Can I retire at age 58 with 623,000?

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 $623,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$51,447$50,988$50,541$50,105$49,679$48,321
2 years$25,469$24,994$24,535$24,089$23,657$22,299
3 years$16,810$16,334$15,876$15,434$15,009$13,693
4 years$12,482$12,007$11,553$11,119$10,704$9,441
5 years$9,886$9,414$8,966$8,541$8,137$6,930
6 years$8,156$7,687$7,246$6,830$6,439$5,288
7 years$6,920$6,456$6,021$5,615$5,236$4,143
8 years$5,994$5,534$5,106$4,711$4,344$3,307
9 years$5,274$4,818$4,398$4,012$3,658$2,677
10 years$4,698$4,247$3,834$3,459$3,117$2,190
11 years$4,228$3,781$3,376$3,010$2,681$1,806
12 years$3,836$3,393$2,996$2,640$2,323$1,500
13 years$3,504$3,067$2,677$2,331$2,026$1,252
14 years$3,221$2,787$2,405$2,069$1,776$1,049
15 years$2,975$2,546$2,171$1,845$1,564$883
16 years$2,760$2,336$1,969$1,652$1,382$745
17 years$2,571$2,152$1,791$1,485$1,225$630
18 years$2,403$1,988$1,635$1,338$1,089$534
19 years$2,252$1,843$1,497$1,209$971$453
20 years$2,117$1,712$1,374$1,095$867$385
21 years$1,995$1,595$1,264$994$776$328
22 years$1,885$1,489$1,165$903$696$279
23 years$1,784$1,392$1,075$823$625$238
24 years$1,691$1,305$995$750$561$203
25 years$1,606$1,224$921$685$505$174
26 years$1,528$1,151$854$627$455$148
27 years$1,456$1,083$793$574$410$127
28 years$1,389$1,020$738$526$370$108
29 years$1,326$963$686$482$334$93
30 years$1,268$909$639$442$302$79
31 years$1,214$859$596$406$273$68
32 years$1,163$813$556$373$247$58
33 years$1,116$770$519$343$224$50
34 years$1,071$730$485$316$202$43
35 years$1,029$692$454$291$183$36
36 years$989$657$424$268$166$31
37 years$952$624$397$247$151$27
38 years$917$593$372$227$136$23
39 years$883$564$348$210$124$20
40 years$852$537$327$193$112$17
41 years$822$511$306$178$102$14
42 years$793$486$287$165$92$12
43 years$766$463$270$152$84$11
44 years$740$442$253$140$76$9
45 years$716$421$238$130$69$8
46 years$692$402$223$120$63$7
47 years$670$384$210$111$57$6
48 years$648$366$197$102$52$5
49 years$628$350$185$94$47$4
50 years$608$334$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 $623,000, adding $4,884 every year, while hoping to spend $32,023 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: 59/32/9 Blend
57$623,000$623,000$623,000$623,000
58$691,584$658,565$648,908$730,682
59$728,053$656,762$636,575$755,726
60$767,169$653,798$622,754$778,963
61$809,168$649,582$607,364$803,510
62$854,308$644,017$590,316$829,495
63$902,875$637,001$571,519$857,062
64$955,181$628,427$550,878$886,368
65$1,011,569$618,179$528,291$917,588
66$1,072,415$606,136$503,655$950,917
67$1,138,134$592,169$476,861$986,571
68$1,209,182$576,143$447,793$1,024,790
69$1,286,057$557,913$416,333$1,065,838
70$1,369,309$537,325$382,355$1,110,012
71$1,459,544$514,220$345,729$1,157,637
72$1,557,426$488,425$306,319$1,209,076
73$1,663,685$459,759$263,983$1,264,730
74$1,779,126$428,033$218,571$1,325,044
75$1,904,633$393,042$169,929$1,390,511
76$2,041,179$354,575$117,895$1,461,677
77$2,189,834$312,404$62,300$1,539,146
78$2,351,777$266,290$2,966$1,623,587
79$2,528,302$215,983$0$1,715,742
80$2,720,838$161,215$0$1,822,227
81$2,930,953$101,705$0$1,938,834
82$3,160,377$37,155$0$2,066,303
83$3,411,012$0$0$2,205,765
84$3,684,952$0$0$2,370,002
85$3,984,504$0$0$2,563,949
86$4,312,206$0$0$2,776,173
87$4,670,855$0$0$3,008,492
88$5,063,527$0$0$3,262,905
89$5,493,614$0$0$3,541,616
90$5,964,849$0$0$3,847,051
91$6,481,342$0$0$4,181,883
92$7,047,622$0$0$4,549,054
93$7,668,676$0$0$4,951,806
94$8,349,997$0$0$5,393,710
95$9,097,634$0$0$5,878,697
96$9,918,253$0$0$6,411,100
97$10,819,193$0$0$6,995,691
98$11,808,542$0$0$7,637,725
99$12,895,207$0$0$8,342,994
100$14,089,000$0$0$9,117,877