Can I retire at age 58 with 470,000?

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 $470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$38,812$38,466$38,129$37,800$37,478$36,293
2 years$19,214$18,856$18,509$18,173$17,847$16,664
3 years$12,682$12,323$11,977$11,644$11,323$10,178
4 years$9,417$9,058$8,716$8,389$8,076$6,979
5 years$7,458$7,102$6,764$6,443$6,139$5,093
6 years$6,153$5,799$5,466$5,153$4,857$3,863
7 years$5,221$4,870$4,543$4,236$3,950$3,008
8 years$4,522$4,175$3,852$3,554$3,277$2,385
9 years$3,979$3,635$3,318$3,027$2,760$1,918
10 years$3,545$3,204$2,893$2,609$2,352$1,558
11 years$3,190$2,852$2,547$2,271$2,022$1,276
12 years$2,894$2,560$2,260$1,992$1,753$1,052
13 years$2,644$2,314$2,019$1,759$1,528$872
14 years$2,430$2,103$1,814$1,561$1,340$725
15 years$2,244$1,921$1,638$1,392$1,180$605
16 years$2,082$1,763$1,485$1,247$1,043$507
17 years$1,939$1,623$1,351$1,120$924$425
18 years$1,813$1,500$1,234$1,009$822$357
19 years$1,699$1,390$1,129$912$733$301
20 years$1,597$1,292$1,037$826$654$254
21 years$1,505$1,203$953$750$586$214
22 years$1,422$1,123$879$682$525$181
23 years$1,346$1,050$811$621$471$153
24 years$1,276$984$750$566$423$129
25 years$1,212$924$695$517$381$109
26 years$1,153$868$645$473$343$93
27 years$1,098$817$599$433$309$78
28 years$1,048$770$556$396$279$66
29 years$1,001$726$518$364$252$56
30 years$957$686$482$334$228$48
31 years$916$648$450$306$206$41
32 years$878$613$420$282$186$34
33 years$842$581$392$259$169$29
34 years$808$551$366$238$153$25
35 years$776$522$342$219$138$21
36 years$746$496$320$202$125$18
37 years$718$471$300$186$114$15
38 years$692$447$281$172$103$13
39 years$666$425$263$158$93$11
40 years$643$405$246$146$85$9
41 years$620$385$231$135$77$8
42 years$598$367$217$124$70$7
43 years$578$350$203$115$63$6
44 years$558$333$191$106$57$5
45 years$540$318$179$98$52$4
46 years$522$303$168$90$47$3
47 years$505$289$158$83$43$3
48 years$489$276$149$77$39$2
49 years$474$264$140$71$35$2
50 years$459$252$131$66$32$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $470,000, adding $2,549 every year, while hoping to spend $36,745 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: 23/48/29 Blend
57$470,000$470,000$470,000$470,000
58$520,569$495,659$488,374$527,742
59$534,571$480,850$465,638$519,385
60$548,769$464,084$440,909$507,200
61$563,145$445,226$414,082$493,380
62$577,678$424,133$385,045$477,814
63$592,341$400,656$353,683$460,386
64$607,105$374,633$319,877$440,973
65$621,937$345,898$283,501$419,442
66$636,799$314,271$244,422$395,656
67$651,646$279,564$202,504$369,467
68$666,430$241,578$157,604$340,719
69$681,093$200,103$109,571$309,248
70$695,572$154,916$58,250$274,879
71$709,797$105,783$3,477$237,427
72$723,685$52,455$0$196,695
73$737,147$0$0$169,487
74$750,081$0$0$143,640
75$762,373$0$0$145,291
76$773,896$0$0$146,702
77$784,508$0$0$147,834
78$794,050$0$0$148,645
79$802,345$0$0$149,091
80$809,197$0$0$149,118
81$814,385$0$0$148,669
82$817,666$0$0$147,682
83$818,768$0$0$146,085
84$817,390$0$0$143,800
85$813,198$0$0$140,741
86$805,819$0$0$136,812
87$794,843$0$0$131,906
88$779,812$0$0$125,905
89$760,221$0$0$118,680
90$735,509$0$0$110,085
91$705,055$0$0$99,962
92$668,173$0$0$88,133
93$624,101$0$0$74,404
94$571,999$0$0$58,559
95$510,936$0$0$40,360
96$439,884$0$0$19,543
97$357,704$0$0$0
98$263,140$0$0$0
99$154,802$0$0$0
100$31,156$0$0$0