Can I retire at age 58 with 561,000?

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 $561,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$46,327$45,914$45,512$45,119$44,735$43,199
2 years$22,934$22,507$22,093$21,692$21,302$19,771
3 years$15,138$14,709$14,296$13,898$13,515$12,036
4 years$11,240$10,812$10,404$10,013$9,639$8,223
5 years$8,902$8,477$8,074$7,691$7,327$5,979
6 years$7,344$6,922$6,525$6,150$5,798$4,518
7 years$6,232$5,813$5,422$5,057$4,715$3,503
8 years$5,398$4,983$4,598$4,242$3,912$2,767
9 years$4,749$4,339$3,961$3,613$3,294$2,215
10 years$4,231$3,824$3,453$3,115$2,807$1,792
11 years$3,807$3,404$3,040$2,711$2,414$1,461
12 years$3,454$3,056$2,698$2,378$2,092$1,199
13 years$3,156$2,761$2,410$2,099$1,824$988
14 years$2,900$2,510$2,166$1,863$1,599$818
15 years$2,679$2,293$1,955$1,662$1,408$680
16 years$2,485$2,104$1,773$1,488$1,244$566
17 years$2,315$1,938$1,613$1,337$1,103$472
18 years$2,164$1,790$1,473$1,205$981$395
19 years$2,028$1,659$1,348$1,089$874$331
20 years$1,907$1,542$1,237$986$781$277
21 years$1,797$1,436$1,138$895$699$233
22 years$1,697$1,341$1,049$814$627$196
23 years$1,606$1,254$968$741$562$164
24 years$1,523$1,175$896$676$505$138
25 years$1,446$1,102$830$617$455$116
26 years$1,376$1,036$769$564$410$98
27 years$1,311$975$714$517$369$83
28 years$1,250$919$664$473$333$70
29 years$1,194$867$618$434$301$59
30 years$1,142$819$576$398$272$49
31 years$1,093$774$537$366$246$42
32 years$1,047$732$501$336$222$35
33 years$1,005$693$468$309$201$30
34 years$964$657$437$284$182$25
35 years$927$623$408$262$165$21
36 years$891$592$382$241$150$18
37 years$857$562$358$222$136$15
38 years$826$534$335$205$123$13
39 years$795$508$314$189$111$11
40 years$767$483$294$174$101$9
41 years$740$460$276$161$92$8
42 years$714$438$259$148$83$6
43 years$690$417$243$137$76$5
44 years$667$398$228$126$69$5
45 years$644$379$214$117$62$4
46 years$623$362$201$108$56$3
47 years$603$345$189$100$51$3
48 years$584$330$177$92$47$2
49 years$565$315$167$85$42$2
50 years$548$301$157$79$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $561,000, adding $6,008 every year, while hoping to spend $21,418 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: 69/20/11 Blend
57$561,000$561,000$561,000$561,000
58$624,419$594,686$585,991$665,660
59$665,321$601,037$582,833$700,165
60$709,678$606,982$578,851$734,748
61$757,818$612,477$573,996$772,016
62$810,105$617,478$568,214$812,229
63$866,937$621,936$561,451$855,676
64$928,753$625,799$553,648$902,671
65$996,037$629,014$544,746$953,565
66$1,069,319$631,522$534,681$1,008,742
67$1,149,183$633,260$523,387$1,068,625
68$1,236,274$634,164$510,795$1,133,682
69$1,331,299$634,163$496,831$1,204,429
70$1,435,038$633,183$481,421$1,281,434
71$1,548,348$631,146$464,485$1,365,325
72$1,672,175$627,967$445,941$1,456,793
73$1,807,557$623,558$425,701$1,556,599
74$1,955,641$617,825$403,674$1,665,585
75$2,117,686$610,668$379,767$1,784,677
76$2,295,080$601,982$353,879$1,914,897
77$2,489,352$591,653$325,909$2,057,374
78$2,702,186$579,564$295,746$2,213,348
79$2,935,435$565,588$263,280$2,384,191
80$3,191,140$549,593$228,390$2,571,414
81$3,471,551$531,437$190,956$2,776,683
82$3,779,143$510,971$150,847$3,001,836
83$4,116,644$488,038$107,929$3,248,897
84$4,487,060$462,470$62,062$3,520,102
85$4,893,699$434,090$13,101$3,817,913
86$5,340,208$402,712$0$4,145,046
87$5,830,602$368,138$0$4,509,089
88$6,369,306$330,159$0$4,910,690
89$6,961,193$288,554$0$5,351,967
90$7,611,632$243,091$0$5,836,956
91$8,326,539$193,523$0$6,370,101
92$9,112,429$139,589$0$6,956,304
93$9,976,483$81,014$0$7,600,964
94$10,926,610$17,510$0$8,310,037
95$11,971,524$0$0$9,090,083
96$13,120,827$0$0$9,959,611
97$14,385,097$0$0$10,920,395
98$15,775,990$0$0$11,977,444
99$17,306,349$0$0$13,140,521
100$18,990,321$0$0$14,420,386