Can I retire at age 58 with 608,000?

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 $608,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$50,208$49,761$49,325$48,899$48,483$46,950
2 years$24,855$24,393$23,944$23,509$23,087$21,556
3 years$16,406$15,941$15,493$15,062$14,647$13,167
4 years$12,182$11,718$11,275$10,852$10,447$9,028
5 years$9,648$9,187$8,750$8,335$7,941$6,588
6 years$7,959$7,502$7,071$6,666$6,284$4,998
7 years$6,754$6,300$5,876$5,480$5,110$3,891
8 years$5,850$5,400$4,984$4,597$4,240$3,086
9 years$5,147$4,702$4,292$3,916$3,570$2,481
10 years$4,585$4,145$3,742$3,375$3,042$2,016
11 years$4,126$3,690$3,295$2,938$2,616$1,651
12 years$3,743$3,312$2,924$2,577$2,267$1,361
13 years$3,420$2,993$2,612$2,275$1,977$1,128
14 years$3,143$2,720$2,347$2,019$1,733$938
15 years$2,903$2,485$2,119$1,801$1,526$783
16 years$2,694$2,280$1,921$1,613$1,349$655
17 years$2,509$2,100$1,748$1,449$1,196$550
18 years$2,345$1,940$1,596$1,306$1,063$462
19 years$2,198$1,798$1,461$1,180$948$389
20 years$2,066$1,671$1,341$1,069$846$328
21 years$1,947$1,557$1,233$970$758$277
22 years$1,839$1,453$1,137$882$679$234
23 years$1,741$1,359$1,050$803$610$198
24 years$1,650$1,273$971$732$548$167
25 years$1,568$1,195$899$669$493$141
26 years$1,491$1,123$834$612$444$120
27 years$1,421$1,057$774$560$400$101
28 years$1,355$996$720$513$361$86
29 years$1,294$939$670$470$326$73
30 years$1,238$887$624$432$295$62
31 years$1,185$839$582$396$266$52
32 years$1,135$794$543$364$241$44
33 years$1,089$752$507$335$218$38
34 years$1,045$712$473$308$198$32
35 years$1,004$676$443$284$179$27
36 years$966$641$414$261$162$23
37 years$929$609$388$241$147$20
38 years$895$579$363$222$133$17
39 years$862$550$340$205$121$14
40 years$831$524$319$189$110$12
41 years$802$498$299$174$99$10
42 years$774$475$280$161$90$9
43 years$748$452$263$148$82$7
44 years$722$431$247$137$74$6
45 years$698$411$232$127$67$5
46 years$675$392$218$117$61$4
47 years$654$374$205$108$56$4
48 years$633$357$192$100$50$3
49 years$613$341$181$92$46$3
50 years$594$326$170$85$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $608,000, adding $6,313 every year, while hoping to spend $38,880 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: 71/19/10 Blend
57$608,000$608,000$608,000$608,000
58$676,528$644,304$634,880$722,806
59$704,166$634,507$614,780$744,474
60$733,319$622,926$592,704$762,806
61$764,103$609,435$568,545$781,820
62$796,640$593,895$542,189$801,574
63$831,065$576,164$513,521$822,134
64$867,526$556,089$482,417$843,572
65$906,185$533,509$448,749$865,969
66$947,218$508,252$412,383$889,415
67$990,817$480,139$373,181$914,010
68$1,037,193$448,979$330,995$939,867
69$1,086,576$414,568$285,673$967,110
70$1,139,220$376,695$237,056$995,878
71$1,195,400$335,133$184,978$1,026,324
72$1,255,421$289,644$129,264$1,058,622
73$1,319,613$239,976$69,733$1,092,961
74$1,388,341$185,863$6,197$1,129,555
75$1,462,004$127,022$0$1,168,639
76$1,541,041$63,159$0$1,217,049
77$1,625,932$0$0$1,269,637
78$1,717,204$0$0$1,327,349
79$1,815,437$0$0$1,403,698
80$1,921,267$0$0$1,485,974
81$2,035,392$0$0$1,574,724
82$2,158,580$0$0$1,670,547
83$2,291,673$0$0$1,774,104
84$2,435,599$0$0$1,886,117
85$2,591,376$0$0$2,007,385
86$2,760,124$0$0$2,138,781
87$2,943,073$0$0$2,281,269
88$3,141,578$0$0$2,435,908
89$3,357,127$0$0$2,603,861
90$3,591,358$0$0$2,786,409
91$3,846,072$0$0$2,984,961
92$4,123,252$0$0$3,201,067
93$4,425,078$0$0$3,436,433
94$4,753,950$0$0$3,692,935
95$5,112,508$0$0$3,972,638
96$5,503,659$0$0$4,277,817
97$5,930,602$0$0$4,610,973
98$6,396,859$0$0$4,974,860
99$6,906,307$0$0$5,372,512
100$7,463,212$0$0$5,807,265