Can I retire at age 58 with 514,000?

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 $514,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$42,446$42,068$41,699$41,339$40,987$40,712
2 years$21,013$20,621$20,242$19,874$19,518$19,240
3 years$13,869$13,476$13,098$12,734$12,383$12,111
4 years$10,298$9,906$9,532$9,174$8,832$8,568
5 years$8,156$7,767$7,397$7,046$6,714$6,460
6 years$6,729$6,342$5,978$5,635$5,312$5,068
7 years$5,709$5,326$4,968$4,633$4,320$4,085
8 years$4,945$4,566$4,213$3,886$3,584$3,359
9 years$4,351$3,975$3,629$3,310$3,018$2,802
10 years$3,876$3,504$3,164$2,854$2,572$2,365
11 years$3,488$3,119$2,785$2,483$2,212$2,014
12 years$3,165$2,800$2,472$2,178$1,917$1,728
13 years$2,891$2,530$2,208$1,923$1,671$1,492
14 years$2,657$2,300$1,984$1,707$1,465$1,294
15 years$2,454$2,101$1,791$1,522$1,290$1,128
16 years$2,277$1,928$1,624$1,363$1,140$986
17 years$2,121$1,775$1,478$1,225$1,011$865
18 years$1,982$1,640$1,349$1,104$899$760
19 years$1,858$1,520$1,235$997$801$670
20 years$1,747$1,413$1,134$903$716$592
21 years$1,646$1,316$1,043$820$640$523
22 years$1,555$1,228$961$745$574$464
23 years$1,472$1,149$887$679$515$411
24 years$1,395$1,076$821$619$463$365
25 years$1,325$1,010$760$565$417$325
26 years$1,261$949$705$517$375$289
27 years$1,201$893$655$473$338$257
28 years$1,146$842$608$434$305$229
29 years$1,094$794$566$398$276$204
30 years$1,046$750$527$365$249$182
31 years$1,002$709$492$335$225$163
32 years$960$671$459$308$204$145
33 years$920$635$428$283$184$130
34 years$884$602$400$261$167$116
35 years$849$571$374$240$151$104
36 years$816$542$350$221$137$93
37 years$786$515$328$204$124$83
38 years$756$489$307$188$113$74
39 years$729$465$287$173$102$66
40 years$703$443$269$160$93$59
41 years$678$421$253$147$84$53
42 years$654$401$237$136$76$47
43 years$632$382$222$125$69$43
44 years$611$364$209$116$63$38
45 years$590$348$196$107$57$34
46 years$571$332$184$99$52$31
47 years$553$316$173$91$47$27
48 years$535$302$163$84$43$24
49 years$518$288$153$78$39$22
50 years$502$276$144$72$35$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $514,000, adding $5,258 every year, while hoping to spend $27,746 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: 84/10/6 Blend
57$514,000$514,000$514,000$514,000
58$571,852$544,610$536,643$619,256
59$600,659$541,774$525,099$648,145
60$631,475$537,869$512,238$675,549
61$664,474$532,814$497,987$704,771
62$699,851$526,522$482,270$735,975
63$737,815$518,901$465,005$769,343
64$778,598$509,854$446,109$805,072
65$822,456$499,277$425,495$843,383
66$869,667$487,062$403,069$884,517
67$920,538$473,093$378,737$928,740
68$975,406$457,248$352,398$976,345
69$1,034,642$439,397$323,947$1,027,655
70$1,098,651$419,404$293,275$1,083,026
71$1,167,881$397,122$260,268$1,142,848
72$1,242,824$372,400$224,806$1,207,553
73$1,324,019$345,075$186,764$1,277,617
74$1,412,060$314,975$146,012$1,353,564
75$1,507,601$281,919$102,414$1,435,970
76$1,611,360$245,716$55,828$1,525,472
77$1,724,126$206,164$6,105$1,622,771
78$1,846,770$163,049$0$1,728,640
79$1,980,246$116,144$0$1,846,936
80$2,125,608$65,212$0$1,976,205
81$2,284,014$10,001$0$2,117,101
82$2,456,737$0$0$2,270,775
83$2,645,180$0$0$2,443,971
84$2,850,886$0$0$2,634,244
85$3,075,556$0$0$2,842,066
86$3,321,059$0$0$3,069,169
87$3,589,455$0$0$3,317,458
88$3,883,011$0$0$3,589,032
89$4,204,224$0$0$3,886,203
90$4,555,843$0$0$4,211,514
91$4,940,894$0$0$4,567,768
92$5,362,712$0$0$4,958,050
93$5,824,968$0$0$5,385,759
94$6,331,705$0$0$5,854,636
95$6,887,375$0$0$6,368,804
96$7,496,884$0$0$6,932,803
97$8,165,632$0$0$7,551,633
98$8,899,572$0$0$8,230,801
99$9,705,256$0$0$8,976,375
100$10,589,904$0$0$9,795,037