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%17.6%
1 years$45,666$45,259$44,863$44,475$44,097$42,737
2 years$22,607$22,186$21,778$21,382$20,999$19,640
3 years$14,922$14,499$14,092$13,700$13,322$12,008
4 years$11,080$10,658$10,255$9,870$9,502$8,242
5 years$8,775$8,356$7,958$7,581$7,223$6,021
6 years$7,239$6,823$6,432$6,063$5,715$4,572
7 years$6,143$5,730$5,345$4,984$4,648$3,564
8 years$5,321$4,912$4,533$4,181$3,856$2,830
9 years$4,681$4,277$3,904$3,562$3,247$2,278
10 years$4,171$3,770$3,404$3,070$2,767$1,853
11 years$3,753$3,356$2,997$2,672$2,380$1,520
12 years$3,405$3,012$2,659$2,344$2,062$1,254
13 years$3,111$2,722$2,376$2,069$1,798$1,041
14 years$2,859$2,474$2,135$1,837$1,576$867
15 years$2,641$2,260$1,927$1,638$1,388$725
16 years$2,450$2,074$1,747$1,467$1,227$607
17 years$2,282$1,910$1,590$1,318$1,088$510
18 years$2,133$1,765$1,452$1,188$967$430
19 years$1,999$1,636$1,329$1,073$862$362
20 years$1,879$1,520$1,220$972$770$306
21 years$1,771$1,416$1,122$882$689$258
22 years$1,673$1,322$1,034$802$618$219
23 years$1,583$1,236$955$730$554$185
24 years$1,501$1,158$883$666$498$157
25 years$1,426$1,087$818$608$448$133
26 years$1,356$1,021$758$556$404$113
27 years$1,292$961$704$509$364$96
28 years$1,233$906$655$466$329$81
29 years$1,177$854$609$428$297$69
30 years$1,126$807$567$393$268$59
31 years$1,078$763$529$361$242$50
32 years$1,033$722$494$331$219$42
33 years$990$684$461$305$198$36
34 years$951$648$431$280$180$30
35 years$913$615$403$258$163$26
36 years$878$583$377$238$147$22
37 years$845$554$353$219$134$19
38 years$814$526$330$202$121$16
39 years$784$501$309$186$110$14
40 years$756$476$290$172$100$11
41 years$729$453$272$158$90$10
42 years$704$432$255$146$82$8
43 years$680$411$239$135$74$7
44 years$657$392$225$125$68$6
45 years$635$374$211$115$61$5
46 years$614$357$198$106$56$4
47 years$594$340$186$98$51$4
48 years$575$325$175$91$46$3
49 years$557$310$164$84$42$3
50 years$540$296$155$78$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $553,000, adding $4,881 every year, while hoping to spend $38,342 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: 61/14/25 Blend
57$553,000$553,000$553,000$553,000
58$614,441$585,132$576,560$647,551
59$636,318$573,008$555,079$658,476
60$659,142$559,004$531,594$665,794
61$682,968$542,989$505,996$672,947
62$707,857$524,822$478,174$679,927
63$733,875$504,355$448,008$686,726
64$761,092$481,430$415,378$693,337
65$789,584$455,880$380,154$699,753
66$819,434$427,531$342,202$705,970
67$850,733$396,197$301,382$711,984
68$883,577$361,679$257,548$717,795
69$918,072$323,772$210,546$723,404
70$954,333$282,255$160,217$728,815
71$992,486$236,896$106,395$734,034
72$1,032,666$187,450$48,906$739,072
73$1,075,021$133,658$0$743,945
74$1,119,712$75,247$0$751,991
75$1,166,915$11,927$0$774,052
76$1,216,823$0$0$797,155
77$1,269,644$0$0$830,111
78$1,325,606$0$0$866,994
79$1,384,961$0$0$906,134
80$1,447,980$0$0$947,713
81$1,514,962$0$0$991,932
82$1,586,234$0$0$1,039,009
83$1,662,154$0$0$1,089,184
84$1,743,112$0$0$1,142,719
85$1,829,537$0$0$1,199,901
86$1,921,899$0$0$1,261,046
87$2,020,714$0$0$1,326,498
88$2,126,545$0$0$1,396,636
89$2,240,013$0$0$1,471,876
90$2,361,795$0$0$1,552,672
91$2,492,638$0$0$1,639,526
92$2,633,361$0$0$1,732,986
93$2,784,861$0$0$1,833,655
94$2,948,125$0$0$1,942,196
95$3,124,238$0$0$2,059,335
96$3,314,389$0$0$2,185,872
97$3,519,887$0$0$2,322,685
98$3,742,170$0$0$2,470,739
99$3,982,818$0$0$2,631,095
100$4,243,569$0$0$2,804,921