Can I retire at age 58 with 620,000?

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 $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$51,199$50,743$50,298$49,864$49,440$48,781
2 years$25,346$24,874$24,417$23,973$23,543$22,881
3 years$16,730$16,255$15,799$15,360$14,936$14,291
4 years$12,422$11,949$11,498$11,066$10,653$10,029
5 years$9,838$9,369$8,923$8,500$8,098$7,498
6 years$8,116$7,650$7,211$6,797$6,408$5,832
7 years$6,887$6,425$5,992$5,588$5,211$4,660
8 years$5,965$5,507$5,082$4,688$4,323$3,796
9 years$5,249$4,795$4,377$3,993$3,641$3,138
10 years$4,676$4,226$3,816$3,442$3,102$2,623
11 years$4,207$3,763$3,360$2,996$2,668$2,212
12 years$3,817$3,377$2,982$2,628$2,312$1,879
13 years$3,488$3,052$2,664$2,320$2,016$1,605
14 years$3,205$2,774$2,393$2,059$1,767$1,378
15 years$2,961$2,534$2,161$1,836$1,556$1,188
16 years$2,747$2,325$1,959$1,644$1,375$1,027
17 years$2,558$2,141$1,783$1,477$1,219$891
18 years$2,391$1,979$1,627$1,331$1,084$774
19 years$2,242$1,834$1,490$1,203$966$675
20 years$2,107$1,704$1,367$1,090$863$589
21 years$1,986$1,587$1,258$989$772$515
22 years$1,875$1,482$1,159$899$692$450
23 years$1,775$1,386$1,070$819$622$395
24 years$1,683$1,298$990$747$559$346
25 years$1,598$1,218$917$682$503$304
26 years$1,521$1,145$850$624$453$267
27 years$1,449$1,078$790$571$408$235
28 years$1,382$1,016$734$523$368$206
29 years$1,320$958$683$480$333$182
30 years$1,262$905$636$440$301$160
31 years$1,208$855$593$404$272$141
32 years$1,158$809$553$372$246$124
33 years$1,110$766$517$342$222$109
34 years$1,066$726$483$314$201$96
35 years$1,024$689$451$289$182$85
36 years$985$654$422$267$165$75
37 years$948$621$395$246$150$66
38 years$912$590$370$226$136$58
39 years$879$561$347$209$123$52
40 years$848$534$325$192$112$46
41 years$818$508$305$178$101$40
42 years$789$484$286$164$92$35
43 years$762$461$268$151$83$31
44 years$737$440$252$140$76$28
45 years$712$419$236$129$69$24
46 years$689$400$222$119$62$22
47 years$667$382$209$110$57$19
48 years$645$364$196$102$51$17
49 years$625$348$184$94$47$15
50 years$605$332$173$87$42$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $620,000, adding $6,357 every year, while hoping to spend $27,017 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: 48/40/12 Blend
57$620,000$620,000$620,000$620,000
58$689,797$656,937$647,327$720,332
59$731,411$660,381$640,267$745,475
60$776,363$663,089$632,064$769,438
61$824,967$664,995$622,653$794,848
62$877,565$666,030$611,963$821,848
63$934,534$666,123$599,921$850,600
64$996,288$665,196$586,451$881,281
65$1,063,285$663,165$571,472$914,086
66$1,136,024$659,944$554,901$949,235
67$1,215,058$655,441$536,649$986,969
68$1,300,992$649,556$516,625$1,027,557
69$1,394,495$642,186$494,734$1,071,295
70$1,496,300$633,220$470,874$1,118,515
71$1,607,216$622,541$444,942$1,169,580
72$1,728,132$610,025$416,827$1,224,896
73$1,860,025$595,541$386,415$1,284,912
74$2,003,975$578,949$353,586$1,350,123
75$2,161,165$560,102$318,216$1,421,080
76$2,332,901$538,844$280,174$1,498,392
77$2,520,620$515,011$239,323$1,582,733
78$2,725,904$488,427$195,521$1,674,848
79$2,950,494$458,908$148,619$1,775,563
80$3,196,310$426,260$98,463$1,885,792
81$3,465,461$390,274$44,889$2,006,544
82$3,760,275$350,734$0$2,138,939
83$4,083,311$307,409$0$2,285,784
84$4,437,392$260,054$0$2,453,111
85$4,825,622$208,413$0$2,636,699
86$5,251,423$152,214$0$2,838,246
87$5,718,565$91,169$0$3,059,623
88$6,231,197$24,974$0$3,302,898
89$6,793,892$0$0$3,570,357
90$7,411,685$0$0$3,885,071
91$8,090,126$0$0$4,242,823
92$8,835,324$0$0$4,635,852
93$9,654,012$0$0$5,067,719
94$10,553,608$0$0$5,542,345
95$11,542,282$0$0$6,064,051
96$12,629,034$0$0$6,637,596
97$13,823,783$0$0$7,268,227
98$15,137,453$0$0$7,961,720
99$16,582,083$0$0$8,724,442
100$18,170,934$0$0$9,563,406