Can I retire at age 58 with 629,000?

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 $629,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$51,942$51,480$51,028$50,588$50,157$48,455
2 years$25,714$25,235$24,771$24,321$23,884$22,186
3 years$16,972$16,491$16,028$15,583$15,153$13,513
4 years$12,602$12,123$11,665$11,226$10,807$9,237
5 years$9,981$9,505$9,052$8,623$8,216$6,720
6 years$8,234$7,761$7,316$6,896$6,501$5,080
7 years$6,987$6,518$6,079$5,669$5,287$3,942
8 years$6,052$5,587$5,156$4,756$4,386$3,115
9 years$5,325$4,864$4,441$4,051$3,694$2,496
10 years$4,744$4,288$3,871$3,492$3,147$2,020
11 years$4,269$3,817$3,408$3,039$2,707$1,648
12 years$3,873$3,426$3,025$2,666$2,346$1,353
13 years$3,538$3,096$2,702$2,353$2,045$1,116
14 years$3,252$2,814$2,428$2,089$1,793$925
15 years$3,004$2,571$2,192$1,863$1,579$769
16 years$2,787$2,359$1,988$1,668$1,395$641
17 years$2,596$2,172$1,809$1,499$1,237$535
18 years$2,426$2,007$1,651$1,351$1,100$448
19 years$2,274$1,860$1,511$1,221$980$375
20 years$2,138$1,729$1,387$1,105$876$315
21 years$2,015$1,610$1,276$1,003$784$265
22 years$1,903$1,503$1,176$912$702$222
23 years$1,801$1,406$1,086$831$631$187
24 years$1,707$1,317$1,004$758$567$158
25 years$1,622$1,236$930$692$510$133
26 years$1,543$1,162$863$633$459$112
27 years$1,470$1,093$801$579$414$94
28 years$1,402$1,030$745$531$374$79
29 years$1,339$972$693$487$337$67
30 years$1,280$918$645$447$305$57
31 years$1,226$868$602$410$276$48
32 years$1,174$821$561$377$249$40
33 years$1,126$778$524$347$226$34
34 years$1,081$737$490$319$204$29
35 years$1,039$699$458$294$185$24
36 years$999$663$428$270$168$20
37 years$961$630$401$249$152$17
38 years$926$599$375$230$138$15
39 years$892$569$352$212$125$12
40 years$860$542$330$195$113$10
41 years$830$516$309$180$103$9
42 years$801$491$290$166$93$7
43 years$773$468$272$153$85$6
44 years$747$446$255$142$77$5
45 years$722$425$240$131$70$4
46 years$699$406$225$121$63$4
47 years$676$387$212$112$58$3
48 years$655$370$199$103$52$3
49 years$634$353$187$95$47$2
50 years$614$337$176$88$43$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $629,000, adding $2,393 every year, while hoping to spend $48,132 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: 60/24/16 Blend
57$629,000$629,000$629,000$629,000
58$695,626$662,289$652,540$734,397
59$715,368$643,529$623,188$742,078
60$735,510$622,237$591,239$744,879
61$756,043$598,238$556,557$746,808
62$776,954$571,346$518,996$747,787
63$798,227$541,365$478,406$747,732
64$819,844$508,090$434,630$746,552
65$841,782$471,300$387,504$744,150
66$864,014$430,764$336,856$740,422
67$886,510$386,238$282,507$735,256
68$909,233$337,463$224,270$728,532
69$932,141$284,165$161,950$720,123
70$955,186$226,056$95,341$709,888
71$978,313$162,830$24,233$697,681
72$1,001,458$94,166$0$683,342
73$1,024,549$19,723$0$675,516
74$1,047,506$0$0$670,191
75$1,070,235$0$0$679,141
76$1,092,633$0$0$693,053
77$1,114,583$0$0$706,640
78$1,135,952$0$0$719,814
79$1,156,593$0$0$732,477
80$1,176,339$0$0$744,517
81$1,195,006$0$0$755,811
82$1,212,385$0$0$766,220
83$1,228,244$0$0$775,591
84$1,242,326$0$0$783,751
85$1,254,341$0$0$790,509
86$1,263,968$0$0$795,650
87$1,270,850$0$0$798,938
88$1,274,590$0$0$800,108
89$1,274,746$0$0$798,868
90$1,270,827$0$0$794,891
91$1,262,290$0$0$787,817
92$1,248,530$0$0$777,244
93$1,228,877$0$0$762,729
94$1,202,589$0$0$743,778
95$1,168,843$0$0$719,847
96$1,126,728$0$0$690,331
97$1,075,235$0$0$654,562
98$1,013,247$0$0$611,800
99$939,530$0$0$561,226
100$852,716$0$0$501,935