Can I retire at age 58 with 599,000?

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 $599,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$49,465$49,024$48,594$48,175$47,765$47,524
2 years$24,488$24,031$23,590$23,161$22,745$22,502
3 years$16,163$15,705$15,264$14,839$14,431$14,192
4 years$12,001$11,545$11,108$10,691$10,292$10,061
5 years$9,505$9,051$8,620$8,212$7,824$7,601
6 years$7,841$7,391$6,967$6,567$6,191$5,976
7 years$6,654$6,207$5,789$5,399$5,035$4,828
8 years$5,763$5,320$4,910$4,529$4,177$3,978
9 years$5,071$4,632$4,229$3,858$3,517$3,327
10 years$4,517$4,083$3,687$3,325$2,997$2,815
11 years$4,065$3,635$3,246$2,894$2,578$2,403
12 years$3,688$3,263$2,881$2,539$2,234$2,067
13 years$3,369$2,949$2,574$2,241$1,948$1,789
14 years$3,097$2,680$2,312$1,989$1,707$1,556
15 years$2,860$2,448$2,088$1,774$1,503$1,359
16 years$2,654$2,246$1,893$1,589$1,329$1,192
17 years$2,472$2,069$1,722$1,427$1,178$1,048
18 years$2,310$1,912$1,572$1,286$1,047$924
19 years$2,166$1,772$1,439$1,162$934$817
20 years$2,036$1,646$1,321$1,053$834$723
21 years$1,918$1,533$1,215$955$746$642
22 years$1,812$1,431$1,120$869$669$570
23 years$1,715$1,339$1,034$791$600$507
24 years$1,626$1,254$956$722$540$452
25 years$1,544$1,177$886$659$486$403
26 years$1,469$1,106$821$603$437$360
27 years$1,400$1,041$763$552$394$321
28 years$1,335$981$709$505$356$287
29 years$1,275$926$660$463$321$257
30 years$1,219$874$615$425$290$230
31 years$1,167$826$573$391$263$206
32 years$1,118$782$535$359$237$184
33 years$1,073$740$499$330$215$165
34 years$1,030$702$466$304$195$148
35 years$989$666$436$280$176$133
36 years$951$632$408$257$160$119
37 years$915$600$382$237$145$107
38 years$881$570$358$219$131$96
39 years$849$542$335$202$119$86
40 years$819$516$314$186$108$77
41 years$790$491$294$172$98$69
42 years$763$468$276$158$89$62
43 years$737$446$259$146$81$56
44 years$712$425$243$135$73$50
45 years$688$405$228$125$66$45
46 years$665$386$215$115$60$41
47 years$644$369$202$106$55$36
48 years$623$352$189$98$50$33
49 years$604$336$178$91$45$29
50 years$585$321$167$84$41$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $599,000, adding $3,187 every year, while hoping to spend $50,947 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: 29/44/27 Blend
57$599,000$599,000$599,000$599,000
58$663,385$631,638$622,354$677,011
59$676,843$608,381$588,996$664,729
60$689,967$582,277$552,812$646,880
61$702,667$553,133$513,655$626,667
62$714,847$520,744$471,370$603,919
63$726,394$484,893$425,794$578,457
64$737,186$445,353$376,758$550,089
65$747,085$401,881$324,086$518,610
66$755,937$354,223$267,592$483,801
67$763,571$302,108$207,084$445,430
68$769,795$245,250$142,361$403,247
69$774,396$183,350$73,212$356,987
70$777,138$116,088$0$306,366
71$777,758$43,128$0$251,249
72$775,964$0$0$213,665
73$771,431$0$0$189,596
74$763,800$0$0$185,364
75$752,672$0$0$179,957
76$737,604$0$0$173,233
77$718,106$0$0$165,034
78$693,636$0$0$155,183
79$663,591$0$0$143,487
80$627,307$0$0$129,731
81$584,046$0$0$113,677
82$532,995$0$0$95,064
83$473,252$0$0$73,600
84$403,820$0$0$48,965
85$323,599$0$0$20,805
86$231,371$0$0$0
87$125,791$0$0$0
88$5,372$0$0$0
89$0$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