Can I retire at age 58 with 606,000?

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 $606,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$50,043$49,597$49,162$48,738$48,323$46,851
2 years$24,774$24,312$23,865$23,432$23,011$21,541
3 years$16,352$15,888$15,442$15,013$14,599$13,177
4 years$12,142$11,680$11,238$10,816$10,412$9,048
5 years$9,616$9,157$8,721$8,308$7,915$6,614
6 years$7,933$7,477$7,048$6,644$6,263$5,025
7 years$6,731$6,279$5,857$5,462$5,094$3,919
8 years$5,830$5,383$4,967$4,582$4,226$3,114
9 years$5,130$4,687$4,278$3,903$3,559$2,508
10 years$4,570$4,131$3,730$3,364$3,032$2,041
11 years$4,112$3,678$3,284$2,928$2,608$1,675
12 years$3,731$3,301$2,914$2,568$2,260$1,384
13 years$3,409$2,983$2,604$2,267$1,971$1,149
14 years$3,133$2,711$2,339$2,013$1,727$958
15 years$2,894$2,477$2,112$1,795$1,521$801
16 years$2,685$2,273$1,915$1,607$1,344$672
17 years$2,501$2,093$1,743$1,444$1,192$565
18 years$2,337$1,934$1,591$1,301$1,060$476
19 years$2,191$1,792$1,456$1,176$945$402
20 years$2,060$1,666$1,336$1,065$844$339
21 years$1,941$1,551$1,229$967$755$287
22 years$1,833$1,448$1,133$879$677$243
23 years$1,735$1,354$1,046$800$608$206
24 years$1,645$1,269$967$730$546$175
25 years$1,562$1,191$896$667$491$148
26 years$1,486$1,119$831$610$443$126
27 years$1,416$1,053$772$558$399$107
28 years$1,351$993$717$511$360$91
29 years$1,290$936$668$469$325$77
30 years$1,234$884$622$430$294$65
31 years$1,181$836$580$395$266$56
32 years$1,132$791$541$363$240$47
33 years$1,085$749$505$334$217$40
34 years$1,042$710$472$307$197$34
35 years$1,001$673$441$283$178$29
36 years$962$639$413$260$162$25
37 years$926$607$386$240$146$21
38 years$892$577$362$221$133$18
39 years$859$549$339$204$120$15
40 years$828$522$318$188$109$13
41 years$799$497$298$174$99$11
42 years$772$473$279$160$90$9
43 years$745$451$262$148$82$8
44 years$720$430$246$137$74$7
45 years$696$410$231$126$67$6
46 years$673$391$217$116$61$5
47 years$651$373$204$108$55$4
48 years$631$356$192$99$50$4
49 years$611$340$180$92$46$3
50 years$592$325$169$85$42$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $606,000, adding $3,167 every year, while hoping to spend $25,752 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: 30/49/21 Blend
57$606,000$606,000$606,000$606,000
58$671,079$638,961$629,568$686,728
59$712,129$642,870$623,258$702,829
60$756,503$646,108$615,874$717,614
61$804,513$648,613$607,353$732,980
62$856,502$650,324$597,628$748,992
63$912,846$651,171$586,629$765,726
64$973,960$651,082$574,285$783,266
65$1,040,300$649,981$560,520$801,707
66$1,112,367$647,787$545,254$821,155
67$1,190,713$644,413$528,404$841,731
68$1,275,944$639,767$509,884$863,569
69$1,368,727$633,752$489,602$886,820
70$1,469,797$626,266$467,463$911,654
71$1,579,963$617,200$443,370$938,260
72$1,700,113$606,436$417,216$966,850
73$1,831,226$593,854$388,895$997,661
74$1,974,381$579,322$358,293$1,030,959
75$2,130,763$562,704$325,291$1,067,040
76$2,301,679$543,855$289,766$1,106,233
77$2,488,566$522,619$251,589$1,148,906
78$2,693,006$498,834$210,624$1,195,471
79$2,916,744$472,328$166,731$1,246,384
80$3,161,698$442,919$119,763$1,302,155
81$3,429,982$410,413$69,566$1,363,348
82$3,723,924$374,606$15,979$1,430,596
83$4,046,086$335,284$0$1,504,597
84$4,399,292$292,218$0$1,595,364
85$4,786,651$245,167$0$1,698,949
86$5,211,587$193,878$0$1,812,769
87$5,677,872$138,082$0$1,937,934
88$6,189,662$77,495$0$2,075,670
89$6,751,533$11,818$0$2,227,336
90$7,368,527$0$0$2,394,436
91$8,046,196$0$0$2,610,590
92$8,790,659$0$0$2,855,151
93$9,608,655$0$0$3,123,973
94$10,507,610$0$0$3,419,508
95$11,495,702$0$0$3,744,461
96$12,581,944$0$0$4,101,808
97$13,776,263$0$0$4,494,830
98$15,089,598$0$0$4,927,141
99$16,534,000$0$0$5,402,724
100$18,122,747$0$0$5,925,966