Can I retire at age 58 with 284,000?

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 $284,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$23,452$23,244$23,040$22,841$22,647$21,817
2 years$11,610$11,394$11,184$10,981$10,784$9,958
3 years$7,663$7,446$7,237$7,036$6,842$6,044
4 years$5,690$5,474$5,267$5,069$4,880$4,117
5 years$4,507$4,291$4,087$3,893$3,709$2,984
6 years$3,718$3,504$3,303$3,114$2,935$2,247
7 years$3,155$2,943$2,745$2,560$2,387$1,737
8 years$2,732$2,523$2,328$2,147$1,980$1,367
9 years$2,404$2,196$2,005$1,829$1,668$1,090
10 years$2,142$1,936$1,748$1,577$1,421$879
11 years$1,927$1,723$1,539$1,372$1,222$714
12 years$1,749$1,547$1,366$1,204$1,059$583
13 years$1,598$1,398$1,220$1,063$923$479
14 years$1,468$1,271$1,096$943$810$395
15 years$1,356$1,161$990$841$713$327
16 years$1,258$1,065$897$753$630$271
17 years$1,172$981$817$677$559$225
18 years$1,095$906$745$610$497$187
19 years$1,027$840$682$551$443$156
20 years$965$781$626$499$395$130
21 years$910$727$576$453$354$109
22 years$859$679$531$412$317$91
23 years$813$635$490$375$285$76
24 years$771$595$453$342$256$64
25 years$732$558$420$312$230$53
26 years$697$525$389$286$207$45
27 years$664$494$362$261$187$38
28 years$633$465$336$240$169$31
29 years$605$439$313$220$152$26
30 years$578$414$291$202$138$22
31 years$553$392$272$185$124$19
32 years$530$371$253$170$113$16
33 years$509$351$237$156$102$13
34 years$488$333$221$144$92$11
35 years$469$316$207$133$84$9
36 years$451$300$193$122$76$8
37 years$434$284$181$112$69$6
38 years$418$270$170$104$62$5
39 years$403$257$159$96$56$5
40 years$388$245$149$88$51$4
41 years$375$233$140$81$46$3
42 years$362$222$131$75$42$3
43 years$349$211$123$69$38$2
44 years$337$201$115$64$35$2
45 years$326$192$108$59$32$2
46 years$316$183$102$55$29$1
47 years$305$175$96$50$26$1
48 years$296$167$90$47$24$1
49 years$286$159$84$43$21$1
50 years$277$152$79$40$19$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $284,000, adding $5,860 every year, while hoping to spend $22,987 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: 58/36/6 Blend
57$284,000$284,000$284,000$284,000
58$319,013$303,961$299,559$336,787
59$327,094$294,397$285,136$339,850
60$335,229$283,594$269,459$340,059
61$343,399$271,467$252,463$339,710
62$351,583$257,926$234,078$338,752
63$359,756$242,876$214,231$337,128
64$367,891$226,216$192,847$334,779
65$375,955$207,840$169,847$331,639
66$383,915$187,636$145,149$327,637
67$391,729$165,485$118,666$322,700
68$399,352$141,261$90,309$316,744
69$406,735$114,831$59,983$309,681
70$413,820$86,056$27,590$301,417
71$420,544$54,787$0$291,849
72$426,836$20,869$0$281,312
73$432,617$0$0$271,154
74$437,798$0$0$265,770
75$442,281$0$0$268,192
76$445,956$0$0$270,085
77$448,700$0$0$271,368
78$450,378$0$0$271,954
79$450,838$0$0$271,747
80$449,912$0$0$270,639
81$447,415$0$0$268,509
82$443,138$0$0$265,225
83$436,853$0$0$260,641
84$428,305$0$0$254,592
85$417,212$0$0$246,899
86$403,262$0$0$237,360
87$386,110$0$0$225,754
88$365,372$0$0$211,837
89$340,624$0$0$195,336
90$311,399$0$0$175,952
91$277,179$0$0$153,352
92$237,389$0$0$127,170
93$191,396$0$0$97,000
94$138,501$0$0$62,393
95$77,930$0$0$22,855
96$8,827$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0