Can I retire at age 58 with 594,000?

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 $594,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$49,052$48,615$48,189$47,773$47,366$46,372
2 years$24,283$23,831$23,393$22,968$22,555$21,558
3 years$16,028$15,574$15,137$14,716$14,310$13,341
4 years$11,901$11,448$11,016$10,602$10,206$9,273
5 years$9,426$8,976$8,549$8,143$7,758$6,864
6 years$7,776$7,329$6,908$6,512$6,139$5,284
7 years$6,598$6,155$5,741$5,354$4,993$4,177
8 years$5,715$5,276$4,869$4,491$4,142$3,366
9 years$5,029$4,594$4,193$3,826$3,488$2,751
10 years$4,480$4,049$3,656$3,298$2,972$2,273
11 years$4,031$3,605$3,219$2,870$2,556$1,894
12 years$3,657$3,235$2,856$2,517$2,215$1,589
13 years$3,341$2,924$2,552$2,222$1,932$1,341
14 years$3,071$2,658$2,293$1,973$1,693$1,136
15 years$2,836$2,428$2,070$1,759$1,491$967
16 years$2,632$2,228$1,877$1,575$1,318$825
17 years$2,451$2,051$1,708$1,415$1,168$706
18 years$2,291$1,896$1,559$1,276$1,039$605
19 years$2,148$1,757$1,427$1,153$926$520
20 years$2,019$1,633$1,310$1,044$827$447
21 years$1,902$1,521$1,205$947$740$385
22 years$1,797$1,420$1,111$861$663$332
23 years$1,701$1,328$1,025$785$595$287
24 years$1,612$1,244$948$716$535$248
25 years$1,531$1,167$878$653$482$215
26 years$1,457$1,097$815$597$434$186
27 years$1,388$1,033$756$547$391$161
28 years$1,324$973$703$501$353$139
29 years$1,264$918$654$460$319$121
30 years$1,209$867$610$422$288$105
31 years$1,157$819$568$387$260$91
32 years$1,109$775$530$356$235$79
33 years$1,064$734$495$327$213$68
34 years$1,021$696$463$301$193$59
35 years$981$660$432$277$175$51
36 years$943$626$405$255$158$45
37 years$908$595$379$235$144$39
38 years$874$565$355$217$130$34
39 years$842$538$332$200$118$29
40 years$812$512$311$184$107$25
41 years$783$487$292$170$97$22
42 years$756$464$274$157$88$19
43 years$730$442$257$145$80$17
44 years$706$421$241$134$73$14
45 years$682$402$227$124$66$13
46 years$660$383$213$114$60$11
47 years$639$366$200$105$54$9
48 years$618$349$188$97$49$8
49 years$599$333$177$90$45$7
50 years$580$318$166$83$41$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $594,000, adding $2,495 every year, while hoping to spend $28,662 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: 54/22/24 Blend
57$594,000$594,000$594,000$594,000
58$657,162$625,680$616,473$688,178
59$693,696$625,842$606,628$709,958
60$732,996$625,051$595,494$730,472
61$775,314$623,231$582,995$752,207
62$820,926$620,300$569,055$775,292
63$870,137$616,170$553,595$799,866
64$923,279$610,751$536,529$826,086
65$980,720$603,944$517,769$854,127
66$1,042,863$595,647$497,224$884,182
67$1,110,151$585,750$474,797$916,465
68$1,183,072$574,137$450,387$951,215
69$1,262,160$560,684$423,890$988,696
70$1,348,005$545,263$395,196$1,029,201
71$1,441,256$527,735$364,189$1,073,056
72$1,542,624$507,954$330,749$1,120,622
73$1,652,894$485,766$294,751$1,172,298
74$1,772,929$461,008$256,065$1,228,529
75$1,903,677$433,507$214,553$1,289,804
76$2,046,184$403,081$170,073$1,356,669
77$2,201,599$369,536$122,474$1,429,726
78$2,371,188$332,669$71,603$1,509,643
79$2,556,343$292,264$17,296$1,597,158
80$2,758,598$248,092$0$1,693,089
81$2,979,640$199,914$0$1,808,754
82$3,221,328$147,474$0$1,940,144
83$3,485,708$90,505$0$2,083,983
84$3,775,032$28,722$0$2,241,543
85$4,091,781$0$0$2,414,233
86$4,438,687$0$0$2,612,845
87$4,818,759$0$0$2,838,120
88$5,235,308$0$0$3,085,073
89$5,691,984$0$0$3,355,875
90$6,192,806$0$0$3,652,918
91$6,742,198$0$0$3,978,833
92$7,345,037$0$0$4,336,521
93$8,006,693$0$0$4,729,177
94$8,733,079$0$0$5,160,318
95$9,530,713$0$0$5,633,822
96$10,406,772$0$0$6,153,959
97$11,369,162$0$0$6,725,433
98$12,426,594$0$0$7,353,426
99$13,588,665$0$0$8,043,647
100$14,865,945$0$0$8,802,386