Can I retire at age 58 with 493,000?

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 $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%11.4%
1 years$40,711$40,349$39,995$39,650$39,313$39,081
2 years$20,154$19,779$19,415$19,062$18,720$18,487
3 years$13,303$12,926$12,563$12,213$11,877$11,649
4 years$9,878$9,502$9,143$8,799$8,471$8,249
5 years$7,823$7,449$7,095$6,759$6,439$6,226
6 years$6,454$6,083$5,734$5,405$5,095$4,889
7 years$5,476$5,109$4,765$4,444$4,144$3,946
8 years$4,743$4,379$4,041$3,728$3,438$3,248
9 years$4,174$3,813$3,480$3,175$2,895$2,713
10 years$3,718$3,361$3,034$2,737$2,467$2,292
11 years$3,346$2,992$2,671$2,382$2,121$1,955
12 years$3,035$2,685$2,371$2,089$1,838$1,679
13 years$2,773$2,427$2,118$1,845$1,603$1,452
14 years$2,549$2,206$1,903$1,637$1,405$1,261
15 years$2,354$2,015$1,718$1,460$1,237$1,100
16 years$2,184$1,849$1,558$1,308$1,094$963
17 years$2,034$1,703$1,418$1,175$970$846
18 years$1,901$1,573$1,294$1,059$862$745
19 years$1,782$1,458$1,185$957$768$657
20 years$1,676$1,355$1,087$866$686$581
21 years$1,579$1,262$1,000$786$614$515
22 years$1,491$1,178$922$715$551$457
23 years$1,411$1,102$851$651$494$406
24 years$1,338$1,032$787$594$444$361
25 years$1,271$969$729$542$400$321
26 years$1,209$911$676$496$360$286
27 years$1,152$857$628$454$325$255
28 years$1,099$808$584$416$293$228
29 years$1,049$762$543$381$264$204
30 years$1,004$719$506$350$239$182
31 years$961$680$472$321$216$163
32 years$921$644$440$295$195$145
33 years$883$609$411$272$177$130
34 years$848$578$384$250$160$116
35 years$814$548$359$230$145$104
36 years$783$520$336$212$131$93
37 years$753$494$314$195$119$84
38 years$726$469$294$180$108$75
39 years$699$446$276$166$98$67
40 years$674$425$258$153$89$60
41 years$650$404$242$141$81$54
42 years$628$385$227$130$73$48
43 years$606$367$213$120$66$43
44 years$586$350$200$111$60$39
45 years$566$333$188$103$55$35
46 years$548$318$177$95$50$31
47 years$530$303$166$88$45$28
48 years$513$290$156$81$41$25
49 years$497$277$147$75$37$23
50 years$481$264$138$69$34$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $493,000, adding $4,343 every year, while hoping to spend $31,612 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: 62/26/12 Blend
57$493,000$493,000$493,000$493,000
58$547,766$521,637$513,995$579,914
59$570,003$513,562$497,579$593,918
60$593,449$504,032$479,554$605,188
61$618,193$492,942$459,831$616,711
62$644,334$480,182$438,321$628,514
63$671,979$465,634$414,928$640,625
64$701,244$449,173$389,551$653,080
65$732,257$430,668$362,087$665,915
66$765,157$409,981$332,426$679,175
67$800,096$386,963$300,456$692,909
68$837,242$361,460$266,057$707,175
69$876,775$333,306$229,104$722,037
70$918,896$302,328$189,470$737,567
71$963,824$268,342$147,017$753,848
72$1,011,796$231,154$101,604$770,973
73$1,063,077$190,557$53,085$789,046
74$1,117,952$146,336$1,305$808,188
75$1,176,737$98,261$0$828,529
76$1,239,779$46,090$0$857,128
77$1,307,455$0$0$887,873
78$1,380,183$0$0$923,790
79$1,458,419$0$0$976,639
80$1,542,665$0$0$1,033,576
81$1,633,472$0$0$1,094,975
82$1,731,446$0$0$1,161,250
83$1,837,250$0$0$1,232,855
84$1,951,616$0$0$1,310,288
85$2,075,347$0$0$1,394,097
86$2,209,326$0$0$1,484,885
87$2,354,522$0$0$1,583,314
88$2,512,004$0$0$1,690,112
89$2,682,944$0$0$1,806,080
90$2,868,634$0$0$1,932,100
91$3,070,494$0$0$2,069,141
92$3,290,084$0$0$2,218,268
93$3,529,124$0$0$2,380,656
94$3,789,506$0$0$2,557,596
95$4,073,309$0$0$2,750,508
96$4,382,824$0$0$2,960,956
97$4,720,571$0$0$3,190,661
98$5,089,326$0$0$3,441,519
99$5,492,143$0$0$3,715,614
100$5,932,384$0$0$4,015,244