Can I retire at age 58 with 607,000?

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 $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%17.3%
1 years$50,125$49,679$49,243$48,818$48,403$46,967
2 years$24,815$24,352$23,905$23,470$23,049$21,614
3 years$16,379$15,915$15,468$15,038$14,623$13,234
4 years$12,162$11,699$11,257$10,834$10,429$9,097
5 years$9,632$9,172$8,736$8,321$7,928$6,656
6 years$7,946$7,490$7,060$6,655$6,273$5,063
7 years$6,742$6,290$5,867$5,471$5,102$3,953
8 years$5,840$5,392$4,975$4,590$4,233$3,144
9 years$5,139$4,694$4,285$3,909$3,564$2,536
10 years$4,578$4,138$3,736$3,370$3,037$2,067
11 years$4,119$3,684$3,289$2,933$2,612$1,698
12 years$3,737$3,306$2,919$2,572$2,263$1,404
13 years$3,414$2,988$2,608$2,271$1,974$1,168
14 years$3,138$2,716$2,343$2,016$1,730$975
15 years$2,899$2,481$2,116$1,798$1,523$816
16 years$2,689$2,276$1,918$1,610$1,346$686
17 years$2,505$2,096$1,745$1,446$1,194$578
18 years$2,341$1,937$1,593$1,304$1,061$487
19 years$2,195$1,795$1,459$1,178$946$412
20 years$2,063$1,668$1,339$1,067$845$348
21 years$1,944$1,554$1,231$968$756$295
22 years$1,836$1,451$1,135$880$678$250
23 years$1,738$1,357$1,048$802$609$212
24 years$1,648$1,271$969$731$547$180
25 years$1,565$1,193$898$668$492$153
26 years$1,489$1,121$832$611$443$130
27 years$1,418$1,055$773$559$400$111
28 years$1,353$994$719$512$361$94
29 years$1,292$938$669$470$326$80
30 years$1,236$886$623$431$294$68
31 years$1,183$837$581$396$266$58
32 years$1,133$792$542$364$241$50
33 years$1,087$750$506$334$218$42
34 years$1,044$711$473$308$197$36
35 years$1,003$675$442$283$179$31
36 years$964$640$413$261$162$26
37 years$928$608$387$240$147$22
38 years$893$578$362$222$133$19
39 years$861$549$339$204$121$16
40 years$830$523$318$188$109$14
41 years$801$498$298$174$99$12
42 years$773$474$280$160$90$10
43 years$746$452$263$148$82$9
44 years$721$430$247$137$74$7
45 years$697$410$231$126$67$6
46 years$674$392$217$117$61$5
47 years$653$374$204$108$56$4
48 years$632$357$192$100$50$4
49 years$612$341$180$92$46$3
50 years$593$325$170$85$42$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $607,000, adding $2,066 every year, while hoping to spend $27,234 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: 74/11/15 Blend
57$607,000$607,000$607,000$607,000
58$671,045$638,874$629,466$718,343
59$710,515$641,202$621,576$752,248
60$753,098$642,732$612,509$785,823
61$799,083$643,394$602,197$821,881
62$848,787$643,118$590,569$860,663
63$902,559$641,827$577,549$902,432
64$960,783$639,439$563,059$947,479
65$1,023,880$635,869$547,018$996,126
66$1,092,313$631,024$529,341$1,048,727
67$1,166,592$624,807$509,937$1,105,672
68$1,247,278$617,116$488,713$1,167,392
69$1,334,987$607,842$465,572$1,234,363
70$1,430,398$596,868$440,411$1,307,109
71$1,534,257$584,073$413,123$1,386,207
72$1,647,385$569,326$383,596$1,472,296
73$1,770,686$552,491$351,715$1,566,078
74$1,905,155$533,422$317,356$1,668,329
75$2,051,886$511,965$280,393$1,779,904
76$2,212,084$487,958$240,692$1,901,746
77$2,387,077$461,227$198,115$2,034,897
78$2,578,323$431,592$152,517$2,180,503
79$2,787,431$398,859$103,745$2,339,830
80$3,016,171$362,825$51,643$2,514,273
81$3,266,492$323,275$0$2,705,372
82$3,540,539$279,980$0$2,915,458
83$3,840,677$232,702$0$3,154,630
84$4,169,507$181,186$0$3,416,707
85$4,529,896$125,163$0$3,703,995
86$4,925,000$64,351$0$4,019,036
87$5,358,296$0$0$4,364,631
88$5,833,613$0$0$4,744,052
89$6,355,169$0$0$5,168,956
90$6,927,609$0$0$5,635,342
91$7,556,050$0$0$6,147,383
92$8,246,130$0$0$6,709,675
93$9,004,059$0$0$7,327,282
94$9,836,675$0$0$8,005,781
95$10,751,516$0$0$8,751,317
96$11,756,884$0$0$9,570,659
97$12,861,923$0$0$10,471,266
98$14,076,709$0$0$11,461,353
99$15,412,345$0$0$12,549,972
100$16,881,059$0$0$13,747,097