Can I retire at age 58 with 554,000?

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 $554,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$45,749$45,341$44,944$44,556$44,177$43,991
2 years$22,648$22,226$21,817$21,421$21,037$20,849
3 years$14,949$14,525$14,117$13,725$13,346$13,163
4 years$11,100$10,677$10,274$9,888$9,519$9,340
5 years$8,791$8,371$7,973$7,595$7,236$7,064
6 years$7,252$6,836$6,443$6,074$5,726$5,559
7 years$6,154$5,741$5,354$4,993$4,656$4,497
8 years$5,330$4,921$4,541$4,189$3,863$3,709
9 years$4,690$4,284$3,911$3,568$3,253$3,106
10 years$4,178$3,777$3,410$3,076$2,772$2,631
11 years$3,760$3,362$3,002$2,677$2,384$2,249
12 years$3,411$3,018$2,664$2,348$2,066$1,937
13 years$3,116$2,727$2,380$2,073$1,801$1,678
14 years$2,864$2,479$2,139$1,840$1,579$1,462
15 years$2,645$2,264$1,931$1,641$1,390$1,279
16 years$2,454$2,078$1,751$1,469$1,229$1,122
17 years$2,286$1,913$1,593$1,320$1,090$989
18 years$2,137$1,768$1,454$1,190$969$873
19 years$2,003$1,639$1,331$1,075$864$773
20 years$1,883$1,523$1,222$974$771$685
21 years$1,774$1,418$1,124$884$690$609
22 years$1,676$1,324$1,036$803$619$542
23 years$1,586$1,238$956$732$555$483
24 years$1,504$1,160$884$667$499$431
25 years$1,428$1,089$819$609$449$384
26 years$1,359$1,023$760$557$405$344
27 years$1,294$963$705$510$365$307
28 years$1,235$907$656$467$329$275
29 years$1,179$856$610$429$297$247
30 years$1,128$808$568$393$269$221
31 years$1,080$764$530$361$243$198
32 years$1,034$723$494$332$220$178
33 years$992$685$462$305$199$160
34 years$952$649$431$281$180$143
35 years$915$616$403$259$163$129
36 years$880$584$377$238$148$116
37 years$847$555$353$219$134$104
38 years$815$527$331$202$121$93
39 years$786$502$310$186$110$84
40 years$757$477$290$172$100$76
41 years$731$454$272$159$91$68
42 years$705$433$255$146$82$61
43 years$681$412$240$135$75$55
44 years$658$393$225$125$68$50
45 years$636$375$211$115$61$45
46 years$615$357$198$106$56$40
47 years$596$341$186$98$51$36
48 years$577$326$175$91$46$33
49 years$558$311$165$84$42$29
50 years$541$297$155$78$38$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $554,000, adding $3,421 every year, while hoping to spend $26,278 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: 62/23/15 Blend
57$554,000$554,000$554,000$554,000
58$614,037$584,675$576,088$649,626
59$648,709$585,364$567,427$674,644
60$686,037$585,207$557,596$698,656
61$726,264$584,133$546,526$724,238
62$769,657$582,070$534,149$751,543
63$816,509$578,939$520,391$780,743
64$867,144$574,657$505,174$812,026
65$921,915$569,137$488,419$845,601
66$981,211$562,286$470,043$881,697
67$1,045,461$554,005$449,956$920,570
68$1,115,137$544,190$428,068$962,504
69$1,190,754$532,729$404,282$1,007,809
70$1,272,884$519,505$378,498$1,056,831
71$1,362,152$504,395$350,612$1,109,952
72$1,459,248$487,267$320,513$1,167,595
73$1,564,930$467,981$288,089$1,230,226
74$1,680,031$446,391$253,218$1,298,361
75$1,805,470$422,340$215,777$1,372,571
76$1,942,258$395,664$175,635$1,453,486
77$2,091,506$366,189$132,657$1,541,802
78$2,254,437$333,730$86,699$1,638,290
79$2,432,401$298,094$37,614$1,743,800
80$2,626,878$259,073$0$1,859,273
81$2,839,503$216,451$0$1,988,110
82$3,072,074$169,998$0$2,135,672
83$3,326,569$119,472$0$2,297,227
84$3,605,169$64,616$0$2,474,203
85$3,910,274$5,160$0$2,668,173
86$4,244,527$0$0$2,880,875
87$4,610,838$0$0$3,129,203
88$5,012,415$0$0$3,402,912
89$5,452,788$0$0$3,703,106
90$5,935,845$0$0$4,032,443
91$6,465,871$0$0$4,393,848
92$7,047,583$0$0$4,790,545
93$7,686,180$0$0$5,226,083
94$8,387,385$0$0$5,704,374
95$9,157,505$0$0$6,229,724
96$10,003,487$0$0$6,806,881
97$10,932,985$0$0$7,441,073
98$11,954,430$0$0$8,138,058
99$13,077,110$0$0$8,904,183
100$14,311,258$0$0$9,746,438