Can I retire at age 58 with 617,000?

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 $617,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$50,951$50,497$50,055$49,622$49,200$48,346
2 years$25,223$24,754$24,298$23,857$23,429$22,570
3 years$16,649$16,177$15,723$15,285$14,864$14,029
4 years$12,362$11,892$11,442$11,012$10,601$9,795
5 years$9,791$9,323$8,880$8,458$8,059$7,285
6 years$8,077$7,613$7,176$6,764$6,377$5,636
7 years$6,854$6,393$5,963$5,561$5,186$4,478
8 years$5,936$5,480$5,057$4,665$4,302$3,627
9 years$5,223$4,772$4,356$3,974$3,623$2,980
10 years$4,653$4,206$3,798$3,425$3,087$2,476
11 years$4,187$3,744$3,343$2,981$2,655$2,075
12 years$3,799$3,361$2,967$2,615$2,301$1,751
13 years$3,471$3,037$2,651$2,309$2,006$1,486
14 years$3,190$2,761$2,382$2,049$1,759$1,267
15 years$2,946$2,522$2,150$1,828$1,549$1,085
16 years$2,734$2,314$1,950$1,636$1,369$932
17 years$2,546$2,131$1,774$1,470$1,213$802
18 years$2,380$1,969$1,620$1,325$1,079$692
19 years$2,231$1,825$1,483$1,197$962$599
20 years$2,097$1,696$1,361$1,084$859$519
21 years$1,976$1,580$1,252$984$769$450
22 years$1,866$1,474$1,154$895$689$391
23 years$1,766$1,379$1,065$815$619$340
24 years$1,675$1,292$985$743$556$296
25 years$1,591$1,213$912$679$500$258
26 years$1,513$1,140$846$621$451$225
27 years$1,442$1,072$786$568$406$196
28 years$1,375$1,011$730$520$367$171
29 years$1,313$953$680$477$331$149
30 years$1,256$900$633$438$299$130
31 years$1,202$851$590$402$270$114
32 years$1,152$805$551$370$245$99
33 years$1,105$763$514$340$221$87
34 years$1,061$723$480$313$200$76
35 years$1,019$686$449$288$182$66
36 years$980$651$420$265$164$58
37 years$943$618$393$244$149$51
38 years$908$587$368$225$135$44
39 years$875$559$345$208$123$39
40 years$844$531$323$192$111$34
41 years$814$506$303$177$101$30
42 years$786$482$284$163$92$26
43 years$759$459$267$151$83$23
44 years$733$438$251$139$75$20
45 years$709$417$235$128$68$17
46 years$685$398$221$119$62$15
47 years$663$380$208$110$56$13
48 years$642$363$195$101$51$12
49 years$622$346$183$94$47$10
50 years$602$331$172$86$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $617,000, adding $3,769 every year, while hoping to spend $24,767 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: 76/18/6 Blend
57$617,000$617,000$617,000$617,000
58$683,822$651,121$641,557$735,098
59$727,220$656,674$636,697$774,864
60$774,214$661,669$630,845$814,876
61$825,146$666,052$623,940$858,008
62$880,389$669,767$615,921$904,557
63$940,356$672,754$606,721$954,855
64$1,005,501$674,946$596,274$1,009,264
65$1,076,320$676,277$584,508$1,068,184
66$1,153,363$676,674$571,348$1,132,056
67$1,237,234$676,058$556,715$1,201,367
68$1,328,595$674,348$540,529$1,276,651
69$1,428,178$671,457$522,703$1,358,500
70$1,536,786$667,293$503,147$1,447,562
71$1,655,305$661,757$481,769$1,544,557
72$1,784,709$654,745$458,471$1,650,272
73$1,926,069$646,148$433,150$1,765,580
74$2,080,566$635,848$405,699$1,891,441
75$2,249,501$623,721$376,006$2,028,913
76$2,434,303$609,637$343,956$2,179,163
77$2,636,549$593,456$309,425$2,343,475
78$2,857,974$575,031$272,288$2,523,269
79$3,100,487$554,208$232,409$2,720,106
80$3,366,193$530,821$189,651$2,935,709
81$3,657,409$504,695$143,869$3,171,977
82$3,976,687$475,647$94,911$3,431,003
83$4,326,837$443,482$42,618$3,715,094
84$4,710,955$407,993$0$4,026,795
85$5,132,451$368,963$0$4,369,752
86$5,595,080$326,161$0$4,749,181
87$6,102,979$279,345$0$5,165,767
88$6,660,706$228,256$0$5,623,280
89$7,273,281$172,623$0$6,125,873
90$7,946,234$112,159$0$6,678,123
91$8,685,656$46,562$0$7,285,075
92$9,498,261$0$0$7,952,291
93$10,391,441$0$0$8,690,749
94$11,373,343$0$0$9,512,724
95$12,452,941$0$0$10,416,510
96$13,640,122$0$0$11,410,386
97$14,945,781$0$0$12,503,477
98$16,381,920$0$0$13,705,834
99$17,961,763$0$0$15,028,532
100$19,699,880$0$0$16,483,773