Can I retire at age 58 with 564,000?

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 $564,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$46,575$46,160$45,755$45,360$44,974$44,672
2 years$23,057$22,627$22,211$21,808$21,416$21,112
3 years$15,218$14,787$14,372$13,972$13,587$13,289
4 years$11,300$10,870$10,459$10,066$9,691$9,402
5 years$8,950$8,522$8,117$7,732$7,367$7,088
6 years$7,383$6,959$6,560$6,183$5,829$5,561
7 years$6,265$5,844$5,451$5,084$4,741$4,483
8 years$5,426$5,010$4,623$4,265$3,933$3,685
9 years$4,775$4,362$3,982$3,632$3,312$3,075
10 years$4,253$3,845$3,471$3,131$2,822$2,595
11 years$3,827$3,423$3,056$2,725$2,427$2,210
12 years$3,473$3,072$2,712$2,390$2,103$1,897
13 years$3,173$2,776$2,423$2,110$1,834$1,637
14 years$2,916$2,524$2,177$1,873$1,608$1,420
15 years$2,693$2,305$1,966$1,671$1,416$1,237
16 years$2,499$2,115$1,782$1,496$1,251$1,082
17 years$2,327$1,948$1,622$1,344$1,109$949
18 years$2,175$1,800$1,480$1,211$986$834
19 years$2,039$1,668$1,355$1,094$879$735
20 years$1,917$1,550$1,244$991$785$649
21 years$1,806$1,444$1,144$900$703$574
22 years$1,706$1,348$1,054$818$630$509
23 years$1,615$1,261$974$745$565$451
24 years$1,531$1,181$900$679$508$401
25 years$1,454$1,108$834$620$457$356
26 years$1,383$1,042$773$567$412$317
27 years$1,318$980$718$519$371$282
28 years$1,257$924$668$476$335$251
29 years$1,201$871$621$436$303$224
30 years$1,148$823$579$400$273$200
31 years$1,099$778$540$368$247$178
32 years$1,053$736$503$338$224$159
33 years$1,010$697$470$311$202$142
34 years$970$661$439$286$183$127
35 years$932$627$411$263$166$114
36 years$896$595$384$242$150$102
37 years$862$565$360$223$136$91
38 years$830$537$337$206$124$81
39 years$800$511$315$190$112$73
40 years$771$486$296$175$102$65
41 years$744$462$277$162$92$58
42 years$718$440$260$149$84$52
43 years$693$420$244$138$76$47
44 years$670$400$229$127$69$42
45 years$648$381$215$117$63$37
46 years$627$364$202$108$57$33
47 years$606$347$190$100$52$30
48 years$587$331$178$93$47$27
49 years$568$317$168$86$43$24
50 years$551$302$158$79$39$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $564,000, adding $5,859 every year, while hoping to spend $31,654 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: 71/17/12 Blend
57$564,000$564,000$564,000$564,000
58$627,572$597,680$588,938$670,136
59$657,904$593,286$574,987$694,723
60$690,270$587,617$559,509$717,206
61$724,843$580,575$542,418$740,974
62$761,813$572,060$523,625$766,146
63$801,390$561,963$503,038$792,857
64$843,803$550,170$480,561$821,253
65$889,303$536,560$456,092$851,496
66$938,166$521,006$429,525$883,768
67$990,695$503,371$400,751$918,266
68$1,047,222$483,513$369,652$955,211
69$1,108,112$461,279$336,109$994,847
70$1,173,767$436,509$299,996$1,037,443
71$1,244,626$409,033$261,181$1,083,297
72$1,321,174$378,671$219,526$1,132,740
73$1,403,942$345,234$174,889$1,186,135
74$1,493,514$308,521$127,118$1,243,885
75$1,590,534$268,319$76,057$1,306,437
76$1,695,706$224,405$21,543$1,374,282
77$1,809,809$176,542$0$1,447,965
78$1,933,697$124,479$0$1,532,779
79$2,068,308$67,953$0$1,627,946
80$2,214,678$6,685$0$1,731,465
81$2,373,942$0$0$1,844,172
82$2,547,352$0$0$1,978,144
83$2,736,284$0$0$2,125,498
84$2,942,255$0$0$2,286,167
85$3,166,931$0$0$2,461,457
86$3,412,148$0$0$2,652,803
87$3,679,926$0$0$2,861,784
88$3,972,489$0$0$3,090,141
89$4,292,285$0$0$3,339,789
90$4,642,011$0$0$3,612,836
91$5,024,634$0$0$3,911,604
92$5,443,423$0$0$4,238,650
93$5,901,975$0$0$4,596,789
94$6,404,255$0$0$4,989,120
95$6,954,626$0$0$5,419,057
96$7,557,894$0$0$5,890,362
97$8,219,354$0$0$6,407,174
98$8,944,835$0$0$6,974,055
99$9,740,759$0$0$7,596,028
100$10,614,199$0$0$8,278,627