Can I retire at age 58 with 598,000?

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 $598,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$49,382$48,942$48,513$48,094$47,685$47,148
2 years$24,447$23,991$23,550$23,122$22,707$22,167
3 years$16,136$15,679$15,238$14,815$14,406$13,879
4 years$11,981$11,525$11,090$10,673$10,275$9,764
5 years$9,489$9,036$8,606$8,198$7,811$7,319
6 years$7,828$7,379$6,955$6,556$6,180$5,708
7 years$6,643$6,197$5,780$5,390$5,026$4,574
8 years$5,754$5,312$4,902$4,522$4,170$3,737
9 years$5,062$4,625$4,222$3,851$3,512$3,098
10 years$4,510$4,076$3,681$3,320$2,992$2,597
11 years$4,058$3,629$3,240$2,889$2,573$2,197
12 years$3,682$3,257$2,876$2,534$2,230$1,872
13 years$3,364$2,944$2,569$2,237$1,945$1,605
14 years$3,091$2,676$2,308$1,986$1,705$1,382
15 years$2,856$2,444$2,084$1,771$1,501$1,195
16 years$2,649$2,243$1,890$1,586$1,326$1,037
17 years$2,468$2,065$1,720$1,425$1,176$903
18 years$2,306$1,908$1,570$1,284$1,046$788
19 years$2,162$1,769$1,437$1,160$932$689
20 years$2,032$1,644$1,319$1,051$833$603
21 years$1,915$1,531$1,213$954$745$529
22 years$1,809$1,429$1,118$867$668$465
23 years$1,712$1,337$1,032$790$599$409
24 years$1,623$1,252$955$720$539$360
25 years$1,542$1,175$884$658$485$317
26 years$1,467$1,105$820$602$437$280
27 years$1,397$1,039$762$551$394$247
28 years$1,333$979$708$504$355$218
29 years$1,273$924$659$463$321$193
30 years$1,217$873$614$425$290$171
31 years$1,165$825$572$390$262$151
32 years$1,117$781$534$358$237$133
33 years$1,071$739$498$330$215$118
34 years$1,028$701$466$303$194$105
35 years$988$665$435$279$176$93
36 years$950$631$407$257$159$82
37 years$914$599$381$237$144$73
38 years$880$569$357$218$131$64
39 years$848$541$334$201$119$57
40 years$818$515$313$186$108$51
41 years$789$490$294$171$98$45
42 years$761$467$276$158$89$40
43 years$735$445$259$146$80$35
44 years$711$424$243$135$73$31
45 years$687$404$228$124$66$28
46 years$664$386$214$115$60$25
47 years$643$368$201$106$55$22
48 years$622$351$189$98$50$19
49 years$603$336$178$91$45$17
50 years$584$321$167$84$41$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $598,000, adding $5,245 every year, while hoping to spend $44,407 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: 29/48/23 Blend
57$598,000$598,000$598,000$598,000
58$664,406$632,712$623,443$678,781
59$684,927$616,466$597,080$674,094
60$706,052$597,936$568,345$664,775
61$727,798$576,963$537,112$653,833
62$750,177$553,378$503,250$641,157
63$773,206$527,004$466,619$626,629
64$796,899$497,653$427,077$610,125
65$821,270$465,126$384,472$591,513
66$846,335$429,213$338,647$570,656
67$872,107$389,690$289,437$547,407
68$898,600$346,323$236,672$521,611
69$925,828$298,864$180,171$493,105
70$953,804$247,049$119,748$461,717
71$982,540$190,603$55,208$427,264
72$1,012,047$129,231$0$389,554
73$1,042,337$62,624$0$351,740
74$1,073,419$0$0$324,929
75$1,105,302$0$0$300,427
76$1,137,992$0$0$309,211
77$1,171,494$0$0$318,202
78$1,205,813$0$0$327,400
79$1,240,949$0$0$336,803
80$1,276,902$0$0$346,410
81$1,313,667$0$0$356,217
82$1,351,238$0$0$366,220
83$1,389,603$0$0$376,414
84$1,428,749$0$0$386,793
85$1,468,656$0$0$397,347
86$1,509,300$0$0$408,068
87$1,550,651$0$0$418,944
88$1,592,673$0$0$429,960
89$1,635,323$0$0$441,100
90$1,678,550$0$0$452,347
91$1,722,292$0$0$463,678
92$1,766,482$0$0$475,068
93$1,811,037$0$0$486,488
94$1,855,864$0$0$497,907
95$1,900,857$0$0$509,288
96$1,945,893$0$0$520,587
97$1,990,835$0$0$531,759
98$2,035,523$0$0$542,750
99$2,079,782$0$0$553,500
100$2,123,408$0$0$563,941