Can I retire at age 58 with 491,000?

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 $491,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$40,546$40,185$39,833$39,489$39,153$38,536
2 years$20,072$19,699$19,336$18,985$18,644$18,024
3 years$13,249$12,873$12,512$12,164$11,829$11,225
4 years$9,838$9,463$9,105$8,763$8,436$7,854
5 years$7,791$7,419$7,066$6,731$6,413$5,853
6 years$6,428$6,058$5,711$5,383$5,075$4,538
7 years$5,454$5,088$4,745$4,426$4,127$3,613
8 years$4,724$4,361$4,025$3,713$3,424$2,934
9 years$4,157$3,797$3,466$3,162$2,883$2,416
10 years$3,703$3,347$3,022$2,726$2,457$2,012
11 years$3,332$2,980$2,661$2,372$2,113$1,691
12 years$3,023$2,674$2,361$2,081$1,831$1,431
13 years$2,762$2,417$2,110$1,837$1,597$1,217
14 years$2,538$2,197$1,895$1,631$1,400$1,041
15 years$2,345$2,007$1,711$1,454$1,232$893
16 years$2,175$1,841$1,552$1,302$1,089$769
17 years$2,026$1,696$1,412$1,170$966$664
18 years$1,894$1,567$1,289$1,054$859$575
19 years$1,775$1,452$1,180$953$765$499
20 years$1,669$1,349$1,083$863$684$433
21 years$1,573$1,257$996$783$612$377
22 years$1,485$1,173$918$712$548$329
23 years$1,406$1,097$848$648$492$287
24 years$1,333$1,028$784$591$442$250
25 years$1,266$965$726$540$398$219
26 years$1,204$907$673$494$359$191
27 years$1,147$853$625$452$323$167
28 years$1,094$804$581$414$292$146
29 years$1,045$759$541$380$263$128
30 years$999$717$504$349$238$112
31 years$957$677$470$320$215$98
32 years$917$641$438$294$195$86
33 years$879$607$409$271$176$76
34 years$844$575$382$249$159$66
35 years$811$546$357$229$144$58
36 years$780$518$334$211$131$51
37 years$750$492$313$194$119$45
38 years$723$467$293$179$108$39
39 years$696$444$275$165$98$35
40 years$671$423$257$152$88$30
41 years$648$403$241$141$80$27
42 years$625$383$226$130$73$23
43 years$604$365$212$120$66$21
44 years$583$348$199$111$60$18
45 years$564$332$187$102$54$16
46 years$545$317$176$94$49$14
47 years$528$302$165$87$45$12
48 years$511$289$155$81$41$11
49 years$495$276$146$74$37$9
50 years$479$263$137$69$34$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $491,000, adding $5,721 every year, while hoping to spend $26,977 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: 63/22/15 Blend
57$491,000$491,000$491,000$491,000
58$546,983$520,960$513,350$579,085
59$574,072$517,784$501,844$598,146
60$603,020$513,548$489,048$615,354
61$633,988$508,172$474,891$633,494
62$667,153$501,570$459,298$652,655
63$702,708$493,652$442,190$672,939
64$740,866$484,323$423,485$694,460
65$781,860$473,481$403,098$717,343
66$825,947$461,019$380,939$741,727
67$873,408$446,823$356,914$767,766
68$924,550$430,772$330,925$795,632
69$979,714$412,739$302,871$825,515
70$1,039,272$392,590$272,644$857,626
71$1,103,632$370,182$240,133$892,199
72$1,173,246$345,364$205,220$929,495
73$1,248,607$317,977$167,785$969,799
74$1,330,259$287,853$127,700$1,013,433
75$1,418,800$254,812$84,833$1,060,748
76$1,514,887$218,667$39,044$1,112,136
77$1,619,243$179,219$0$1,168,032
78$1,732,664$136,259$0$1,230,486
79$1,856,023$89,563$0$1,305,231
80$1,990,284$38,898$0$1,386,624
81$2,136,505$0$0$1,475,344
82$2,295,852$0$0$1,576,009
83$2,469,607$0$0$1,696,076
84$2,659,182$0$0$1,827,108
85$2,866,130$0$0$1,970,184
86$3,092,162$0$0$2,126,490
87$3,339,160$0$0$2,297,332
88$3,609,197$0$0$2,484,149
89$3,904,556$0$0$2,688,525
90$4,227,748$0$0$2,912,204
91$4,581,542$0$0$3,157,106
92$4,968,983$0$0$3,425,345
93$5,393,427$0$0$3,719,250
94$5,858,569$0$0$4,041,386
95$6,368,479$0$0$4,394,577
96$6,927,638$0$0$4,781,935
97$7,540,982$0$0$5,206,884
98$8,213,950$0$0$5,673,201
99$8,952,529$0$0$6,185,040
100$9,763,318$0$0$6,746,982