Can I retire at age 58 with 618,000?

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 $618,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$51,034$50,579$50,136$49,703$49,280$47,437
2 years$25,264$24,794$24,338$23,896$23,467$21,631
3 years$16,676$16,203$15,748$15,310$14,888$13,118
4 years$12,382$11,911$11,461$11,030$10,618$8,927
5 years$9,807$9,338$8,894$8,472$8,072$6,463
6 years$8,090$7,625$7,188$6,775$6,387$4,862
7 years$6,865$6,404$5,973$5,570$5,194$3,753
8 years$5,946$5,489$5,066$4,673$4,309$2,950
9 years$5,232$4,779$4,363$3,980$3,629$2,350
10 years$4,661$4,213$3,804$3,431$3,092$1,892
11 years$4,194$3,750$3,349$2,986$2,659$1,534
12 years$3,805$3,366$2,972$2,619$2,305$1,252
13 years$3,476$3,042$2,655$2,312$2,010$1,027
14 years$3,195$2,765$2,386$2,053$1,762$845
15 years$2,951$2,526$2,154$1,831$1,551$698
16 years$2,738$2,318$1,953$1,639$1,371$578
17 years$2,550$2,134$1,777$1,473$1,215$480
18 years$2,383$1,972$1,622$1,327$1,081$399
19 years$2,234$1,828$1,485$1,199$963$332
20 years$2,100$1,699$1,363$1,086$860$277
21 years$1,979$1,582$1,254$986$770$231
22 years$1,869$1,477$1,155$896$690$193
23 years$1,769$1,381$1,067$816$620$161
24 years$1,678$1,294$987$744$557$134
25 years$1,593$1,215$914$680$501$112
26 years$1,516$1,141$848$622$451$94
27 years$1,444$1,074$787$569$407$79
28 years$1,377$1,012$732$521$367$66
29 years$1,316$955$681$478$332$55
30 years$1,258$902$634$439$300$46
31 years$1,204$853$591$403$271$39
32 years$1,154$807$552$370$245$32
33 years$1,107$764$515$341$222$27
34 years$1,062$724$481$313$201$23
35 years$1,021$687$450$288$182$19
36 years$982$652$421$266$165$16
37 years$944$619$394$245$149$13
38 years$909$588$369$226$135$11
39 years$876$559$346$208$123$9
40 years$845$532$324$192$111$8
41 years$815$507$304$177$101$7
42 years$787$483$285$163$92$6
43 years$760$460$267$151$83$5
44 years$734$438$251$139$76$4
45 years$710$418$236$129$69$3
46 years$687$399$221$119$62$3
47 years$664$380$208$110$57$2
48 years$643$363$195$101$51$2
49 years$623$347$184$94$47$2
50 years$603$331$173$87$42$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $618,000, adding $4,170 every year, while hoping to spend $38,550 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: 45/47/8 Blend
57$618,000$618,000$618,000$618,000
58$685,337$652,583$643,004$714,458
59$714,225$643,543$623,528$725,961
60$744,767$632,768$602,107$734,115
61$777,091$620,132$578,636$742,070
62$811,338$605,502$553,004$749,819
63$847,660$588,737$525,095$757,360
64$886,225$569,688$494,789$764,691
65$927,214$548,197$461,959$771,816
66$970,828$524,096$426,472$778,739
67$1,017,285$497,210$388,192$785,471
68$1,066,824$467,350$346,973$792,026
69$1,119,709$434,318$302,665$798,425
70$1,176,226$397,907$255,111$804,695
71$1,236,691$357,894$204,147$810,868
72$1,301,448$314,046$149,601$816,987
73$1,370,877$266,115$91,294$823,103
74$1,445,393$213,841$29,039$829,279
75$1,525,453$156,949$0$835,588
76$1,611,556$95,147$0$845,312
77$1,704,253$28,127$0$858,213
78$1,804,147$0$0$871,951
79$1,911,901$0$0$909,665
80$2,028,244$0$0$966,148
81$2,153,975$0$0$1,027,249
82$2,289,975$0$0$1,093,402
83$2,437,210$0$0$1,165,087
84$2,596,743$0$0$1,242,829
85$2,769,743$0$0$1,327,205
86$2,957,495$0$0$1,418,853
87$3,161,413$0$0$1,518,471
88$3,383,052$0$0$1,626,829
89$3,624,122$0$0$1,744,775
90$3,886,505$0$0$1,873,239
91$4,172,271$0$0$2,013,247
92$4,483,700$0$0$2,165,928
93$4,823,300$0$0$2,332,523
94$5,193,829$0$0$2,514,399
95$5,598,328$0$0$2,713,061
96$6,040,139$0$0$2,930,166
97$6,522,944$0$0$3,167,537
98$7,050,797$0$0$3,427,183
99$7,628,160$0$0$3,711,314
100$8,259,947$0$0$4,022,365