Can I retire at age 58 with 622,000?

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 $622,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$51,364$50,907$50,460$50,025$49,599$48,420
2 years$25,428$24,954$24,495$24,050$23,619$22,437
3 years$16,783$16,308$15,850$15,409$14,985$13,838
4 years$12,462$11,988$11,535$11,101$10,687$9,585
5 years$9,870$9,399$8,951$8,527$8,124$7,069
6 years$8,143$7,675$7,234$6,819$6,428$5,421
7 years$6,909$6,445$6,012$5,606$5,228$4,268
8 years$5,984$5,525$5,098$4,703$4,337$3,425
9 years$5,266$4,810$4,391$4,006$3,653$2,788
10 years$4,691$4,240$3,828$3,453$3,112$2,293
11 years$4,221$3,775$3,370$3,005$2,677$1,903
12 years$3,830$3,388$2,991$2,636$2,319$1,589
13 years$3,499$3,062$2,672$2,327$2,023$1,334
14 years$3,215$2,783$2,401$2,066$1,773$1,126
15 years$2,970$2,542$2,168$1,842$1,561$953
16 years$2,756$2,333$1,966$1,650$1,380$809
17 years$2,567$2,148$1,789$1,482$1,223$689
18 years$2,399$1,985$1,633$1,336$1,088$588
19 years$2,249$1,840$1,495$1,207$970$502
20 years$2,114$1,710$1,372$1,093$866$430
21 years$1,992$1,592$1,262$992$775$368
22 years$1,882$1,486$1,163$902$695$316
23 years$1,781$1,390$1,074$822$624$271
24 years$1,688$1,303$993$749$560$233
25 years$1,604$1,222$920$684$504$201
26 years$1,525$1,149$853$626$454$173
27 years$1,453$1,081$792$573$410$149
28 years$1,386$1,019$736$525$370$128
29 years$1,324$961$685$481$334$110
30 years$1,266$908$638$442$302$95
31 years$1,212$858$595$406$273$82
32 years$1,161$812$555$373$247$71
33 years$1,114$769$518$343$223$61
34 years$1,069$729$484$315$202$53
35 years$1,027$691$453$290$183$45
36 years$988$656$424$267$166$39
37 years$951$623$396$246$150$34
38 years$915$592$371$227$136$29
39 years$882$563$348$209$124$25
40 years$850$536$326$193$112$22
41 years$820$510$306$178$102$19
42 years$792$486$287$164$92$16
43 years$765$463$269$152$84$14
44 years$739$441$253$140$76$12
45 years$714$421$237$129$69$10
46 years$691$401$223$120$63$9
47 years$669$383$209$110$57$8
48 years$647$366$197$102$52$7
49 years$627$349$185$94$47$6
50 years$607$333$174$87$43$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $622,000, adding $6,835 every year, while hoping to spend $37,142 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: 36/46/18 Blend
57$622,000$622,000$622,000$622,000
58$692,494$659,528$649,887$713,413
59$723,610$652,326$632,140$722,021
60$756,654$643,527$612,553$727,322
61$791,786$633,012$591,026$732,264
62$829,175$620,657$567,453$736,837
63$869,013$606,331$541,724$741,032
64$911,505$589,894$513,724$744,840
65$956,877$571,197$483,332$748,260
66$1,005,377$550,085$450,423$751,289
67$1,057,278$526,392$414,865$753,933
68$1,112,878$499,942$376,520$756,198
69$1,172,503$470,551$335,245$758,099
70$1,236,512$438,022$290,890$759,656
71$1,305,300$402,148$243,298$760,895
72$1,379,297$362,710$192,305$761,853
73$1,458,979$319,477$137,741$762,574
74$1,544,868$272,203$79,428$763,113
75$1,637,534$220,631$17,179$763,540
76$1,737,608$164,487$0$763,934
77$1,845,780$103,484$0$773,854
78$1,962,811$37,315$0$788,091
79$2,089,534$0$0$803,517
80$2,226,868$0$0$837,716
81$2,375,823$0$0$895,369
82$2,537,509$0$0$958,027
83$2,713,146$0$0$1,026,173
84$2,904,078$0$0$1,100,339
85$3,111,781$0$0$1,181,108
86$3,337,882$0$0$1,269,125
87$3,584,170$0$0$1,365,097
88$3,852,612$0$0$1,469,804
89$4,145,376$0$0$1,584,103
90$4,464,845$0$0$1,708,938
91$4,813,643$0$0$1,845,350
92$5,194,661$0$0$1,994,481
93$5,611,079$0$0$2,157,593
94$6,066,398$0$0$2,336,071
95$6,564,474$0$0$2,531,444
96$7,109,551$0$0$2,745,394
97$7,706,305$0$0$2,979,772
98$8,359,882$0$0$3,236,619
99$9,075,952$0$0$3,518,180
100$9,860,756$0$0$3,826,931