Can I retire at age 58 with 615,000?

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 $615,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$50,786$50,334$49,892$49,462$49,041$48,650
2 years$25,142$24,673$24,220$23,780$23,353$22,959
3 years$16,595$16,124$15,672$15,236$14,816$14,431
4 years$12,322$11,853$11,405$10,977$10,567$10,194
5 years$9,759$9,293$8,851$8,431$8,033$7,673
6 years$8,051$7,588$7,153$6,742$6,356$6,010
7 years$6,831$6,373$5,944$5,543$5,169$4,837
8 years$5,917$5,463$5,041$4,650$4,288$3,970
9 years$5,206$4,756$4,342$3,961$3,611$3,307
10 years$4,638$4,192$3,785$3,414$3,077$2,786
11 years$4,173$3,732$3,332$2,971$2,646$2,368
12 years$3,787$3,350$2,957$2,606$2,293$2,028
13 years$3,459$3,027$2,642$2,301$2,000$1,747
14 years$3,179$2,752$2,374$2,043$1,753$1,513
15 years$2,937$2,514$2,144$1,822$1,544$1,316
16 years$2,725$2,306$1,943$1,631$1,364$1,148
17 years$2,538$2,124$1,768$1,466$1,210$1,005
18 years$2,372$1,963$1,614$1,321$1,075$882
19 years$2,224$1,819$1,478$1,193$959$775
20 years$2,090$1,690$1,356$1,081$856$683
21 years$1,970$1,574$1,248$981$766$603
22 years$1,860$1,470$1,150$892$687$533
23 years$1,761$1,375$1,062$812$617$472
24 years$1,669$1,288$982$741$554$418
25 years$1,586$1,209$909$677$499$371
26 years$1,508$1,136$843$619$449$329
27 years$1,437$1,069$783$566$405$292
28 years$1,371$1,007$728$519$365$260
29 years$1,309$950$678$476$330$231
30 years$1,252$897$631$437$298$206
31 years$1,198$848$588$401$270$183
32 years$1,148$803$549$369$244$163
33 years$1,101$760$513$339$221$145
34 years$1,057$721$479$312$200$129
35 years$1,016$683$448$287$181$115
36 years$977$649$419$264$164$103
37 years$940$616$392$244$149$92
38 years$905$585$367$225$135$82
39 years$872$557$344$207$122$73
40 years$841$530$322$191$111$65
41 years$811$504$302$176$101$58
42 years$783$480$284$163$91$52
43 years$756$458$266$150$83$46
44 years$731$436$250$139$75$41
45 years$706$416$235$128$68$37
46 years$683$397$220$118$62$33
47 years$661$379$207$109$56$30
48 years$640$361$194$101$51$26
49 years$620$345$183$93$46$24
50 years$600$330$172$86$42$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $615,000, adding $3,866 every year, while hoping to spend $38,355 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: 80/8/12 Blend
57$615,000$615,000$615,000$615,000
58$681,718$649,123$639,590$734,442
59$710,444$640,120$620,207$760,618
60$740,814$629,391$598,889$783,963
61$772,956$616,811$575,531$808,466
62$807,009$602,246$550,023$834,224
63$843,124$585,556$522,249$861,344
64$881,468$566,594$492,089$889,947
65$922,222$545,201$459,419$920,163
66$965,584$521,211$424,105$952,137
67$1,011,772$494,449$386,011$986,029
68$1,061,024$464,728$344,993$1,022,015
69$1,113,600$431,851$300,902$1,060,291
70$1,169,786$395,611$253,581$1,101,072
71$1,229,895$355,786$202,866$1,144,594
72$1,294,269$312,145$148,588$1,191,120
73$1,363,286$264,442$90,567$1,240,938
74$1,437,359$212,417$28,618$1,294,369
75$1,516,940$155,795$0$1,351,765
76$1,602,526$94,288$0$1,418,316
77$1,694,664$27,589$0$1,493,872
78$1,793,954$0$0$1,575,269
79$1,901,055$0$0$1,666,985
80$2,016,689$0$0$1,768,645
81$2,141,652$0$0$1,878,521
82$2,276,818$0$0$1,997,382
83$2,423,148$0$0$2,126,076
84$2,581,697$0$0$2,265,533
85$2,753,628$0$0$2,416,776
86$2,940,215$0$0$2,580,931
87$3,142,865$0$0$2,759,235
88$3,363,122$0$0$2,953,051
89$3,602,685$0$0$3,163,876
90$3,863,424$0$0$3,393,357
91$4,147,396$0$0$3,643,309
92$4,456,865$0$0$3,915,726
93$4,794,323$0$0$4,212,806
94$5,162,512$0$0$4,536,964
95$5,564,449$0$0$4,890,861
96$6,003,458$0$0$5,277,427
97$6,483,196$0$0$5,699,884
98$7,007,690$0$0$6,161,784
99$7,581,374$0$0$6,667,033
100$8,209,128$0$0$7,219,935