Can I retire at age 58 with 596,000?

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 $596,000?

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$49,217$48,779$48,351$47,934$47,526$46,434
2 years$24,365$23,911$23,471$23,045$22,631$21,537
3 years$16,082$15,626$15,188$14,765$14,358$13,296
4 years$11,941$11,487$11,053$10,637$10,240$9,218
5 years$9,457$9,006$8,577$8,171$7,785$6,806
6 years$7,802$7,354$6,932$6,534$6,160$5,225
7 years$6,620$6,176$5,760$5,372$5,009$4,119
8 years$5,734$5,294$4,885$4,506$4,156$3,309
9 years$5,046$4,609$4,208$3,839$3,500$2,696
10 years$4,495$4,063$3,668$3,309$2,982$2,221
11 years$4,045$3,617$3,230$2,880$2,565$1,845
12 years$3,670$3,246$2,866$2,526$2,222$1,543
13 years$3,353$2,934$2,561$2,230$1,938$1,297
14 years$3,081$2,667$2,301$1,980$1,699$1,096
15 years$2,846$2,436$2,077$1,765$1,496$929
16 years$2,641$2,235$1,883$1,581$1,322$790
17 years$2,459$2,058$1,714$1,420$1,172$673
18 years$2,299$1,902$1,564$1,280$1,042$575
19 years$2,155$1,763$1,432$1,157$929$492
20 years$2,026$1,638$1,314$1,047$830$422
21 years$1,909$1,526$1,209$951$743$362
22 years$1,803$1,424$1,114$864$666$311
23 years$1,706$1,332$1,029$787$597$268
24 years$1,618$1,248$951$718$537$230
25 years$1,537$1,171$881$656$483$198
26 years$1,462$1,101$817$600$435$171
27 years$1,393$1,036$759$549$392$148
28 years$1,328$976$706$503$354$127
29 years$1,269$921$657$461$320$110
30 years$1,213$870$612$423$289$95
31 years$1,161$822$570$389$261$82
32 years$1,113$778$532$357$236$71
33 years$1,067$737$497$328$214$61
34 years$1,025$698$464$302$194$53
35 years$984$662$434$278$175$46
36 years$947$629$406$256$159$39
37 years$911$597$380$236$144$34
38 years$877$567$356$218$131$29
39 years$845$540$333$201$118$25
40 years$815$513$312$185$107$22
41 years$786$489$293$171$97$19
42 years$759$465$275$158$88$16
43 years$733$443$258$145$80$14
44 years$708$423$242$134$73$12
45 years$685$403$227$124$66$11
46 years$662$384$213$115$60$9
47 years$641$367$201$106$55$8
48 years$620$350$188$98$49$7
49 years$601$334$177$90$45$6
50 years$582$320$167$84$41$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $596,000, adding $6,492 every year, while hoping to spend $50,183 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: 44/50/6 Blend
57$596,000$596,000$596,000$596,000
58$663,488$631,900$622,662$691,277
59$677,770$609,469$590,127$688,709
60$691,826$584,257$554,820$680,232
61$705,581$556,075$516,596$669,873
62$718,950$524,721$475,301$657,478
63$731,836$489,986$430,777$642,878
64$744,133$451,645$382,857$625,895
65$755,720$409,461$331,368$606,335
66$766,463$363,184$276,128$583,991
67$776,211$312,549$216,948$558,640
68$784,799$257,278$153,630$530,041
69$792,039$197,075$85,967$497,939
70$797,724$131,629$13,744$462,054
71$801,623$60,610$0$422,089
72$803,480$0$0$381,777
73$803,009$0$0$346,904
74$799,894$0$0$344,056
75$793,782$0$0$339,713
76$784,285$0$0$333,684
77$770,969$0$0$325,760
78$753,355$0$0$315,706
79$730,914$0$0$303,262
80$703,055$0$0$288,143
81$669,129$0$0$270,031
82$628,415$0$0$248,576
83$580,116$0$0$223,389
84$523,350$0$0$194,040
85$457,142$0$0$160,056
86$380,413$0$0$120,911
87$291,972$0$0$76,026
88$190,502$0$0$24,761
89$74,548$0$0$0
90$0$0$0$0
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