Can I retire at age 58 with 551,000?

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 $551,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$45,501$45,096$44,700$44,314$43,938$43,406
2 years$22,525$22,106$21,699$21,305$20,923$20,388
3 years$14,868$14,446$14,041$13,650$13,274$12,753
4 years$11,040$10,620$10,218$9,834$9,467$8,963
5 years$8,743$8,326$7,930$7,554$7,197$6,712
6 years$7,213$6,799$6,408$6,041$5,695$5,229
7 years$6,120$5,710$5,325$4,966$4,631$4,185
8 years$5,301$4,894$4,516$4,166$3,842$3,415
9 years$4,665$4,261$3,890$3,549$3,236$2,828
10 years$4,155$3,756$3,391$3,059$2,757$2,368
11 years$3,739$3,344$2,986$2,662$2,371$2,001
12 years$3,393$3,001$2,650$2,335$2,055$1,703
13 years$3,099$2,712$2,367$2,062$1,792$1,457
14 years$2,848$2,465$2,127$1,830$1,571$1,254
15 years$2,631$2,252$1,920$1,632$1,383$1,083
16 years$2,441$2,066$1,741$1,461$1,222$938
17 years$2,274$1,903$1,584$1,313$1,084$815
18 years$2,125$1,758$1,446$1,183$964$710
19 years$1,992$1,630$1,324$1,069$859$620
20 years$1,873$1,514$1,215$968$767$543
21 years$1,765$1,411$1,118$879$686$475
22 years$1,667$1,317$1,030$799$615$417
23 years$1,577$1,232$951$728$552$366
24 years$1,496$1,154$880$664$496$322
25 years$1,421$1,083$815$606$447$283
26 years$1,351$1,018$756$554$402$249
27 years$1,287$958$702$507$363$220
28 years$1,228$903$652$465$327$194
29 years$1,173$851$607$426$296$171
30 years$1,122$804$565$391$267$151
31 years$1,074$760$527$359$241$133
32 years$1,029$719$492$330$218$118
33 years$987$681$459$304$198$104
34 years$947$646$429$279$179$92
35 years$910$612$401$257$162$81
36 years$875$581$375$237$147$72
37 years$842$552$351$218$133$64
38 years$811$525$329$201$121$56
39 years$781$499$308$185$109$50
40 years$753$475$289$171$99$44
41 years$727$452$271$158$90$39
42 years$702$430$254$146$82$34
43 years$678$410$238$134$74$31
44 years$655$391$224$124$67$27
45 years$633$373$210$115$61$24
46 years$612$355$197$106$55$21
47 years$592$339$185$98$50$19
48 years$573$324$174$90$46$17
49 years$555$309$164$84$42$15
50 years$538$295$154$77$38$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $551,000, adding $6,077 every year, while hoping to spend $45,622 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: 55/34/11 Blend
57$551,000$551,000$551,000$551,000
58$613,470$584,267$575,727$645,182
59$627,503$564,355$546,472$647,449
60$641,438$541,938$514,709$644,405
61$655,217$516,845$480,304$640,016
62$668,774$488,896$443,119$634,162
63$682,036$457,899$403,011$626,714
64$694,920$423,652$359,828$617,531
65$707,333$385,942$313,413$606,464
66$719,170$344,542$263,601$593,351
67$730,314$299,214$210,221$578,015
68$740,635$249,705$153,093$560,269
69$749,988$195,748$92,029$539,906
70$758,210$137,063$26,835$516,706
71$765,120$73,351$0$490,431
72$770,516$4,299$0$465,838
73$774,174$0$0$441,319
74$775,845$0$0$439,793
75$775,251$0$0$438,474
76$772,085$0$0$435,566
77$766,006$0$0$430,861
78$756,635$0$0$424,129
79$743,551$0$0$415,113
80$726,290$0$0$403,531
81$704,335$0$0$389,069
82$677,115$0$0$371,379
83$643,999$0$0$350,078
84$604,286$0$0$324,741
85$557,203$0$0$294,895
86$501,892$0$0$260,023
87$437,407$0$0$219,547
88$362,700$0$0$172,832
89$276,615$0$0$119,175
90$177,872$0$0$57,800
91$65,058$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0