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%12.7%
1 years$46,244$45,832$45,430$45,038$44,655$44,152
2 years$22,893$22,467$22,054$21,653$21,264$20,758
3 years$15,111$14,682$14,270$13,873$13,491$12,997
4 years$11,220$10,793$10,385$9,995$9,622$9,144
5 years$8,886$8,462$8,059$7,677$7,314$6,854
6 years$7,331$6,910$6,513$6,139$5,788$5,345
7 years$6,220$5,803$5,412$5,048$4,707$4,283
8 years$5,388$4,974$4,590$4,234$3,905$3,499
9 years$4,741$4,331$3,953$3,607$3,288$2,901
10 years$4,223$3,817$3,447$3,109$2,802$2,432
11 years$3,800$3,398$3,034$2,706$2,410$2,057
12 years$3,448$3,050$2,693$2,373$2,088$1,753
13 years$3,150$2,757$2,406$2,095$1,821$1,503
14 years$2,895$2,506$2,162$1,860$1,596$1,294
15 years$2,674$2,289$1,952$1,659$1,405$1,119
16 years$2,481$2,100$1,770$1,485$1,242$971
17 years$2,311$1,934$1,610$1,334$1,101$845
18 years$2,160$1,787$1,470$1,203$979$738
19 years$2,025$1,656$1,346$1,087$873$645
20 years$1,903$1,539$1,235$984$780$565
21 years$1,794$1,434$1,136$893$698$496
22 years$1,694$1,338$1,047$812$625$435
23 years$1,603$1,252$967$740$561$383
24 years$1,520$1,173$894$675$505$337
25 years$1,444$1,101$828$616$454$297
26 years$1,373$1,034$768$563$409$262
27 years$1,308$973$713$516$369$231
28 years$1,248$917$663$472$333$204
29 years$1,192$865$617$433$300$181
30 years$1,140$817$575$398$271$160
31 years$1,091$773$536$365$245$141
32 years$1,046$731$500$336$222$125
33 years$1,003$692$467$309$201$111
34 years$963$656$436$284$182$98
35 years$925$622$408$261$165$87
36 years$889$591$381$241$149$77
37 years$856$561$357$222$135$68
38 years$824$533$334$204$123$60
39 years$794$507$313$188$111$53
40 years$766$482$294$174$101$47
41 years$739$459$275$160$92$42
42 years$713$437$258$148$83$37
43 years$689$417$242$137$75$33
44 years$665$397$227$126$68$29
45 years$643$379$214$117$62$26
46 years$622$361$201$108$56$23
47 years$602$345$188$99$51$20
48 years$583$329$177$92$47$18
49 years$564$314$166$85$42$16
50 years$547$300$156$78$38$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $560,000, adding $2,557 every year, while hoping to spend $43,979 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: 43/31/26 Blend
57$560,000$560,000$560,000$560,000
58$619,758$590,078$581,398$641,614
59$636,179$572,198$554,081$639,591
60$652,803$551,968$524,375$633,007
61$669,601$529,227$492,154$625,017
62$686,544$503,803$457,285$615,515
63$703,598$475,516$419,631$604,388
64$720,722$444,174$379,046$591,518
65$737,872$409,575$335,380$576,777
66$754,996$371,505$288,476$560,028
67$772,035$329,738$238,170$541,126
68$788,923$284,035$184,289$519,916
69$805,585$234,145$126,655$496,233
70$821,937$179,800$65,079$469,899
71$837,883$120,719$0$440,726
72$853,317$56,604$0$408,687
73$868,119$0$0$392,670
74$882,156$0$0$378,815
75$895,278$0$0$383,798
76$907,316$0$0$388,229
77$918,086$0$0$392,018
78$927,378$0$0$395,066
79$934,961$0$0$397,261
80$940,576$0$0$398,480
81$943,937$0$0$398,585
82$944,724$0$0$397,424
83$942,584$0$0$394,827
84$937,123$0$0$390,607
85$927,904$0$0$384,554
86$914,443$0$0$376,439
87$896,204$0$0$366,004
88$872,593$0$0$352,968
89$842,949$0$0$337,014
90$806,544$0$0$317,797
91$762,571$0$0$294,932
92$710,136$0$0$267,993
93$648,251$0$0$236,509
94$575,822$0$0$199,962
95$491,642$0$0$157,776
96$394,373$0$0$109,316
97$282,539$0$0$53,879
98$154,508$0$0$0
99$8,477$0$0$0
100$0$0$0$0