Can I retire at age 58 with 609,000?

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 $609,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$50,291$49,843$49,406$48,979$48,563$48,035
2 years$24,896$24,433$23,983$23,548$23,125$22,594
3 years$16,433$15,967$15,519$15,087$14,671$14,154
4 years$12,202$11,737$11,294$10,869$10,464$9,963
5 years$9,664$9,202$8,764$8,349$7,954$7,472
6 years$7,972$7,514$7,083$6,677$6,294$5,830
7 years$6,765$6,311$5,886$5,489$5,119$4,674
8 years$5,859$5,409$4,992$4,605$4,247$3,821
9 years$5,156$4,710$4,299$3,922$3,576$3,169
10 years$4,593$4,151$3,748$3,381$3,047$2,659
11 years$4,133$3,696$3,300$2,942$2,621$2,251
12 years$3,750$3,317$2,929$2,581$2,271$1,919
13 years$3,426$2,998$2,617$2,279$1,980$1,646
14 years$3,148$2,725$2,351$2,023$1,736$1,419
15 years$2,908$2,489$2,123$1,804$1,528$1,228
16 years$2,698$2,284$1,924$1,615$1,351$1,066
17 years$2,513$2,103$1,751$1,451$1,198$928
18 years$2,349$1,944$1,599$1,308$1,065$811
19 years$2,202$1,801$1,463$1,182$949$709
20 years$2,070$1,674$1,343$1,070$848$622
21 years$1,951$1,559$1,235$971$759$546
22 years$1,842$1,455$1,139$883$680$480
23 years$1,743$1,361$1,051$804$611$423
24 years$1,653$1,275$972$734$549$372
25 years$1,570$1,197$901$670$494$328
26 years$1,494$1,125$835$613$445$290
27 years$1,423$1,059$776$561$401$256
28 years$1,357$998$721$514$362$226
29 years$1,296$941$671$471$327$200
30 years$1,240$889$625$432$295$177
31 years$1,187$840$583$397$267$157
32 years$1,137$795$544$365$241$139
33 years$1,091$753$508$336$219$123
34 years$1,047$713$474$309$198$109
35 years$1,006$677$443$284$179$97
36 years$967$642$415$262$162$86
37 years$931$610$388$241$147$76
38 years$896$580$364$222$133$67
39 years$864$551$341$205$121$60
40 years$833$525$319$189$110$53
41 years$803$499$299$174$100$47
42 years$775$476$281$161$90$42
43 years$749$453$263$149$82$37
44 years$724$432$247$137$74$33
45 years$700$412$232$127$68$29
46 years$677$393$218$117$61$26
47 years$655$375$205$108$56$23
48 years$634$358$193$100$51$20
49 years$614$342$181$92$46$18
50 years$595$326$170$85$42$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $609,000, adding $3,337 every year, while hoping to spend $22,620 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: 63/19/18 Blend
57$609,000$609,000$609,000$609,000
58$674,560$642,283$632,844$713,787
59$719,298$649,687$629,976$747,979
60$767,840$656,697$626,255$782,445
61$820,553$663,267$621,627$819,552
62$877,835$669,353$616,037$859,558
63$940,127$674,905$609,428$902,749
64$1,007,916$679,871$601,739$949,439
65$1,081,733$684,194$592,908$999,977
66$1,162,167$687,817$582,867$1,054,746
67$1,249,863$690,675$571,548$1,114,169
68$1,345,533$692,701$558,878$1,178,712
69$1,449,958$693,825$544,782$1,248,892
70$1,564,001$693,969$529,179$1,325,276
71$1,688,610$693,055$511,988$1,408,492
72$1,824,830$690,996$493,120$1,499,231
73$1,973,809$687,701$472,486$1,598,256
74$2,136,813$683,074$449,991$1,706,410
75$2,315,237$677,014$425,534$1,824,621
76$2,510,615$669,411$399,014$1,953,914
77$2,724,637$660,152$370,320$2,095,420
78$2,959,164$649,113$339,340$2,250,385
79$3,216,247$636,168$305,955$2,420,185
80$3,498,142$621,178$270,043$2,606,337
81$3,807,336$603,999$231,473$2,810,515
82$4,146,568$584,479$190,111$3,034,565
83$4,518,855$562,456$145,817$3,280,522
84$4,927,519$537,757$98,443$3,550,633
85$5,376,221$510,202$47,835$3,847,373
86$5,868,992$479,598$0$4,173,474
87$6,410,275$445,744$0$4,533,134
88$7,004,961$408,424$0$4,938,371
89$7,658,442$367,412$0$5,383,684
90$8,376,656$322,468$0$5,873,149
91$9,166,145$273,338$0$6,411,256
92$10,034,116$219,756$0$7,002,957
93$10,988,510$161,439$0$7,653,707
94$12,038,077$98,088$0$8,369,521
95$13,192,455$29,389$0$9,157,028
96$14,462,264$0$0$10,023,534
97$15,859,205$0$0$10,986,500
98$17,396,170$0$0$12,052,800
99$19,087,365$0$0$13,226,152
100$20,948,440$0$0$14,517,420