Can I retire at age 58 with 516,000?

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 $516,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$42,611$42,231$41,861$41,499$41,147$40,234
2 years$21,094$20,702$20,321$19,952$19,594$18,679
3 years$13,923$13,529$13,149$12,783$12,431$11,542
4 years$10,338$9,945$9,569$9,210$8,866$8,011
5 years$8,188$7,797$7,426$7,074$6,740$5,920
6 years$6,755$6,367$6,001$5,657$5,333$4,550
7 years$5,732$5,347$4,987$4,651$4,337$3,591
8 years$4,965$4,583$4,229$3,902$3,598$2,888
9 years$4,368$3,991$3,643$3,323$3,030$2,356
10 years$3,891$3,517$3,176$2,865$2,582$1,943
11 years$3,502$3,131$2,796$2,493$2,220$1,616
12 years$3,177$2,811$2,481$2,187$1,924$1,353
13 years$2,903$2,540$2,217$1,931$1,678$1,140
14 years$2,668$2,309$1,992$1,714$1,471$964
15 years$2,464$2,109$1,798$1,528$1,295$818
16 years$2,286$1,935$1,631$1,369$1,145$697
17 years$2,129$1,782$1,484$1,230$1,015$595
18 years$1,990$1,647$1,354$1,108$902$509
19 years$1,866$1,526$1,240$1,001$804$436
20 years$1,754$1,418$1,138$907$718$375
21 years$1,653$1,321$1,047$823$643$322
22 years$1,561$1,233$965$748$576$277
23 years$1,477$1,153$891$682$517$239
24 years$1,401$1,081$824$622$465$206
25 years$1,330$1,014$763$568$418$178
26 years$1,266$953$708$519$377$153
27 years$1,206$897$657$475$340$132
28 years$1,150$845$611$435$307$114
29 years$1,098$797$568$399$277$99
30 years$1,050$753$529$366$250$85
31 years$1,005$712$494$336$226$74
32 years$963$674$461$309$205$64
33 years$924$638$430$284$185$55
34 years$887$605$402$262$168$48
35 years$852$573$376$241$152$41
36 years$820$544$351$222$138$36
37 years$789$517$329$204$125$31
38 years$759$491$308$188$113$27
39 years$732$467$289$174$102$23
40 years$705$444$270$160$93$20
41 years$681$423$254$148$84$17
42 years$657$403$238$136$77$15
43 years$634$384$223$126$69$13
44 years$613$366$210$116$63$11
45 years$593$349$197$107$57$10
46 years$573$333$185$99$52$9
47 years$555$318$174$92$47$7
48 years$537$303$163$85$43$6
49 years$520$290$153$78$39$6
50 years$504$277$144$72$35$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $516,000, adding $2,064 every year, while hoping to spend $30,641 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: 77/10/13 Blend
57$516,000$516,000$516,000$516,000
58$570,761$543,413$535,415$613,066
59$596,377$537,438$520,750$635,255
60$623,579$530,144$504,566$655,487
61$652,496$521,433$486,781$676,814
62$683,269$511,203$467,307$699,333
63$716,055$499,344$446,054$723,152
64$751,022$485,741$422,927$748,391
65$788,357$470,273$397,825$775,181
66$828,263$452,810$370,646$803,668
67$870,963$433,215$341,280$834,012
68$916,702$411,344$309,614$866,391
69$965,750$387,043$275,530$901,000
70$1,018,399$360,152$238,903$938,056
71$1,074,975$330,498$199,605$977,799
72$1,135,831$297,901$157,501$1,020,493
73$1,201,358$262,170$112,449$1,066,428
74$1,271,983$223,103$64,303$1,115,929
75$1,348,176$180,486$12,908$1,169,350
76$1,430,455$134,094$0$1,227,085
77$1,519,386$83,690$0$1,295,386
78$1,615,593$29,020$0$1,371,203
79$1,719,762$0$0$1,453,299
80$1,832,647$0$0$1,545,603
81$1,955,076$0$0$1,649,191
82$2,087,961$0$0$1,761,642
83$2,232,305$0$0$1,883,806
84$2,389,210$0$0$2,016,618
85$2,559,890$0$0$2,161,109
86$2,745,678$0$0$2,318,410
87$2,948,045$0$0$2,489,767
88$3,168,605$0$0$2,676,550
89$3,409,139$0$0$2,880,270
90$3,671,603$0$0$3,102,587
91$3,958,152$0$0$3,345,329
92$4,271,159$0$0$3,610,508
93$4,613,234$0$0$3,900,340
94$4,987,253$0$0$4,217,264
95$5,396,382$0$0$4,563,965
96$5,844,105$0$0$4,943,401
97$6,334,261$0$0$5,358,828
98$6,871,076$0$0$5,813,831
99$7,459,203$0$0$6,312,359
100$8,103,768$0$0$6,858,761