Can I retire at age 58 with 506,000?

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 $506,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$41,785$41,413$41,050$40,695$40,349$39,042
2 years$20,686$20,300$19,927$19,565$19,214$17,909
3 years$13,653$13,267$12,894$12,535$12,190$10,929
4 years$10,138$9,752$9,384$9,031$8,694$7,486
5 years$8,029$7,646$7,282$6,937$6,609$5,457
6 years$6,624$6,243$5,885$5,547$5,230$4,135
7 years$5,621$5,243$4,890$4,561$4,253$3,216
8 years$4,868$4,494$4,147$3,826$3,528$2,547
9 years$4,284$3,913$3,572$3,259$2,971$2,046
10 years$3,816$3,449$3,114$2,809$2,532$1,660
11 years$3,434$3,071$2,742$2,445$2,177$1,358
12 years$3,115$2,756$2,433$2,144$1,887$1,118
13 years$2,846$2,491$2,174$1,893$1,645$925
14 years$2,616$2,264$1,953$1,681$1,442$768
15 years$2,416$2,068$1,764$1,499$1,270$640
16 years$2,242$1,898$1,599$1,342$1,122$535
17 years$2,088$1,748$1,455$1,206$995$448
18 years$1,951$1,615$1,328$1,087$885$376
19 years$1,829$1,497$1,216$982$789$316
20 years$1,720$1,391$1,116$889$704$266
21 years$1,621$1,295$1,026$807$630$224
22 years$1,531$1,209$946$734$565$189
23 years$1,449$1,131$873$668$507$160
24 years$1,374$1,060$808$610$456$135
25 years$1,305$994$748$557$410$114
26 years$1,241$935$694$509$370$96
27 years$1,182$880$644$466$333$81
28 years$1,128$829$599$427$301$69
29 years$1,077$782$557$391$271$58
30 years$1,030$738$519$359$245$49
31 years$986$698$484$330$222$42
32 years$945$660$452$303$201$35
33 years$906$625$422$279$182$30
34 years$870$593$394$257$164$25
35 years$836$562$368$236$149$21
36 years$804$534$345$218$135$18
37 years$773$507$323$200$122$15
38 years$745$482$302$185$111$13
39 years$717$458$283$170$101$11
40 years$692$436$265$157$91$9
41 years$667$415$249$145$83$8
42 years$644$395$233$134$75$7
43 years$622$376$219$123$68$6
44 years$601$359$205$114$62$5
45 years$581$342$193$105$56$4
46 years$562$326$181$97$51$3
47 years$544$312$170$90$46$3
48 years$527$297$160$83$42$2
49 years$510$284$150$77$38$2
50 years$494$271$141$71$35$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $506,000, adding $3,131 every year, while hoping to spend $28,805 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: 56/26/18 Blend
57$506,000$506,000$506,000$506,000
58$560,842$534,024$526,181$589,396
59$587,399$529,542$513,159$604,712
60$615,700$523,876$498,737$618,022
61$645,892$516,937$482,835$631,879
62$678,136$508,630$465,373$646,341
63$712,610$498,856$446,267$661,476
64$749,507$487,511$425,427$677,358
65$789,040$474,483$402,762$694,070
66$831,443$459,653$378,175$711,707
67$876,971$442,897$351,565$730,374
68$925,905$424,082$322,827$750,189
69$978,555$403,070$291,849$771,284
70$1,035,259$379,711$258,517$793,805
71$1,096,388$353,850$222,710$817,918
72$1,162,352$325,321$184,303$843,806
73$1,233,600$293,950$143,165$871,674
74$1,310,624$259,550$99,158$901,752
75$1,393,968$221,928$52,140$934,294
76$1,484,227$180,877$1,961$969,584
77$1,582,056$136,178$0$1,007,938
78$1,688,177$87,602$0$1,059,616
79$1,803,382$34,906$0$1,116,147
80$1,928,543$0$0$1,177,622
81$2,064,619$0$0$1,250,901
82$2,212,664$0$0$1,341,532
83$2,373,840$0$0$1,440,242
84$2,549,423$0$0$1,547,820
85$2,740,820$0$0$1,665,132
86$2,949,576$0$0$1,793,132
87$3,177,396$0$0$1,932,870
88$3,426,152$0$0$2,085,502
89$3,697,909$0$0$2,252,299
90$3,994,936$0$0$2,434,664
91$4,319,736$0$0$2,634,137
92$4,675,060$0$0$2,852,418
93$5,063,941$0$0$3,091,375
94$5,489,717$0$0$3,353,069
95$5,956,063$0$0$3,639,766
96$6,467,028$0$0$3,953,964
97$7,027,070$0$0$4,298,412
98$7,641,099$0$0$4,676,141
99$8,314,523$0$0$5,090,485
100$9,053,298$0$0$5,545,120