Can I retire at age 58 with 495,000?

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 $495,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$40,877$40,513$40,157$39,811$39,472$38,378
2 years$20,236$19,859$19,494$19,140$18,796$17,702
3 years$13,357$12,978$12,614$12,263$11,925$10,865
4 years$9,918$9,540$9,180$8,835$8,505$7,487
5 years$7,855$7,480$7,124$6,786$6,465$5,493
6 years$6,480$6,108$5,757$5,427$5,116$4,189
7 years$5,498$5,129$4,784$4,462$4,161$3,280
8 years$4,763$4,397$4,057$3,743$3,452$2,617
9 years$4,190$3,828$3,495$3,188$2,907$2,117
10 years$3,733$3,374$3,047$2,748$2,477$1,731
11 years$3,359$3,004$2,682$2,392$2,130$1,427
12 years$3,048$2,696$2,380$2,098$1,846$1,184
13 years$2,784$2,437$2,127$1,852$1,610$987
14 years$2,559$2,215$1,911$1,644$1,411$827
15 years$2,364$2,023$1,725$1,466$1,242$695
16 years$2,193$1,856$1,564$1,313$1,098$586
17 years$2,043$1,710$1,423$1,180$974$495
18 years$1,909$1,580$1,299$1,063$866$420
19 years$1,790$1,464$1,189$961$772$356
20 years$1,682$1,360$1,092$870$689$302
21 years$1,585$1,267$1,004$790$617$257
22 years$1,497$1,183$925$718$553$219
23 years$1,417$1,106$854$654$496$186
24 years$1,344$1,037$790$596$446$159
25 years$1,276$973$732$545$401$136
26 years$1,214$914$679$498$362$116
27 years$1,157$860$630$456$326$99
28 years$1,103$811$586$418$294$84
29 years$1,054$765$545$383$266$72
30 years$1,008$722$508$351$240$62
31 years$965$683$474$323$217$53
32 years$924$646$442$297$196$45
33 years$886$612$413$273$178$39
34 years$851$580$385$251$161$33
35 years$818$550$360$231$146$28
36 years$786$522$337$213$132$24
37 years$756$496$316$196$120$21
38 years$728$471$295$181$108$18
39 years$702$448$277$167$98$15
40 years$677$426$259$154$89$13
41 years$653$406$243$142$81$11
42 years$630$386$228$131$73$9
43 years$609$368$214$121$67$8
44 years$588$351$201$112$60$7
45 years$569$335$189$103$55$6
46 years$550$319$177$95$50$5
47 years$532$305$167$88$45$4
48 years$515$291$157$81$41$4
49 years$499$278$147$75$37$3
50 years$483$265$138$69$34$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $495,000, adding $3,098 every year, while hoping to spend $35,444 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: 51/27/22 Blend
57$495,000$495,000$495,000$495,000
58$548,686$522,451$514,778$573,159
59$566,939$510,339$494,311$578,305
60$585,867$496,445$471,970$580,014
61$605,500$480,645$447,656$581,134
62$625,872$462,808$421,263$581,622
63$647,018$442,792$392,682$581,433
64$668,975$420,451$361,799$580,522
65$691,786$395,628$328,494$578,840
66$715,492$368,158$292,643$576,335
67$740,140$337,865$254,114$572,955
68$765,780$304,566$212,772$568,644
69$792,464$268,065$168,475$563,346
70$820,251$228,155$121,075$556,999
71$849,201$184,619$70,415$549,541
72$879,380$137,226$16,335$540,908
73$910,860$85,733$0$531,033
74$943,716$29,883$0$529,558
75$978,033$0$0$531,423
76$1,013,899$0$0$541,847
77$1,051,410$0$0$562,048
78$1,090,671$0$0$583,204
79$1,131,796$0$0$605,379
80$1,174,906$0$0$628,641
81$1,220,135$0$0$653,062
82$1,267,628$0$0$678,725
83$1,317,540$0$0$705,714
84$1,370,043$0$0$734,127
85$1,425,321$0$0$764,065
86$1,483,577$0$0$795,640
87$1,545,031$0$0$828,977
88$1,609,922$0$0$864,207
89$1,678,512$0$0$901,477
90$1,751,087$0$0$940,946
91$1,827,956$0$0$982,787
92$1,909,462$0$0$1,027,191
93$1,995,975$0$0$1,074,366
94$2,087,903$0$0$1,124,538
95$2,185,690$0$0$1,177,955
96$2,289,823$0$0$1,234,891
97$2,400,835$0$0$1,295,643
98$2,519,311$0$0$1,360,538
99$2,645,888$0$0$1,429,933
100$2,781,270$0$0$1,504,221