Can I retire at age 58 with 590,000?

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 $590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$48,722$48,288$47,864$47,451$47,047$46,790
2 years$24,120$23,670$23,235$22,813$22,404$22,144
3 years$15,920$15,469$15,035$14,616$14,214$13,960
4 years$11,821$11,371$10,941$10,530$10,137$9,891
5 years$9,362$8,915$8,491$8,088$7,706$7,468
6 years$7,724$7,280$6,862$6,468$6,098$5,869
7 years$6,554$6,114$5,702$5,318$4,959$4,739
8 years$5,677$5,241$4,836$4,461$4,114$3,903
9 years$4,995$4,563$4,165$3,800$3,465$3,262
10 years$4,450$4,022$3,631$3,276$2,952$2,758
11 years$4,004$3,580$3,197$2,851$2,539$2,353
12 years$3,633$3,214$2,837$2,500$2,200$2,023
13 years$3,319$2,904$2,535$2,208$1,919$1,750
14 years$3,050$2,640$2,278$1,960$1,682$1,521
15 years$2,817$2,412$2,056$1,748$1,481$1,328
16 years$2,614$2,213$1,864$1,565$1,309$1,163
17 years$2,435$2,038$1,697$1,406$1,160$1,022
18 years$2,275$1,883$1,549$1,267$1,032$901
19 years$2,133$1,745$1,418$1,145$920$796
20 years$2,005$1,622$1,301$1,037$821$704
21 years$1,890$1,510$1,197$941$735$624
22 years$1,785$1,410$1,103$856$659$554
23 years$1,689$1,319$1,018$779$591$493
24 years$1,602$1,236$942$711$532$438
25 years$1,521$1,159$872$649$478$391
26 years$1,447$1,090$809$593$431$348
27 years$1,378$1,026$751$543$389$311
28 years$1,315$966$698$498$351$278
29 years$1,256$912$650$456$317$248
30 years$1,201$861$605$419$286$222
31 years$1,150$814$564$385$259$199
32 years$1,102$770$527$354$234$178
33 years$1,057$729$492$325$212$159
34 years$1,014$691$459$299$192$143
35 years$975$656$430$275$174$128
36 years$937$622$402$254$157$114
37 years$902$591$376$234$143$103
38 years$868$562$352$215$129$92
39 years$837$534$330$199$117$83
40 years$807$508$309$183$106$74
41 years$778$484$290$169$96$66
42 years$751$461$272$156$88$60
43 years$725$439$255$144$79$53
44 years$701$418$240$133$72$48
45 years$678$399$225$123$65$43
46 years$655$381$211$113$59$39
47 years$634$363$199$105$54$35
48 years$614$347$187$97$49$31
49 years$595$331$175$89$45$28
50 years$576$316$165$83$40$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $590,000, adding $4,165 every year, while hoping to spend $31,341 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: 69/9/22 Blend
57$590,000$590,000$590,000$590,000
58$654,476$623,206$614,061$695,754
59$687,886$620,397$601,286$721,081
60$723,654$616,399$587,032$744,745
61$761,986$611,122$571,217$769,887
62$803,110$604,469$553,754$796,651
63$847,276$596,337$534,554$825,195
64$894,758$586,617$513,522$855,698
65$945,857$575,195$490,558$888,353
66$1,000,902$561,947$465,560$923,378
67$1,060,257$546,746$438,419$961,011
68$1,124,320$529,453$409,022$1,001,518
69$1,193,529$509,924$377,253$1,045,190
70$1,268,365$488,006$342,986$1,092,350
71$1,349,356$463,537$306,095$1,143,358
72$1,437,085$436,344$266,443$1,198,607
73$1,532,189$406,247$223,891$1,258,535
74$1,635,373$373,054$178,292$1,323,626
75$1,747,409$336,561$129,492$1,394,413
76$1,869,148$296,556$77,333$1,471,485
77$2,001,524$252,810$21,647$1,555,496
78$2,145,566$205,085$0$1,647,165
79$2,302,408$153,128$0$1,756,158
80$2,473,294$96,671$0$1,880,482
81$2,659,596$35,434$0$2,016,068
82$2,862,822$0$0$2,164,035
83$3,084,634$0$0$2,328,673
84$3,326,859$0$0$2,512,327
85$3,591,510$0$0$2,713,016
86$3,880,804$0$0$2,932,425
87$4,197,178$0$0$3,172,408
88$4,543,320$0$0$3,435,008
89$4,922,185$0$0$3,722,471
90$5,337,032$0$0$4,037,274
91$5,791,446$0$0$4,382,142
92$6,289,376$0$0$4,760,079
93$6,835,171$0$0$5,174,391
94$7,433,623$0$0$5,628,719
95$8,090,007$0$0$6,127,075
96$8,810,133$0$0$6,673,876
97$9,600,404$0$0$7,273,989
98$10,467,868$0$0$7,932,774
99$11,420,293$0$0$8,656,135
100$12,466,233$0$0$9,450,577