Can I retire at age 58 with 496,000?

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 $496,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$40,959$40,594$40,238$39,891$39,552$39,237
2 years$20,277$19,899$19,533$19,178$18,834$18,517
3 years$13,384$13,004$12,639$12,288$11,949$11,639
4 years$9,938$9,560$9,198$8,853$8,522$8,222
5 years$7,871$7,495$7,138$6,800$6,478$6,189
6 years$6,493$6,120$5,769$5,438$5,126$4,847
7 years$5,510$5,140$4,794$4,471$4,169$3,901
8 years$4,772$4,406$4,066$3,750$3,459$3,202
9 years$4,199$3,836$3,502$3,194$2,913$2,667
10 years$3,741$3,381$3,053$2,754$2,482$2,247
11 years$3,366$3,010$2,688$2,397$2,134$1,910
12 years$3,054$2,702$2,385$2,102$1,850$1,636
13 years$2,790$2,441$2,131$1,856$1,613$1,409
14 years$2,564$2,219$1,915$1,647$1,414$1,220
15 years$2,368$2,027$1,729$1,469$1,245$1,061
16 years$2,197$1,860$1,567$1,315$1,100$926
17 years$2,047$1,713$1,426$1,182$976$810
18 years$1,913$1,583$1,302$1,065$867$711
19 years$1,793$1,467$1,192$962$773$625
20 years$1,686$1,363$1,094$872$691$551
21 years$1,589$1,270$1,006$791$618$486
22 years$1,500$1,185$927$719$554$430
23 years$1,420$1,109$856$655$497$380
24 years$1,346$1,039$792$597$447$337
25 years$1,279$975$733$546$402$299
26 years$1,216$916$680$499$362$265
27 years$1,159$862$632$457$327$236
28 years$1,105$812$587$418$295$209
29 years$1,056$766$546$384$266$186
30 years$1,010$724$509$352$240$166
31 years$966$684$475$323$217$148
32 years$926$647$443$297$197$131
33 years$888$613$413$273$178$117
34 years$853$581$386$251$161$104
35 years$819$551$361$231$146$93
36 years$788$523$338$213$132$83
37 years$758$497$316$196$120$74
38 years$730$472$296$181$109$66
39 years$703$449$277$167$99$59
40 years$678$427$260$154$89$53
41 years$654$407$244$142$81$47
42 years$631$387$229$131$74$42
43 years$610$369$215$121$67$37
44 years$589$352$201$112$61$33
45 years$570$335$189$103$55$30
46 years$551$320$178$95$50$27
47 years$533$305$167$88$45$24
48 years$516$291$157$81$41$21
49 years$500$278$147$75$37$19
50 years$484$266$139$70$34$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $496,000, adding $3,120 every year, while hoping to spend $25,405 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: 42/34/24 Blend
57$496,000$496,000$496,000$496,000
58$549,810$523,522$515,834$568,924
59$578,860$522,144$506,084$581,502
60$610,022$519,847$495,156$592,453
61$643,483$516,559$482,983$603,807
62$679,452$512,204$469,496$615,618
63$718,156$506,701$454,624$627,943
64$759,843$499,965$438,289$640,848
65$804,787$491,904$420,412$654,408
66$853,291$482,422$400,911$668,708
67$905,684$471,418$379,699$683,843
68$962,330$458,784$356,685$699,920
69$1,023,628$444,405$331,774$717,060
70$1,090,017$428,160$304,868$735,399
71$1,161,981$409,921$275,863$755,088
72$1,240,049$389,554$244,651$776,298
73$1,324,806$366,914$211,119$799,221
74$1,416,894$341,851$175,149$824,071
75$1,517,019$314,203$136,618$851,086
76$1,625,958$283,802$95,398$880,535
77$1,744,567$250,469$51,354$912,716
78$1,873,785$214,015$4,347$947,963
79$2,014,649$174,239$0$986,646
80$2,168,298$130,931$0$1,040,915
81$2,335,985$83,868$0$1,101,447
82$2,519,092$32,815$0$1,167,683
83$2,719,139$0$0$1,240,239
84$2,937,798$0$0$1,328,203
85$3,176,911$0$0$1,437,881
86$3,438,507$0$0$1,557,933
87$3,724,818$0$0$1,689,393
88$4,038,304$0$0$1,833,397
89$4,381,673$0$0$1,991,197
90$4,757,906$0$0$2,164,173
91$5,170,288$0$0$2,353,844
92$5,622,436$0$0$2,561,882
93$6,118,333$0$0$2,790,130
94$6,662,368$0$0$3,040,619
95$7,259,373$0$0$3,315,582
96$7,914,672$0$0$3,617,484
97$8,634,130$0$0$3,949,037
98$9,424,205$0$0$4,313,229
99$10,292,013$0$0$4,713,352
100$11,245,395$0$0$5,153,034