Can I retire at age 58 with 609,000?

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 $609,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$50,291$49,843$49,406$48,979$48,563$47,738
2 years$24,896$24,433$23,983$23,548$23,125$22,297
3 years$16,433$15,967$15,519$15,087$14,671$13,866
4 years$12,202$11,737$11,294$10,869$10,464$9,687
5 years$9,664$9,202$8,764$8,349$7,954$7,208
6 years$7,972$7,514$7,083$6,677$6,294$5,579
7 years$6,765$6,311$5,886$5,489$5,119$4,435
8 years$5,859$5,409$4,992$4,605$4,247$3,594
9 years$5,156$4,710$4,299$3,922$3,576$2,955
10 years$4,593$4,151$3,748$3,381$3,047$2,457
11 years$4,133$3,696$3,300$2,942$2,621$2,060
12 years$3,750$3,317$2,929$2,581$2,271$1,740
13 years$3,426$2,998$2,617$2,279$1,980$1,478
14 years$3,148$2,725$2,351$2,023$1,736$1,261
15 years$2,908$2,489$2,123$1,804$1,528$1,080
16 years$2,698$2,284$1,924$1,615$1,351$928
17 years$2,513$2,103$1,751$1,451$1,198$800
18 years$2,349$1,944$1,599$1,308$1,065$691
19 years$2,202$1,801$1,463$1,182$949$598
20 years$2,070$1,674$1,343$1,070$848$518
21 years$1,951$1,559$1,235$971$759$450
22 years$1,842$1,455$1,139$883$680$391
23 years$1,743$1,361$1,051$804$611$340
24 years$1,653$1,275$972$734$549$296
25 years$1,570$1,197$901$670$494$258
26 years$1,494$1,125$835$613$445$225
27 years$1,423$1,059$776$561$401$197
28 years$1,357$998$721$514$362$172
29 years$1,296$941$671$471$327$150
30 years$1,240$889$625$432$295$131
31 years$1,187$840$583$397$267$115
32 years$1,137$795$544$365$241$100
33 years$1,091$753$508$336$219$88
34 years$1,047$713$474$309$198$77
35 years$1,006$677$443$284$179$67
36 years$967$642$415$262$162$59
37 years$931$610$388$241$147$52
38 years$896$580$364$222$133$45
39 years$864$551$341$205$121$39
40 years$833$525$319$189$110$35
41 years$803$499$299$174$100$30
42 years$775$476$281$161$90$27
43 years$749$453$263$149$82$23
44 years$724$432$247$137$74$20
45 years$700$412$232$127$68$18
46 years$677$393$218$117$61$16
47 years$655$375$205$108$56$14
48 years$634$358$193$100$51$12
49 years$614$342$181$92$46$11
50 years$595$326$170$85$42$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $609,000, adding $6,056 every year, while hoping to spend $24,668 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: 55/21/24 Blend
57$609,000$609,000$609,000$609,000
58$677,365$645,088$635,648$709,858
59$720,209$650,451$630,696$738,198
60$766,597$655,249$624,751$765,958
61$816,864$659,430$617,754$795,674
62$871,379$662,937$609,643$827,541
63$930,546$665,707$600,353$861,776
64$994,813$667,678$589,815$898,618
65$1,064,669$668,779$577,960$938,331
66$1,140,655$668,939$564,711$981,209
67$1,223,364$668,079$549,991$1,027,575
68$1,313,449$666,118$533,718$1,077,787
69$1,411,631$662,968$515,808$1,132,239
70$1,518,700$658,535$496,169$1,191,370
71$1,635,527$652,723$474,711$1,255,663
72$1,763,070$645,426$451,333$1,325,650
73$1,902,386$636,535$425,936$1,401,923
74$2,054,636$625,931$398,411$1,485,134
75$2,221,098$613,492$368,647$1,576,002
76$2,403,182$599,085$336,529$1,675,323
77$2,602,438$582,571$301,934$1,783,978
78$2,820,573$563,803$264,735$1,902,936
79$3,059,467$542,625$224,799$2,033,269
80$3,321,191$518,872$181,988$2,176,163
81$3,608,025$492,370$136,158$2,332,926
82$3,922,481$462,933$87,156$2,505,000
83$4,267,323$430,367$34,825$2,693,981
84$4,645,600$394,464$0$2,901,628
85$5,060,665$355,007$0$3,135,268
86$5,516,216$311,765$0$3,401,530
87$6,016,322$264,493$0$3,693,899
88$6,565,469$212,936$0$4,015,037
89$7,168,596$156,819$0$4,367,878
90$7,831,147$95,857$0$4,755,657
91$8,559,115$29,745$0$5,181,939
92$9,359,105$0$0$5,650,657
93$10,238,394$0$0$6,175,814
94$11,204,997$0$0$6,760,737
95$12,267,745$0$0$7,403,905
96$13,436,369$0$0$8,111,213
97$14,721,587$0$0$8,889,158
98$16,135,211$0$0$9,744,897
99$17,690,254$0$0$10,686,317
100$19,401,052$0$0$11,722,106