Can I retire at age 58 with 553,000?

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 $553,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$45,666$45,259$44,863$44,475$44,097$43,856
2 years$22,607$22,186$21,778$21,382$20,999$20,755
3 years$14,922$14,499$14,092$13,700$13,322$13,084
4 years$11,080$10,658$10,255$9,870$9,502$9,271
5 years$8,775$8,356$7,958$7,581$7,223$7,000
6 years$7,239$6,823$6,432$6,063$5,715$5,501
7 years$6,143$5,730$5,345$4,984$4,648$4,442
8 years$5,321$4,912$4,533$4,181$3,856$3,658
9 years$4,681$4,277$3,904$3,562$3,247$3,057
10 years$4,171$3,770$3,404$3,070$2,767$2,585
11 years$3,753$3,356$2,997$2,672$2,380$2,206
12 years$3,405$3,012$2,659$2,344$2,062$1,896
13 years$3,111$2,722$2,376$2,069$1,798$1,640
14 years$2,859$2,474$2,135$1,837$1,576$1,426
15 years$2,641$2,260$1,927$1,638$1,388$1,244
16 years$2,450$2,074$1,747$1,467$1,227$1,090
17 years$2,282$1,910$1,590$1,318$1,088$958
18 years$2,133$1,765$1,452$1,188$967$844
19 years$1,999$1,636$1,329$1,073$862$746
20 years$1,879$1,520$1,220$972$770$660
21 years$1,771$1,416$1,122$882$689$585
22 years$1,673$1,322$1,034$802$618$519
23 years$1,583$1,236$955$730$554$462
24 years$1,501$1,158$883$666$498$411
25 years$1,426$1,087$818$608$448$366
26 years$1,356$1,021$758$556$404$327
27 years$1,292$961$704$509$364$291
28 years$1,233$906$655$466$329$260
29 years$1,177$854$609$428$297$233
30 years$1,126$807$567$393$268$208
31 years$1,078$763$529$361$242$186
32 years$1,033$722$494$331$219$167
33 years$990$684$461$305$198$149
34 years$951$648$431$280$180$134
35 years$913$615$403$258$163$120
36 years$878$583$377$238$147$107
37 years$845$554$353$219$134$96
38 years$814$526$330$202$121$86
39 years$784$501$309$186$110$77
40 years$756$476$290$172$100$69
41 years$729$453$272$158$90$62
42 years$704$432$255$146$82$56
43 years$680$411$239$135$74$50
44 years$657$392$225$125$68$45
45 years$635$374$211$115$61$40
46 years$614$357$198$106$56$36
47 years$594$340$186$98$51$33
48 years$575$325$175$91$46$29
49 years$557$310$164$84$42$26
50 years$540$296$155$78$38$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $553,000, adding $4,779 every year, while hoping to spend $30,763 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: 65/21/14 Blend
57$553,000$553,000$553,000$553,000
58$614,336$585,027$576,455$651,931
59$644,266$580,961$563,035$673,594
60$676,219$575,666$548,134$693,243
61$710,367$569,047$531,670$713,949
62$746,901$561,007$513,558$735,816
63$786,030$551,442$493,707$758,957
64$827,983$540,241$472,024$783,498
65$873,012$527,286$448,411$809,579
66$921,391$512,455$422,765$837,356
67$973,424$495,617$394,979$867,002
68$1,029,443$476,632$364,940$898,707
69$1,089,813$455,353$332,532$932,684
70$1,154,934$431,626$297,633$969,169
71$1,225,248$405,287$260,114$1,008,421
72$1,301,238$376,160$219,842$1,050,731
73$1,383,435$344,063$176,679$1,096,419
74$1,472,426$308,802$130,477$1,145,840
75$1,568,851$270,172$81,086$1,199,386
76$1,673,419$227,955$28,347$1,257,495
77$1,786,905$181,922$0$1,320,647
78$1,910,165$131,832$0$1,393,551
79$2,044,139$77,429$0$1,477,414
80$2,189,861$18,443$0$1,568,680
81$2,348,470$0$0$1,668,099
82$2,521,216$0$0$1,786,997
83$2,709,479$0$0$1,921,252
84$2,914,774$0$0$2,067,689
85$3,138,770$0$0$2,227,503
86$3,383,304$0$0$2,402,008
87$3,650,400$0$0$2,592,652
88$3,942,281$0$0$2,801,030
89$4,261,400$0$0$3,028,896
90$4,610,455$0$0$3,278,182
91$4,992,417$0$0$3,551,017
92$5,410,558$0$0$3,849,742
93$5,868,480$0$0$4,176,937
94$6,370,150$0$0$4,535,444
95$6,919,937$0$0$4,928,390
96$7,522,654$0$0$5,359,223
97$8,183,600$0$0$5,831,737
98$8,908,612$0$0$6,350,113
99$9,704,119$0$0$6,918,954
100$10,577,203$0$0$7,543,333