Can I retire at age 58 with 606,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%14.2%
1 years$50,043$49,597$49,162$48,738$48,323$47,484
2 years$24,774$24,312$23,865$23,432$23,011$22,168
3 years$16,352$15,888$15,442$15,013$14,599$13,779
4 years$12,142$11,680$11,238$10,816$10,412$9,621
5 years$9,616$9,157$8,721$8,308$7,915$7,155
6 years$7,933$7,477$7,048$6,644$6,263$5,535
7 years$6,731$6,279$5,857$5,462$5,094$4,398
8 years$5,830$5,383$4,967$4,582$4,226$3,562
9 years$5,130$4,687$4,278$3,903$3,559$2,927
10 years$4,570$4,131$3,730$3,364$3,032$2,432
11 years$4,112$3,678$3,284$2,928$2,608$2,038
12 years$3,731$3,301$2,914$2,568$2,260$1,720
13 years$3,409$2,983$2,604$2,267$1,971$1,460
14 years$3,133$2,711$2,339$2,013$1,727$1,245
15 years$2,894$2,477$2,112$1,795$1,521$1,066
16 years$2,685$2,273$1,915$1,607$1,344$915
17 years$2,501$2,093$1,743$1,444$1,192$788
18 years$2,337$1,934$1,591$1,301$1,060$680
19 years$2,191$1,792$1,456$1,176$945$588
20 years$2,060$1,666$1,336$1,065$844$510
21 years$1,941$1,551$1,229$967$755$442
22 years$1,833$1,448$1,133$879$677$384
23 years$1,735$1,354$1,046$800$608$334
24 years$1,645$1,269$967$730$546$291
25 years$1,562$1,191$896$667$491$253
26 years$1,486$1,119$831$610$443$221
27 years$1,416$1,053$772$558$399$192
28 years$1,351$993$717$511$360$168
29 years$1,290$936$668$469$325$147
30 years$1,234$884$622$430$294$128
31 years$1,181$836$580$395$266$112
32 years$1,132$791$541$363$240$98
33 years$1,085$749$505$334$217$85
34 years$1,042$710$472$307$197$75
35 years$1,001$673$441$283$178$65
36 years$962$639$413$260$162$57
37 years$926$607$386$240$146$50
38 years$892$577$362$221$133$44
39 years$859$549$339$204$120$38
40 years$828$522$318$188$109$33
41 years$799$497$298$174$99$29
42 years$772$473$279$160$90$26
43 years$745$451$262$148$82$22
44 years$720$430$246$137$74$20
45 years$696$410$231$126$67$17
46 years$673$391$217$116$61$15
47 years$651$373$204$108$55$13
48 years$631$356$192$99$50$12
49 years$611$340$180$92$46$10
50 years$592$325$169$85$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $606,000, adding $3,680 every year, while hoping to spend $40,321 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: 24/49/27 Blend
57$606,000$606,000$606,000$606,000
58$671,608$639,490$630,097$681,938
59$697,211$627,924$608,304$679,370
60$724,074$614,439$584,429$672,959
61$752,282$598,900$558,361$665,239
62$781,931$581,162$529,982$656,126
63$813,120$561,071$499,169$645,535
64$845,961$538,466$465,793$633,377
65$880,573$513,176$429,722$619,556
66$917,089$485,018$390,814$603,977
67$955,649$453,801$348,924$586,538
68$996,411$419,323$303,899$567,132
69$1,039,544$381,369$255,579$545,650
70$1,085,234$339,713$203,797$521,979
71$1,133,684$294,114$148,380$496,000
72$1,185,114$244,321$89,145$467,592
73$1,239,768$190,065$25,904$436,628
74$1,297,911$131,064$0$402,978
75$1,359,832$67,021$0$378,489
76$1,425,850$0$0$359,785
77$1,496,311$0$0$340,599
78$1,571,598$0$0$358,774
79$1,652,129$0$0$378,281
80$1,738,360$0$0$399,239
81$1,830,796$0$0$421,780
82$1,929,986$0$0$446,047
83$2,036,535$0$0$472,199
84$2,151,108$0$0$500,409
85$2,274,433$0$0$530,867
86$2,407,310$0$0$563,784
87$2,550,618$0$0$599,390
88$2,705,324$0$0$637,938
89$2,872,488$0$0$679,706
90$3,053,275$0$0$725,001
91$3,248,969$0$0$774,158
92$3,460,978$0$0$827,548
93$3,690,850$0$0$885,579
94$3,940,291$0$0$948,698
95$4,211,173$0$0$1,017,398
96$4,505,558$0$0$1,092,221
97$4,825,713$0$0$1,173,764
98$5,174,132$0$0$1,262,684
99$5,553,560$0$0$1,359,703
100$5,967,017$0$0$1,465,618