Can I retire at age 58 with 624,000?

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 $624,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$51,529$51,070$50,623$50,185$49,759$49,528
2 years$25,510$25,034$24,574$24,128$23,695$23,462
3 years$16,837$16,360$15,901$15,459$15,033$14,805
4 years$12,502$12,027$11,572$11,137$10,722$10,501
5 years$9,902$9,429$8,980$8,554$8,150$7,937
6 years$8,169$7,699$7,257$6,841$6,449$6,243
7 years$6,931$6,466$6,031$5,624$5,245$5,047
8 years$6,004$5,543$5,115$4,718$4,351$4,161
9 years$5,283$4,826$4,405$4,019$3,664$3,482
10 years$4,706$4,254$3,841$3,464$3,122$2,948
11 years$4,235$3,787$3,381$3,015$2,685$2,518
12 years$3,842$3,399$3,001$2,645$2,327$2,167
13 years$3,510$3,072$2,681$2,335$2,029$1,877
14 years$3,226$2,792$2,409$2,073$1,779$1,634
15 years$2,980$2,551$2,175$1,848$1,566$1,428
16 years$2,765$2,340$1,972$1,655$1,384$1,253
17 years$2,575$2,155$1,794$1,487$1,227$1,103
18 years$2,407$1,991$1,638$1,340$1,091$973
19 years$2,256$1,846$1,499$1,211$973$861
20 years$2,121$1,715$1,376$1,097$869$763
21 years$1,999$1,597$1,266$995$777$677
22 years$1,888$1,491$1,167$905$697$602
23 years$1,786$1,395$1,077$824$626$536
24 years$1,694$1,307$996$752$562$478
25 years$1,609$1,226$923$686$506$426
26 years$1,530$1,153$856$628$456$381
27 years$1,458$1,085$795$575$411$340
28 years$1,391$1,022$739$526$371$305
29 years$1,328$964$687$483$335$273
30 years$1,270$911$640$443$302$244
31 years$1,216$861$597$407$273$219
32 years$1,165$814$557$374$247$196
33 years$1,117$771$520$344$224$176
34 years$1,073$731$486$316$203$158
35 years$1,031$693$454$291$184$142
36 years$991$658$425$268$166$127
37 years$954$625$398$247$151$114
38 years$918$594$372$228$137$103
39 years$885$565$349$210$124$92
40 years$853$537$327$194$112$83
41 years$823$512$307$179$102$74
42 years$794$487$288$165$93$67
43 years$767$464$270$152$84$60
44 years$741$443$253$141$76$54
45 years$717$422$238$130$69$49
46 years$693$403$223$120$63$44
47 years$671$384$210$111$57$39
48 years$649$367$197$102$52$35
49 years$629$350$185$95$47$32
50 years$609$335$174$87$43$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $624,000, adding $2,576 every year, while hoping to spend $24,792 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: 44/47/9 Blend
57$624,000$624,000$624,000$624,000
58$690,305$657,233$647,561$718,795
59$734,338$663,059$642,876$744,642
60$782,031$668,340$637,203$769,902
61$833,731$673,022$630,483$796,715
62$889,821$677,049$622,653$825,232
63$950,721$680,362$613,650$855,621
64$1,016,891$682,896$603,404$888,069
65$1,088,840$684,585$591,844$922,782
66$1,167,128$685,355$578,896$959,988
67$1,252,368$685,131$564,483$999,941
68$1,345,238$683,830$548,521$1,042,922
69$1,446,482$681,368$530,926$1,089,240
70$1,556,920$677,652$511,609$1,139,241
71$1,677,453$672,585$490,476$1,193,304
72$1,809,076$666,064$467,430$1,251,852
73$1,952,881$657,980$442,367$1,315,352
74$2,110,071$648,217$415,183$1,384,319
75$2,281,971$636,653$385,765$1,459,326
76$2,470,041$623,157$353,996$1,541,005
77$2,675,885$607,592$319,755$1,630,056
78$2,901,274$589,813$282,916$1,727,253
79$3,148,154$569,664$243,344$1,833,452
80$3,418,672$546,983$200,901$1,949,600
81$3,715,188$521,597$155,443$2,076,743
82$4,040,305$493,323$106,818$2,216,040
83$4,396,888$461,968$54,869$2,368,769
84$4,788,093$427,327$0$2,536,345
85$5,217,398$389,185$0$2,720,386
86$5,688,630$347,313$0$2,928,192
87$6,206,008$301,469$0$3,156,414
88$6,774,179$251,399$0$3,407,178
89$7,398,260$196,832$0$3,682,835
90$8,083,891$137,486$0$3,985,978
91$8,837,283$73,058$0$4,319,469
92$9,665,279$3,231$0$4,686,472
93$10,575,419$0$0$5,090,476
94$11,576,008$0$0$5,572,742
95$12,676,196$0$0$6,104,934
96$13,886,066$0$0$6,690,268
97$15,216,725$0$0$7,334,130
98$16,680,411$0$0$8,042,451
99$18,290,608$0$0$8,821,768
100$20,062,172$0$0$9,679,284