Can I retire at age 58 with 622,000?

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 $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%16.2%
1 years$51,364$50,907$50,460$50,025$49,599$48,341
2 years$25,428$24,954$24,495$24,050$23,619$22,360
3 years$16,783$16,308$15,850$15,409$14,985$13,764
4 years$12,462$11,988$11,535$11,101$10,687$9,514
5 years$9,870$9,399$8,951$8,527$8,124$7,002
6 years$8,143$7,675$7,234$6,819$6,428$5,358
7 years$6,909$6,445$6,012$5,606$5,228$4,209
8 years$5,984$5,525$5,098$4,703$4,337$3,370
9 years$5,266$4,810$4,391$4,006$3,653$2,736
10 years$4,691$4,240$3,828$3,453$3,112$2,245
11 years$4,221$3,775$3,370$3,005$2,677$1,858
12 years$3,830$3,388$2,991$2,636$2,319$1,548
13 years$3,499$3,062$2,672$2,327$2,023$1,296
14 years$3,215$2,783$2,401$2,066$1,773$1,090
15 years$2,970$2,542$2,168$1,842$1,561$920
16 years$2,756$2,333$1,966$1,650$1,380$779
17 years$2,567$2,148$1,789$1,482$1,223$662
18 years$2,399$1,985$1,633$1,336$1,088$563
19 years$2,249$1,840$1,495$1,207$970$479
20 years$2,114$1,710$1,372$1,093$866$409
21 years$1,992$1,592$1,262$992$775$350
22 years$1,882$1,486$1,163$902$695$299
23 years$1,781$1,390$1,074$822$624$256
24 years$1,688$1,303$993$749$560$219
25 years$1,604$1,222$920$684$504$188
26 years$1,525$1,149$853$626$454$161
27 years$1,453$1,081$792$573$410$138
28 years$1,386$1,019$736$525$370$119
29 years$1,324$961$685$481$334$102
30 years$1,266$908$638$442$302$88
31 years$1,212$858$595$406$273$75
32 years$1,161$812$555$373$247$65
33 years$1,114$769$518$343$223$56
34 years$1,069$729$484$315$202$48
35 years$1,027$691$453$290$183$41
36 years$988$656$424$267$166$35
37 years$951$623$396$246$150$30
38 years$915$592$371$227$136$26
39 years$882$563$348$209$124$22
40 years$850$536$326$193$112$19
41 years$820$510$306$178$102$17
42 years$792$486$287$164$92$14
43 years$765$463$269$152$84$12
44 years$739$441$253$140$76$11
45 years$714$421$237$129$69$9
46 years$691$401$223$120$63$8
47 years$669$383$209$110$57$7
48 years$647$366$197$102$52$6
49 years$627$349$185$94$47$5
50 years$607$333$174$87$43$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $622,000, adding $5,561 every year, while hoping to spend $45,394 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: 53/36/11 Blend
57$622,000$622,000$622,000$622,000
58$691,180$658,214$648,573$725,559
59$713,382$642,168$622,002$733,519
60$736,326$623,814$593,018$736,809
61$760,042$602,991$561,495$739,331
62$784,558$579,529$527,296$741,024
63$809,905$553,248$490,283$741,821
64$836,114$523,957$450,307$741,653
65$863,221$491,453$407,215$740,445
66$891,260$455,525$360,847$738,120
67$920,268$415,946$311,035$734,596
68$950,286$372,477$257,605$729,785
69$981,354$324,867$200,374$723,597
70$1,013,516$272,850$139,150$715,934
71$1,046,819$216,144$73,736$706,695
72$1,081,311$154,452$3,923$695,773
73$1,117,045$87,460$0$683,055
74$1,154,075$14,837$0$676,706
75$1,192,459$0$0$669,348
76$1,232,260$0$0$685,677
77$1,273,543$0$0$708,717
78$1,316,377$0$0$732,629
79$1,360,838$0$0$757,456
80$1,407,005$0$0$783,244
81$1,454,964$0$0$810,040
82$1,504,803$0$0$837,898
83$1,556,622$0$0$866,871
84$1,610,523$0$0$897,021
85$1,666,619$0$0$928,410
86$1,725,029$0$0$961,108
87$1,785,882$0$0$995,188
88$1,849,317$0$0$1,030,729
89$1,915,481$0$0$1,067,818
90$1,984,537$0$0$1,106,546
91$2,056,658$0$0$1,147,014
92$2,132,030$0$0$1,189,328
93$2,210,856$0$0$1,233,606
94$2,293,356$0$0$1,279,975
95$2,379,765$0$0$1,328,569
96$2,470,342$0$0$1,379,539
97$2,565,365$0$0$1,433,044
98$2,665,135$0$0$1,489,260
99$2,769,983$0$0$1,548,376
100$2,880,265$0$0$1,610,599