Can I retire at age 58 with 610,000?

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 $610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$50,373$49,925$49,487$49,059$48,642$48,275
2 years$24,937$24,473$24,023$23,586$23,163$22,793
3 years$16,460$15,993$15,544$15,112$14,696$14,334
4 years$12,222$11,757$11,312$10,887$10,481$10,130
5 years$9,680$9,217$8,779$8,363$7,967$7,629
6 years$7,985$7,527$7,095$6,688$6,304$5,979
7 years$6,776$6,321$5,896$5,498$5,127$4,814
8 years$5,869$5,418$5,000$4,612$4,253$3,954
9 years$5,164$4,718$4,306$3,929$3,582$3,295
10 years$4,600$4,158$3,754$3,387$3,052$2,778
11 years$4,140$3,702$3,305$2,947$2,625$2,363
12 years$3,756$3,323$2,933$2,585$2,275$2,025
13 years$3,431$3,003$2,621$2,282$1,984$1,746
14 years$3,153$2,729$2,355$2,026$1,739$1,512
15 years$2,913$2,493$2,126$1,807$1,531$1,316
16 years$2,703$2,288$1,928$1,618$1,353$1,149
17 years$2,517$2,107$1,754$1,454$1,200$1,006
18 years$2,353$1,947$1,601$1,310$1,067$884
19 years$2,205$1,804$1,466$1,184$951$778
20 years$2,073$1,677$1,345$1,072$849$686
21 years$1,954$1,562$1,237$973$760$606
22 years$1,845$1,458$1,140$885$681$536
23 years$1,746$1,363$1,053$806$612$474
24 years$1,656$1,277$974$735$550$421
25 years$1,573$1,199$902$671$495$373
26 years$1,496$1,127$837$614$446$332
27 years$1,425$1,060$777$562$402$295
28 years$1,360$999$722$515$362$262
29 years$1,299$943$672$472$327$233
30 years$1,242$890$626$433$296$208
31 years$1,189$841$584$398$267$185
32 years$1,139$796$544$366$242$165
33 years$1,092$754$508$336$219$147
34 years$1,049$715$475$309$198$131
35 years$1,008$678$444$285$179$117
36 years$969$643$415$262$163$105
37 years$932$611$389$242$147$93
38 years$898$581$364$223$134$83
39 years$865$552$341$205$121$74
40 years$834$525$320$189$110$67
41 years$805$500$300$175$100$59
42 years$777$476$281$161$90$53
43 years$750$454$264$149$82$47
44 years$725$433$248$137$75$42
45 years$701$412$233$127$68$38
46 years$678$394$218$117$61$34
47 years$656$376$205$108$56$30
48 years$635$358$193$100$51$27
49 years$615$342$181$93$46$24
50 years$596$327$170$86$42$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $610,000, adding $2,822 every year, while hoping to spend $20,397 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: 49/40/11 Blend
57$610,000$610,000$610,000$610,000
58$675,131$642,801$633,346$706,065
59$722,292$652,596$632,861$737,389
60$773,580$662,187$631,676$769,024
61$829,394$671,543$629,746$802,920
62$890,174$680,631$627,024$839,297
63$956,403$689,413$623,461$878,394
64$1,028,613$697,851$619,004$920,477
65$1,107,391$705,905$613,600$965,839
66$1,193,381$713,530$607,191$1,014,803
67$1,287,292$720,680$599,718$1,067,726
68$1,389,906$727,303$591,119$1,125,001
69$1,502,083$733,347$581,328$1,187,064
70$1,624,769$738,756$570,276$1,254,393
71$1,759,008$743,467$557,893$1,327,519
72$1,905,948$747,418$544,104$1,407,027
73$2,066,853$750,539$528,829$1,493,560
74$2,243,114$752,758$511,987$1,587,831
75$2,436,265$753,997$493,493$1,690,626
76$2,647,996$754,174$473,256$1,802,812
77$2,880,164$753,201$451,182$1,925,346
78$3,134,819$750,986$427,175$2,059,283
79$3,414,216$747,431$401,131$2,205,789
80$3,720,840$742,429$372,944$2,366,151
81$4,057,430$735,872$342,501$2,541,785
82$4,426,998$727,640$309,685$2,734,260
83$4,832,868$717,610$274,376$2,945,301
84$5,278,697$705,650$236,444$3,176,814
85$5,768,517$691,619$195,757$3,430,903
86$6,306,766$675,370$152,176$3,709,886
87$6,898,338$656,745$105,556$4,016,324
88$7,548,622$635,578$55,745$4,353,039
89$8,263,553$611,693$2,584$4,723,145
90$9,049,675$584,905$0$5,130,079
91$9,914,192$555,016$0$5,583,984
92$10,865,046$521,819$0$6,083,422
93$11,910,985$485,092$0$6,632,721
94$13,061,648$444,604$0$7,236,987
95$14,327,654$400,107$0$7,901,852
96$15,720,704$351,342$0$8,633,525
97$17,253,692$298,034$0$9,438,853
98$18,940,824$239,892$0$10,325,384
99$20,797,751$176,610$0$11,301,442
100$22,841,721$107,864$0$12,376,204