Can I retire at age 58 with 493,000?

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 $493,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$40,711$40,349$39,995$39,650$39,313$38,331
2 years$20,154$19,779$19,415$19,062$18,720$17,738
3 years$13,303$12,926$12,563$12,213$11,877$10,924
4 years$9,878$9,502$9,143$8,799$8,471$7,555
5 years$7,823$7,449$7,095$6,759$6,439$5,563
6 years$6,454$6,083$5,734$5,405$5,095$4,259
7 years$5,476$5,109$4,765$4,444$4,144$3,348
8 years$4,743$4,379$4,041$3,728$3,438$2,682
9 years$4,174$3,813$3,480$3,175$2,895$2,179
10 years$3,718$3,361$3,034$2,737$2,467$1,789
11 years$3,346$2,992$2,671$2,382$2,121$1,481
12 years$3,035$2,685$2,371$2,089$1,838$1,235
13 years$2,773$2,427$2,118$1,845$1,603$1,035
14 years$2,549$2,206$1,903$1,637$1,405$871
15 years$2,354$2,015$1,718$1,460$1,237$736
16 years$2,184$1,849$1,558$1,308$1,094$624
17 years$2,034$1,703$1,418$1,175$970$530
18 years$1,901$1,573$1,294$1,059$862$451
19 years$1,782$1,458$1,185$957$768$384
20 years$1,676$1,355$1,087$866$686$328
21 years$1,579$1,262$1,000$786$614$281
22 years$1,491$1,178$922$715$551$240
23 years$1,411$1,102$851$651$494$206
24 years$1,338$1,032$787$594$444$176
25 years$1,271$969$729$542$400$151
26 years$1,209$911$676$496$360$130
27 years$1,152$857$628$454$325$112
28 years$1,099$808$584$416$293$96
29 years$1,049$762$543$381$264$82
30 years$1,004$719$506$350$239$71
31 years$961$680$472$321$216$61
32 years$921$644$440$295$195$52
33 years$883$609$411$272$177$45
34 years$848$578$384$250$160$39
35 years$814$548$359$230$145$33
36 years$783$520$336$212$131$29
37 years$753$494$314$195$119$25
38 years$726$469$294$180$108$21
39 years$699$446$276$166$98$18
40 years$674$425$258$153$89$16
41 years$650$404$242$141$81$14
42 years$628$385$227$130$73$12
43 years$606$367$213$120$66$10
44 years$586$350$200$111$60$9
45 years$566$333$188$103$55$7
46 years$548$318$177$95$50$6
47 years$530$303$166$88$45$6
48 years$513$290$156$81$41$5
49 years$497$277$147$75$37$4
50 years$481$264$138$69$34$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $493,000, adding $5,108 every year, while hoping to spend $31,000 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: 40/38/22 Blend
57$493,000$493,000$493,000$493,000
58$548,555$522,426$514,784$566,747
59$571,524$515,041$499,046$572,904
60$595,796$506,255$481,741$576,236
61$621,473$495,967$462,785$579,215
62$648,664$484,070$442,088$581,826
63$677,487$470,449$419,558$584,056
64$708,074$454,984$395,097$585,891
65$740,568$437,549$368,603$587,321
66$775,125$418,008$339,970$588,337
67$811,915$396,218$309,087$588,933
68$851,127$372,029$275,838$589,104
69$892,965$345,281$240,101$588,851
70$937,653$315,806$201,750$588,175
71$985,438$283,425$160,653$587,084
72$1,036,590$247,950$116,673$585,592
73$1,091,405$209,182$69,663$583,715
74$1,150,206$166,910$19,475$581,481
75$1,213,351$120,913$0$578,920
76$1,281,230$70,955$0$584,077
77$1,354,273$16,788$0$594,399
78$1,432,950$0$0$605,415
79$1,517,779$0$0$634,740
80$1,609,329$0$0$674,015
81$1,708,224$0$0$716,494
82$1,815,151$0$0$762,478
83$1,930,864$0$0$812,298
84$2,056,193$0$0$866,320
85$2,192,049$0$0$924,944
86$2,339,436$0$0$988,611
87$2,499,455$0$0$1,057,805
88$2,673,321$0$0$1,133,060
89$2,862,366$0$0$1,214,964
90$3,068,060$0$0$1,304,160
91$3,292,018$0$0$1,401,361
92$3,536,016$0$0$1,507,348
93$3,802,011$0$0$1,622,982
94$4,092,154$0$0$1,749,209
95$4,408,816$0$0$1,887,074
96$4,754,604$0$0$2,037,722
97$5,132,390$0$0$2,202,420
98$5,545,333$0$0$2,382,557
99$5,996,913$0$0$2,579,666
100$6,490,963$0$0$2,795,435