Can I retire at age 58 with 608,000?

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 $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%13.5%
1 years$50,208$49,761$49,325$48,899$48,483$47,778
2 years$24,855$24,393$23,944$23,509$23,087$22,378
3 years$16,406$15,941$15,493$15,062$14,647$13,957
4 years$12,182$11,718$11,275$10,852$10,447$9,780
5 years$9,648$9,187$8,750$8,335$7,941$7,300
6 years$7,959$7,502$7,071$6,666$6,284$5,669
7 years$6,754$6,300$5,876$5,480$5,110$4,522
8 years$5,850$5,400$4,984$4,597$4,240$3,677
9 years$5,147$4,702$4,292$3,916$3,570$3,034
10 years$4,585$4,145$3,742$3,375$3,042$2,532
11 years$4,126$3,690$3,295$2,938$2,616$2,131
12 years$3,743$3,312$2,924$2,577$2,267$1,807
13 years$3,420$2,993$2,612$2,275$1,977$1,540
14 years$3,143$2,720$2,347$2,019$1,733$1,320
15 years$2,903$2,485$2,119$1,801$1,526$1,135
16 years$2,694$2,280$1,921$1,613$1,349$980
17 years$2,509$2,100$1,748$1,449$1,196$848
18 years$2,345$1,940$1,596$1,306$1,063$735
19 years$2,198$1,798$1,461$1,180$948$639
20 years$2,066$1,671$1,341$1,069$846$557
21 years$1,947$1,557$1,233$970$758$485
22 years$1,839$1,453$1,137$882$679$424
23 years$1,741$1,359$1,050$803$610$371
24 years$1,650$1,273$971$732$548$324
25 years$1,568$1,195$899$669$493$284
26 years$1,491$1,123$834$612$444$249
27 years$1,421$1,057$774$560$400$218
28 years$1,355$996$720$513$361$192
29 years$1,294$939$670$470$326$168
30 years$1,238$887$624$432$295$148
31 years$1,185$839$582$396$266$130
32 years$1,135$794$543$364$241$114
33 years$1,089$752$507$335$218$100
34 years$1,045$712$473$308$198$88
35 years$1,004$676$443$284$179$78
36 years$966$641$414$261$162$68
37 years$929$609$388$241$147$60
38 years$895$579$363$222$133$53
39 years$862$550$340$205$121$47
40 years$831$524$319$189$110$41
41 years$802$498$299$174$99$36
42 years$774$475$280$161$90$32
43 years$748$452$263$148$82$28
44 years$722$431$247$137$74$25
45 years$698$411$232$127$67$22
46 years$675$392$218$117$61$19
47 years$654$374$205$108$56$17
48 years$633$357$192$100$50$15
49 years$613$341$181$92$46$13
50 years$594$326$170$85$42$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $608,000, adding $4,650 every year, while hoping to spend $22,057 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: 42/36/22 Blend
57$608,000$608,000$608,000$608,000
58$674,812$642,588$633,164$698,634
59$720,175$650,607$630,907$724,063
60$769,425$658,279$627,835$749,106
61$822,936$665,564$623,897$775,781
62$881,119$672,420$619,041$804,249
63$944,425$678,800$613,210$834,688
64$1,013,351$684,657$606,348$867,298
65$1,088,444$689,936$598,392$902,298
66$1,170,307$694,584$589,279$939,931
67$1,259,601$698,542$578,943$980,466
68$1,357,055$701,746$567,313$1,024,202
69$1,463,473$704,129$554,316$1,071,467
70$1,579,737$705,621$539,875$1,122,628
71$1,706,820$706,147$523,911$1,178,086
72$1,845,794$705,626$506,340$1,238,289
73$1,997,836$703,973$487,073$1,303,731
74$2,164,245$701,097$466,020$1,374,956
75$2,346,451$696,904$443,085$1,452,570
76$2,546,027$691,291$418,167$1,537,239
77$2,764,708$684,150$391,161$1,629,701
78$3,004,403$675,368$361,959$1,730,773
79$3,267,213$664,822$330,447$1,841,355
80$3,555,456$652,385$296,503$1,962,444
81$3,871,682$637,921$260,005$2,095,141
82$4,218,699$621,286$220,822$2,240,663
83$4,599,605$602,326$178,817$2,400,353
84$5,017,806$580,882$133,849$2,575,696
85$5,477,059$556,782$85,770$2,768,333
86$5,981,499$529,845$34,423$2,980,073
87$6,535,685$499,880$0$3,212,919
88$7,144,636$466,685$0$3,473,860
89$7,813,882$430,046$0$3,769,488
90$8,549,518$389,738$0$4,094,448
91$9,358,255$345,521$0$4,451,757
92$10,247,488$297,143$0$4,844,743
93$11,225,366$244,338$0$5,277,074
94$12,300,866$186,822$0$5,752,800
95$13,483,878$124,300$0$6,276,385
96$14,785,299$56,456$0$6,852,754
97$16,217,136$0$0$7,487,338
98$17,792,618$0$0$8,192,879
99$19,526,321$0$0$8,993,976
100$21,434,307$0$0$9,875,694