Can I retire at age 58 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$50,208$49,761$49,325$48,899$48,483$46,800
2 years$24,855$24,393$23,944$23,509$23,087$21,409
3 years$16,406$15,941$15,493$15,062$14,647$13,027
4 years$12,182$11,718$11,275$10,852$10,447$8,896
5 years$9,648$9,187$8,750$8,335$7,941$6,465
6 years$7,959$7,502$7,071$6,666$6,284$4,882
7 years$6,754$6,300$5,876$5,480$5,110$3,784
8 years$5,850$5,400$4,984$4,597$4,240$2,987
9 years$5,147$4,702$4,292$3,916$3,570$2,390
10 years$4,585$4,145$3,742$3,375$3,042$1,932
11 years$4,126$3,690$3,295$2,938$2,616$1,574
12 years$3,743$3,312$2,924$2,577$2,267$1,291
13 years$3,420$2,993$2,612$2,275$1,977$1,063
14 years$3,143$2,720$2,347$2,019$1,733$880
15 years$2,903$2,485$2,119$1,801$1,526$730
16 years$2,694$2,280$1,921$1,613$1,349$608
17 years$2,509$2,100$1,748$1,449$1,196$507
18 years$2,345$1,940$1,596$1,306$1,063$424
19 years$2,198$1,798$1,461$1,180$948$354
20 years$2,066$1,671$1,341$1,069$846$297
21 years$1,947$1,557$1,233$970$758$249
22 years$1,839$1,453$1,137$882$679$209
23 years$1,741$1,359$1,050$803$610$176
24 years$1,650$1,273$971$732$548$148
25 years$1,568$1,195$899$669$493$124
26 years$1,491$1,123$834$612$444$104
27 years$1,421$1,057$774$560$400$88
28 years$1,355$996$720$513$361$74
29 years$1,294$939$670$470$326$62
30 years$1,238$887$624$432$295$52
31 years$1,185$839$582$396$266$44
32 years$1,135$794$543$364$241$37
33 years$1,089$752$507$335$218$31
34 years$1,045$712$473$308$198$26
35 years$1,004$676$443$284$179$22
36 years$966$641$414$261$162$19
37 years$929$609$388$241$147$16
38 years$895$579$363$222$133$13
39 years$862$550$340$205$121$11
40 years$831$524$319$189$110$9
41 years$802$498$299$174$99$8
42 years$774$475$280$161$90$7
43 years$748$452$263$148$82$6
44 years$722$431$247$137$74$5
45 years$698$411$232$127$67$4
46 years$675$392$218$117$61$3
47 years$654$374$205$108$56$3
48 years$633$357$192$100$50$2
49 years$613$341$181$92$46$2
50 years$594$326$170$85$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $608,000, adding $6,264 every year, while hoping to spend $44,575 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: 33/37/30 Blend
57$608,000$608,000$608,000$608,000
58$676,477$644,253$634,829$692,491
59$698,051$628,394$608,669$689,402
60$720,330$610,264$580,138$681,714
61$743,342$589,705$549,110$672,578
62$767,110$566,548$515,453$661,897
63$791,664$540,617$479,029$649,570
64$817,031$511,725$439,694$635,489
65$843,240$479,672$397,296$619,542
66$870,324$444,249$351,678$601,610
67$898,314$405,234$302,676$581,568
68$927,244$362,392$250,118$559,283
69$957,150$315,477$193,824$534,617
70$988,069$264,225$133,607$507,425
71$1,020,041$208,360$69,271$477,552
72$1,053,106$147,591$613$444,836
73$1,087,308$81,608$0$409,109
74$1,122,692$10,086$0$393,448
75$1,159,307$0$0$376,129
76$1,197,202$0$0$384,242
77$1,236,432$0$0$396,898
78$1,277,052$0$0$410,008
79$1,319,122$0$0$423,594
80$1,362,706$0$0$437,676
81$1,407,869$0$0$452,276
82$1,454,684$0$0$467,420
83$1,503,224$0$0$483,132
84$1,553,571$0$0$499,440
85$1,605,810$0$0$516,373
86$1,660,031$0$0$533,962
87$1,716,330$0$0$552,239
88$1,774,812$0$0$571,241
89$1,835,587$0$0$591,006
90$1,898,773$0$0$611,574
91$1,964,497$0$0$632,988
92$2,032,893$0$0$655,297
93$2,104,109$0$0$678,549
94$2,178,300$0$0$702,801
95$2,255,636$0$0$728,110
96$2,336,297$0$0$754,539
97$2,420,478$0$0$782,158
98$2,508,392$0$0$811,039
99$2,600,264$0$0$841,263
100$2,696,343$0$0$872,916