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%12.7%
1 years$40,959$40,594$40,238$39,891$39,552$39,106
2 years$20,277$19,899$19,533$19,178$18,834$18,386
3 years$13,384$13,004$12,639$12,288$11,949$11,512
4 years$9,938$9,560$9,198$8,853$8,522$8,099
5 years$7,871$7,495$7,138$6,800$6,478$6,071
6 years$6,493$6,120$5,769$5,438$5,126$4,734
7 years$5,510$5,140$4,794$4,471$4,169$3,793
8 years$4,772$4,406$4,066$3,750$3,459$3,099
9 years$4,199$3,836$3,502$3,194$2,913$2,569
10 years$3,741$3,381$3,053$2,754$2,482$2,154
11 years$3,366$3,010$2,688$2,397$2,134$1,822
12 years$3,054$2,702$2,385$2,102$1,850$1,553
13 years$2,790$2,441$2,131$1,856$1,613$1,331
14 years$2,564$2,219$1,915$1,647$1,414$1,146
15 years$2,368$2,027$1,729$1,469$1,245$991
16 years$2,197$1,860$1,567$1,315$1,100$860
17 years$2,047$1,713$1,426$1,182$976$749
18 years$1,913$1,583$1,302$1,065$867$653
19 years$1,793$1,467$1,192$962$773$571
20 years$1,686$1,363$1,094$872$691$500
21 years$1,589$1,270$1,006$791$618$439
22 years$1,500$1,185$927$719$554$386
23 years$1,420$1,109$856$655$497$339
24 years$1,346$1,039$792$597$447$299
25 years$1,279$975$733$546$402$263
26 years$1,216$916$680$499$362$232
27 years$1,159$862$632$457$327$205
28 years$1,105$812$587$418$295$181
29 years$1,056$766$546$384$266$160
30 years$1,010$724$509$352$240$141
31 years$966$684$475$323$217$125
32 years$926$647$443$297$197$111
33 years$888$613$413$273$178$98
34 years$853$581$386$251$161$87
35 years$819$551$361$231$146$77
36 years$788$523$338$213$132$68
37 years$758$497$316$196$120$60
38 years$730$472$296$181$109$53
39 years$703$449$277$167$99$47
40 years$678$427$260$154$89$42
41 years$654$407$244$142$81$37
42 years$631$387$229$131$74$33
43 years$610$369$215$121$67$29
44 years$589$352$201$112$61$26
45 years$570$335$189$103$55$23
46 years$551$320$178$95$50$20
47 years$533$305$167$88$45$18
48 years$516$291$157$81$41$16
49 years$500$278$147$75$37$14
50 years$484$266$139$70$34$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $496,000, adding $5,973 every year, while hoping to spend $37,462 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: 31/47/22 Blend
57$496,000$496,000$496,000$496,000
58$552,753$526,465$518,777$565,967
59$569,275$512,403$496,297$562,421
60$586,226$496,396$471,808$554,829
61$603,611$478,309$445,204$545,882
62$621,433$458,000$416,372$535,486
63$639,696$435,318$385,197$523,539
64$658,399$410,104$351,555$509,936
65$677,545$382,187$315,321$494,565
66$697,130$351,391$276,361$477,307
67$717,154$317,525$234,535$458,038
68$737,611$280,391$189,699$436,623
69$758,494$239,777$141,701$412,924
70$779,796$195,461$90,383$386,790
71$801,504$147,208$35,580$358,064
72$823,605$94,769$0$326,581
73$846,081$37,881$0$297,540
74$868,911$0$0$274,642
75$892,071$0$0$261,646
76$915,531$0$0$268,302
77$939,256$0$0$275,007
78$963,207$0$0$281,744
79$987,338$0$0$288,498
80$1,011,595$0$0$295,247
81$1,035,919$0$0$301,971
82$1,060,239$0$0$308,644
83$1,084,478$0$0$315,238
84$1,108,546$0$0$321,720
85$1,132,343$0$0$328,054
86$1,155,755$0$0$334,201
87$1,178,654$0$0$340,114
88$1,200,897$0$0$345,742
89$1,222,322$0$0$351,029
90$1,242,749$0$0$355,912
91$1,261,975$0$0$360,318
92$1,279,776$0$0$364,169
93$1,295,898$0$0$367,376
94$1,310,060$0$0$369,841
95$1,321,949$0$0$371,455
96$1,331,217$0$0$372,096
97$1,337,474$0$0$371,630
98$1,340,289$0$0$369,905
99$1,339,183$0$0$366,757
100$1,333,622$0$0$361,999