Can I retire at age 58 with 503,000?

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 $503,000?

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$41,537$41,167$40,806$40,454$40,110$39,658
2 years$20,563$20,180$19,809$19,449$19,100$18,645
3 years$13,572$13,188$12,818$12,461$12,118$11,674
4 years$10,078$9,694$9,328$8,978$8,643$8,213
5 years$7,982$7,601$7,239$6,896$6,570$6,156
6 years$6,585$6,206$5,850$5,514$5,199$4,801
7 years$5,587$5,212$4,861$4,534$4,228$3,847
8 years$4,839$4,468$4,123$3,803$3,507$3,143
9 years$4,258$3,890$3,551$3,240$2,954$2,606
10 years$3,793$3,429$3,096$2,793$2,517$2,185
11 years$3,413$3,053$2,726$2,430$2,164$1,848
12 years$3,097$2,740$2,419$2,132$1,876$1,575
13 years$2,829$2,476$2,161$1,882$1,636$1,350
14 years$2,600$2,251$1,942$1,671$1,434$1,162
15 years$2,402$2,056$1,753$1,490$1,262$1,005
16 years$2,228$1,886$1,589$1,334$1,116$872
17 years$2,076$1,737$1,446$1,199$989$759
18 years$1,940$1,605$1,320$1,080$880$662
19 years$1,819$1,488$1,209$976$784$579
20 years$1,710$1,382$1,109$884$700$507
21 years$1,611$1,288$1,020$802$627$445
22 years$1,522$1,202$940$729$562$391
23 years$1,440$1,124$868$664$504$344
24 years$1,365$1,053$803$606$453$303
25 years$1,297$989$744$553$408$267
26 years$1,234$929$690$506$367$235
27 years$1,175$874$641$463$331$208
28 years$1,121$824$595$424$299$184
29 years$1,071$777$554$389$270$162
30 years$1,024$734$516$357$244$143
31 years$980$694$481$328$220$127
32 years$939$657$449$301$199$112
33 years$901$622$419$277$180$99
34 years$865$589$392$255$163$88
35 years$831$559$366$235$148$78
36 years$799$531$343$216$134$69
37 years$769$504$321$199$122$61
38 years$740$479$300$184$110$54
39 years$713$455$281$169$100$48
40 years$688$433$264$156$91$43
41 years$663$412$247$144$82$38
42 years$640$393$232$133$75$33
43 years$618$374$218$123$68$30
44 years$598$357$204$113$61$26
45 years$578$340$192$105$56$23
46 years$559$324$180$97$51$21
47 years$541$310$169$89$46$18
48 years$523$296$159$83$42$16
49 years$507$282$149$76$38$14
50 years$491$270$141$71$34$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $503,000, adding $3,265 every year, while hoping to spend $22,915 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: 60/33/7 Blend
57$503,000$503,000$503,000$503,000
58$557,674$531,015$523,218$590,139
59$590,175$532,653$516,365$613,912
60$625,224$533,604$508,514$636,909
61$663,055$533,809$499,607$661,412
62$703,928$533,207$489,585$687,569
63$748,127$531,732$478,385$715,540
64$795,964$529,316$465,940$745,503
65$847,785$525,884$452,181$777,655
66$903,966$521,360$437,036$812,213
67$964,923$515,659$420,429$849,420
68$1,031,114$508,695$402,282$889,540
69$1,103,041$500,374$382,511$932,868
70$1,181,257$490,598$361,031$979,730
71$1,266,370$479,263$337,751$1,030,485
72$1,359,051$466,258$312,577$1,085,531
73$1,460,036$451,467$285,411$1,145,309
74$1,570,137$434,765$256,148$1,210,303
75$1,690,244$416,022$224,683$1,281,050
76$1,821,341$395,099$190,901$1,358,145
77$1,964,508$371,849$154,687$1,442,243
78$2,120,936$346,118$115,918$1,534,069
79$2,291,936$317,742$74,465$1,634,422
80$2,478,949$286,548$30,196$1,744,188
81$2,683,565$252,351$0$1,864,343
82$2,907,532$214,960$0$1,997,239
83$3,152,776$174,169$0$2,145,286
84$3,421,419$129,763$0$2,307,552
85$3,715,795$81,513$0$2,485,504
86$4,038,478$29,178$0$2,680,757
87$4,392,300$0$0$2,895,099
88$4,780,382$0$0$3,140,483
89$5,206,160$0$0$3,421,368
90$5,673,420$0$0$3,729,660
91$6,186,331$0$0$4,068,117
92$6,749,488$0$0$4,439,774
93$7,367,950$0$0$4,847,977
94$8,047,290$0$0$5,296,410
95$8,793,649$0$0$5,789,132
96$9,613,791$0$0$6,330,615
97$10,515,168$0$0$6,925,786
98$11,505,989$0$0$7,580,071
99$12,595,300$0$0$8,299,451
100$13,793,065$0$0$9,090,514