Can I retire at age 58 with 592,000?

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 $592,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$48,887$48,451$48,026$47,612$47,207$46,122
2 years$24,201$23,751$23,314$22,890$22,479$21,392
3 years$15,974$15,521$15,086$14,666$14,262$13,207
4 years$11,861$11,410$10,978$10,566$10,172$9,156
5 years$9,394$8,945$8,520$8,116$7,732$6,760
6 years$7,750$7,305$6,885$6,490$6,118$5,190
7 years$6,576$6,134$5,722$5,336$4,976$4,091
8 years$5,696$5,258$4,852$4,476$4,128$3,287
9 years$5,012$4,578$4,179$3,813$3,476$2,678
10 years$4,465$4,036$3,644$3,287$2,962$2,206
11 years$4,017$3,593$3,208$2,860$2,547$1,832
12 years$3,645$3,225$2,847$2,509$2,208$1,532
13 years$3,330$2,914$2,543$2,215$1,925$1,289
14 years$3,060$2,649$2,285$1,966$1,687$1,088
15 years$2,827$2,420$2,063$1,754$1,486$923
16 years$2,623$2,220$1,871$1,570$1,313$785
17 years$2,443$2,045$1,702$1,411$1,164$669
18 years$2,283$1,889$1,554$1,271$1,035$571
19 years$2,140$1,751$1,423$1,149$923$489
20 years$2,012$1,627$1,306$1,040$824$419
21 years$1,896$1,516$1,201$944$738$360
22 years$1,791$1,415$1,107$859$661$309
23 years$1,695$1,323$1,022$782$593$266
24 years$1,607$1,240$945$713$533$229
25 years$1,526$1,163$875$651$480$197
26 years$1,452$1,093$812$595$432$170
27 years$1,383$1,029$754$545$390$147
28 years$1,319$970$701$499$352$126
29 years$1,260$915$652$458$318$109
30 years$1,205$864$607$420$287$94
31 years$1,154$817$566$386$259$81
32 years$1,105$773$528$355$235$70
33 years$1,060$732$493$326$212$61
34 years$1,018$694$461$300$192$52
35 years$978$658$431$276$174$45
36 years$940$624$403$254$158$39
37 years$905$593$377$234$143$34
38 years$871$564$353$216$130$29
39 years$839$536$331$199$118$25
40 years$809$510$310$184$107$22
41 years$781$485$291$170$97$19
42 years$754$462$273$156$88$16
43 years$728$440$256$144$80$14
44 years$703$420$240$133$72$12
45 years$680$400$226$123$66$11
46 years$658$382$212$114$60$9
47 years$636$364$199$105$54$8
48 years$616$348$187$97$49$7
49 years$597$332$176$90$45$6
50 years$578$317$165$83$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $592,000, adding $3,965 every year, while hoping to spend $41,859 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: 45/50/5 Blend
57$592,000$592,000$592,000$592,000
58$656,474$625,098$615,922$684,942
59$678,897$611,190$592,018$691,037
60$702,203$595,198$565,910$692,958
61$726,440$576,975$537,480$694,055
62$751,657$556,366$506,605$694,263
63$777,906$533,208$473,156$693,515
64$805,244$507,327$436,998$691,744
65$833,732$478,539$397,991$688,874
66$863,436$446,651$355,987$684,830
67$894,427$411,457$310,833$679,532
68$926,781$372,741$262,369$672,895
69$960,580$330,273$210,426$664,831
70$995,914$283,811$154,830$655,249
71$1,032,879$233,099$95,398$644,052
72$1,071,578$177,867$31,939$631,141
73$1,112,125$117,828$0$616,412
74$1,154,643$52,682$0$601,666
75$1,199,263$0$0$586,824
76$1,246,130$0$0$579,917
77$1,295,400$0$0$603,152
78$1,347,244$0$0$627,626
79$1,401,848$0$0$653,429
80$1,459,412$0$0$680,660
81$1,520,157$0$0$709,427
82$1,584,322$0$0$739,847
83$1,652,169$0$0$772,049
84$1,723,983$0$0$806,173
85$1,800,076$0$0$842,372
86$1,880,789$0$0$880,813
87$1,966,492$0$0$921,680
88$2,057,595$0$0$965,172
89$2,154,541$0$0$1,011,509
90$2,257,818$0$0$1,060,931
91$2,367,960$0$0$1,113,701
92$2,485,552$0$0$1,170,107
93$2,611,234$0$0$1,230,464
94$2,745,708$0$0$1,295,120
95$2,889,745$0$0$1,364,454
96$3,044,189$0$0$1,438,883
97$3,209,966$0$0$1,518,864
98$3,388,094$0$0$1,604,899
99$3,579,688$0$0$1,697,540
100$3,785,974$0$0$1,797,392