Can I retire at age 58 with 560,000?

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 $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%14.1%
1 years$46,244$45,832$45,430$45,038$44,655$43,897
2 years$22,893$22,467$22,054$21,653$21,264$20,503
3 years$15,111$14,682$14,270$13,873$13,491$12,750
4 years$11,220$10,793$10,385$9,995$9,622$8,907
5 years$8,886$8,462$8,059$7,677$7,314$6,628
6 years$7,331$6,910$6,513$6,139$5,788$5,130
7 years$6,220$5,803$5,412$5,048$4,707$4,078
8 years$5,388$4,974$4,590$4,234$3,905$3,305
9 years$4,741$4,331$3,953$3,607$3,288$2,717
10 years$4,223$3,817$3,447$3,109$2,802$2,259
11 years$3,800$3,398$3,034$2,706$2,410$1,894
12 years$3,448$3,050$2,693$2,373$2,088$1,600
13 years$3,150$2,757$2,406$2,095$1,821$1,359
14 years$2,895$2,506$2,162$1,860$1,596$1,159
15 years$2,674$2,289$1,952$1,659$1,405$993
16 years$2,481$2,100$1,770$1,485$1,242$853
17 years$2,311$1,934$1,610$1,334$1,101$735
18 years$2,160$1,787$1,470$1,203$979$635
19 years$2,025$1,656$1,346$1,087$873$550
20 years$1,903$1,539$1,235$984$780$477
21 years$1,794$1,434$1,136$893$698$414
22 years$1,694$1,338$1,047$812$625$360
23 years$1,603$1,252$967$740$561$313
24 years$1,520$1,173$894$675$505$273
25 years$1,444$1,101$828$616$454$238
26 years$1,373$1,034$768$563$409$207
27 years$1,308$973$713$516$369$181
28 years$1,248$917$663$472$333$158
29 years$1,192$865$617$433$300$138
30 years$1,140$817$575$398$271$121
31 years$1,091$773$536$365$245$105
32 years$1,046$731$500$336$222$92
33 years$1,003$692$467$309$201$81
34 years$963$656$436$284$182$71
35 years$925$622$408$261$165$62
36 years$889$591$381$241$149$54
37 years$856$561$357$222$135$47
38 years$824$533$334$204$123$41
39 years$794$507$313$188$111$36
40 years$766$482$294$174$101$32
41 years$739$459$275$160$92$28
42 years$713$437$258$148$83$24
43 years$689$417$242$137$75$21
44 years$665$397$227$126$68$19
45 years$643$379$214$117$62$16
46 years$622$361$201$108$56$14
47 years$602$345$188$99$51$13
48 years$583$329$177$92$47$11
49 years$564$314$166$85$42$10
50 years$547$300$156$78$38$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $560,000, adding $2,687 every year, while hoping to spend $21,833 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: 68/21/11 Blend
57$560,000$560,000$560,000$560,000
58$619,892$590,212$581,532$660,420
59$659,890$595,902$577,783$693,388
60$703,237$601,139$573,177$726,561
61$750,251$605,878$567,661$762,271
62$801,281$610,071$561,183$800,763
63$856,714$613,666$553,684$842,309
64$916,972$616,609$545,106$887,206
65$982,521$618,842$535,385$935,784
66$1,053,876$620,302$524,458$988,407
67$1,131,599$620,925$512,256$1,045,476
68$1,216,313$620,641$498,707$1,107,432
69$1,308,700$619,375$483,736$1,174,763
70$1,409,512$617,050$467,267$1,248,006
71$1,519,578$613,581$449,216$1,327,755
72$1,639,810$608,881$429,499$1,414,663
73$1,771,209$602,855$408,026$1,509,451
74$1,914,882$595,404$384,705$1,612,916
75$2,072,045$586,424$359,436$1,725,933
76$2,244,035$575,801$332,120$1,849,470
77$2,432,330$563,418$302,649$1,984,596
78$2,638,551$549,149$270,911$2,132,485
79$2,864,488$532,862$236,791$2,294,436
80$3,112,110$514,416$200,168$2,471,881
81$3,383,586$493,663$160,914$2,666,396
82$3,681,304$470,445$118,897$2,879,724
83$4,007,897$444,597$73,980$3,113,783
84$4,366,261$415,941$26,017$3,370,690
85$4,759,590$384,292$0$3,652,780
86$5,191,400$349,454$0$3,965,580
87$5,665,563$311,218$0$4,312,424
88$6,186,347$269,364$0$4,693,406
89$6,758,453$223,661$0$5,111,997
90$7,387,058$173,864$0$5,572,022
91$8,077,867$119,712$0$6,077,699
92$8,837,164$60,933$0$6,633,678
93$9,671,873$0$0$7,245,082
94$10,589,622$0$0$7,918,200
95$11,598,815$0$0$8,673,905
96$12,708,710$0$0$9,505,057
97$13,929,510$0$0$10,419,297
98$15,272,453$0$0$11,425,049
99$16,749,924$0$0$12,531,592
100$18,375,567$0$0$13,749,149