Can I retire at age 58 with 494,000?

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 $494,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$40,794$40,431$40,076$39,730$39,392$39,193
2 years$20,195$19,819$19,454$19,101$18,758$18,557
3 years$13,330$12,952$12,588$12,238$11,901$11,705
4 years$9,898$9,521$9,161$8,817$8,488$8,297
5 years$7,839$7,465$7,109$6,772$6,452$6,268
6 years$6,467$6,095$5,745$5,416$5,106$4,928
7 years$5,487$5,119$4,774$4,453$4,152$3,982
8 years$4,753$4,388$4,049$3,735$3,445$3,281
9 years$4,182$3,820$3,488$3,182$2,901$2,744
10 years$3,726$3,368$3,040$2,743$2,472$2,321
11 years$3,352$2,998$2,677$2,387$2,126$1,982
12 years$3,042$2,691$2,376$2,094$1,842$1,705
13 years$2,779$2,432$2,122$1,848$1,606$1,475
14 years$2,554$2,210$1,907$1,641$1,408$1,283
15 years$2,359$2,019$1,722$1,463$1,240$1,121
16 years$2,189$1,853$1,561$1,310$1,096$983
17 years$2,038$1,706$1,420$1,177$972$864
18 years$1,905$1,577$1,297$1,061$864$762
19 years$1,786$1,461$1,187$959$770$674
20 years$1,679$1,358$1,089$868$688$597
21 years$1,582$1,265$1,002$788$615$529
22 years$1,494$1,181$924$716$552$470
23 years$1,414$1,104$853$652$495$418
24 years$1,341$1,034$789$595$445$373
25 years$1,274$971$730$543$401$332
26 years$1,212$912$677$497$361$297
27 years$1,154$859$629$455$325$265
28 years$1,101$809$585$417$294$237
29 years$1,052$763$544$382$265$212
30 years$1,006$721$507$351$239$190
31 years$963$681$473$322$217$170
32 years$922$645$441$296$196$152
33 years$885$611$412$272$177$136
34 years$849$579$385$250$160$122
35 years$816$549$360$231$145$110
36 years$785$521$336$212$132$98
37 years$755$495$315$196$119$88
38 years$727$470$295$180$108$79
39 years$700$447$276$166$98$71
40 years$675$425$259$153$89$64
41 years$652$405$243$141$81$57
42 years$629$386$228$131$73$51
43 years$607$368$214$121$66$46
44 years$587$350$201$111$60$41
45 years$567$334$188$103$55$37
46 years$549$319$177$95$50$33
47 years$531$304$166$88$45$30
48 years$514$290$156$81$41$27
49 years$498$277$147$75$37$24
50 years$482$265$138$69$34$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $494,000, adding $5,705 every year, while hoping to spend $22,040 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: 59/36/5 Blend
57$494,000$494,000$494,000$494,000
58$550,273$524,091$516,434$581,913
59$582,950$526,321$510,284$606,015
60$618,222$527,921$503,189$629,245
61$656,330$528,839$495,095$654,010
62$697,538$529,015$485,944$680,460
63$742,139$528,389$475,675$708,756
64$790,454$526,896$464,226$739,080
65$842,833$524,467$451,531$771,631
66$899,666$521,030$437,521$806,632
67$961,378$516,506$422,124$844,324
68$1,028,438$510,814$405,265$884,980
69$1,101,361$503,866$386,864$928,896
70$1,180,715$495,571$366,839$976,403
71$1,267,124$485,831$345,104$1,027,866
72$1,361,276$474,541$321,570$1,083,687
73$1,463,925$461,593$296,142$1,144,311
74$1,575,904$446,869$268,721$1,210,232
75$1,698,129$430,249$239,206$1,281,991
76$1,831,607$411,600$207,488$1,360,191
77$1,977,449$390,786$173,457$1,445,495
78$2,136,875$367,661$136,995$1,538,637
79$2,311,232$342,072$97,979$1,640,426
80$2,501,999$313,855$56,283$1,751,758
81$2,710,808$282,839$11,773$1,873,621
82$2,939,453$248,841$0$2,007,106
83$3,189,914$211,670$0$2,155,326
84$3,464,366$171,123$0$2,318,501
85$3,765,208$126,985$0$2,497,479
86$4,095,081$79,030$0$2,693,892
87$4,456,896$27,018$0$2,909,542
88$4,853,854$0$0$3,146,417
89$5,289,487$0$0$3,418,318
90$5,767,682$0$0$3,728,576
91$6,292,720$0$0$4,069,269
92$6,869,319$0$0$4,443,465
93$7,502,676$0$0$4,854,542
94$8,198,515$0$0$5,306,221
95$8,963,142$0$0$5,802,601
96$9,803,505$0$0$6,348,199
97$10,727,258$0$0$6,947,991
98$11,742,834$0$0$7,607,458
99$12,859,522$0$0$8,332,640
100$14,087,558$0$0$9,130,191