Can I retire at age 58 with 586,000?

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 $586,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$48,391$47,960$47,540$47,129$46,728$46,356
2 years$23,956$23,510$23,078$22,658$22,252$21,876
3 years$15,812$15,364$14,933$14,517$14,117$13,751
4 years$11,741$11,294$10,867$10,459$10,069$9,714
5 years$9,299$8,855$8,433$8,033$7,654$7,311
6 years$7,671$7,231$6,815$6,424$6,056$5,727
7 years$6,509$6,072$5,664$5,282$4,925$4,609
8 years$5,638$5,205$4,803$4,431$4,086$3,783
9 years$4,961$4,532$4,137$3,774$3,441$3,151
10 years$4,419$3,995$3,607$3,253$2,932$2,654
11 years$3,977$3,556$3,175$2,831$2,522$2,257
12 years$3,608$3,192$2,818$2,483$2,185$1,933
13 years$3,296$2,885$2,518$2,193$1,906$1,665
14 years$3,029$2,622$2,262$1,946$1,670$1,442
15 years$2,798$2,395$2,042$1,736$1,471$1,254
16 years$2,596$2,198$1,852$1,554$1,300$1,094
17 years$2,418$2,024$1,685$1,396$1,153$957
18 years$2,260$1,870$1,538$1,258$1,025$840
19 years$2,119$1,733$1,408$1,137$913$739
20 years$1,992$1,611$1,292$1,030$816$651
21 years$1,877$1,500$1,189$935$730$574
22 years$1,773$1,400$1,096$850$654$508
23 years$1,678$1,310$1,012$774$587$449
24 years$1,591$1,227$936$706$528$398
25 years$1,511$1,152$866$645$475$353
26 years$1,437$1,082$804$589$428$313
27 years$1,369$1,019$746$540$386$278
28 years$1,306$960$694$494$348$247
29 years$1,247$905$646$453$314$220
30 years$1,193$855$601$416$284$196
31 years$1,142$808$561$382$257$174
32 years$1,094$765$523$351$232$155
33 years$1,049$724$488$323$210$138
34 years$1,007$687$456$297$190$123
35 years$968$651$427$274$172$110
36 years$931$618$399$252$156$98
37 years$896$587$374$232$142$87
38 years$862$558$350$214$128$78
39 years$831$530$328$197$116$70
40 years$801$505$307$182$106$62
41 years$773$480$288$168$96$55
42 years$746$458$270$155$87$50
43 years$721$436$254$143$79$44
44 years$696$416$238$132$72$39
45 years$673$396$223$122$65$35
46 years$651$378$210$113$59$31
47 years$630$361$197$104$54$28
48 years$610$344$185$96$49$25
49 years$591$329$174$89$44$22
50 years$572$314$164$82$40$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $586,000, adding $6,161 every year, while hoping to spend $26,854 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: 68/14/18 Blend
57$586,000$586,000$586,000$586,000
58$652,127$621,069$611,986$693,213
59$690,072$622,929$603,915$723,292
60$730,986$623,980$594,674$752,461
61$775,146$624,154$584,195$783,705
62$822,853$623,379$572,407$817,226
63$874,437$621,579$559,236$853,248
64$930,265$618,671$544,605$892,018
65$990,735$614,569$528,433$933,808
66$1,056,290$609,183$510,635$978,920
67$1,127,413$602,414$491,123$1,027,684
68$1,204,637$594,161$469,804$1,080,470
69$1,288,548$584,313$446,580$1,137,681
70$1,379,791$572,755$421,352$1,199,765
71$1,479,075$559,365$394,012$1,267,215
72$1,587,179$544,013$364,450$1,340,578
73$1,704,964$526,561$332,551$1,420,455
74$1,833,373$506,865$298,194$1,507,510
75$1,973,446$484,771$261,253$1,602,476
76$2,126,329$460,116$221,597$1,706,164
77$2,293,281$432,728$179,086$1,819,466
78$2,475,689$402,425$133,579$1,943,369
79$2,675,080$369,015$84,925$2,078,960
80$2,893,136$332,294$32,967$2,227,441
81$3,131,707$292,048$0$2,390,138
82$3,392,831$248,049$0$2,572,829
83$3,678,754$200,057$0$2,779,849
84$3,991,946$147,819$0$3,006,674
85$4,335,129$91,066$0$3,255,305
86$4,711,301$29,518$0$3,527,945
87$5,123,763$0$0$3,827,024
88$5,576,152$0$0$4,160,941
89$6,072,472$0$0$4,532,309
90$6,617,134$0$0$4,939,885
91$7,214,998$0$0$5,387,311
92$7,871,416$0$0$5,878,595
93$8,592,284$0$0$6,418,157
94$9,384,097$0$0$7,010,863
95$10,254,010$0$0$7,662,073
96$11,209,905$0$0$8,377,693
97$12,260,466$0$0$9,164,231
98$13,415,260$0$0$10,028,854
99$14,684,825$0$0$10,979,460
100$16,080,775$0$0$12,024,748