Can I retire at age 58 with 560,000?

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 $560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$46,244$45,832$45,430$45,038$44,655$43,933
2 years$22,893$22,467$22,054$21,653$21,264$20,539
3 years$15,111$14,682$14,270$13,873$13,491$12,785
4 years$11,220$10,793$10,385$9,995$9,622$8,941
5 years$8,886$8,462$8,059$7,677$7,314$6,660
6 years$7,331$6,910$6,513$6,139$5,788$5,160
7 years$6,220$5,803$5,412$5,048$4,707$4,107
8 years$5,388$4,974$4,590$4,234$3,905$3,332
9 years$4,741$4,331$3,953$3,607$3,288$2,743
10 years$4,223$3,817$3,447$3,109$2,802$2,283
11 years$3,800$3,398$3,034$2,706$2,410$1,917
12 years$3,448$3,050$2,693$2,373$2,088$1,621
13 years$3,150$2,757$2,406$2,095$1,821$1,378
14 years$2,895$2,506$2,162$1,860$1,596$1,178
15 years$2,674$2,289$1,952$1,659$1,405$1,010
16 years$2,481$2,100$1,770$1,485$1,242$869
17 years$2,311$1,934$1,610$1,334$1,101$750
18 years$2,160$1,787$1,470$1,203$979$649
19 years$2,025$1,656$1,346$1,087$873$563
20 years$1,903$1,539$1,235$984$780$488
21 years$1,794$1,434$1,136$893$698$425
22 years$1,694$1,338$1,047$812$625$370
23 years$1,603$1,252$967$740$561$322
24 years$1,520$1,173$894$675$505$281
25 years$1,444$1,101$828$616$454$245
26 years$1,373$1,034$768$563$409$214
27 years$1,308$973$713$516$369$187
28 years$1,248$917$663$472$333$164
29 years$1,192$865$617$433$300$143
30 years$1,140$817$575$398$271$126
31 years$1,091$773$536$365$245$110
32 years$1,046$731$500$336$222$96
33 years$1,003$692$467$309$201$84
34 years$963$656$436$284$182$74
35 years$925$622$408$261$165$65
36 years$889$591$381$241$149$57
37 years$856$561$357$222$135$50
38 years$824$533$334$204$123$44
39 years$794$507$313$188$111$38
40 years$766$482$294$174$101$34
41 years$739$459$275$160$92$30
42 years$713$437$258$148$83$26
43 years$689$417$242$137$75$23
44 years$665$397$227$126$68$20
45 years$643$379$214$117$62$18
46 years$622$361$201$108$56$15
47 years$602$345$188$99$51$13
48 years$583$329$177$92$47$12
49 years$564$314$166$85$42$10
50 years$547$300$156$78$38$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $560,000, adding $6,549 every year, while hoping to spend $38,430 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: 47/41/12 Blend
57$560,000$560,000$560,000$560,000
58$623,875$594,195$585,515$650,816
59$646,621$582,422$564,241$658,328
60$670,399$568,783$540,966$661,984
61$695,274$553,148$515,582$665,091
62$721,316$535,376$487,978$667,611
63$748,601$515,319$458,035$669,505
64$777,210$492,822$425,632$670,733
65$807,233$467,718$390,638$671,255
66$838,768$439,833$352,921$671,029
67$871,918$408,981$312,340$670,012
68$906,799$374,966$268,749$668,162
69$943,535$337,582$221,995$665,435
70$982,262$296,610$171,918$661,787
71$1,023,128$251,819$118,352$657,176
72$1,066,293$202,964$61,123$651,558
73$1,111,933$149,788$49$644,891
74$1,160,241$92,017$0$637,133
75$1,211,424$29,365$0$636,584
76$1,265,713$0$0$635,417
77$1,323,357$0$0$650,972
78$1,384,630$0$0$681,623
79$1,449,831$0$0$714,273
80$1,519,287$0$0$749,093
81$1,593,357$0$0$786,266
82$1,672,434$0$0$825,995
83$1,756,949$0$0$868,501
84$1,847,373$0$0$914,029
85$1,944,223$0$0$962,843
86$2,048,067$0$0$1,015,237
87$2,159,528$0$0$1,071,533
88$2,279,288$0$0$1,132,082
89$2,408,097$0$0$1,197,271
90$2,546,780$0$0$1,267,526
91$2,696,239$0$0$1,343,313
92$2,857,468$0$0$1,425,145
93$3,031,558$0$0$1,513,585
94$3,219,708$0$0$1,609,253
95$3,423,236$0$0$1,712,830
96$3,643,590$0$0$1,825,064
97$3,882,363$0$0$1,946,778
98$4,141,304$0$0$2,078,876
99$4,422,340$0$0$2,222,355
100$4,727,589$0$0$2,378,309