Can I retire at age 58 with 531,000?

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 $531,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$43,849$43,459$43,078$42,706$42,343$42,164
2 years$21,708$21,303$20,912$20,532$20,163$19,983
3 years$14,328$13,922$13,531$13,155$12,792$12,616
4 years$10,639$10,234$9,847$9,477$9,124$8,953
5 years$8,426$8,024$7,642$7,279$6,936$6,770
6 years$6,951$6,552$6,176$5,821$5,488$5,329
7 years$5,898$5,502$5,132$4,786$4,463$4,310
8 years$5,109$4,716$4,352$4,015$3,703$3,555
9 years$4,495$4,107$3,749$3,420$3,118$2,977
10 years$4,005$3,620$3,268$2,948$2,657$2,521
11 years$3,603$3,222$2,877$2,566$2,285$2,155
12 years$3,269$2,892$2,554$2,250$1,980$1,856
13 years$2,987$2,614$2,281$1,987$1,727$1,609
14 years$2,745$2,376$2,050$1,764$1,514$1,401
15 years$2,536$2,170$1,851$1,573$1,333$1,226
16 years$2,353$1,991$1,678$1,408$1,178$1,076
17 years$2,191$1,834$1,527$1,265$1,044$947
18 years$2,048$1,695$1,394$1,140$929$837
19 years$1,920$1,571$1,276$1,030$828$741
20 years$1,805$1,459$1,171$933$739$657
21 years$1,701$1,359$1,077$847$662$583
22 years$1,606$1,269$993$770$593$519
23 years$1,520$1,187$917$701$532$463
24 years$1,441$1,112$848$640$478$413
25 years$1,369$1,044$785$584$431$369
26 years$1,302$981$728$534$388$329
27 years$1,241$923$676$489$350$295
28 years$1,183$870$629$448$315$264
29 years$1,130$821$585$411$285$236
30 years$1,081$775$545$377$257$212
31 years$1,035$733$508$346$233$190
32 years$991$693$474$318$211$170
33 years$951$656$443$293$191$153
34 years$913$622$413$269$172$137
35 years$877$590$387$248$156$123
36 years$843$560$362$228$142$111
37 years$812$532$338$210$128$100
38 years$781$506$317$194$116$90
39 years$753$481$297$179$105$81
40 years$726$457$278$165$96$72
41 years$700$435$261$152$87$65
42 years$676$415$245$140$79$59
43 years$653$395$230$130$71$53
44 years$631$377$216$120$65$47
45 years$610$359$202$110$59$43
46 years$590$343$190$102$53$38
47 years$571$327$179$94$49$35
48 years$553$312$168$87$44$31
49 years$535$298$158$81$40$28
50 years$518$285$148$74$36$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $531,000, adding $2,463 every year, while hoping to spend $42,020 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: 53/42/5 Blend
57$531,000$531,000$531,000$531,000
58$587,703$559,560$551,329$618,080
59$602,939$542,269$525,090$621,612
60$618,322$522,723$496,563$620,618
61$633,821$500,766$465,628$618,509
62$649,402$476,236$432,158$615,186
63$665,027$448,957$396,021$610,544
64$680,651$418,747$357,079$604,469
65$696,225$385,413$315,188$596,839
66$711,690$348,749$270,198$587,523
67$726,983$308,538$221,950$576,380
68$742,032$264,553$170,282$563,257
69$756,753$216,550$115,020$547,993
70$771,055$164,275$55,987$530,411
71$784,836$107,457$0$510,323
72$797,978$45,812$0$487,900
73$810,354$0$0$465,761
74$821,818$0$0$450,379
75$832,208$0$0$455,515
76$841,346$0$0$459,890
77$849,029$0$0$463,385
78$855,034$0$0$465,869
79$859,114$0$0$467,195
80$860,991$0$0$467,202
81$860,358$0$0$465,709
82$856,874$0$0$462,515
83$850,160$0$0$457,399
84$839,798$0$0$450,113
85$825,320$0$0$440,386
86$806,211$0$0$427,913
87$781,900$0$0$412,360
88$751,753$0$0$393,356
89$715,068$0$0$370,491
90$671,071$0$0$343,308
91$618,903$0$0$311,307
92$557,615$0$0$273,930
93$486,155$0$0$230,564
94$403,365$0$0$180,528
95$307,959$0$0$123,071
96$198,522$0$0$57,363
97$73,484$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0