Can I retire at age 58 with 597,000?

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 $597,000?

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$49,300$48,861$48,432$48,014$47,606$45,807
2 years$24,406$23,951$23,511$23,084$22,669$20,878
3 years$16,109$15,652$15,213$14,790$14,382$12,655
4 years$11,961$11,506$11,071$10,655$10,258$8,607
5 years$9,473$9,021$8,592$8,184$7,798$6,229
6 years$7,815$7,366$6,943$6,545$6,170$4,683
7 years$6,631$6,186$5,770$5,381$5,018$3,613
8 years$5,744$5,303$4,893$4,514$4,163$2,838
9 years$5,054$4,617$4,215$3,845$3,506$2,260
10 years$4,502$4,070$3,674$3,314$2,987$1,818
11 years$4,051$3,623$3,235$2,885$2,569$1,473
12 years$3,676$3,252$2,871$2,530$2,226$1,202
13 years$3,358$2,939$2,565$2,234$1,941$985
14 years$3,086$2,671$2,305$1,983$1,702$810
15 years$2,851$2,440$2,081$1,768$1,498$669
16 years$2,645$2,239$1,887$1,583$1,324$553
17 years$2,463$2,062$1,717$1,423$1,174$459
18 years$2,302$1,905$1,567$1,282$1,044$381
19 years$2,158$1,766$1,435$1,158$931$317
20 years$2,029$1,641$1,317$1,049$831$264
21 years$1,912$1,528$1,211$952$744$220
22 years$1,806$1,427$1,116$866$667$183
23 years$1,709$1,334$1,031$788$598$153
24 years$1,621$1,250$953$719$538$128
25 years$1,539$1,173$883$657$484$107
26 years$1,464$1,103$819$601$436$89
27 years$1,395$1,038$760$550$393$75
28 years$1,331$978$707$504$355$62
29 years$1,271$922$658$462$320$52
30 years$1,215$871$613$424$289$44
31 years$1,163$824$571$389$262$37
32 years$1,115$779$533$358$237$31
33 years$1,069$738$498$329$214$26
34 years$1,026$699$465$303$194$21
35 years$986$663$435$279$176$18
36 years$948$630$407$257$159$15
37 years$912$598$381$236$144$13
38 years$879$568$356$218$131$11
39 years$847$540$334$201$119$9
40 years$816$514$313$185$108$7
41 years$787$489$293$171$98$6
42 years$760$466$275$158$89$5
43 years$734$444$258$146$80$4
44 years$709$423$242$135$73$4
45 years$686$404$228$124$66$3
46 years$663$385$214$115$60$3
47 years$642$368$201$106$55$2
48 years$621$351$189$98$50$2
49 years$602$335$177$91$45$1
50 years$583$320$167$84$41$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $597,000, adding $6,996 every year, while hoping to spend $22,645 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: 42/33/25 Blend
57$597,000$597,000$597,000$597,000
58$665,110$633,469$624,216$687,923
59$708,858$640,415$621,033$711,863
60$756,308$646,943$616,985$735,090
61$807,815$653,007$612,018$759,798
62$863,769$658,561$606,077$786,138
63$924,597$663,554$599,104$814,274
64$990,770$667,932$591,038$844,392
65$1,062,807$671,639$581,816$876,693
66$1,141,277$674,613$571,371$911,405
67$1,226,808$676,790$559,633$948,776
68$1,320,091$678,101$546,528$989,085
69$1,421,885$678,473$531,982$1,032,637
70$1,533,027$677,828$515,913$1,079,773
71$1,654,439$676,084$498,239$1,130,868
72$1,787,133$673,153$478,871$1,186,340
73$1,932,226$668,943$457,719$1,246,649
74$2,090,946$663,355$434,686$1,312,305
75$2,264,648$656,285$409,673$1,383,872
76$2,454,821$647,621$382,576$1,461,975
77$2,663,105$637,247$353,285$1,547,305
78$2,891,308$625,039$321,686$1,640,625
79$3,141,420$610,864$287,661$1,742,781
80$3,415,632$594,583$251,085$1,854,706
81$3,716,357$576,049$211,827$1,977,433
82$4,046,256$555,105$169,753$2,112,103
83$4,408,254$531,586$124,721$2,259,978
84$4,805,579$505,317$76,582$2,422,452
85$5,241,784$476,113$25,183$2,601,066
86$5,720,781$443,778$0$2,797,522
87$6,246,882$408,105$0$3,021,614
88$6,824,838$368,875$0$3,275,190
89$7,459,879$325,857$0$3,553,864
90$8,157,769$278,807$0$3,860,221
91$8,924,860$227,467$0$4,197,110
92$9,768,146$171,563$0$4,567,673
93$10,695,335$110,808$0$4,975,378
94$11,714,920$44,898$0$5,424,050
95$12,836,254$0$0$5,917,907
96$14,069,647$0$0$6,471,222
97$15,426,454$0$0$7,097,922
98$16,919,190$0$0$7,787,495
99$18,561,640$0$0$8,546,321
100$20,368,997$0$0$9,381,428