Can I retire at age 58 with 583,000?

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 $583,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$48,144$47,715$47,296$46,888$46,489$45,513
2 years$23,833$23,390$22,959$22,542$22,138$21,159
3 years$15,731$15,285$14,856$14,443$14,045$13,094
4 years$11,681$11,236$10,812$10,405$10,017$9,101
5 years$9,251$8,809$8,390$7,992$7,615$6,737
6 years$7,632$7,194$6,781$6,392$6,025$5,186
7 years$6,476$6,041$5,635$5,255$4,900$4,100
8 years$5,609$5,178$4,779$4,408$4,065$3,304
9 years$4,935$4,509$4,116$3,755$3,423$2,700
10 years$4,397$3,974$3,588$3,237$2,917$2,231
11 years$3,956$3,538$3,159$2,817$2,509$1,859
12 years$3,590$3,176$2,804$2,471$2,174$1,560
13 years$3,279$2,870$2,505$2,181$1,896$1,316
14 years$3,014$2,609$2,251$1,936$1,662$1,115
15 years$2,784$2,383$2,032$1,727$1,463$949
16 years$2,583$2,186$1,842$1,546$1,293$810
17 years$2,406$2,013$1,676$1,389$1,147$693
18 years$2,248$1,861$1,530$1,252$1,020$594
19 years$2,108$1,724$1,401$1,131$909$510
20 years$1,981$1,602$1,286$1,025$812$439
21 years$1,867$1,493$1,183$930$726$378
22 years$1,764$1,393$1,090$845$651$326
23 years$1,669$1,303$1,006$770$584$282
24 years$1,583$1,221$931$702$525$243
25 years$1,503$1,146$862$641$473$211
26 years$1,430$1,077$800$586$426$182
27 years$1,362$1,013$742$537$384$158
28 years$1,299$955$690$492$346$137
29 years$1,241$901$642$451$313$118
30 years$1,187$851$598$414$283$103
31 years$1,136$804$558$380$256$89
32 years$1,089$761$520$349$231$77
33 years$1,044$721$486$321$209$67
34 years$1,002$683$454$296$189$58
35 years$963$648$424$272$172$50
36 years$926$615$397$251$155$44
37 years$891$584$372$231$141$38
38 years$858$555$348$213$128$33
39 years$827$528$326$196$116$29
40 years$797$502$306$181$105$25
41 years$769$478$287$167$95$22
42 years$742$455$269$154$86$19
43 years$717$434$252$142$78$16
44 years$693$413$237$131$71$14
45 years$670$394$222$121$65$12
46 years$648$376$209$112$59$11
47 years$627$359$196$104$53$9
48 years$607$343$184$96$48$8
49 years$588$327$173$88$44$7
50 years$569$313$163$82$40$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $583,000, adding $5,599 every year, while hoping to spend $36,052 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: 30/50/20 Blend
57$583,000$583,000$583,000$583,000
58$648,241$617,342$608,306$663,485
59$676,003$609,233$590,325$667,420
60$705,388$599,518$570,534$668,023
61$736,524$588,081$548,833$667,909
62$769,550$574,797$525,119$667,038
63$804,618$559,537$499,285$665,370
64$841,896$542,161$471,218$662,863
65$881,565$522,522$440,799$659,477
66$923,825$500,466$407,906$655,171
67$968,894$475,828$372,410$649,903
68$1,017,011$448,434$334,176$643,636
69$1,068,439$418,100$293,064$636,328
70$1,123,466$384,632$248,927$627,945
71$1,182,405$347,825$201,612$618,450
72$1,245,603$307,461$150,958$607,810
73$1,313,438$263,311$96,800$595,997
74$1,386,328$215,132$38,961$582,985
75$1,464,729$162,668$0$568,752
76$1,549,141$105,649$0$558,142
77$1,640,117$43,789$0$555,476
78$1,738,260$0$0$552,474
79$1,844,236$0$0$561,958
80$1,958,774$0$0$598,321
81$2,082,678$0$0$637,732
82$2,216,829$0$0$680,482
83$2,362,198$0$0$726,890
84$2,519,852$0$0$777,308
85$2,690,962$0$0$832,121
86$2,876,819$0$0$891,753
87$3,078,842$0$0$956,673
88$3,298,591$0$0$1,027,395
89$3,537,785$0$0$1,104,484
90$3,798,313$0$0$1,188,564
91$4,082,255$0$0$1,280,320
92$4,391,898$0$0$1,380,506
93$4,729,763$0$0$1,489,953
94$5,098,622$0$0$1,609,576
95$5,501,527$0$0$1,740,381
96$5,941,837$0$0$1,883,478
97$6,423,253$0$0$2,040,085
98$6,949,846$0$0$2,211,549
99$7,526,102$0$0$2,399,348
100$8,156,958$0$0$2,605,112