Can I retire at age 57 with 588,000?

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 $588,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$48,556$48,124$47,702$47,290$46,888$45,081
2 years$24,038$23,590$23,156$22,736$22,328$20,529
3 years$15,866$15,416$14,984$14,567$14,166$12,431
4 years$11,781$11,333$10,904$10,495$10,103$8,447
5 years$9,331$8,885$8,462$8,061$7,680$6,106
6 years$7,697$7,255$6,839$6,446$6,077$4,586
7 years$6,531$6,093$5,683$5,300$4,942$3,534
8 years$5,657$5,223$4,820$4,446$4,100$2,773
9 years$4,978$4,547$4,151$3,787$3,453$2,205
10 years$4,434$4,008$3,619$3,264$2,942$1,771
11 years$3,990$3,568$3,186$2,841$2,530$1,434
12 years$3,620$3,203$2,828$2,492$2,193$1,168
13 years$3,308$2,894$2,526$2,200$1,912$956
14 years$3,040$2,631$2,270$1,953$1,676$785
15 years$2,808$2,403$2,049$1,742$1,476$647
16 years$2,605$2,205$1,858$1,559$1,304$535
17 years$2,426$2,031$1,691$1,401$1,156$443
18 years$2,268$1,877$1,543$1,263$1,028$367
19 years$2,126$1,739$1,413$1,141$917$305
20 years$1,998$1,616$1,297$1,033$819$253
21 years$1,883$1,505$1,193$938$733$211
22 years$1,779$1,405$1,099$853$657$176
23 years$1,683$1,314$1,015$777$589$146
24 years$1,596$1,231$939$708$530$122
25 years$1,516$1,156$869$647$477$102
26 years$1,442$1,086$806$591$429$85
27 years$1,374$1,022$749$541$387$71
28 years$1,311$963$696$496$349$59
29 years$1,252$909$648$455$315$49
30 years$1,197$858$603$417$285$41
31 years$1,146$811$563$383$258$35
32 years$1,098$768$525$352$233$29
33 years$1,053$727$490$324$211$24
34 years$1,011$689$458$298$191$20
35 years$971$653$428$274$173$17
36 years$934$620$400$253$157$14
37 years$899$589$375$233$142$12
38 years$865$560$351$215$129$10
39 years$834$532$329$198$117$8
40 years$804$506$308$183$106$7
41 years$776$482$289$168$96$6
42 years$749$459$271$155$87$5
43 years$723$437$254$143$79$4
44 years$699$417$239$132$72$3
45 years$675$398$224$122$65$3
46 years$653$379$211$113$59$2
47 years$632$362$198$104$54$2
48 years$612$346$186$96$49$2
49 years$593$330$175$89$44$1
50 years$574$315$164$82$40$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $588,000, adding $3,600 every year, while hoping to spend $42,739 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: 65/12/23 Blend
56$588,000$588,000$588,000$588,000
57$651,689$620,525$611,411$689,956
58$672,688$605,457$586,420$701,089
59$694,396$588,218$559,158$708,102
60$716,840$568,657$529,506$714,786
61$740,050$546,613$497,337$721,111
62$764,054$521,917$462,517$727,046
63$788,886$494,389$424,910$732,558
64$814,578$463,840$384,370$737,613
65$841,165$430,068$340,746$742,174
66$868,684$392,862$293,882$746,205
67$897,175$351,997$243,611$749,666
68$926,678$307,235$189,763$752,515
69$957,236$258,327$132,158$754,711
70$988,897$205,008$70,608$756,208
71$1,021,710$146,998$4,918$756,960
72$1,055,725$84,002$0$756,919
73$1,090,998$15,708$0$772,031
74$1,127,589$0$0$788,576
75$1,165,558$0$0$813,032
76$1,204,974$0$0$840,577
77$1,245,907$0$0$869,187
78$1,288,433$0$0$898,916
79$1,332,633$0$0$929,821
80$1,378,594$0$0$961,963
81$1,426,409$0$0$995,409
82$1,476,178$0$0$1,030,230
83$1,528,009$0$0$1,066,500
84$1,582,015$0$0$1,104,302
85$1,638,322$0$0$1,143,725
86$1,697,063$0$0$1,184,862
87$1,758,381$0$0$1,227,816
88$1,822,433$0$0$1,272,698
89$1,889,387$0$0$1,319,626
90$1,959,423$0$0$1,368,730
91$2,032,738$0$0$1,420,149
92$2,109,546$0$0$1,474,036
93$2,190,076$0$0$1,530,553
94$2,274,579$0$0$1,589,879
95$2,363,326$0$0$1,652,207
96$2,456,612$0$0$1,717,748
97$2,554,760$0$0$1,786,731
98$2,658,116$0$0$1,859,403
99$2,767,063$0$0$1,936,036
100$2,882,013$0$0$2,016,925