Can I retire at age 58 with 550,000?

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 $550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$45,418$45,014$44,619$44,234$43,858$42,728
2 years$22,484$22,066$21,660$21,266$20,885$19,754
3 years$14,841$14,420$14,015$13,626$13,250$12,154
4 years$11,020$10,600$10,200$9,816$9,450$8,397
5 years$8,728$8,311$7,915$7,540$7,184$6,176
6 years$7,200$6,786$6,397$6,030$5,684$4,724
7 years$6,109$5,699$5,316$4,957$4,623$3,709
8 years$5,292$4,885$4,508$4,159$3,835$2,968
9 years$4,656$4,254$3,883$3,542$3,230$2,408
10 years$4,148$3,749$3,385$3,053$2,752$1,975
11 years$3,732$3,338$2,980$2,657$2,367$1,633
12 years$3,386$2,996$2,645$2,331$2,051$1,360
13 years$3,094$2,707$2,363$2,058$1,788$1,138
14 years$2,843$2,461$2,123$1,827$1,568$956
15 years$2,626$2,248$1,917$1,629$1,380$807
16 years$2,437$2,063$1,738$1,459$1,220$683
17 years$2,270$1,900$1,582$1,311$1,082$579
18 years$2,121$1,755$1,444$1,181$962$492
19 years$1,989$1,627$1,322$1,067$857$419
20 years$1,869$1,512$1,213$967$766$357
21 years$1,762$1,408$1,116$877$685$305
22 years$1,664$1,314$1,028$798$614$261
23 years$1,575$1,229$949$726$551$223
24 years$1,493$1,152$878$663$496$191
25 years$1,418$1,081$813$605$446$163
26 years$1,349$1,016$754$553$402$140
27 years$1,285$956$700$506$362$120
28 years$1,226$901$651$464$327$103
29 years$1,171$850$606$425$295$88
30 years$1,120$803$564$390$267$76
31 years$1,072$759$526$359$241$65
32 years$1,027$718$491$330$218$56
33 years$985$680$458$303$197$48
34 years$946$644$428$279$179$41
35 years$908$611$400$257$162$35
36 years$874$580$375$236$147$30
37 years$841$551$351$218$133$26
38 years$809$524$328$201$120$23
39 years$780$498$308$185$109$19
40 years$752$474$288$171$99$17
41 years$725$451$270$158$90$14
42 years$700$429$254$145$82$12
43 years$676$409$238$134$74$11
44 years$653$390$223$124$67$9
45 years$632$372$210$114$61$8
46 years$611$355$197$106$55$7
47 years$591$339$185$98$50$6
48 years$572$323$174$90$46$5
49 years$554$309$163$83$41$4
50 years$537$295$154$77$38$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $550,000, adding $4,382 every year, while hoping to spend $40,026 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: 65/29/6 Blend
57$550,000$550,000$550,000$550,000
58$610,620$581,470$572,945$649,431
59$630,316$567,375$549,551$661,688
60$650,679$551,247$524,032$669,897
61$671,736$532,946$496,275$677,805
62$693,513$512,320$466,160$685,380
63$716,039$489,212$433,564$692,586
64$739,344$463,452$398,358$699,385
65$763,460$434,864$360,405$705,738
66$788,419$403,259$319,565$711,603
67$814,258$368,438$275,691$716,935
68$841,013$330,192$228,627$721,688
69$868,723$288,299$178,213$725,813
70$897,431$242,523$124,281$729,258
71$927,180$192,618$66,656$731,967
72$958,017$138,321$5,153$733,885
73$989,992$79,355$0$734,950
74$1,023,157$15,430$0$738,972
75$1,057,569$0$0$742,616
76$1,093,287$0$0$762,652
77$1,130,376$0$0$788,574
78$1,168,904$0$0$815,506
79$1,208,943$0$0$843,500
80$1,250,571$0$0$872,611
81$1,293,873$0$0$902,898
82$1,338,937$0$0$934,424
83$1,385,861$0$0$967,259
84$1,434,746$0$0$1,001,474
85$1,485,705$0$0$1,037,150
86$1,538,857$0$0$1,074,370
87$1,594,332$0$0$1,113,227
88$1,652,268$0$0$1,153,820
89$1,712,816$0$0$1,196,255
90$1,776,138$0$0$1,240,647
91$1,842,410$0$0$1,287,123
92$1,911,823$0$0$1,335,817
93$1,984,583$0$0$1,386,876
94$2,060,914$0$0$1,440,459
95$2,141,058$0$0$1,496,739
96$2,225,280$0$0$1,555,905
97$2,313,867$0$0$1,618,161
98$2,407,129$0$0$1,683,728
99$2,505,409$0$0$1,752,850
100$2,609,074$0$0$1,825,789