Can I retire at age 58 with 599,000?

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 $599,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$49,465$49,024$48,594$48,175$47,765$47,444
2 years$24,488$24,031$23,590$23,161$22,745$22,422
3 years$16,163$15,705$15,264$14,839$14,431$14,114
4 years$12,001$11,545$11,108$10,691$10,292$9,985
5 years$9,505$9,051$8,620$8,212$7,824$7,528
6 years$7,841$7,391$6,967$6,567$6,191$5,906
7 years$6,654$6,207$5,789$5,399$5,035$4,761
8 years$5,763$5,320$4,910$4,529$4,177$3,914
9 years$5,071$4,632$4,229$3,858$3,517$3,266
10 years$4,517$4,083$3,687$3,325$2,997$2,756
11 years$4,065$3,635$3,246$2,894$2,578$2,348
12 years$3,688$3,263$2,881$2,539$2,234$2,014
13 years$3,369$2,949$2,574$2,241$1,948$1,739
14 years$3,097$2,680$2,312$1,989$1,707$1,508
15 years$2,860$2,448$2,088$1,774$1,503$1,314
16 years$2,654$2,246$1,893$1,589$1,329$1,149
17 years$2,472$2,069$1,722$1,427$1,178$1,008
18 years$2,310$1,912$1,572$1,286$1,047$886
19 years$2,166$1,772$1,439$1,162$934$781
20 years$2,036$1,646$1,321$1,053$834$690
21 years$1,918$1,533$1,215$955$746$610
22 years$1,812$1,431$1,120$869$669$540
23 years$1,715$1,339$1,034$791$600$479
24 years$1,626$1,254$956$722$540$426
25 years$1,544$1,177$886$659$486$378
26 years$1,469$1,106$821$603$437$337
27 years$1,400$1,041$763$552$394$300
28 years$1,335$981$709$505$356$267
29 years$1,275$926$660$463$321$238
30 years$1,219$874$615$425$290$212
31 years$1,167$826$573$391$263$190
32 years$1,118$782$535$359$237$169
33 years$1,073$740$499$330$215$151
34 years$1,030$702$466$304$195$135
35 years$989$666$436$280$176$121
36 years$951$632$408$257$160$108
37 years$915$600$382$237$145$97
38 years$881$570$358$219$131$86
39 years$849$542$335$202$119$77
40 years$819$516$314$186$108$69
41 years$790$491$294$172$98$62
42 years$763$468$276$158$89$55
43 years$737$446$259$146$81$50
44 years$712$425$243$135$73$44
45 years$688$405$228$125$66$40
46 years$665$386$215$115$60$36
47 years$644$369$202$106$55$32
48 years$623$352$189$98$50$29
49 years$604$336$178$91$45$26
50 years$585$321$167$84$41$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $599,000, adding $4,996 every year, while hoping to spend $49,076 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: 64/9/27 Blend
57$599,000$599,000$599,000$599,000
58$665,251$633,504$624,220$702,777
59$680,891$612,330$592,915$707,590
60$696,480$588,472$558,916$706,975
61$711,963$561,750$522,082$705,227
62$727,275$531,967$482,264$702,241
63$742,344$498,921$439,306$697,904
64$757,088$462,392$393,048$692,092
65$771,415$422,154$343,319$684,673
66$785,222$377,962$289,943$675,500
67$798,394$329,561$232,735$664,418
68$810,801$276,681$171,503$651,255
69$822,300$219,035$106,045$635,828
70$832,728$156,322$36,151$617,935
71$841,907$88,222$0$597,359
72$849,635$14,398$0$584,936
73$855,690$0$0$581,170
74$859,823$0$0$581,911
75$861,759$0$0$582,505
76$861,191$0$0$581,308
77$857,778$0$0$578,079
78$851,143$0$0$572,552
79$840,865$0$0$564,430
80$826,481$0$0$553,384
81$807,475$0$0$539,049
82$783,276$0$0$521,023
83$753,252$0$0$498,859
84$716,703$0$0$472,061
85$672,855$0$0$440,083
86$620,850$0$0$402,319
87$559,741$0$0$358,100
88$488,479$0$0$306,685
89$405,904$0$0$247,256
90$310,737$0$0$178,907
91$201,561$0$0$100,639
92$76,811$0$0$11,348
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0