Can I retire at age 58 with 607,000?

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 $607,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$50,125$49,679$49,243$48,818$48,403$48,138
2 years$24,815$24,352$23,905$23,470$23,049$22,782
3 years$16,379$15,915$15,468$15,038$14,623$14,362
4 years$12,162$11,699$11,257$10,834$10,429$10,176
5 years$9,632$9,172$8,736$8,321$7,928$7,684
6 years$7,946$7,490$7,060$6,655$6,273$6,038
7 years$6,742$6,290$5,867$5,471$5,102$4,875
8 years$5,840$5,392$4,975$4,590$4,233$4,015
9 years$5,139$4,694$4,285$3,909$3,564$3,356
10 years$4,578$4,138$3,736$3,370$3,037$2,837
11 years$4,119$3,684$3,289$2,933$2,612$2,421
12 years$3,737$3,306$2,919$2,572$2,263$2,081
13 years$3,414$2,988$2,608$2,271$1,974$1,800
14 years$3,138$2,716$2,343$2,016$1,730$1,565
15 years$2,899$2,481$2,116$1,798$1,523$1,366
16 years$2,689$2,276$1,918$1,610$1,346$1,197
17 years$2,505$2,096$1,745$1,446$1,194$1,052
18 years$2,341$1,937$1,593$1,304$1,061$927
19 years$2,195$1,795$1,459$1,178$946$819
20 years$2,063$1,668$1,339$1,067$845$724
21 years$1,944$1,554$1,231$968$756$642
22 years$1,836$1,451$1,135$880$678$570
23 years$1,738$1,357$1,048$802$609$507
24 years$1,648$1,271$969$731$547$451
25 years$1,565$1,193$898$668$492$402
26 years$1,489$1,121$832$611$443$358
27 years$1,418$1,055$773$559$400$320
28 years$1,353$994$719$512$361$286
29 years$1,292$938$669$470$326$255
30 years$1,236$886$623$431$294$228
31 years$1,183$837$581$396$266$204
32 years$1,133$792$542$364$241$183
33 years$1,087$750$506$334$218$164
34 years$1,044$711$473$308$197$147
35 years$1,003$675$442$283$179$131
36 years$964$640$413$261$162$118
37 years$928$608$387$240$147$106
38 years$893$578$362$222$133$95
39 years$861$549$339$204$121$85
40 years$830$523$318$188$109$76
41 years$801$498$298$174$99$68
42 years$773$474$280$160$90$61
43 years$746$452$263$148$82$55
44 years$721$430$247$137$74$49
45 years$697$410$231$126$67$44
46 years$674$392$217$117$61$40
47 years$653$374$204$108$56$36
48 years$632$357$192$100$50$32
49 years$612$341$180$92$46$29
50 years$593$325$170$85$42$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $607,000, adding $2,073 every year, while hoping to spend $46,597 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: 42/49/9 Blend
57$607,000$607,000$607,000$607,000
58$671,052$638,881$629,473$697,382
59$689,921$620,608$600,981$697,686
60$709,152$599,877$569,974$693,156
61$728,734$576,519$536,316$687,195
62$748,652$550,356$499,870$679,691
63$768,887$521,196$460,488$670,525
64$789,418$488,839$418,019$659,570
65$810,220$453,073$372,304$646,689
66$831,263$413,674$323,176$631,738
67$852,511$370,404$270,462$614,564
68$873,925$323,011$213,981$595,001
69$895,459$271,232$153,542$572,875
70$917,060$214,787$88,950$548,000
71$938,667$153,378$19,997$520,176
72$960,212$86,695$0$489,191
73$981,618$14,407$0$459,966
74$1,002,796$0$0$429,495
75$1,023,647$0$0$430,042
76$1,044,060$0$0$438,112
77$1,063,910$0$0$445,878
78$1,083,055$0$0$453,273
79$1,101,337$0$0$460,222
80$1,118,580$0$0$466,643
81$1,134,586$0$0$472,442
82$1,149,135$0$0$477,517
83$1,161,981$0$0$481,750
84$1,172,850$0$0$485,015
85$1,181,436$0$0$487,167
86$1,187,400$0$0$488,049
87$1,190,365$0$0$487,483
88$1,189,910$0$0$485,273
89$1,185,570$0$0$481,202
90$1,176,827$0$0$475,029
91$1,163,108$0$0$466,485
92$1,143,776$0$0$455,274
93$1,118,126$0$0$441,068
94$1,085,378$0$0$423,502
95$1,044,664$0$0$402,175
96$995,028$0$0$376,639
97$935,409$0$0$346,402
98$864,634$0$0$310,918
99$781,405$0$0$269,585
100$684,287$0$0$221,734