Can I retire at age 58 with 489,000?

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 $489,000?

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$40,381$40,021$39,671$39,328$38,994$38,732
2 years$19,991$19,618$19,258$18,908$18,568$18,304
3 years$13,195$12,821$12,461$12,114$11,781$11,522
4 years$9,797$9,425$9,068$8,728$8,402$8,152
5 years$7,760$7,389$7,037$6,704$6,387$6,145
6 years$6,401$6,034$5,687$5,361$5,054$4,821
7 years$5,432$5,067$4,726$4,408$4,110$3,887
8 years$4,705$4,343$4,008$3,697$3,410$3,195
9 years$4,140$3,782$3,452$3,149$2,872$2,666
10 years$3,688$3,333$3,010$2,715$2,447$2,250
11 years$3,318$2,968$2,650$2,363$2,104$1,916
12 years$3,011$2,664$2,352$2,072$1,823$1,644
13 years$2,751$2,407$2,101$1,830$1,590$1,419
14 years$2,528$2,188$1,888$1,624$1,394$1,231
15 years$2,335$1,999$1,704$1,448$1,227$1,073
16 years$2,166$1,834$1,545$1,297$1,085$938
17 years$2,018$1,689$1,406$1,165$962$823
18 years$1,886$1,561$1,284$1,050$855$723
19 years$1,768$1,446$1,175$949$762$638
20 years$1,662$1,344$1,078$859$681$563
21 years$1,566$1,252$992$780$609$498
22 years$1,479$1,169$914$709$546$441
23 years$1,400$1,093$844$646$490$391
24 years$1,327$1,024$781$589$441$347
25 years$1,261$961$723$538$396$309
26 years$1,199$903$671$492$357$275
27 years$1,143$850$623$450$322$245
28 years$1,090$801$579$413$291$218
29 years$1,041$756$539$378$262$194
30 years$995$714$502$347$237$173
31 years$953$675$468$319$214$155
32 years$913$638$436$293$194$138
33 years$876$604$408$269$175$123
34 years$841$573$381$248$159$110
35 years$808$543$356$228$144$99
36 years$777$516$333$210$130$88
37 years$747$490$312$194$118$79
38 years$720$466$292$179$107$70
39 years$693$443$273$165$97$63
40 years$669$421$256$152$88$56
41 years$645$401$240$140$80$50
42 years$623$382$225$129$73$45
43 years$601$364$212$119$66$40
44 years$581$347$199$110$60$36
45 years$562$331$186$102$54$32
46 years$543$315$175$94$49$29
47 years$526$301$165$87$45$26
48 years$509$287$155$80$41$23
49 years$493$274$145$74$37$21
50 years$477$262$137$69$34$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $489,000, adding $4,985 every year, while hoping to spend $23,420 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: 55/31/14 Blend
57$489,000$489,000$489,000$489,000
58$544,020$518,103$510,524$571,689
59$574,591$518,571$502,707$591,524
60$607,496$518,278$493,844$610,149
61$642,947$517,160$483,875$629,892
62$681,180$515,152$472,736$650,863
63$722,450$512,185$460,363$673,188
64$767,041$508,183$446,687$697,002
65$815,264$503,069$431,635$722,459
66$867,461$496,759$415,135$749,727
67$924,006$489,164$397,106$778,995
68$985,312$480,191$377,467$810,470
69$1,051,835$469,741$356,132$844,383
70$1,124,072$457,709$333,013$880,989
71$1,202,573$443,982$308,015$920,572
72$1,287,943$428,445$281,041$963,445
73$1,380,845$410,971$251,988$1,009,957
74$1,482,012$391,429$220,750$1,060,492
75$1,592,248$369,680$187,216$1,115,476
76$1,712,439$345,576$151,269$1,175,382
77$1,843,560$318,961$112,789$1,240,733
78$1,986,683$289,670$71,647$1,312,106
79$2,142,989$257,529$27,712$1,390,142
80$2,313,780$222,353$0$1,475,549
81$2,500,485$183,948$0$1,571,975
82$2,704,681$142,108$0$1,682,025
83$2,928,104$96,617$0$1,802,538
84$3,172,663$47,243$0$1,934,596
85$3,440,463$0$0$2,079,396
86$3,733,820$0$0$2,240,392
87$4,055,287$0$0$2,434,518
88$4,407,672$0$0$2,647,362
89$4,794,071$0$0$2,880,799
90$5,217,893$0$0$3,136,893
91$5,682,892$0$0$3,417,920
92$6,193,203$0$0$3,726,385
93$6,753,381$0$0$4,065,049
94$7,368,444$0$0$4,436,951
95$8,043,919$0$0$4,845,441
96$8,785,896$0$0$5,294,209
97$9,601,081$0$0$5,787,319
98$10,496,865$0$0$6,329,249
99$11,481,387$0$0$6,924,931
100$12,563,617$0$0$7,579,802