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%11.1%
1 years$48,144$47,715$47,296$46,888$46,489$46,274
2 years$23,833$23,390$22,959$22,542$22,138$21,920
3 years$15,731$15,285$14,856$14,443$14,045$13,832
4 years$11,681$11,236$10,812$10,405$10,017$9,811
5 years$9,251$8,809$8,390$7,992$7,615$7,415
6 years$7,632$7,194$6,781$6,392$6,025$5,833
7 years$6,476$6,041$5,635$5,255$4,900$4,715
8 years$5,609$5,178$4,779$4,408$4,065$3,888
9 years$4,935$4,509$4,116$3,755$3,423$3,253
10 years$4,397$3,974$3,588$3,237$2,917$2,754
11 years$3,956$3,538$3,159$2,817$2,509$2,353
12 years$3,590$3,176$2,804$2,471$2,174$2,025
13 years$3,279$2,870$2,505$2,181$1,896$1,754
14 years$3,014$2,609$2,251$1,936$1,662$1,526
15 years$2,784$2,383$2,032$1,727$1,463$1,334
16 years$2,583$2,186$1,842$1,546$1,293$1,171
17 years$2,406$2,013$1,676$1,389$1,147$1,030
18 years$2,248$1,861$1,530$1,252$1,020$909
19 years$2,108$1,724$1,401$1,131$909$804
20 years$1,981$1,602$1,286$1,025$812$713
21 years$1,867$1,493$1,183$930$726$633
22 years$1,764$1,393$1,090$845$651$562
23 years$1,669$1,303$1,006$770$584$501
24 years$1,583$1,221$931$702$525$446
25 years$1,503$1,146$862$641$473$398
26 years$1,430$1,077$800$586$426$356
27 years$1,362$1,013$742$537$384$318
28 years$1,299$955$690$492$346$284
29 years$1,241$901$642$451$313$255
30 years$1,187$851$598$414$283$228
31 years$1,136$804$558$380$256$204
32 years$1,089$761$520$349$231$183
33 years$1,044$721$486$321$209$164
34 years$1,002$683$454$296$189$147
35 years$963$648$424$272$172$132
36 years$926$615$397$251$155$119
37 years$891$584$372$231$141$107
38 years$858$555$348$213$128$96
39 years$827$528$326$196$116$86
40 years$797$502$306$181$105$77
41 years$769$478$287$167$95$70
42 years$742$455$269$154$86$63
43 years$717$434$252$142$78$56
44 years$693$413$237$131$71$51
45 years$670$394$222$121$65$45
46 years$648$376$209$112$59$41
47 years$627$359$196$104$53$37
48 years$607$343$184$96$48$33
49 years$588$327$173$88$44$30
50 years$569$313$163$82$40$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $583,000, adding $6,518 every year, while hoping to spend $48,499 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: 51/27/22 Blend
57$583,000$583,000$583,000$583,000
58$649,189$618,290$609,254$678,014
59$663,804$596,984$578,061$677,336
60$678,284$573,008$544,198$671,102
61$692,564$546,181$507,524$663,313
62$706,572$516,309$467,892$653,839
63$720,224$483,190$425,148$642,542
64$733,428$446,608$379,132$629,273
65$746,081$406,336$329,677$613,871
66$758,067$362,132$276,606$596,163
67$769,256$313,742$219,739$575,963
68$779,503$260,898$158,883$553,069
69$788,646$203,316$93,839$527,266
70$796,505$140,696$24,400$498,320
71$802,880$72,721$0$465,979
72$807,546$0$0$441,639
73$810,256$0$0$420,490
74$810,733$0$0$419,659
75$808,670$0$0$417,366
76$803,726$0$0$413,419
77$795,525$0$0$407,603
78$783,646$0$0$399,683
79$767,626$0$0$389,396
80$746,949$0$0$376,451
81$721,045$0$0$360,527
82$689,283$0$0$341,268
83$650,964$0$0$318,279
84$605,315$0$0$291,125
85$551,480$0$0$259,322
86$488,514$0$0$222,339
87$415,369$0$0$179,586
88$330,890$0$0$130,410
89$233,798$0$0$74,093
90$122,682$0$0$9,838
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0