Can I retire at age 58 with 562,000?

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 $562,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$46,409$45,996$45,593$45,199$44,815$44,458
2 years$22,975$22,547$22,132$21,730$21,340$20,981
3 years$15,164$14,735$14,321$13,923$13,539$13,188
4 years$11,260$10,832$10,422$10,031$9,656$9,316
5 years$8,918$8,492$8,088$7,704$7,341$7,012
6 years$7,357$6,934$6,536$6,161$5,808$5,492
7 years$6,243$5,824$5,432$5,066$4,724$4,420
8 years$5,407$4,992$4,607$4,249$3,919$3,628
9 years$4,758$4,346$3,968$3,620$3,300$3,022
10 years$4,238$3,831$3,459$3,120$2,812$2,546
11 years$3,814$3,411$3,045$2,715$2,418$2,164
12 years$3,460$3,061$2,703$2,382$2,096$1,853
13 years$3,161$2,766$2,415$2,103$1,827$1,597
14 years$2,905$2,515$2,170$1,867$1,602$1,383
15 years$2,684$2,297$1,959$1,665$1,410$1,202
16 years$2,490$2,108$1,776$1,491$1,247$1,049
17 years$2,319$1,941$1,616$1,339$1,105$918
18 years$2,167$1,794$1,475$1,207$983$806
19 years$2,032$1,662$1,350$1,091$876$708
20 years$1,910$1,545$1,239$988$782$624
21 years$1,800$1,439$1,140$896$700$551
22 years$1,700$1,343$1,051$815$628$487
23 years$1,609$1,256$970$742$563$431
24 years$1,526$1,177$897$677$506$382
25 years$1,449$1,104$831$618$456$339
26 years$1,378$1,038$771$565$410$301
27 years$1,313$977$716$517$370$267
28 years$1,253$921$665$474$334$237
29 years$1,196$868$619$435$302$211
30 years$1,144$820$577$399$272$188
31 years$1,095$775$538$366$246$167
32 years$1,049$734$502$337$223$149
33 years$1,006$695$468$310$202$133
34 years$966$658$438$285$183$118
35 years$928$625$409$262$165$105
36 years$893$593$383$242$150$94
37 years$859$563$358$223$136$84
38 years$827$535$335$205$123$75
39 years$797$509$314$189$112$67
40 years$768$484$295$174$101$60
41 years$741$461$276$161$92$53
42 years$716$439$259$149$83$47
43 years$691$418$243$137$76$42
44 years$668$399$228$127$69$38
45 years$646$380$214$117$62$34
46 years$624$363$201$108$57$30
47 years$604$346$189$100$51$27
48 years$585$330$178$92$47$24
49 years$566$315$167$85$42$22
50 years$549$301$157$79$39$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $562,000, adding $2,432 every year, while hoping to spend $40,764 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: 44/26/30 Blend
57$562,000$562,000$562,000$562,000
58$621,833$592,047$583,336$643,682
59$641,887$577,684$559,505$645,205
60$662,621$561,252$533,509$642,809
61$684,060$542,605$505,234$639,448
62$706,232$521,591$474,557$635,054
63$729,167$498,048$441,354$629,560
64$752,894$471,804$405,491$622,893
65$777,446$442,680$366,832$614,976
66$802,856$410,482$325,232$605,728
67$829,161$375,009$280,541$595,067
68$856,398$336,047$232,601$582,902
69$884,607$293,370$181,250$569,141
70$913,830$246,738$126,315$553,686
71$944,113$195,900$67,618$536,435
72$975,502$140,589$4,973$517,280
73$1,008,047$80,522$0$496,109
74$1,041,804$15,404$0$492,611
75$1,076,828$0$0$489,842
76$1,113,181$0$0$501,906
77$1,150,926$0$0$519,016
78$1,190,135$0$0$536,797
79$1,230,879$0$0$555,285
80$1,273,239$0$0$574,516
81$1,317,300$0$0$594,530
82$1,363,151$0$0$615,370
83$1,410,891$0$0$637,082
84$1,460,625$0$0$659,715
85$1,512,465$0$0$683,323
86$1,566,532$0$0$707,963
87$1,622,958$0$0$733,697
88$1,681,884$0$0$760,592
89$1,743,461$0$0$788,719
90$1,807,856$0$0$818,158
91$1,875,245$0$0$848,993
92$1,945,822$0$0$881,316
93$2,019,796$0$0$915,226
94$2,097,393$0$0$950,831
95$2,178,860$0$0$988,249
96$2,264,465$0$0$1,027,608
97$2,354,496$0$0$1,069,045
98$2,449,271$0$0$1,112,713
99$2,549,134$0$0$1,158,775
100$2,654,458$0$0$1,207,411