Can I retire at age 58 with 595,000?

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 $595,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$49,135$48,697$48,270$47,853$47,446$45,654
2 years$24,324$23,871$23,432$23,006$22,593$20,808
3 years$16,055$15,600$15,162$14,740$14,334$12,613
4 years$11,921$11,468$11,034$10,620$10,223$8,579
5 years$9,442$8,991$8,563$8,157$7,772$6,208
6 years$7,789$7,342$6,920$6,523$6,149$4,668
7 years$6,609$6,165$5,751$5,363$5,001$3,601
8 years$5,725$5,285$4,877$4,499$4,149$2,829
9 years$5,037$4,602$4,201$3,832$3,494$2,252
10 years$4,487$4,056$3,662$3,303$2,977$1,812
11 years$4,038$3,611$3,224$2,875$2,560$1,468
12 years$3,663$3,241$2,861$2,522$2,219$1,198
13 years$3,347$2,929$2,556$2,226$1,935$981
14 years$3,076$2,662$2,297$1,976$1,696$807
15 years$2,841$2,432$2,074$1,762$1,493$666
16 years$2,636$2,231$1,880$1,578$1,320$551
17 years$2,455$2,055$1,711$1,418$1,170$457
18 years$2,295$1,899$1,562$1,278$1,041$380
19 years$2,151$1,760$1,430$1,155$927$316
20 years$2,022$1,635$1,312$1,046$828$263
21 years$1,906$1,523$1,207$949$741$219
22 years$1,800$1,422$1,112$863$664$183
23 years$1,703$1,330$1,027$786$596$153
24 years$1,615$1,246$950$717$536$127
25 years$1,534$1,169$880$655$482$107
26 years$1,459$1,099$816$599$435$89
27 years$1,390$1,034$758$548$392$74
28 years$1,326$975$704$502$354$62
29 years$1,267$919$655$460$319$52
30 years$1,211$868$611$422$288$44
31 years$1,159$821$569$388$261$36
32 years$1,111$777$531$357$236$31
33 years$1,066$735$496$328$213$26
34 years$1,023$697$463$302$193$21
35 years$983$661$433$278$175$18
36 years$945$628$405$256$159$15
37 years$909$596$379$236$144$13
38 years$876$566$355$217$130$11
39 years$844$539$333$200$118$9
40 years$813$512$312$185$107$7
41 years$785$488$292$170$97$6
42 years$758$465$274$157$88$5
43 years$732$443$257$145$80$4
44 years$707$422$242$134$73$4
45 years$683$402$227$124$66$3
46 years$661$384$213$114$60$3
47 years$640$366$200$106$54$2
48 years$619$350$188$98$49$2
49 years$600$334$177$90$45$1
50 years$581$319$166$83$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $595,000, adding $5,818 every year, while hoping to spend $36,578 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: 64/18/18 Blend
57$595,000$595,000$595,000$595,000
58$661,691$630,156$620,934$700,695
59$690,265$622,115$602,816$719,558
60$720,527$612,454$582,866$735,465
61$752,612$601,055$560,983$751,971
62$786,665$587,793$537,062$769,138
63$822,846$572,536$510,995$787,034
64$861,329$555,144$482,666$805,732
65$902,306$535,467$451,957$825,319
66$945,986$513,350$418,742$845,889
67$992,598$488,626$382,892$867,548
68$1,042,394$461,119$344,269$890,415
69$1,095,648$430,643$302,732$914,622
70$1,152,662$397,003$258,131$940,318
71$1,213,767$359,990$210,313$967,668
72$1,279,326$319,384$159,113$996,856
73$1,349,738$274,954$104,364$1,028,089
74$1,425,439$226,455$45,888$1,061,595
75$1,506,909$173,627$0$1,097,630
76$1,594,676$116,197$0$1,139,651
77$1,689,318$53,875$0$1,194,412
78$1,791,471$0$0$1,253,483
79$1,901,834$0$0$1,319,997
80$2,021,174$0$0$1,403,494
81$2,150,335$0$0$1,493,896
82$2,290,246$0$0$1,591,857
83$2,441,925$0$0$1,698,096
84$2,606,495$0$0$1,813,403
85$2,785,189$0$0$1,938,648
86$2,979,365$0$0$2,074,787
87$3,190,513$0$0$2,222,871
88$3,420,278$0$0$2,384,058
89$3,670,465$0$0$2,559,622
90$3,943,062$0$0$2,750,963
91$4,240,258$0$0$2,959,625
92$4,564,461$0$0$3,187,304
93$4,918,321$0$0$3,435,869
94$5,304,755$0$0$3,707,376
95$5,726,976$0$0$4,004,090
96$6,188,520$0$0$4,328,504
97$6,693,278$0$0$4,683,362
98$7,245,538$0$0$5,071,686
99$7,850,019$0$0$5,496,803
100$8,511,919$0$0$5,962,378