Can I retire at age 58 with 617,000?

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 $617,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$50,951$50,497$50,055$49,622$49,200$48,566
2 years$25,223$24,754$24,298$23,857$23,429$22,790
3 years$16,649$16,177$15,723$15,285$14,864$14,241
4 years$12,362$11,892$11,442$11,012$10,601$9,999
5 years$9,791$9,323$8,880$8,458$8,059$7,480
6 years$8,077$7,613$7,176$6,764$6,377$5,821
7 years$6,854$6,393$5,963$5,561$5,186$4,653
8 years$5,936$5,480$5,057$4,665$4,302$3,793
9 years$5,223$4,772$4,356$3,974$3,623$3,137
10 years$4,653$4,206$3,798$3,425$3,087$2,624
11 years$4,187$3,744$3,343$2,981$2,655$2,214
12 years$3,799$3,361$2,967$2,615$2,301$1,882
13 years$3,471$3,037$2,651$2,309$2,006$1,609
14 years$3,190$2,761$2,382$2,049$1,759$1,382
15 years$2,946$2,522$2,150$1,828$1,549$1,192
16 years$2,734$2,314$1,950$1,636$1,369$1,031
17 years$2,546$2,131$1,774$1,470$1,213$895
18 years$2,380$1,969$1,620$1,325$1,079$779
19 years$2,231$1,825$1,483$1,197$962$679
20 years$2,097$1,696$1,361$1,084$859$593
21 years$1,976$1,580$1,252$984$769$519
22 years$1,866$1,474$1,154$895$689$454
23 years$1,766$1,379$1,065$815$619$398
24 years$1,675$1,292$985$743$556$350
25 years$1,591$1,213$912$679$500$307
26 years$1,513$1,140$846$621$451$270
27 years$1,442$1,072$786$568$406$238
28 years$1,375$1,011$730$520$367$209
29 years$1,313$953$680$477$331$184
30 years$1,256$900$633$438$299$162
31 years$1,202$851$590$402$270$143
32 years$1,152$805$551$370$245$126
33 years$1,105$763$514$340$221$111
34 years$1,061$723$480$313$200$98
35 years$1,019$686$449$288$182$87
36 years$980$651$420$265$164$77
37 years$943$618$393$244$149$68
38 years$908$587$368$225$135$60
39 years$875$559$345$208$123$53
40 years$844$531$323$192$111$47
41 years$814$506$303$177$101$41
42 years$786$482$284$163$92$36
43 years$759$459$267$151$83$32
44 years$733$438$251$139$75$28
45 years$709$417$235$128$68$25
46 years$685$398$221$119$62$22
47 years$663$380$208$110$56$20
48 years$642$363$195$101$51$17
49 years$622$346$183$94$47$15
50 years$602$331$172$86$42$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $617,000, adding $2,354 every year, while hoping to spend $43,378 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: 49/42/9 Blend
57$617,000$617,000$617,000$617,000
58$682,362$649,661$640,098$714,050
59$705,809$635,341$615,387$721,677
60$730,194$618,865$588,395$725,182
61$755,567$600,082$558,999$727,983
62$781,980$578,831$527,071$730,028
63$809,492$554,944$492,478$731,259
64$838,165$528,241$455,080$731,619
65$868,064$498,531$414,732$731,047
66$899,262$465,615$371,281$729,478
67$931,836$429,279$324,568$726,846
68$965,869$389,299$274,427$723,082
69$1,001,451$345,439$220,684$718,115
70$1,038,681$297,447$163,158$711,868
71$1,077,662$245,058$101,660$704,267
72$1,118,511$187,993$35,993$695,229
73$1,161,350$125,956$0$684,675
74$1,206,315$58,635$0$675,791
75$1,253,551$0$0$669,118
76$1,303,217$0$0$667,740
77$1,355,486$0$0$694,831
78$1,410,546$0$0$723,393
79$1,468,601$0$0$753,536
80$1,529,874$0$0$785,378
81$1,594,608$0$0$819,051
82$1,663,069$0$0$854,695
83$1,735,546$0$0$892,467
84$1,812,356$0$0$932,534
85$1,893,843$0$0$975,083
86$1,980,385$0$0$1,020,317
87$2,072,396$0$0$1,068,456
88$2,170,328$0$0$1,119,743
89$2,274,674$0$0$1,174,444
90$2,385,978$0$0$1,232,850
91$2,504,832$0$0$1,295,280
92$2,631,887$0$0$1,362,083
93$2,767,856$0$0$1,433,642
94$2,913,521$0$0$1,510,378
95$3,069,739$0$0$1,592,752
96$3,237,450$0$0$1,681,271
97$3,417,688$0$0$1,776,489
98$3,611,586$0$0$1,879,016
99$3,820,388$0$0$1,989,524
100$4,045,462$0$0$2,108,746