Can I retire at age 58 with 502,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $502,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$41,455$41,085$40,725$40,374$40,030$39,629
2 years$20,522$20,140$19,770$19,410$19,062$18,658
3 years$13,546$13,162$12,792$12,436$12,094$11,699
4 years$10,058$9,675$9,309$8,960$8,625$8,243
5 years$7,966$7,585$7,224$6,882$6,557$6,189
6 years$6,572$6,194$5,838$5,504$5,188$4,834
7 years$5,576$5,202$4,852$4,525$4,219$3,880
8 years$4,830$4,459$4,115$3,796$3,500$3,175
9 years$4,250$3,882$3,544$3,233$2,948$2,637
10 years$3,786$3,422$3,090$2,787$2,512$2,215
11 years$3,407$3,046$2,720$2,425$2,160$1,877
12 years$3,091$2,734$2,414$2,127$1,872$1,603
13 years$2,824$2,471$2,157$1,878$1,632$1,376
14 years$2,595$2,246$1,938$1,667$1,431$1,188
15 years$2,397$2,052$1,750$1,487$1,260$1,029
16 years$2,224$1,883$1,586$1,331$1,114$895
17 years$2,071$1,734$1,443$1,196$987$781
18 years$1,936$1,602$1,318$1,078$878$683
19 years$1,815$1,485$1,206$974$782$598
20 years$1,706$1,380$1,107$882$699$525
21 years$1,608$1,285$1,018$801$625$462
22 years$1,519$1,200$939$728$561$407
23 years$1,437$1,122$867$663$503$358
24 years$1,363$1,051$801$605$452$316
25 years$1,294$987$742$552$407$279
26 years$1,231$927$688$505$367$247
27 years$1,173$873$639$462$331$219
28 years$1,119$822$594$423$298$194
29 years$1,069$776$553$388$269$171
30 years$1,022$733$515$356$243$152
31 years$978$693$480$327$220$135
32 years$937$655$448$301$199$119
33 years$899$621$418$277$180$106
34 years$863$588$391$255$163$94
35 years$829$558$365$234$148$84
36 years$797$529$342$216$134$74
37 years$767$503$320$199$121$66
38 years$739$478$300$183$110$59
39 years$712$454$281$169$100$52
40 years$686$432$263$156$90$46
41 years$662$412$247$144$82$41
42 years$639$392$231$133$74$37
43 years$617$373$217$122$68$32
44 years$596$356$204$113$61$29
45 years$577$339$191$104$56$26
46 years$558$324$180$96$51$23
47 years$540$309$169$89$46$20
48 years$522$295$159$82$42$18
49 years$506$282$149$76$38$16
50 years$490$269$140$70$34$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $502,000, adding $5,494 every year, while hoping to spend $37,741 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: 63/24/13 Blend
57$502,000$502,000$502,000$502,000
58$558,871$532,265$524,484$592,016
59$575,720$518,190$501,898$600,819
60$593,022$502,160$477,291$605,591
61$610,785$484,040$450,554$609,874
62$629,013$463,687$421,576$613,619
63$647,712$440,947$390,239$616,778
64$666,887$415,662$356,420$619,296
65$686,541$387,660$319,991$621,115
66$706,675$356,763$280,818$622,174
67$727,292$322,780$238,761$622,408
68$748,390$285,511$193,674$621,745
69$769,968$244,743$145,405$620,112
70$792,023$200,253$93,793$617,427
71$814,547$151,804$38,674$613,604
72$837,534$99,145$0$608,553
73$860,973$42,014$0$604,970
74$884,849$0$0$605,861
75$909,147$0$0$611,019
76$933,846$0$0$627,531
77$958,920$0$0$644,284
78$984,342$0$0$661,257
79$1,010,077$0$0$678,427
80$1,036,084$0$0$695,764
81$1,062,318$0$0$713,235
82$1,088,725$0$0$730,803
83$1,115,245$0$0$748,426
84$1,141,807$0$0$766,052
85$1,168,331$0$0$783,627
86$1,194,728$0$0$801,088
87$1,220,895$0$0$818,361
88$1,246,717$0$0$835,366
89$1,272,063$0$0$852,012
90$1,296,787$0$0$868,197
91$1,320,725$0$0$883,804
92$1,343,691$0$0$898,706
93$1,365,481$0$0$912,757
94$1,385,862$0$0$925,796
95$1,404,576$0$0$937,644
96$1,421,336$0$0$948,099
97$1,435,821$0$0$956,937
98$1,447,673$0$0$963,908
99$1,456,493$0$0$968,735
100$1,461,840$0$0$971,110