Can I retire at age 58 with 551,000?

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 $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%11.7%
1 years$45,501$45,096$44,700$44,314$43,938$43,624
2 years$22,525$22,106$21,699$21,305$20,923$20,607
3 years$14,868$14,446$14,041$13,650$13,274$12,965
4 years$11,040$10,620$10,218$9,834$9,467$9,168
5 years$8,743$8,326$7,930$7,554$7,197$6,908
6 years$7,213$6,799$6,408$6,041$5,695$5,416
7 years$6,120$5,710$5,325$4,966$4,631$4,364
8 years$5,301$4,894$4,516$4,166$3,842$3,586
9 years$4,665$4,261$3,890$3,549$3,236$2,990
10 years$4,155$3,756$3,391$3,059$2,757$2,522
11 years$3,739$3,344$2,986$2,662$2,371$2,147
12 years$3,393$3,001$2,650$2,335$2,055$1,841
13 years$3,099$2,712$2,367$2,062$1,792$1,588
14 years$2,848$2,465$2,127$1,830$1,571$1,377
15 years$2,631$2,252$1,920$1,632$1,383$1,199
16 years$2,441$2,066$1,741$1,461$1,222$1,047
17 years$2,274$1,903$1,584$1,313$1,084$918
18 years$2,125$1,758$1,446$1,183$964$807
19 years$1,992$1,630$1,324$1,069$859$710
20 years$1,873$1,514$1,215$968$767$627
21 years$1,765$1,411$1,118$879$686$554
22 years$1,667$1,317$1,030$799$615$490
23 years$1,577$1,232$951$728$552$435
24 years$1,496$1,154$880$664$496$386
25 years$1,421$1,083$815$606$447$343
26 years$1,351$1,018$756$554$402$305
27 years$1,287$958$702$507$363$271
28 years$1,228$903$652$465$327$241
29 years$1,173$851$607$426$296$215
30 years$1,122$804$565$391$267$192
31 years$1,074$760$527$359$241$171
32 years$1,029$719$492$330$218$152
33 years$987$681$459$304$198$136
34 years$947$646$429$279$179$121
35 years$910$612$401$257$162$108
36 years$875$581$375$237$147$97
37 years$842$552$351$218$133$87
38 years$811$525$329$201$121$77
39 years$781$499$308$185$109$69
40 years$753$475$289$171$99$62
41 years$727$452$271$158$90$55
42 years$702$430$254$146$82$49
43 years$678$410$238$134$74$44
44 years$655$391$224$124$67$40
45 years$633$373$210$115$61$35
46 years$612$355$197$106$55$32
47 years$592$339$185$98$50$28
48 years$573$324$174$90$46$25
49 years$555$309$164$84$42$23
50 years$538$295$154$77$38$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $551,000, adding $4,878 every year, while hoping to spend $26,849 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: 61/24/15 Blend
57$551,000$551,000$551,000$551,000
58$612,234$583,031$574,490$647,002
59$646,114$583,032$565,168$670,987
60$682,551$582,134$554,635$693,693
61$721,776$580,263$542,820$717,831
62$764,045$577,343$529,651$743,544
63$809,637$573,293$515,055$770,988
64$858,861$568,025$498,950$800,335
65$912,055$561,449$481,255$831,777
66$969,591$553,466$461,883$865,526
67$1,031,877$543,974$440,745$901,818
68$1,099,364$532,864$417,745$940,912
69$1,172,544$520,019$392,784$983,097
70$1,251,962$505,319$365,761$1,028,690
71$1,338,215$488,632$336,567$1,078,043
72$1,431,960$469,822$305,089$1,131,548
73$1,533,920$448,743$271,209$1,189,635
74$1,644,891$425,243$234,806$1,252,782
75$1,765,748$399,158$195,750$1,321,516
76$1,897,454$370,317$153,908$1,396,421
77$2,041,070$338,538$109,140$1,478,142
78$2,197,762$303,629$61,299$1,567,393
79$2,368,815$265,388$10,233$1,664,962
80$2,555,642$223,600$0$1,771,721
81$2,759,799$178,038$0$1,895,718
82$2,983,000$128,463$0$2,033,142
83$3,227,130$74,622$0$2,183,557
84$3,494,268$16,250$0$2,348,293
85$3,786,700$0$0$2,528,815
86$4,106,945$0$0$2,739,138
87$4,457,776$0$0$2,974,291
88$4,842,247$0$0$3,232,038
89$5,263,722$0$0$3,514,636
90$5,725,905$0$0$3,824,578
91$6,232,878$0$0$4,164,604
92$6,789,135$0$0$4,537,735
93$7,399,625$0$0$4,947,298
94$8,069,803$0$0$5,396,958
95$8,805,674$0$0$5,890,752
96$9,613,856$0$0$6,433,127
97$10,501,637$0$0$7,028,982
98$11,477,048$0$0$7,683,714
99$12,548,934$0$0$8,403,269
100$13,727,042$0$0$9,194,197