Can I retire at age 58 with 631,000?

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 $631,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$52,107$51,643$51,190$50,748$50,317$49,979
2 years$25,796$25,315$24,850$24,398$23,960$23,619
3 years$17,026$16,544$16,079$15,632$15,201$14,868
4 years$12,642$12,161$11,702$11,262$10,842$10,519
5 years$10,013$9,535$9,081$8,650$8,242$7,930
6 years$8,260$7,786$7,339$6,918$6,521$6,221
7 years$7,009$6,539$6,099$5,687$5,304$5,015
8 years$6,071$5,605$5,172$4,771$4,400$4,123
9 years$5,342$4,880$4,455$4,064$3,705$3,440
10 years$4,759$4,301$3,884$3,503$3,157$2,904
11 years$4,282$3,829$3,419$3,049$2,715$2,473
12 years$3,885$3,437$3,034$2,674$2,353$2,122
13 years$3,549$3,106$2,711$2,361$2,052$1,832
14 years$3,262$2,823$2,436$2,096$1,799$1,589
15 years$3,013$2,579$2,199$1,869$1,584$1,384
16 years$2,796$2,366$1,994$1,674$1,400$1,211
17 years$2,604$2,179$1,814$1,504$1,241$1,062
18 years$2,434$2,014$1,656$1,355$1,103$934
19 years$2,281$1,866$1,516$1,224$984$823
20 years$2,145$1,734$1,392$1,109$879$726
21 years$2,021$1,615$1,280$1,006$786$643
22 years$1,909$1,508$1,180$915$705$569
23 years$1,806$1,410$1,089$833$633$505
24 years$1,713$1,321$1,007$760$569$448
25 years$1,627$1,240$933$694$512$399
26 years$1,548$1,165$865$635$461$355
27 years$1,474$1,097$804$581$415$316
28 years$1,406$1,034$747$532$375$281
29 years$1,343$975$695$488$339$251
30 years$1,284$921$648$448$306$224
31 years$1,230$870$604$411$277$200
32 years$1,178$824$563$378$250$178
33 years$1,130$780$526$348$226$159
34 years$1,085$739$491$320$205$142
35 years$1,042$701$459$295$186$127
36 years$1,002$666$430$271$168$114
37 years$964$632$402$250$152$102
38 years$929$601$377$230$138$91
39 years$895$571$353$212$125$81
40 years$863$543$331$196$114$73
41 years$832$517$310$181$103$65
42 years$803$493$291$167$94$58
43 years$776$469$273$154$85$52
44 years$750$447$256$142$77$47
45 years$725$427$241$131$70$42
46 years$701$407$226$121$64$37
47 years$678$388$212$112$58$34
48 years$657$371$200$104$52$30
49 years$636$354$188$96$48$27
50 years$616$338$176$88$43$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $631,000, adding $6,106 every year, while hoping to spend $24,434 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: 69/15/16 Blend
57$631,000$631,000$631,000$631,000
58$701,660$668,217$658,437$747,028
59$747,232$674,962$654,497$784,773
60$796,633$681,219$649,606$822,581
61$850,229$686,938$643,707$863,328
62$908,419$692,065$636,738$907,302
63$971,647$696,545$628,638$954,819
64$1,040,396$700,317$619,339$1,006,228
65$1,115,202$703,318$608,772$1,061,913
66$1,196,652$705,479$596,864$1,122,299
67$1,285,391$706,729$583,541$1,187,853
68$1,382,133$706,991$568,721$1,259,091
69$1,487,660$706,183$552,323$1,336,582
70$1,602,834$704,218$534,258$1,420,955
71$1,728,604$701,005$514,436$1,512,900
72$1,866,014$696,447$492,762$1,613,182
73$2,016,214$690,440$469,137$1,722,641
74$2,180,471$682,874$443,456$1,842,206
75$2,360,178$673,634$415,610$1,972,901
76$2,556,869$662,596$385,487$2,115,856
77$2,772,236$649,629$352,967$2,272,314
78$3,008,139$634,596$317,926$2,443,649
79$3,266,628$617,350$280,236$2,631,375
80$3,549,960$597,736$239,759$2,837,162
81$3,860,622$575,590$196,357$3,062,852
82$4,201,350$550,739$149,880$3,310,474
83$4,575,162$523,000$100,175$3,582,267
84$4,985,378$492,177$47,081$3,880,701
85$5,435,659$458,065$0$4,208,498
86$5,930,033$420,448$0$4,570,295
87$6,472,942$379,096$0$4,976,450
88$7,069,277$333,765$0$5,422,597
89$7,724,424$284,201$0$5,912,793
90$8,444,320$230,131$0$6,451,509
91$9,235,503$171,271$0$7,043,671
92$10,105,178$107,316$0$7,694,710
93$11,061,281$37,950$0$8,410,609
94$12,112,555$0$0$9,197,964
95$13,268,635$0$0$10,070,179
96$14,540,134$0$0$11,036,402
97$15,938,746$0$0$12,099,260
98$17,477,355$0$0$13,268,550
99$19,170,157$0$0$14,555,065
100$21,032,793$0$0$15,970,698