Can I retire at age 58 with 512,000?

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 $512,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$42,280$41,904$41,536$41,178$40,828$40,570
2 years$20,931$20,541$20,163$19,797$19,442$19,182
3 years$13,815$13,424$13,047$12,684$12,335$12,081
4 years$10,258$9,868$9,495$9,138$8,797$8,551
5 years$8,125$7,737$7,368$7,019$6,687$6,450
6 years$6,703$6,318$5,955$5,613$5,292$5,063
7 years$5,687$5,305$4,948$4,615$4,303$4,084
8 years$4,926$4,548$4,197$3,871$3,570$3,359
9 years$4,334$3,960$3,615$3,298$3,007$2,804
10 years$3,861$3,490$3,151$2,842$2,562$2,368
11 years$3,475$3,107$2,774$2,474$2,203$2,018
12 years$3,152$2,789$2,462$2,170$1,909$1,733
13 years$2,880$2,520$2,200$1,916$1,665$1,497
14 years$2,647$2,291$1,977$1,701$1,459$1,299
15 years$2,445$2,093$1,785$1,517$1,285$1,133
16 years$2,268$1,920$1,618$1,358$1,136$991
17 years$2,113$1,768$1,472$1,220$1,007$870
18 years$1,975$1,634$1,344$1,100$895$765
19 years$1,851$1,514$1,230$994$798$675
20 years$1,740$1,407$1,129$900$713$597
21 years$1,640$1,311$1,039$817$638$528
22 years$1,549$1,224$957$743$572$468
23 years$1,466$1,144$884$676$513$416
24 years$1,390$1,072$817$617$461$369
25 years$1,320$1,006$757$563$415$329
26 years$1,256$946$702$515$374$293
27 years$1,196$890$652$471$337$261
28 years$1,141$839$606$432$304$232
29 years$1,090$791$564$396$275$207
30 years$1,042$747$525$363$248$185
31 years$998$706$490$334$224$165
32 years$956$668$457$307$203$148
33 years$917$633$427$282$184$132
34 years$880$600$399$260$166$118
35 years$846$569$373$239$151$106
36 years$813$540$349$220$136$95
37 years$782$513$326$203$124$85
38 years$753$487$306$187$112$76
39 years$726$463$286$172$102$68
40 years$700$441$268$159$92$61
41 years$675$420$252$147$84$54
42 years$652$400$236$135$76$49
43 years$630$381$222$125$69$44
44 years$608$363$208$115$63$39
45 years$588$346$195$107$57$35
46 years$569$330$183$98$52$31
47 years$550$315$172$91$47$28
48 years$533$301$162$84$43$25
49 years$516$287$152$78$39$23
50 years$500$274$143$72$35$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $512,000, adding $5,527 every year, while hoping to spend $21,012 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: 51/21/28 Blend
57$512,000$512,000$512,000$512,000
58$569,925$542,789$534,853$594,247
59$605,701$547,029$530,414$616,015
60$644,422$550,773$525,122$637,121
61$686,365$553,973$518,926$659,658
62$731,838$556,582$511,774$683,773
63$781,176$558,545$503,609$709,627
64$834,749$559,807$494,373$737,399
65$892,965$560,308$484,006$767,286
66$956,270$559,986$472,442$799,509
67$1,025,157$558,773$459,617$834,309
68$1,100,168$556,598$445,459$871,955
69$1,181,899$553,385$429,896$912,745
70$1,271,007$549,055$412,852$957,008
71$1,368,213$543,522$394,245$1,005,108
72$1,474,312$536,696$373,994$1,057,447
73$1,590,179$528,482$352,011$1,114,471
74$1,716,778$518,778$328,203$1,176,673
75$1,855,169$507,477$302,477$1,244,597
76$2,006,518$494,466$274,733$1,318,847
77$2,172,112$479,624$244,865$1,400,087
78$2,353,366$462,824$212,767$1,489,054
79$2,551,839$443,931$178,324$1,586,562
80$2,769,246$422,803$141,417$1,693,508
81$3,007,478$399,289$101,923$1,810,888
82$3,268,616$373,230$59,713$1,939,797
83$3,554,953$344,457$14,652$2,081,449
84$3,869,014$312,791$0$2,237,182
85$4,213,580$278,044$0$2,418,466
86$4,591,715$240,018$0$2,622,265
87$5,006,792$198,501$0$2,846,047
88$5,462,529$153,272$0$3,091,852
89$5,963,020$104,096$0$3,361,928
90$6,512,776$50,724$0$3,658,755
91$7,116,764$0$0$3,985,069
92$7,780,460$0$0$4,345,525
93$8,509,893$0$0$4,754,623
94$9,311,706$0$0$5,204,373
95$10,193,220$0$0$5,698,888
96$11,162,496$0$0$6,242,699
97$12,228,421$0$0$6,840,798
98$13,400,781$0$0$7,498,685
99$14,690,362$0$0$8,222,421
100$16,109,044$0$0$9,018,683