Can I retire at age 58 with 234,000?

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 $234,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$19,324$19,151$18,983$18,820$18,659$18,231
2 years$9,566$9,388$9,215$9,048$8,885$8,456
3 years$6,314$6,135$5,963$5,797$5,637$5,220
4 years$4,688$4,510$4,339$4,176$4,021$3,619
5 years$3,713$3,536$3,368$3,208$3,056$2,672
6 years$3,063$2,887$2,722$2,565$2,418$2,051
7 years$2,599$2,425$2,262$2,109$1,967$1,617
8 years$2,251$2,078$1,918$1,769$1,632$1,299
9 years$1,981$1,810$1,652$1,507$1,374$1,059
10 years$1,765$1,595$1,440$1,299$1,171$872
11 years$1,588$1,420$1,268$1,131$1,007$724
12 years$1,441$1,275$1,125$992$873$606
13 years$1,316$1,152$1,005$876$761$509
14 years$1,210$1,047$903$777$667$430
15 years$1,117$956$816$693$587$365
16 years$1,037$878$739$621$519$310
17 years$966$808$673$558$460$264
18 years$902$747$614$503$409$226
19 years$846$692$562$454$365$193
20 years$795$643$516$411$326$166
21 years$749$599$475$373$292$142
22 years$708$559$437$339$261$122
23 years$670$523$404$309$235$105
24 years$635$490$374$282$211$90
25 years$603$460$346$257$190$78
26 years$574$432$321$235$171$67
27 years$547$407$298$215$154$58
28 years$522$383$277$197$139$50
29 years$498$362$258$181$126$43
30 years$476$341$240$166$113$37
31 years$456$323$224$153$103$32
32 years$437$305$209$140$93$28
33 years$419$289$195$129$84$24
34 years$402$274$182$119$76$21
35 years$387$260$170$109$69$18
36 years$372$247$159$101$62$15
37 years$358$234$149$93$57$13
38 years$344$223$140$85$51$12
39 years$332$212$131$79$46$10
40 years$320$202$123$73$42$9
41 years$309$192$115$67$38$7
42 years$298$183$108$62$35$6
43 years$288$174$101$57$31$6
44 years$278$166$95$53$29$5
45 years$269$158$89$49$26$4
46 years$260$151$84$45$24$4
47 years$252$144$79$42$21$3
48 years$244$138$74$38$19$3
49 years$236$131$70$35$18$2
50 years$228$125$65$33$16$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $234,000, adding $3,764 every year, while hoping to spend $21,109 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: 79/6/15 Blend
57$234,000$234,000$234,000$234,000
58$261,751$249,349$245,722$281,318
59$265,989$239,107$231,493$284,490
60$269,953$227,656$216,081$284,894
61$273,591$214,914$199,423$284,741
62$276,848$200,795$181,454$283,968
63$279,660$185,207$162,106$282,505
64$281,958$168,055$141,309$280,273
65$283,664$149,237$118,990$277,187
66$284,692$128,644$95,070$273,153
67$284,946$106,163$69,471$268,069
68$284,319$81,673$42,107$261,820
69$282,693$55,049$12,891$254,282
70$279,937$26,155$0$245,319
71$275,904$0$0$237,706
72$270,433$0$0$231,084
73$263,346$0$0$224,776
74$254,443$0$0$216,885
75$243,506$0$0$207,217
76$230,291$0$0$195,562
77$214,530$0$0$181,685
78$195,924$0$0$165,328
79$174,145$0$0$146,203
80$148,830$0$0$123,993
81$119,575$0$0$98,349
82$85,937$0$0$68,883
83$47,423$0$0$35,167
84$3,492$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0