Can I retire at age 58 with 610,000?

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 $610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$50,373$49,925$49,487$49,059$48,642$48,054
2 years$24,937$24,473$24,023$23,586$23,163$22,571
3 years$16,460$15,993$15,544$15,112$14,696$14,119
4 years$12,222$11,757$11,312$10,887$10,481$9,923
5 years$9,680$9,217$8,779$8,363$7,967$7,430
6 years$7,985$7,527$7,095$6,688$6,304$5,788
7 years$6,776$6,321$5,896$5,498$5,127$4,633
8 years$5,869$5,418$5,000$4,612$4,253$3,781
9 years$5,164$4,718$4,306$3,929$3,582$3,130
10 years$4,600$4,158$3,754$3,387$3,052$2,622
11 years$4,140$3,702$3,305$2,947$2,625$2,215
12 years$3,756$3,323$2,933$2,585$2,275$1,885
13 years$3,431$3,003$2,621$2,282$1,984$1,614
14 years$3,153$2,729$2,355$2,026$1,739$1,388
15 years$2,913$2,493$2,126$1,807$1,531$1,199
16 years$2,703$2,288$1,928$1,618$1,353$1,039
17 years$2,517$2,107$1,754$1,454$1,200$903
18 years$2,353$1,947$1,601$1,310$1,067$787
19 years$2,205$1,804$1,466$1,184$951$687
20 years$2,073$1,677$1,345$1,072$849$601
21 years$1,954$1,562$1,237$973$760$526
22 years$1,845$1,458$1,140$885$681$462
23 years$1,746$1,363$1,053$806$612$405
24 years$1,656$1,277$974$735$550$356
25 years$1,573$1,199$902$671$495$314
26 years$1,496$1,127$837$614$446$276
27 years$1,425$1,060$777$562$402$243
28 years$1,360$999$722$515$362$215
29 years$1,299$943$672$472$327$189
30 years$1,242$890$626$433$296$167
31 years$1,189$841$584$398$267$148
32 years$1,139$796$544$366$242$130
33 years$1,092$754$508$336$219$115
34 years$1,049$715$475$309$198$102
35 years$1,008$678$444$285$179$90
36 years$969$643$415$262$163$80
37 years$932$611$389$242$147$70
38 years$898$581$364$223$134$62
39 years$865$552$341$205$121$55
40 years$834$525$320$189$110$49
41 years$805$500$300$175$100$43
42 years$777$476$281$161$90$38
43 years$750$454$264$149$82$34
44 years$725$433$248$137$75$30
45 years$701$412$233$127$68$26
46 years$678$394$218$117$61$23
47 years$656$376$205$108$56$21
48 years$635$358$193$100$51$18
49 years$615$342$181$93$46$16
50 years$596$327$170$86$42$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $610,000, adding $3,934 every year, while hoping to spend $32,482 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: 56/32/12 Blend
57$610,000$610,000$610,000$610,000
58$676,278$643,948$634,493$711,883
59$710,698$640,941$621,188$733,431
60$747,540$636,698$606,348$752,986
61$787,016$631,124$589,889$773,522
62$829,362$624,118$571,720$795,138
63$874,831$615,575$551,747$817,945
64$923,706$605,380$529,873$842,067
65$976,295$593,414$505,994$867,640
66$1,032,937$579,551$480,005$894,819
67$1,094,003$563,656$451,792$923,773
68$1,159,903$545,587$421,239$954,694
69$1,231,086$525,194$388,223$987,793
70$1,308,045$502,316$352,616$1,023,304
71$1,391,322$476,787$314,286$1,061,490
72$1,481,515$448,426$273,092$1,102,642
73$1,579,277$417,047$228,888$1,147,083
74$1,685,331$382,450$181,523$1,195,172
75$1,800,468$344,424$130,838$1,247,309
76$1,925,562$302,747$76,667$1,303,935
77$2,061,571$257,183$18,837$1,365,544
78$2,209,550$207,483$0$1,432,679
79$2,370,660$153,386$0$1,511,437
80$2,546,179$94,614$0$1,599,929
81$2,737,513$30,874$0$1,696,511
82$2,946,210$0$0$1,802,032
83$3,173,972$0$0$1,930,866
84$3,422,673$0$0$2,083,468
85$3,694,379$0$0$2,250,237
86$3,991,360$0$0$2,432,577
87$4,316,118$0$0$2,632,029
88$4,671,407$0$0$2,850,291
89$5,060,260$0$0$3,089,235
90$5,486,015$0$0$3,350,920
91$5,952,349$0$0$3,637,615
92$6,463,313$0$0$3,951,816
93$7,023,366$0$0$4,296,276
94$7,637,419$0$0$4,674,024
95$8,310,882$0$0$5,088,397
96$9,049,713$0$0$5,543,071
97$9,860,475$0$0$6,042,096
98$10,750,398$0$0$6,589,930
99$11,727,443$0$0$7,191,487
100$12,800,383$0$0$7,852,179