Can I retire at age 58 with 557,000?

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 $557,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$45,997$45,587$45,187$44,797$44,416$43,806
2 years$22,771$22,346$21,935$21,537$21,150$20,537
3 years$15,030$14,604$14,194$13,799$13,419$12,821
4 years$11,160$10,735$10,329$9,941$9,570$8,993
5 years$8,839$8,417$8,016$7,636$7,275$6,720
6 years$7,292$6,873$6,478$6,107$5,757$5,224
7 years$6,187$5,772$5,383$5,021$4,682$4,172
8 years$5,359$4,947$4,566$4,212$3,884$3,396
9 years$4,715$4,308$3,932$3,587$3,271$2,806
10 years$4,201$3,797$3,428$3,092$2,787$2,344
11 years$3,780$3,380$3,018$2,691$2,397$1,975
12 years$3,429$3,034$2,679$2,361$2,077$1,677
13 years$3,133$2,742$2,393$2,084$1,811$1,432
14 years$2,879$2,492$2,150$1,850$1,588$1,228
15 years$2,660$2,277$1,941$1,650$1,398$1,058
16 years$2,468$2,089$1,760$1,477$1,236$914
17 years$2,298$1,924$1,602$1,327$1,095$792
18 years$2,148$1,778$1,462$1,196$974$688
19 years$2,014$1,647$1,338$1,081$868$599
20 years$1,893$1,531$1,228$979$775$523
21 years$1,784$1,426$1,130$888$694$456
22 years$1,685$1,331$1,041$808$622$399
23 years$1,595$1,245$962$736$558$349
24 years$1,512$1,166$889$671$502$306
25 years$1,436$1,095$824$613$452$269
26 years$1,366$1,029$764$560$407$236
27 years$1,301$968$709$513$367$207
28 years$1,241$912$659$470$331$182
29 years$1,186$861$614$431$299$160
30 years$1,134$813$572$395$270$141
31 years$1,085$768$533$363$244$124
32 years$1,040$727$497$334$221$109
33 years$998$689$464$307$200$96
34 years$958$653$434$282$181$85
35 years$920$619$406$260$164$75
36 years$885$587$379$239$148$66
37 years$851$558$355$221$135$58
38 years$820$530$332$203$122$51
39 years$790$504$312$187$111$45
40 years$762$480$292$173$100$40
41 years$735$457$274$160$91$35
42 years$709$435$257$147$83$31
43 years$685$414$241$136$75$27
44 years$662$395$226$125$68$24
45 years$640$377$212$116$62$21
46 years$619$359$199$107$56$19
47 years$599$343$187$99$51$17
48 years$580$327$176$91$46$15
49 years$561$313$166$84$42$13
50 years$544$299$156$78$38$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $557,000, adding $5,091 every year, while hoping to spend $30,080 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: 73/17/10 Blend
57$557,000$557,000$557,000$557,000
58$619,065$589,544$580,911$662,732
59$650,205$586,427$568,366$689,139
60$683,513$582,149$554,394$713,814
61$719,178$576,621$538,913$740,009
62$757,409$569,750$521,841$767,867
63$798,433$561,436$503,091$797,543
64$842,499$551,573$482,571$829,212
65$889,884$540,049$460,186$863,064
66$940,887$526,747$435,837$899,310
67$995,840$511,540$409,420$938,183
68$1,055,106$494,296$380,826$979,941
69$1,119,084$474,874$349,942$1,024,868
70$1,188,213$453,125$316,647$1,073,279
71$1,262,976$428,893$280,820$1,125,521
72$1,343,902$402,011$242,330$1,181,977
73$1,431,573$372,303$201,041$1,243,070
74$1,526,631$339,583$156,813$1,309,268
75$1,629,779$303,654$109,498$1,381,087
76$1,741,792$264,309$58,942$1,459,098
77$1,863,522$221,328$4,984$1,543,932
78$1,995,907$174,479$0$1,636,282
79$2,139,978$123,517$0$1,742,530
80$2,296,870$68,183$0$1,858,843
81$2,467,831$8,204$0$1,985,645
82$2,654,235$0$0$2,123,989
83$2,857,596$0$0$2,285,648
84$3,079,576$0$0$2,463,807
85$3,322,010$0$0$2,658,407
86$3,586,914$0$0$2,871,071
87$3,876,509$0$0$3,103,583
88$4,193,241$0$0$3,357,911
89$4,539,800$0$0$3,636,219
90$4,919,153$0$0$3,940,894
91$5,334,562$0$0$4,274,558
92$5,789,624$0$0$4,640,105
93$6,288,296$0$0$5,040,719
94$6,834,940$0$0$5,479,905
95$7,434,355$0$0$5,961,528
96$8,091,832$0$0$6,489,840
97$8,813,196$0$0$7,069,527
98$9,604,862$0$0$7,705,750
99$10,473,900$0$0$8,404,195
100$11,428,093$0$0$9,171,124