Can I retire at age 58 with 541,000?

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 $541,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$44,675$44,277$43,889$43,510$43,140$42,886
2 years$22,116$21,705$21,305$20,918$20,543$20,287
3 years$14,598$14,184$13,786$13,403$13,033$12,783
4 years$10,839$10,427$10,033$9,656$9,295$9,053
5 years$8,585$8,175$7,786$7,417$7,066$6,832
6 years$7,082$6,675$6,292$5,931$5,591$5,365
7 years$6,009$5,606$5,229$4,876$4,547$4,330
8 years$5,205$4,805$4,434$4,091$3,772$3,564
9 years$4,580$4,184$3,819$3,484$3,177$2,977
10 years$4,080$3,688$3,330$3,003$2,707$2,516
11 years$3,671$3,283$2,931$2,614$2,328$2,145
12 years$3,331$2,947$2,602$2,293$2,017$1,843
13 years$3,043$2,663$2,324$2,024$1,759$1,593
14 years$2,797$2,421$2,088$1,797$1,542$1,384
15 years$2,583$2,211$1,886$1,602$1,358$1,207
16 years$2,397$2,029$1,710$1,435$1,200$1,057
17 years$2,232$1,868$1,556$1,289$1,064$928
18 years$2,086$1,727$1,420$1,162$946$817
19 years$1,956$1,600$1,300$1,050$843$721
20 years$1,839$1,487$1,193$951$753$638
21 years$1,733$1,385$1,097$863$674$565
22 years$1,637$1,293$1,011$785$604$501
23 years$1,549$1,209$934$715$542$445
24 years$1,469$1,133$864$652$487$396
25 years$1,395$1,063$800$595$439$353
26 years$1,327$999$742$544$395$314
27 years$1,264$940$689$498$356$280
28 years$1,206$886$640$456$321$250
29 years$1,152$836$596$419$290$223
30 years$1,101$789$555$384$262$200
31 years$1,054$746$518$353$237$178
32 years$1,010$706$483$324$214$160
33 years$969$669$451$298$194$143
34 years$930$634$421$274$176$128
35 years$894$601$394$253$159$114
36 years$859$571$368$233$144$102
37 years$827$542$345$214$131$92
38 years$796$515$323$197$119$82
39 years$767$490$303$182$107$74
40 years$740$466$284$168$97$66
41 years$714$444$266$155$88$59
42 years$689$422$249$143$80$53
43 years$665$402$234$132$73$48
44 years$643$384$220$122$66$43
45 years$621$366$206$113$60$38
46 years$601$349$194$104$54$34
47 years$582$333$182$96$49$31
48 years$563$318$171$89$45$28
49 years$545$304$161$82$41$25
50 years$528$290$151$76$37$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $541,000, adding $2,146 every year, while hoping to spend $32,378 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: 39/38/23 Blend
57$541,000$541,000$541,000$541,000
58$598,396$569,723$561,337$617,568
59$624,982$563,189$545,692$625,094
60$653,195$555,250$528,438$630,025
61$683,166$545,803$509,486$634,710
62$715,040$534,738$488,744$639,144
63$748,974$521,940$466,117$643,327
64$785,141$507,287$441,504$647,260
65$823,730$490,648$414,798$650,947
66$864,947$471,887$385,891$654,398
67$909,021$450,858$354,667$657,625
68$956,199$427,408$321,007$660,644
69$1,006,755$401,375$284,784$663,479
70$1,060,988$372,586$245,868$666,159
71$1,119,226$340,860$204,122$668,719
72$1,181,830$306,005$159,403$671,205
73$1,249,195$267,818$111,562$673,671
74$1,321,757$226,085$60,443$676,180
75$1,399,991$180,579$5,883$678,810
76$1,484,424$131,060$0$681,648
77$1,575,630$77,277$0$697,647
78$1,674,242$18,962$0$716,458
79$1,780,957$0$0$736,822
80$1,896,539$0$0$777,417
81$2,021,829$0$0$830,077
82$2,157,751$0$0$887,269
83$2,305,323$0$0$949,430
84$2,465,663$0$0$1,017,038
85$2,640,001$0$0$1,090,622
86$2,829,691$0$0$1,170,761
87$3,036,223$0$0$1,258,095
88$3,261,234$0$0$1,353,325
89$3,506,530$0$0$1,457,227
90$3,774,094$0$0$1,570,652
91$4,066,111$0$0$1,694,537
92$4,384,987$0$0$1,829,914
93$4,733,368$0$0$1,977,919
94$5,114,168$0$0$2,139,803
95$5,530,598$0$0$2,316,944
96$5,986,189$0$0$2,510,858
97$6,484,831$0$0$2,723,215
98$7,030,809$0$0$2,955,855
99$7,628,839$0$0$3,210,802
100$8,284,116$0$0$3,490,287