Can I retire at age 58 with 617,000?

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 $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%15.7%
1 years$50,951$50,497$50,055$49,622$49,200$48,050
2 years$25,223$24,754$24,298$23,857$23,429$22,276
3 years$16,649$16,177$15,723$15,285$14,864$13,746
4 years$12,362$11,892$11,442$11,012$10,601$9,525
5 years$9,791$9,323$8,880$8,458$8,059$7,029
6 years$8,077$7,613$7,176$6,764$6,377$5,393
7 years$6,854$6,393$5,963$5,561$5,186$4,249
8 years$5,936$5,480$5,057$4,665$4,302$3,412
9 years$5,223$4,772$4,356$3,974$3,623$2,778
10 years$4,653$4,206$3,798$3,425$3,087$2,287
11 years$4,187$3,744$3,343$2,981$2,655$1,899
12 years$3,799$3,361$2,967$2,615$2,301$1,587
13 years$3,471$3,037$2,651$2,309$2,006$1,333
14 years$3,190$2,761$2,382$2,049$1,759$1,125
15 years$2,946$2,522$2,150$1,828$1,549$953
16 years$2,734$2,314$1,950$1,636$1,369$810
17 years$2,546$2,131$1,774$1,470$1,213$690
18 years$2,380$1,969$1,620$1,325$1,079$589
19 years$2,231$1,825$1,483$1,197$962$504
20 years$2,097$1,696$1,361$1,084$859$432
21 years$1,976$1,580$1,252$984$769$370
22 years$1,866$1,474$1,154$895$689$318
23 years$1,766$1,379$1,065$815$619$273
24 years$1,675$1,292$985$743$556$235
25 years$1,591$1,213$912$679$500$202
26 years$1,513$1,140$846$621$451$174
27 years$1,442$1,072$786$568$406$150
28 years$1,375$1,011$730$520$367$129
29 years$1,313$953$680$477$331$112
30 years$1,256$900$633$438$299$96
31 years$1,202$851$590$402$270$83
32 years$1,152$805$551$370$245$72
33 years$1,105$763$514$340$221$62
34 years$1,061$723$480$313$200$53
35 years$1,019$686$449$288$182$46
36 years$980$651$420$265$164$40
37 years$943$618$393$244$149$34
38 years$908$587$368$225$135$30
39 years$875$559$345$208$123$26
40 years$844$531$323$192$111$22
41 years$814$506$303$177$101$19
42 years$786$482$284$163$92$17
43 years$759$459$267$151$83$14
44 years$733$438$251$139$75$12
45 years$709$417$235$128$68$11
46 years$685$398$221$119$62$9
47 years$663$380$208$110$56$8
48 years$642$363$195$101$51$7
49 years$622$346$183$94$47$6
50 years$602$331$172$86$42$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $617,000, adding $3,043 every year, while hoping to spend $45,659 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: 31/50/19 Blend
57$617,000$617,000$617,000$617,000
58$683,073$650,372$640,808$700,108
59$704,165$633,659$613,695$696,455
60$725,879$614,597$584,142$688,168
61$748,229$593,023$552,021$678,278
62$771,231$568,763$517,196$666,675
63$794,899$541,635$479,525$653,240
64$819,249$511,446$438,859$637,847
65$844,296$477,990$395,044$620,363
66$870,054$441,051$347,918$600,650
67$896,538$400,402$297,312$578,558
68$923,762$355,799$243,050$553,931
69$951,740$306,987$184,946$526,604
70$980,485$253,697$122,809$496,403
71$1,010,010$195,643$56,439$463,141
72$1,040,326$132,525$0$426,625
73$1,071,444$64,023$0$389,566
74$1,103,373$0$0$361,229
75$1,136,123$0$0$335,587
76$1,169,700$0$0$345,403
77$1,204,108$0$0$355,451
78$1,239,352$0$0$365,730
79$1,275,433$0$0$376,239
80$1,312,348$0$0$386,977
81$1,350,093$0$0$397,939
82$1,388,660$0$0$409,121
83$1,428,039$0$0$420,518
84$1,468,213$0$0$432,121
85$1,509,161$0$0$443,922
86$1,550,859$0$0$455,910
87$1,593,275$0$0$468,073
88$1,636,370$0$0$480,394
89$1,680,100$0$0$492,856
90$1,724,409$0$0$505,438
91$1,769,236$0$0$518,117
92$1,814,506$0$0$530,864
93$1,860,136$0$0$543,649
94$1,906,027$0$0$556,434
95$1,952,068$0$0$569,179
96$1,998,131$0$0$581,838
97$2,044,072$0$0$594,358
98$2,089,726$0$0$606,681
99$2,134,907$0$0$618,738
100$2,179,406$0$0$630,456