Can I retire at age 58 with 619,000?

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 $619,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$51,116$50,661$50,217$49,783$49,360$47,876
2 years$25,305$24,834$24,377$23,934$23,505$22,022
3 years$16,703$16,229$15,774$15,335$14,912$13,477
4 years$12,402$11,930$11,479$11,048$10,636$9,260
5 years$9,822$9,353$8,908$8,486$8,085$6,772
6 years$8,103$7,638$7,199$6,786$6,397$5,148
7 years$6,876$6,414$5,983$5,579$5,203$4,017
8 years$5,956$5,498$5,074$4,680$4,316$3,193
9 years$5,240$4,787$4,370$3,987$3,635$2,574
10 years$4,668$4,220$3,810$3,437$3,097$2,096
11 years$4,201$3,756$3,354$2,991$2,664$1,721
12 years$3,811$3,372$2,977$2,623$2,308$1,423
13 years$3,482$3,047$2,659$2,316$2,013$1,182
14 years$3,200$2,770$2,390$2,056$1,764$986
15 years$2,956$2,530$2,157$1,833$1,554$825
16 years$2,742$2,321$1,956$1,642$1,373$693
17 years$2,554$2,138$1,780$1,475$1,217$583
18 years$2,387$1,975$1,625$1,329$1,082$492
19 years$2,238$1,831$1,487$1,201$965$415
20 years$2,104$1,701$1,365$1,088$862$351
21 years$1,983$1,585$1,256$987$771$297
22 years$1,872$1,479$1,157$898$691$252
23 years$1,772$1,384$1,069$818$621$213
24 years$1,680$1,296$988$746$558$181
25 years$1,596$1,216$915$681$502$154
26 years$1,518$1,143$849$623$452$131
27 years$1,446$1,076$788$570$408$111
28 years$1,380$1,014$733$522$368$94
29 years$1,318$956$682$479$332$80
30 years$1,260$903$635$439$300$68
31 years$1,206$854$592$404$271$58
32 years$1,156$808$553$371$245$49
33 years$1,109$765$516$341$222$42
34 years$1,064$725$482$314$201$36
35 years$1,022$688$451$289$182$30
36 years$983$653$422$266$165$26
37 years$946$620$395$245$150$22
38 years$911$589$370$226$136$19
39 years$878$560$346$208$123$16
40 years$846$533$324$192$112$14
41 years$816$507$304$177$101$12
42 years$788$483$285$164$92$10
43 years$761$461$268$151$83$8
44 years$735$439$251$139$76$7
45 years$711$419$236$129$69$6
46 years$688$399$222$119$62$5
47 years$665$381$208$110$57$4
48 years$644$364$196$102$51$4
49 years$624$347$184$94$47$3
50 years$604$332$173$87$42$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $619,000, adding $3,665 every year, while hoping to spend $28,315 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: 46/41/13 Blend
57$619,000$619,000$619,000$619,000
58$685,918$653,111$643,517$714,792
59$725,755$654,987$634,948$737,062
60$768,706$656,005$625,143$758,023
61$815,059$656,095$614,030$780,135
62$865,131$655,179$601,536$803,517
63$919,268$653,177$587,581$828,299
64$977,853$650,002$572,084$854,626
65$1,041,306$645,563$554,961$882,660
66$1,110,087$639,764$536,120$912,583
67$1,184,705$632,502$515,469$944,595
68$1,265,718$623,667$492,910$978,918
69$1,353,740$613,145$468,341$1,015,801
70$1,449,445$600,814$441,655$1,055,520
71$1,553,578$586,543$412,740$1,098,379
72$1,666,956$570,197$381,479$1,144,720
73$1,790,478$551,629$347,751$1,194,920
74$1,925,134$530,686$311,428$1,249,397
75$2,072,014$507,205$272,378$1,308,616
76$2,232,317$481,016$230,460$1,373,092
77$2,407,363$451,936$185,530$1,443,397
78$2,598,605$419,772$137,436$1,520,165
79$2,807,643$384,321$86,021$1,604,098
80$3,036,238$345,368$31,118$1,695,974
81$3,286,330$302,687$0$1,796,656
82$3,560,054$256,037$0$1,910,909
83$3,859,761$205,164$0$2,040,834
84$4,188,040$149,801$0$2,183,309
85$4,547,744$89,664$0$2,339,655
86$4,942,011$24,455$0$2,511,338
87$5,374,301$0$0$2,699,974
88$5,848,424$0$0$2,928,167
89$6,368,574$0$0$3,190,691
90$6,939,373$0$0$3,478,854
91$7,565,911$0$0$3,795,235
92$8,253,796$0$0$4,142,676
93$9,009,205$0$0$4,524,305
94$9,838,941$0$0$4,943,572
95$10,750,501$0$0$5,404,274
96$11,752,141$0$0$5,910,596
97$12,852,958$0$0$6,467,149
98$14,062,975$0$0$7,079,010
99$15,393,233$0$0$7,751,776
100$16,855,896$0$0$8,491,611