Can I retire at age 58 with 555,000?

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 $555,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$45,831$45,423$45,025$44,636$44,256$43,813
2 years$22,689$22,266$21,857$21,460$21,075$20,627
3 years$14,976$14,551$14,143$13,749$13,371$12,934
4 years$11,120$10,697$10,292$9,906$9,536$9,114
5 years$8,807$8,386$7,987$7,609$7,249$6,842
6 years$7,265$6,848$6,455$6,085$5,736$5,345
7 years$6,165$5,751$5,364$5,002$4,665$4,289
8 years$5,340$4,930$4,549$4,196$3,870$3,510
9 years$4,698$4,292$3,918$3,574$3,259$2,915
10 years$4,186$3,783$3,416$3,081$2,777$2,449
11 years$3,766$3,368$3,007$2,682$2,388$2,075
12 years$3,417$3,023$2,669$2,352$2,070$1,772
13 years$3,122$2,732$2,385$2,077$1,805$1,522
14 years$2,869$2,483$2,143$1,843$1,582$1,313
15 years$2,650$2,268$1,934$1,644$1,393$1,138
16 years$2,459$2,081$1,754$1,472$1,231$990
17 years$2,290$1,917$1,596$1,323$1,092$863
18 years$2,140$1,771$1,457$1,192$971$755
19 years$2,007$1,642$1,334$1,077$865$661
20 years$1,886$1,525$1,224$975$773$580
21 years$1,778$1,421$1,126$885$691$510
22 years$1,679$1,326$1,038$805$620$449
23 years$1,589$1,240$958$733$556$396
24 years$1,507$1,162$886$669$500$350
25 years$1,431$1,091$821$611$450$309
26 years$1,361$1,025$761$558$405$273
27 years$1,297$965$707$511$365$242
28 years$1,237$909$657$468$330$214
29 years$1,181$858$611$429$298$190
30 years$1,130$810$570$394$269$168
31 years$1,081$766$531$362$243$149
32 years$1,036$724$495$333$220$132
33 years$994$686$463$306$199$117
34 years$954$650$432$281$180$104
35 years$917$617$404$259$163$92
36 years$881$585$378$239$148$82
37 years$848$556$354$220$134$73
38 years$817$528$331$203$122$65
39 years$787$502$310$187$110$58
40 years$759$478$291$172$100$51
41 years$732$455$273$159$91$45
42 years$707$433$256$147$82$40
43 years$682$413$240$135$75$36
44 years$659$394$225$125$68$32
45 years$637$375$212$115$62$28
46 years$617$358$199$107$56$25
47 years$597$342$187$99$51$22
48 years$578$326$175$91$46$20
49 years$559$311$165$84$42$18
50 years$542$298$155$78$38$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $555,000, adding $3,678 every year, while hoping to spend $34,930 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: 85/9/6 Blend
57$555,000$555,000$555,000$555,000
58$615,404$585,989$577,386$667,222
59$641,010$577,537$559,564$693,119
60$668,057$567,500$539,973$716,400
61$696,655$555,764$518,519$740,862
62$726,925$542,208$495,100$766,600
63$758,997$526,702$469,612$793,717
64$793,015$509,111$441,944$822,329
65$829,137$489,291$411,983$852,562
66$867,532$467,090$379,608$884,555
67$908,389$442,346$344,693$918,460
68$951,913$414,889$307,109$954,446
69$998,329$384,540$266,718$992,698
70$1,047,883$351,107$223,378$1,033,420
71$1,100,845$314,389$176,939$1,076,836
72$1,157,511$274,173$127,245$1,123,195
73$1,218,204$230,234$74,135$1,172,768
74$1,283,280$182,336$17,439$1,225,855
75$1,353,131$130,226$0$1,282,789
76$1,428,183$73,640$0$1,346,690
77$1,508,907$12,298$0$1,416,575
78$1,595,819$0$0$1,491,781
79$1,689,486$0$0$1,578,167
80$1,790,529$0$0$1,672,677
81$1,899,634$0$0$1,774,733
82$2,017,551$0$0$1,885,039
83$2,145,107$0$0$2,004,370
84$2,283,209$0$0$2,133,574
85$2,432,855$0$0$2,273,587
86$2,595,144$0$0$2,425,436
87$2,771,281$0$0$2,590,252
88$2,962,594$0$0$2,769,278
89$3,170,543$0$0$2,963,882
90$3,396,734$0$0$3,175,568
91$3,642,935$0$0$3,405,991
92$3,911,091$0$0$3,656,972
93$4,203,340$0$0$3,930,516
94$4,522,038$0$0$4,228,828
95$4,869,778$0$0$4,554,336
96$5,249,411$0$0$4,909,711
97$5,664,078$0$0$5,297,897
98$6,117,237$0$0$5,722,130
99$6,612,694$0$0$6,185,977
100$7,154,640$0$0$6,693,361