Can I retire at age 58 with 489,000?

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 $489,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$40,381$40,021$39,671$39,328$38,994$38,066
2 years$19,991$19,618$19,258$18,908$18,568$17,640
3 years$13,195$12,821$12,461$12,114$11,781$10,879
4 years$9,797$9,425$9,068$8,728$8,402$7,535
5 years$7,760$7,389$7,037$6,704$6,387$5,557
6 years$6,401$6,034$5,687$5,361$5,054$4,262
7 years$5,432$5,067$4,726$4,408$4,110$3,356
8 years$4,705$4,343$4,008$3,697$3,410$2,693
9 years$4,140$3,782$3,452$3,149$2,872$2,192
10 years$3,688$3,333$3,010$2,715$2,447$1,803
11 years$3,318$2,968$2,650$2,363$2,104$1,496
12 years$3,011$2,664$2,352$2,072$1,823$1,249
13 years$2,751$2,407$2,101$1,830$1,590$1,049
14 years$2,528$2,188$1,888$1,624$1,394$885
15 years$2,335$1,999$1,704$1,448$1,227$749
16 years$2,166$1,834$1,545$1,297$1,085$636
17 years$2,018$1,689$1,406$1,165$962$541
18 years$1,886$1,561$1,284$1,050$855$462
19 years$1,768$1,446$1,175$949$762$395
20 years$1,662$1,344$1,078$859$681$338
21 years$1,566$1,252$992$780$609$290
22 years$1,479$1,169$914$709$546$248
23 years$1,400$1,093$844$646$490$213
24 years$1,327$1,024$781$589$441$183
25 years$1,261$961$723$538$396$158
26 years$1,199$903$671$492$357$136
27 years$1,143$850$623$450$322$117
28 years$1,090$801$579$413$291$101
29 years$1,041$756$539$378$262$87
30 years$995$714$502$347$237$75
31 years$953$675$468$319$214$64
32 years$913$638$436$293$194$56
33 years$876$604$408$269$175$48
34 years$841$573$381$248$159$41
35 years$808$543$356$228$144$36
36 years$777$516$333$210$130$31
37 years$747$490$312$194$118$27
38 years$720$466$292$179$107$23
39 years$693$443$273$165$97$20
40 years$669$421$256$152$88$17
41 years$645$401$240$140$80$15
42 years$623$382$225$129$73$13
43 years$601$364$212$119$66$11
44 years$581$347$199$110$60$9
45 years$562$331$186$102$54$8
46 years$543$315$175$94$49$7
47 years$526$301$165$87$45$6
48 years$509$287$155$80$41$5
49 years$493$274$145$74$37$5
50 years$477$262$137$69$34$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $489,000, adding $6,408 every year, while hoping to spend $20,758 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: 68/15/17 Blend
57$489,000$489,000$489,000$489,000
58$545,488$519,571$511,991$579,931
59$579,041$522,943$507,057$607,103
60$615,321$525,786$501,261$633,776
61$654,584$528,049$494,554$662,435
62$697,112$529,684$486,881$693,274
63$743,214$530,635$478,188$726,506
64$793,231$530,845$468,416$762,368
65$847,537$530,253$457,505$801,119
66$906,544$528,794$445,390$843,048
67$970,706$526,399$432,004$888,470
68$1,040,520$522,994$417,279$937,737
69$1,116,536$518,504$401,140$991,234
70$1,199,356$512,845$383,513$1,049,387
71$1,289,646$505,929$364,316$1,112,666
72$1,388,136$497,666$343,466$1,181,590
73$1,495,631$487,956$320,877$1,256,732
74$1,613,016$476,697$296,457$1,338,722
75$1,741,266$463,778$270,112$1,428,257
76$1,881,456$449,083$241,741$1,526,107
77$2,034,766$432,490$211,240$1,633,119
78$2,202,497$413,868$178,503$1,750,228
79$2,386,084$393,079$143,414$1,878,468
80$2,587,102$369,978$105,856$2,018,976
81$2,807,290$344,410$65,706$2,173,009
82$3,048,561$316,213$22,834$2,341,951
83$3,313,021$285,215$0$2,527,333
84$3,602,992$251,233$0$2,734,995
85$3,921,029$214,075$0$2,967,332
86$4,269,948$173,539$0$3,222,274
87$4,652,849$129,409$0$3,502,111
88$5,073,148$81,458$0$3,809,367
89$5,534,607$29,448$0$4,146,823
90$6,041,372$0$0$4,517,544
91$6,598,006$0$0$4,929,347
92$7,209,540$0$0$5,387,136
93$7,881,515$0$0$5,890,202
94$8,620,034$0$0$6,443,118
95$9,431,823$0$0$7,050,924
96$10,324,288$0$0$7,719,169
97$11,305,594$0$0$8,453,971
98$12,384,732$0$0$9,262,067
99$13,571,609$0$0$10,150,881
100$14,877,143$0$0$11,128,593