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%15.7%
1 years$45,501$45,096$44,700$44,314$43,938$42,910
2 years$22,525$22,106$21,699$21,305$20,923$19,893
3 years$14,868$14,446$14,041$13,650$13,274$12,275
4 years$11,040$10,620$10,218$9,834$9,467$8,506
5 years$8,743$8,326$7,930$7,554$7,197$6,277
6 years$7,213$6,799$6,408$6,041$5,695$4,816
7 years$6,120$5,710$5,325$4,966$4,631$3,794
8 years$5,301$4,894$4,516$4,166$3,842$3,047
9 years$4,665$4,261$3,890$3,549$3,236$2,481
10 years$4,155$3,756$3,391$3,059$2,757$2,042
11 years$3,739$3,344$2,986$2,662$2,371$1,695
12 years$3,393$3,001$2,650$2,335$2,055$1,417
13 years$3,099$2,712$2,367$2,062$1,792$1,191
14 years$2,848$2,465$2,127$1,830$1,571$1,005
15 years$2,631$2,252$1,920$1,632$1,383$851
16 years$2,441$2,066$1,741$1,461$1,222$723
17 years$2,274$1,903$1,584$1,313$1,084$616
18 years$2,125$1,758$1,446$1,183$964$526
19 years$1,992$1,630$1,324$1,069$859$450
20 years$1,873$1,514$1,215$968$767$385
21 years$1,765$1,411$1,118$879$686$331
22 years$1,667$1,317$1,030$799$615$284
23 years$1,577$1,232$951$728$552$244
24 years$1,496$1,154$880$664$496$210
25 years$1,421$1,083$815$606$447$181
26 years$1,351$1,018$756$554$402$155
27 years$1,287$958$702$507$363$134
28 years$1,228$903$652$465$327$115
29 years$1,173$851$607$426$296$100
30 years$1,122$804$565$391$267$86
31 years$1,074$760$527$359$241$74
32 years$1,029$719$492$330$218$64
33 years$987$681$459$304$198$55
34 years$947$646$429$279$179$48
35 years$910$612$401$257$162$41
36 years$875$581$375$237$147$36
37 years$842$552$351$218$133$31
38 years$811$525$329$201$121$27
39 years$781$499$308$185$109$23
40 years$753$475$289$171$99$20
41 years$727$452$271$158$90$17
42 years$702$430$254$146$82$15
43 years$678$410$238$134$74$13
44 years$655$391$224$124$67$11
45 years$633$373$210$115$61$10
46 years$612$355$197$106$55$8
47 years$592$339$185$98$50$7
48 years$573$324$174$90$46$6
49 years$555$309$164$84$42$5
50 years$538$295$154$77$38$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $551,000, adding $5,362 every year, while hoping to spend $23,300 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: 66/29/5 Blend
57$551,000$551,000$551,000$551,000
58$612,733$583,530$574,989$652,421
59$650,441$587,332$569,461$683,240
60$691,214$590,539$562,966$713,600
61$735,340$593,098$555,447$746,151
62$783,136$594,952$546,847$781,103
63$834,951$596,039$537,101$818,687
64$891,166$596,295$526,144$859,159
65$952,204$595,652$513,908$902,801
66$1,018,527$594,037$500,322$949,924
67$1,090,644$591,373$485,311$1,000,871
68$1,169,117$587,577$468,796$1,056,021
69$1,254,561$582,563$450,695$1,115,791
70$1,347,656$576,238$430,923$1,180,644
71$1,449,148$568,505$409,390$1,251,088
72$1,559,860$559,260$386,003$1,327,683
73$1,680,695$548,393$360,663$1,411,051
74$1,812,650$535,789$333,270$1,501,875
75$1,956,821$521,323$303,715$1,600,909
76$2,114,414$504,866$271,887$1,708,986
77$2,286,759$486,279$237,670$1,827,023
78$2,475,319$465,416$200,942$1,956,035
79$2,681,704$442,124$161,576$2,097,140
80$2,907,688$416,239$119,439$2,251,572
81$3,155,224$387,587$74,393$2,420,691
82$3,426,465$355,986$26,292$2,605,999
83$3,723,778$321,243$0$2,809,153
84$4,049,773$283,154$0$3,033,316
85$4,407,324$241,502$0$3,280,753
86$4,799,596$196,061$0$3,552,292
87$5,230,076$146,589$0$3,850,396
88$5,702,604$92,832$0$4,177,780
89$6,221,410$34,521$0$4,537,440
90$6,791,154$0$0$4,932,678
91$7,416,970$0$0$5,376,273
92$8,104,512$0$0$5,875,762
93$8,860,010$0$0$6,424,658
94$9,690,328$0$0$7,027,954
95$10,603,025$0$0$7,691,146
96$11,606,433$0$0$8,420,294
97$12,709,728$0$0$9,222,072
98$13,923,022$0$0$10,103,833
99$15,257,454$0$0$11,073,678
100$16,725,298$0$0$12,140,534