Can I retire at age 58 with 584,000?

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 $584,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$48,226$47,797$47,377$46,968$46,569$44,917
2 years$23,874$23,430$22,999$22,581$22,176$20,529
3 years$15,758$15,312$14,882$14,468$14,069$12,479
4 years$11,701$11,256$10,830$10,423$10,034$8,513
5 years$9,267$8,825$8,405$8,006$7,628$6,180
6 years$7,645$7,206$6,792$6,403$6,036$4,662
7 years$6,487$6,052$5,644$5,264$4,909$3,609
8 years$5,619$5,187$4,787$4,416$4,072$2,845
9 years$4,944$4,516$4,123$3,761$3,429$2,274
10 years$4,404$3,981$3,594$3,242$2,922$1,836
11 years$3,963$3,544$3,164$2,822$2,513$1,494
12 years$3,596$3,181$2,808$2,475$2,178$1,223
13 years$3,285$2,875$2,509$2,185$1,899$1,007
14 years$3,019$2,613$2,254$1,940$1,665$832
15 years$2,789$2,387$2,035$1,730$1,466$689
16 years$2,587$2,190$1,845$1,549$1,295$573
17 years$2,410$2,017$1,679$1,392$1,149$477
18 years$2,252$1,864$1,533$1,254$1,021$398
19 years$2,111$1,727$1,403$1,133$910$333
20 years$1,985$1,605$1,288$1,026$813$278
21 years$1,870$1,495$1,185$931$728$233
22 years$1,767$1,396$1,092$847$652$195
23 years$1,672$1,305$1,008$771$585$164
24 years$1,585$1,223$932$703$526$137
25 years$1,506$1,148$864$642$474$115
26 years$1,432$1,079$801$587$427$97
27 years$1,364$1,015$744$538$385$81
28 years$1,302$957$691$493$347$68
29 years$1,243$902$643$452$313$58
30 years$1,189$852$599$415$283$48
31 years$1,138$806$559$381$256$41
32 years$1,090$762$521$350$232$34
33 years$1,046$722$487$322$210$29
34 years$1,004$684$455$296$190$24
35 years$965$649$425$273$172$20
36 years$928$616$398$251$156$17
37 years$893$585$372$231$141$14
38 years$859$556$349$213$128$12
39 years$828$529$327$197$116$10
40 years$798$503$306$181$105$9
41 years$770$479$287$167$95$7
42 years$744$456$269$154$87$6
43 years$718$434$253$143$79$5
44 years$694$414$237$132$71$4
45 years$671$395$223$122$65$4
46 years$649$377$209$112$59$3
47 years$628$360$197$104$53$3
48 years$608$343$185$96$49$2
49 years$589$328$174$89$44$2
50 years$570$313$163$82$40$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $584,000, adding $3,803 every year, while hoping to spend $44,070 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: 68/9/23 Blend
57$584,000$584,000$584,000$584,000
58$647,491$616,539$607,487$687,494
59$666,645$599,859$580,947$698,104
60$686,275$580,885$552,042$704,272
61$706,385$559,458$520,645$709,979
62$726,974$535,409$486,624$715,179
63$748,042$508,560$449,843$719,820
64$769,586$478,724$410,157$723,851
65$791,604$445,702$367,417$727,213
66$814,088$409,282$321,466$729,846
67$837,030$369,242$272,140$731,682
68$860,420$325,347$219,269$732,652
69$884,242$277,349$162,675$732,679
70$908,481$224,985$102,170$731,680
71$933,114$167,977$37,561$729,568
72$958,117$106,033$0$726,249
73$983,459$38,843$0$729,324
74$1,009,107$0$0$741,317
75$1,035,018$0$0$756,298
76$1,061,147$0$0$775,269
77$1,087,438$0$0$794,343
78$1,113,829$0$0$813,473
79$1,140,250$0$0$832,604
80$1,166,619$0$0$851,676
81$1,192,844$0$0$870,618
82$1,218,823$0$0$889,353
83$1,244,437$0$0$907,792
84$1,269,554$0$0$925,834
85$1,294,027$0$0$943,369
86$1,317,687$0$0$960,270
87$1,340,348$0$0$976,396
88$1,361,801$0$0$991,589
89$1,381,811$0$0$1,005,674
90$1,400,116$0$0$1,018,453
91$1,416,427$0$0$1,029,707
92$1,430,415$0$0$1,039,191
93$1,441,721$0$0$1,046,632
94$1,449,939$0$0$1,051,729
95$1,454,623$0$0$1,054,142
96$1,455,273$0$0$1,053,499
97$1,451,337$0$0$1,049,382
98$1,442,199$0$0$1,041,332
99$1,427,178$0$0$1,028,835
100$1,405,517$0$0$1,011,323