,663
73$1,118,748$134,111$0$973,148
74$1,164,344$72,165$0$998,275
75$1,212,431$5,026$0$1,029,210
76$1,263,198$0$0$1,061,606
77$1,316,846$0$0$1,106,007
78$1,373,597$0$0$1,153,804
79$1,433,694$0$0$1,204,429
80$1,497,401$0$0$1,258,104
81$1,565,005$0$0$1,315,076
82$1,636,824$0$0$1,375,611
83$1,713,202$0$0$1,440,002
84$1,794,518$0$0$1,508,569
85$1,881,185$0$0$1,581,664
86$1,973,656$0$0$1,659,669
87$2,072,427$0$0$1,743,006
88$2,178,043$0$0$1,832,137
89$2,291,101$0$0$1,927,566
90$2,412,253$0$0$2,029,848
91$2,542,218$0$0$2,139,591
92$2,681,782$0$0$2,257,464
93$2,831,811$0$0$2,384,197
94$2,993,251$0$0$2,520,597
95$3,167,146$0$0$2,667,545
96$3,354,637$0$0$2,826,013
97$3,556,983$0$0$2,997,065
98$3,775,564$0$0$3,181,872
99$4,011,897$0$0$3,381,721
100$4,267,649$0$0$3,598,028