Can I retire at age 58 with 628,000?

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 $628,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$51,860$51,398$50,947$50,507$50,078$48,148
2 years$25,673$25,195$24,732$24,282$23,846$21,925
3 years$16,945$16,465$16,003$15,558$15,129$13,277
4 years$12,582$12,104$11,646$11,209$10,790$9,021
5 years$9,965$9,489$9,038$8,609$8,203$6,521
6 years$8,221$7,749$7,304$6,885$6,490$4,898
7 years$6,976$6,507$6,070$5,660$5,278$3,774
8 years$6,042$5,578$5,147$4,748$4,379$2,962
9 years$5,316$4,857$4,434$4,045$3,688$2,355
10 years$4,736$4,281$3,865$3,486$3,142$1,892
11 years$4,262$3,811$3,403$3,034$2,702$1,531
12 years$3,867$3,421$3,020$2,661$2,342$1,247
13 years$3,533$3,091$2,698$2,350$2,042$1,021
14 years$3,247$2,810$2,424$2,086$1,790$839
15 years$2,999$2,567$2,189$1,860$1,576$691
16 years$2,782$2,355$1,984$1,666$1,393$571
17 years$2,591$2,169$1,806$1,496$1,235$473
18 years$2,422$2,004$1,648$1,349$1,098$392
19 years$2,271$1,857$1,509$1,219$979$326
20 years$2,134$1,726$1,385$1,104$874$271
21 years$2,011$1,608$1,274$1,002$782$225
22 years$1,900$1,501$1,174$911$701$188
23 years$1,798$1,404$1,084$829$630$156
24 years$1,705$1,315$1,003$756$566$130
25 years$1,619$1,234$929$691$509$109
26 years$1,540$1,160$861$632$459$91
27 years$1,467$1,092$800$578$414$76
28 years$1,400$1,029$743$530$373$63
29 years$1,337$970$692$486$337$53
30 years$1,278$916$644$446$304$44
31 years$1,224$866$601$409$275$37
32 years$1,173$820$561$376$249$31
33 years$1,125$776$523$346$225$26
34 years$1,080$736$489$318$204$22
35 years$1,037$698$457$293$185$18
36 years$997$662$428$270$167$15
37 years$960$629$400$249$152$13
38 years$924$598$375$229$138$11
39 years$890$569$351$211$125$9
40 years$859$541$329$195$113$7
41 years$828$515$309$180$103$6
42 years$800$490$290$166$93$5
43 years$772$467$272$153$85$4
44 years$746$445$255$141$77$4
45 years$721$425$239$131$70$3
46 years$698$405$225$121$63$3
47 years$675$387$211$112$57$2
48 years$654$369$199$103$52$2
49 years$633$352$187$95$47$1
50 years$613$337$175$88$43$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $628,000, adding $4,431 every year, while hoping to spend $37,644 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: 62/24/14 Blend
57$628,000$628,000$628,000$628,000
58$696,627$663,343$653,609$737,173
59$727,630$655,793$635,452$757,383
60$760,533$646,613$615,425$774,756
61$795,492$635,681$593,425$792,809
62$832,673$622,871$569,347$811,611
63$872,263$608,048$543,077$831,238
64$914,462$591,071$514,498$851,775
65$959,493$571,789$483,489$873,318
66$1,007,597$550,042$449,922$895,974
67$1,059,039$525,662$413,662$919,862
68$1,114,113$498,471$374,571$945,117
69$1,173,135$468,279$332,502$971,889
70$1,236,458$434,888$287,304$1,000,344
71$1,304,465$398,085$238,817$1,030,670
72$1,377,577$357,649$186,874$1,063,073
73$1,456,260$313,343$131,304$1,097,788
74$1,541,020$264,919$71,925$1,135,072
75$1,632,417$212,112$8,547$1,175,213
76$1,731,064$154,646$0$1,218,533
77$1,837,635$92,227$0$1,274,215
78$1,952,872$24,544$0$1,335,766
79$2,077,588$0$0$1,402,382
80$2,212,680$0$0$1,487,457
81$2,359,131$0$0$1,586,752
82$2,518,024$0$0$1,694,523
83$2,690,549$0$0$1,811,583
84$2,878,016$0$0$1,938,827
85$3,081,865$0$0$2,077,237
86$3,303,680$0$0$2,227,895
87$3,545,206$0$0$2,391,992
88$3,808,362$0$0$2,570,838
89$4,095,257$0$0$2,765,874
90$4,408,217$0$0$2,978,688
91$4,749,799$0$0$3,211,025
92$5,122,818$0$0$3,464,808
93$5,530,375$0$0$3,742,155
94$5,975,881$0$0$4,045,395
95$6,463,092$0$0$4,377,094
96$6,996,146$0$0$4,740,078
97$7,579,597$0$0$5,137,455
98$8,218,459$0$0$5,572,653
99$8,918,257$0$0$6,049,443
100$9,685,072$0$0$6,571,980