Can I retire at age 58 with 628,000?

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 $628,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$51,860$51,398$50,947$50,507$50,078$49,825
2 years$25,673$25,195$24,732$24,282$23,846$23,591
3 years$16,945$16,465$16,003$15,558$15,129$14,880
4 years$12,582$12,104$11,646$11,209$10,790$10,548
5 years$9,965$9,489$9,038$8,609$8,203$7,969
6 years$8,221$7,749$7,304$6,885$6,490$6,265
7 years$6,976$6,507$6,070$5,660$5,278$5,062
8 years$6,042$5,578$5,147$4,748$4,379$4,171
9 years$5,316$4,857$4,434$4,045$3,688$3,488
10 years$4,736$4,281$3,865$3,486$3,142$2,951
11 years$4,262$3,811$3,403$3,034$2,702$2,520
12 years$3,867$3,421$3,020$2,661$2,342$2,167
13 years$3,533$3,091$2,698$2,350$2,042$1,876
14 years$3,247$2,810$2,424$2,086$1,790$1,631
15 years$2,999$2,567$2,189$1,860$1,576$1,425
16 years$2,782$2,355$1,984$1,666$1,393$1,249
17 years$2,591$2,169$1,806$1,496$1,235$1,099
18 years$2,422$2,004$1,648$1,349$1,098$969
19 years$2,271$1,857$1,509$1,219$979$856
20 years$2,134$1,726$1,385$1,104$874$758
21 years$2,011$1,608$1,274$1,002$782$673
22 years$1,900$1,501$1,174$911$701$598
23 years$1,798$1,404$1,084$829$630$532
24 years$1,705$1,315$1,003$756$566$474
25 years$1,619$1,234$929$691$509$422
26 years$1,540$1,160$861$632$459$377
27 years$1,467$1,092$800$578$414$337
28 years$1,400$1,029$743$530$373$301
29 years$1,337$970$692$486$337$269
30 years$1,278$916$644$446$304$241
31 years$1,224$866$601$409$275$216
32 years$1,173$820$561$376$249$193
33 years$1,125$776$523$346$225$173
34 years$1,080$736$489$318$204$155
35 years$1,037$698$457$293$185$139
36 years$997$662$428$270$167$125
37 years$960$629$400$249$152$112
38 years$924$598$375$229$138$101
39 years$890$569$351$211$125$90
40 years$859$541$329$195$113$81
41 years$828$515$309$180$103$73
42 years$800$490$290$166$93$65
43 years$772$467$272$153$85$59
44 years$746$445$255$141$77$53
45 years$721$425$239$131$70$47
46 years$698$405$225$121$63$43
47 years$675$387$211$112$57$38
48 years$654$369$199$103$52$34
49 years$633$352$187$95$47$31
50 years$613$337$175$88$43$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $628,000, adding $3,335 every year, while hoping to spend $42,472 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: 84/7/9 Blend
57$628,000$628,000$628,000$628,000
58$695,496$662,212$652,478$752,806
59$721,247$649,471$629,146$778,017
60$748,201$634,681$603,609$799,638
61$776,435$617,699$575,748$822,071
62$806,036$598,370$545,440$845,372
63$837,093$576,532$512,553$869,603
64$869,706$552,012$476,954$894,829
65$903,984$524,628$438,500$921,125
66$940,043$494,188$397,042$948,571
67$978,012$460,487$352,428$977,256
68$1,018,029$423,311$304,494$1,007,279
69$1,060,247$382,432$253,073$1,038,748
70$1,104,829$337,608$197,988$1,071,780
71$1,151,957$288,586$139,056$1,106,509
72$1,201,826$235,097$76,084$1,143,077
73$1,254,652$176,856$8,872$1,181,644
74$1,310,668$113,564$0$1,222,387
75$1,370,131$44,903$0$1,271,534
76$1,433,322$0$0$1,324,566
77$1,500,546$0$0$1,383,156
78$1,572,140$0$0$1,449,244
79$1,648,470$0$0$1,519,710
80$1,729,938$0$0$1,594,927
81$1,816,986$0$0$1,675,303
82$1,910,097$0$0$1,761,285
83$2,009,800$0$0$1,853,362
84$2,116,677$0$0$1,952,073
85$2,231,364$0$0$2,058,006
86$2,354,560$0$0$2,171,810
87$2,487,034$0$0$2,294,194
88$2,629,629$0$0$2,425,939
89$2,783,268$0$0$2,567,900
90$2,948,970$0$0$2,721,018
91$3,127,850$0$0$2,886,327
92$3,321,135$0$0$3,064,962
93$3,530,175$0$0$3,258,172
94$3,756,450$0$0$3,467,326
95$4,001,591$0$0$3,693,935
96$4,267,388$0$0$3,939,655
97$4,555,812$0$0$4,206,310
98$4,869,030$0$0$4,495,906
99$5,209,424$0$0$4,810,648
100$5,579,617$0$0$5,152,962