Can I retire at age 58 with 556,000?

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 $556,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$45,914$45,505$45,106$44,717$44,336$43,746
2 years$22,730$22,306$21,896$21,498$21,112$20,519
3 years$15,003$14,577$14,168$13,774$13,395$12,816
4 years$11,140$10,716$10,311$9,924$9,553$8,994
5 years$8,823$8,401$8,002$7,622$7,262$6,724
6 years$7,279$6,860$6,467$6,096$5,746$5,230
7 years$6,176$5,761$5,374$5,011$4,673$4,179
8 years$5,349$4,939$4,557$4,204$3,877$3,404
9 years$4,707$4,300$3,925$3,581$3,265$2,814
10 years$4,193$3,790$3,422$3,087$2,782$2,352
11 years$3,773$3,374$3,013$2,686$2,393$1,984
12 years$3,423$3,028$2,674$2,356$2,073$1,685
13 years$3,128$2,737$2,389$2,080$1,808$1,439
14 years$2,874$2,488$2,146$1,847$1,585$1,236
15 years$2,655$2,273$1,938$1,647$1,395$1,065
16 years$2,463$2,085$1,757$1,475$1,233$921
17 years$2,294$1,920$1,599$1,325$1,094$799
18 years$2,144$1,774$1,459$1,194$972$694
19 years$2,010$1,644$1,336$1,079$867$605
20 years$1,890$1,528$1,226$977$774$528
21 years$1,781$1,423$1,128$887$693$461
22 years$1,682$1,329$1,039$806$621$404
23 years$1,592$1,243$960$734$557$354
24 years$1,509$1,164$888$670$501$310
25 years$1,433$1,093$822$612$451$273
26 years$1,364$1,027$762$559$406$239
27 years$1,299$966$708$512$366$210
28 years$1,239$911$658$469$330$185
29 years$1,184$859$613$430$298$163
30 years$1,132$811$571$395$270$143
31 years$1,083$767$532$363$244$126
32 years$1,038$726$496$333$220$111
33 years$996$687$463$306$199$98
34 years$956$651$433$282$181$87
35 years$918$618$405$260$164$76
36 years$883$586$379$239$148$67
37 years$850$557$354$220$134$59
38 years$818$529$332$203$122$52
39 years$788$503$311$187$110$46
40 years$760$479$291$173$100$41
41 years$733$456$273$159$91$36
42 years$708$434$256$147$82$32
43 years$684$414$241$136$75$28
44 years$661$394$226$125$68$25
45 years$639$376$212$116$62$22
46 years$618$359$199$107$56$19
47 years$598$342$187$99$51$17
48 years$579$327$176$91$46$15
49 years$560$312$165$84$42$13
50 years$543$298$155$78$38$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $556,000, adding $3,109 every year, while hoping to spend $32,210 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: 42/46/12 Blend
57$556,000$556,000$556,000$556,000
58$615,919$586,451$577,833$639,498
59$644,471$580,916$562,919$650,794
60$674,857$574,030$546,426$659,564
61$707,228$565,693$528,267$668,349
62$741,752$555,799$508,351$677,164
63$778,613$544,236$486,583$686,027
64$818,012$530,883$462,864$694,963
65$860,169$515,616$437,089$703,999
66$905,325$498,301$409,151$713,169
67$953,746$478,795$378,936$722,514
68$1,005,723$456,951$346,324$732,081
69$1,061,574$432,608$311,193$741,927
70$1,121,649$405,601$273,414$752,117
71$1,186,334$375,752$232,850$762,727
72$1,256,051$342,875$189,361$773,845
73$1,331,263$306,770$142,799$785,572
74$1,412,480$267,230$93,011$798,024
75$1,500,262$224,034$39,836$811,334
76$1,595,225$176,948$0$825,653
77$1,698,045$125,725$0$843,319
78$1,809,466$70,106$0$867,948
79$1,930,306$9,816$0$894,679
80$2,061,464$0$0$923,788
81$2,203,930$0$0$983,646
82$2,358,792$0$0$1,054,175
83$2,527,246$0$0$1,130,958
84$2,710,610$0$0$1,214,606
85$2,910,333$0$0$1,305,787
86$3,128,010$0$0$1,405,238
87$3,365,397$0$0$1,513,770
88$3,624,423$0$0$1,632,276
89$3,907,217$0$0$1,761,739
90$4,216,119$0$0$1,903,240
91$4,553,705$0$0$2,057,972
92$4,922,813$0$0$2,227,245
93$5,326,565$0$0$2,412,504
94$5,768,401$0$0$2,615,339
95$6,252,108$0$0$2,837,501
96$6,781,856$0$0$3,080,919
97$7,362,238$0$0$3,347,716
98$7,998,310$0$0$3,640,231
99$8,695,643$0$0$3,961,041
100$9,460,371$0$0$4,312,983