Will this 550W PSU be safe for my build?

This is my first build so I have no experience with choosing individual parts. I got help from reddit but after reading around I've become very concerned with my choice of PSU. I've been assured by some that it is enough, though a 650W would be safer, but I need a second opinion. Here is my build:

[PCPartPicker part list](http://pcpartpicker.com/p/vfjgrH) / [Price breakdown by merchant](http://pcpartpicker.com/p/vfjgrH/by_merchant/)

Type|Item|Price
:----|:----|:----
**CPU** | [Intel Core i5-4590 3.3GHz Quad-Core Processor](http://pcpartpicker.com/part/intel-cpu-bx80646i54590) | $188.99 @ NCIX US
**Motherboard** | [ASRock H97M Micro ATX LGA1150 Motherboard](http://pcpartpicker.com/part/asrock-motherboard-h97m) | $75.66 @ Newegg
**Memory** | [Team Xtreem Dark Series 8GB (2 x 4GB) DDR3-1600 Memory](http://pcpartpicker.com/part/team-memory-txd38192m1600hc9dcd) | $79.99 @ Newegg
**Storage** | [Crucial MX100 256GB 2.5" Solid State Drive](http://pcpartpicker.com/part/crucial-internal-hard-drive-ct256mx100ssd1) | $104.99 @ NCIX US
**Storage** | [Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive](http://pcpartpicker.com/part/seagate-internal-hard-drive-st1000dm003) | $51.98 @ OutletPC
**Video Card** | [Sapphire Radeon R9 290 4GB Vapor-X Video Card](http://pcpartpicker.com/part/sapphire-video-card-100362vxsr) | $465.99 @ SuperBiiz
**Case** | [BitFenix Shinobi Window ATX Mid Tower Case](http://pcpartpicker.com/part/bitfenix-case-shinobiwindow) | $59.99 @ NCIX US
**Power Supply** | [Thermaltake SMART 550W 80+ Bronze Certified ATX Power Supply](http://pcpartpicker.com/part/thermaltake-power-supply-sp550pcbus) | $36.99 @ Newegg
**Optical Drive** | [Samsung SH-224DB/RSBS DVD/CD Writer](http://pcpartpicker.com/part/samsung-optical-drive-sh224dbrsbs) | $14.99 @ Amazon
**Case Fan** | [Corsair Air Series SP120 Quiet Edition (2-Pack) 37.9 CFM 120mm Fans](http://pcpartpicker.com/part/corsair-case-fan-co9050006ww) | $24.98 @ OutletPC
**Keyboard** | [Gigabyte Force K3 Wired Gaming Keyboard](http://pcpartpicker.com/part/gigabyte-keyboard-gkforcek3) | $17.99 @ Newegg
| | **Total**
| Prices include shipping, taxes, and discounts when available | $1122.54
| Generated by PCPartPicker 2014-08-20 02:28 EDT-0400 |

Will that specific PSU be safe with my build? Or should I return in and get a 650W to be safe? Thanks in advance for any input!