Can I retire at age 58 with 557,000?

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 $557,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$45,997$45,587$45,187$44,797$44,416$43,132
2 years$22,771$22,346$21,935$21,537$21,150$19,868
3 years$15,030$14,604$14,194$13,799$13,419$12,177
4 years$11,160$10,735$10,329$9,941$9,570$8,379
5 years$8,839$8,417$8,016$7,636$7,275$6,137
6 years$7,292$6,873$6,478$6,107$5,757$4,673
7 years$6,187$5,772$5,383$5,021$4,682$3,653
8 years$5,359$4,947$4,566$4,212$3,884$2,909
9 years$4,715$4,308$3,932$3,587$3,271$2,349
10 years$4,201$3,797$3,428$3,092$2,787$1,917
11 years$3,780$3,380$3,018$2,691$2,397$1,577
12 years$3,429$3,034$2,679$2,361$2,077$1,306
13 years$3,133$2,742$2,393$2,084$1,811$1,087
14 years$2,879$2,492$2,150$1,850$1,588$909
15 years$2,660$2,277$1,941$1,650$1,398$762
16 years$2,468$2,089$1,760$1,477$1,236$641
17 years$2,298$1,924$1,602$1,327$1,095$541
18 years$2,148$1,778$1,462$1,196$974$457
19 years$2,014$1,647$1,338$1,081$868$387
20 years$1,893$1,531$1,228$979$775$328
21 years$1,784$1,426$1,130$888$694$278
22 years$1,685$1,331$1,041$808$622$236
23 years$1,595$1,245$962$736$558$201
24 years$1,512$1,166$889$671$502$171
25 years$1,436$1,095$824$613$452$145
26 years$1,366$1,029$764$560$407$124
27 years$1,301$968$709$513$367$105
28 years$1,241$912$659$470$331$90
29 years$1,186$861$614$431$299$77
30 years$1,134$813$572$395$270$65
31 years$1,085$768$533$363$244$56
32 years$1,040$727$497$334$221$48
33 years$998$689$464$307$200$41
34 years$958$653$434$282$181$35
35 years$920$619$406$260$164$30
36 years$885$587$379$239$148$25
37 years$851$558$355$221$135$22
38 years$820$530$332$203$122$18
39 years$790$504$312$187$111$16
40 years$762$480$292$173$100$13
41 years$735$457$274$160$91$11
42 years$709$435$257$147$83$10
43 years$685$414$241$136$75$8
44 years$662$395$226$125$68$7
45 years$640$377$212$116$62$6
46 years$619$359$199$107$56$5
47 years$599$343$187$99$51$4
48 years$580$327$176$91$46$4
49 years$561$313$166$84$42$3
50 years$544$299$156$78$38$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $557,000, adding $6,120 every year, while hoping to spend $24,123 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: 66/10/24 Blend
57$557,000$557,000$557,000$557,000
58$620,127$590,606$581,972$656,831
59$657,713$593,879$575,802$685,548
60$698,325$596,504$568,616$713,643
61$742,245$598,423$560,355$743,806
62$789,784$599,577$550,958$776,242
63$841,285$599,899$540,358$811,176
64$897,124$599,322$528,488$848,857
65$957,715$597,773$515,276$889,562
66$1,023,512$595,174$500,648$933,595
67$1,095,016$591,443$484,525$981,291
68$1,172,776$586,493$466,826$1,033,022
69$1,257,400$580,231$447,465$1,089,197
70$1,349,553$572,560$426,353$1,150,269
71$1,449,968$563,377$403,397$1,216,736
72$1,559,453$552,570$378,499$1,289,151
73$1,678,895$540,024$351,556$1,368,122
74$1,809,271$525,614$322,463$1,454,320
75$1,951,659$509,212$291,108$1,548,487
76$2,107,243$490,677$257,374$1,651,441
77$2,277,326$469,865$221,141$1,764,086
78$2,463,345$446,620$182,280$1,887,417
79$2,666,880$420,778$140,661$2,022,535
80$2,889,673$392,167$96,144$2,170,654
81$3,133,639$360,604$48,584$2,333,112
82$3,400,891$325,893$0$2,511,389
83$3,693,752$287,833$0$2,707,668
84$4,014,783$246,205$0$2,936,509
85$4,366,804$200,782$0$3,187,481
86$4,752,921$151,323$0$3,462,819
87$5,176,553$97,572$0$3,764,983
88$5,641,469$39,260$0$4,096,686
89$6,151,819$0$0$4,460,915
90$6,712,174$0$0$4,863,594
91$7,327,571$0$0$5,310,608
92$8,003,558$0$0$5,801,671
93$8,746,245$0$0$6,341,229
94$9,562,366$0$0$6,934,177
95$10,459,337$0$0$7,585,910
96$11,445,330$0$0$8,302,368
97$12,529,347$0$0$9,090,101
98$13,721,306$0$0$9,956,321
99$15,032,135$0$0$10,908,974
100$16,473,874$0$0$11,956,817