Can I retire at age 58 with 600,000?

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 $600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$49,547$49,106$48,676$48,255$47,845$46,917
2 years$24,528$24,072$23,629$23,200$22,783$21,852
3 years$16,190$15,731$15,289$14,864$14,455$13,550
4 years$12,021$11,564$11,127$10,709$10,309$9,437
5 years$9,521$9,066$8,635$8,225$7,837$7,000
6 years$7,855$7,403$6,978$6,578$6,201$5,400
7 years$6,665$6,217$5,799$5,408$5,043$4,279
8 years$5,773$5,329$4,918$4,537$4,184$3,456
9 years$5,079$4,640$4,236$3,864$3,523$2,831
10 years$4,525$4,090$3,693$3,331$3,002$2,345
11 years$4,072$3,641$3,251$2,899$2,582$1,959
12 years$3,694$3,268$2,885$2,543$2,237$1,648
13 years$3,375$2,953$2,578$2,245$1,951$1,394
14 years$3,102$2,685$2,316$1,993$1,710$1,185
15 years$2,865$2,452$2,091$1,777$1,506$1,011
16 years$2,658$2,250$1,896$1,591$1,331$865
17 years$2,476$2,072$1,725$1,430$1,180$742
18 years$2,314$1,915$1,575$1,289$1,049$638
19 years$2,169$1,775$1,442$1,164$935$550
20 years$2,039$1,649$1,323$1,054$835$475
21 years$1,922$1,536$1,217$957$748$410
22 years$1,815$1,434$1,122$870$670$355
23 years$1,718$1,341$1,036$792$601$307
24 years$1,629$1,256$958$723$541$266
25 years$1,547$1,179$887$660$486$231
26 years$1,472$1,108$823$604$438$201
27 years$1,402$1,043$764$552$395$174
28 years$1,337$983$710$506$356$151
29 years$1,277$927$661$464$322$132
30 years$1,221$876$616$426$291$115
31 years$1,169$828$574$391$263$100
32 years$1,120$783$536$360$238$87
33 years$1,075$742$500$331$215$75
34 years$1,032$703$467$304$195$66
35 years$991$667$437$280$177$57
36 years$953$633$409$258$160$50
37 years$917$601$382$238$145$43
38 years$883$571$358$219$131$38
39 years$851$543$336$202$119$33
40 years$820$517$315$186$108$29
41 years$791$492$295$172$98$25
42 years$764$468$277$159$89$22
43 years$738$446$260$146$81$19
44 years$713$425$244$135$73$17
45 years$689$406$229$125$67$14
46 years$667$387$215$115$60$13
47 years$645$369$202$107$55$11
48 years$624$353$190$98$50$10
49 years$605$337$178$91$45$8
50 years$586$322$168$84$41$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $600,000, adding $6,094 every year, while hoping to spend $40,215 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: 57/38/5 Blend
57$600,000$600,000$600,000$600,000
58$667,486$635,686$626,386$704,547
59$692,781$624,046$604,581$718,519
60$719,308$610,488$580,699$728,649
61$747,151$594,875$554,625$738,676
62$776,400$577,064$526,245$748,594
63$807,153$556,900$495,434$758,397
64$839,517$534,222$462,065$768,082
65$873,608$508,859$426,005$777,646
66$909,553$480,630$387,113$787,089
67$947,489$449,343$345,243$796,415
68$987,568$414,796$300,244$805,629
69$1,029,953$376,774$251,955$814,740
70$1,074,823$335,051$200,210$823,764
71$1,122,374$289,387$144,836$832,717
72$1,172,820$239,531$85,652$841,626
73$1,226,394$185,215$22,468$850,519
74$1,283,352$126,156$0$859,436
75$1,343,973$62,057$0$870,821
76$1,408,565$0$0$883,767
77$1,477,460$0$0$900,245
78$1,551,028$0$0$945,580
79$1,629,670$0$0$994,074
80$1,713,827$0$0$1,046,005
81$1,803,983$0$0$1,101,674
82$1,900,668$0$0$1,161,414
83$2,004,464$0$0$1,225,590
84$2,116,011$0$0$1,294,602
85$2,236,009$0$0$1,368,889
86$2,365,227$0$0$1,448,934
87$2,504,512$0$0$1,535,266
88$2,654,792$0$0$1,628,469
89$2,817,087$0$0$1,729,181
90$2,992,519$0$0$1,838,106
91$3,182,320$0$0$1,956,016
92$3,387,844$0$0$2,083,762
93$3,610,581$0$0$2,222,277
94$3,852,168$0$0$2,372,589
95$4,114,406$0$0$2,535,827
96$4,399,276$0$0$2,713,235
97$4,708,957$0$0$2,906,179
98$5,045,845$0$0$3,116,163
99$5,412,577$0$0$3,344,842
100$5,812,057$0$0$3,594,038