Can I retire at age 58 with 490,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$40,464$40,103$39,752$39,408$39,073$38,746
2 years$20,032$19,658$19,297$18,946$18,606$18,276
3 years$13,222$12,847$12,486$12,139$11,805$11,482
4 years$9,817$9,444$9,087$8,746$8,419$8,107
5 years$7,775$7,404$7,052$6,717$6,400$6,099
6 years$6,415$6,046$5,699$5,372$5,064$4,774
7 years$5,443$5,077$4,736$4,417$4,119$3,840
8 years$4,714$4,352$4,016$3,705$3,417$3,150
9 years$4,148$3,789$3,459$3,156$2,877$2,622
10 years$3,695$3,340$3,016$2,720$2,452$2,208
11 years$3,325$2,974$2,655$2,368$2,109$1,876
12 years$3,017$2,669$2,356$2,077$1,827$1,606
13 years$2,756$2,412$2,105$1,833$1,593$1,382
14 years$2,533$2,192$1,892$1,627$1,397$1,196
15 years$2,340$2,003$1,708$1,451$1,230$1,039
16 years$2,171$1,838$1,548$1,300$1,087$906
17 years$2,022$1,692$1,409$1,168$964$793
18 years$1,890$1,564$1,286$1,052$857$695
19 years$1,772$1,449$1,177$951$764$611
20 years$1,665$1,347$1,081$861$682$538
21 years$1,569$1,254$994$782$610$474
22 years$1,482$1,171$916$711$547$419
23 years$1,403$1,095$846$647$491$370
24 years$1,330$1,026$782$590$442$328
25 years$1,263$963$725$539$397$291
26 years$1,202$905$672$493$358$258
27 years$1,145$852$624$451$323$229
28 years$1,092$803$580$413$291$203
29 years$1,043$757$540$379$263$181
30 years$997$715$503$348$238$161
31 years$955$676$469$319$215$143
32 years$915$640$437$294$194$127
33 years$878$606$408$270$176$113
34 years$842$574$382$248$159$101
35 years$809$544$357$229$144$90
36 years$778$517$334$211$131$80
37 years$749$491$312$194$118$71
38 years$721$466$292$179$107$64
39 years$695$444$274$165$97$57
40 years$670$422$257$152$88$51
41 years$646$402$241$140$80$45
42 years$624$383$226$130$73$40
43 years$603$365$212$120$66$36
44 years$582$347$199$110$60$32
45 years$563$331$187$102$54$29
46 years$544$316$175$94$49$25
47 years$527$302$165$87$45$23
48 years$510$288$155$80$41$20
49 years$494$275$146$74$37$18
50 years$478$263$137$69$34$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $490,000, adding $3,278 every year, while hoping to spend $28,172 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: 48/36/16 Blend
57$490,000$490,000$490,000$490,000
58$543,361$517,391$509,796$566,861
59$568,809$512,769$496,900$578,844
60$595,909$506,975$482,627$588,698
61$624,799$499,924$466,902$598,787
62$655,631$491,523$449,645$609,142
63$688,571$481,674$430,775$619,801
64$723,802$470,273$410,203$630,806
65$761,525$457,211$387,839$642,209
66$801,958$442,372$363,589$654,064
67$845,342$425,632$337,354$666,437
68$891,941$406,862$309,029$679,401
69$942,045$385,924$278,508$693,040
70$995,971$362,673$245,676$707,448
71$1,054,071$336,954$210,416$722,733
72$1,116,726$308,605$172,606$739,015
73$1,184,360$277,454$132,115$756,433
74$1,257,434$243,319$88,811$775,140
75$1,336,458$206,008$42,552$795,309
76$1,421,992$165,317$0$817,136
77$1,514,651$121,033$0$842,004
78$1,615,111$72,929$0$876,823
79$1,724,116$20,766$0$914,625
80$1,842,483$0$0$955,745
81$1,971,113$0$0$1,014,706
82$2,110,995$0$0$1,087,818
83$2,263,218$0$0$1,167,430
84$2,428,981$0$0$1,254,176
85$2,609,601$0$0$1,348,751
86$2,806,529$0$0$1,451,922
87$3,021,363$0$0$1,564,533
88$3,255,859$0$0$1,687,512
89$3,511,953$0$0$1,821,882
90$3,791,775$0$0$1,968,769
91$4,097,669$0$0$2,129,411
92$4,432,217$0$0$2,305,174
93$4,798,261$0$0$2,497,559
94$5,198,932$0$0$2,708,221
95$5,637,675$0$0$2,938,982
96$6,118,286$0$0$3,191,847
97$6,644,945$0$0$3,469,028
98$7,222,255$0$0$3,772,956
99$7,855,285$0$0$4,106,313
100$8,549,620$0$0$4,472,051