Can I retire at age 58 with 609,000?

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 $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%16.8%
1 years$50,291$49,843$49,406$48,979$48,563$47,216
2 years$24,896$24,433$23,983$23,548$23,125$21,779
3 years$16,433$15,967$15,519$15,087$14,671$13,367
4 years$12,202$11,737$11,294$10,869$10,464$9,212
5 years$9,664$9,202$8,764$8,349$7,954$6,758
6 years$7,972$7,514$7,083$6,677$6,294$5,154
7 years$6,765$6,311$5,886$5,489$5,119$4,036
8 years$5,859$5,409$4,992$4,605$4,247$3,220
9 years$5,156$4,710$4,299$3,922$3,576$2,605
10 years$4,593$4,151$3,748$3,381$3,047$2,129
11 years$4,133$3,696$3,300$2,942$2,621$1,755
12 years$3,750$3,317$2,929$2,581$2,271$1,456
13 years$3,426$2,998$2,617$2,279$1,980$1,215
14 years$3,148$2,725$2,351$2,023$1,736$1,018
15 years$2,908$2,489$2,123$1,804$1,528$856
16 years$2,698$2,284$1,924$1,615$1,351$721
17 years$2,513$2,103$1,751$1,451$1,198$610
18 years$2,349$1,944$1,599$1,308$1,065$516
19 years$2,202$1,801$1,463$1,182$949$438
20 years$2,070$1,674$1,343$1,070$848$372
21 years$1,951$1,559$1,235$971$759$316
22 years$1,842$1,455$1,139$883$680$269
23 years$1,743$1,361$1,051$804$611$229
24 years$1,653$1,275$972$734$549$196
25 years$1,570$1,197$901$670$494$167
26 years$1,494$1,125$835$613$445$142
27 years$1,423$1,059$776$561$401$122
28 years$1,357$998$721$514$362$104
29 years$1,296$941$671$471$327$89
30 years$1,240$889$625$432$295$76
31 years$1,187$840$583$397$267$65
32 years$1,137$795$544$365$241$55
33 years$1,091$753$508$336$219$47
34 years$1,047$713$474$309$198$41
35 years$1,006$677$443$284$179$35
36 years$967$642$415$262$162$30
37 years$931$610$388$241$147$25
38 years$896$580$364$222$133$22
39 years$864$551$341$205$121$19
40 years$833$525$319$189$110$16
41 years$803$499$299$174$100$14
42 years$775$476$281$161$90$12
43 years$749$453$263$149$82$10
44 years$724$432$247$137$74$9
45 years$700$412$232$127$68$7
46 years$677$393$218$117$61$6
47 years$655$375$205$108$56$5
48 years$634$358$193$100$51$5
49 years$614$342$181$92$46$4
50 years$595$326$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 $609,000, adding $3,480 every year, while hoping to spend $21,681 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: 45/41/14 Blend
57$609,000$609,000$609,000$609,000
58$674,708$642,431$632,991$702,224
59$720,459$650,841$631,128$730,145
60$770,151$658,937$628,476$757,936
61$824,162$666,681$624,985$787,599
62$882,909$674,030$620,604$819,313
63$946,850$680,943$615,279$853,280
64$1,016,491$687,371$608,953$889,723
65$1,092,387$693,266$601,567$928,886
66$1,175,148$698,574$593,057$971,041
67$1,265,449$703,239$583,360$1,016,488
68$1,364,029$707,202$572,407$1,065,559
69$1,471,703$710,399$560,126$1,118,621
70$1,589,370$712,761$546,443$1,176,078
71$1,718,016$714,217$531,279$1,238,378
72$1,858,730$714,690$514,553$1,306,016
73$2,012,709$714,098$496,180$1,379,538
74$2,181,272$712,356$476,069$1,459,549
75$2,365,872$709,371$454,127$1,546,715
76$2,568,107$705,047$430,257$1,641,774
77$2,789,739$699,279$404,355$1,745,540
78$3,032,708$691,959$376,317$1,858,913
79$3,299,150$682,971$346,029$1,982,886
80$3,591,417$672,191$313,375$2,118,556
81$3,912,102$659,489$278,233$2,267,134
82$4,264,060$644,726$240,477$2,429,960
83$4,650,434$627,758$199,973$2,608,509
84$5,074,688$608,428$156,582$2,804,413
85$5,540,639$586,574$110,160$3,019,473
86$6,052,489$562,021$60,556$3,255,677
87$6,614,869$534,586$7,610$3,515,220
88$7,232,880$504,075$0$3,800,524
89$7,912,142$470,283$0$4,121,566
90$8,658,846$432,993$0$4,475,682
91$9,479,814$391,974$0$4,865,018
92$10,382,559$346,986$0$5,293,195
93$11,375,363$297,771$0$5,764,210
94$12,467,347$244,059$0$6,282,469
95$13,668,562$185,563$0$6,852,834
96$14,990,081$121,981$0$7,480,665
97$16,444,106$52,995$0$8,171,877
98$18,044,080$0$0$8,932,989
99$19,804,816$0$0$9,781,001
100$21,742,634$0$0$10,740,699