Can I retire at age 58 with 288,000?

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 $288,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$23,783$23,571$23,364$23,163$22,966$22,204
2 years$11,774$11,554$11,342$11,136$10,936$10,176
3 years$7,771$7,551$7,339$7,135$6,938$6,204
4 years$5,770$5,551$5,341$5,140$4,948$4,245
5 years$4,570$4,352$4,145$3,948$3,762$3,091
6 years$3,770$3,554$3,350$3,157$2,977$2,340
7 years$3,199$2,984$2,783$2,596$2,421$1,817
8 years$2,771$2,558$2,361$2,178$2,008$1,438
9 years$2,438$2,227$2,033$1,855$1,691$1,153
10 years$2,172$1,963$1,773$1,599$1,441$935
11 years$1,954$1,748$1,561$1,392$1,239$764
12 years$1,773$1,569$1,385$1,221$1,074$628
13 years$1,620$1,418$1,237$1,078$937$519
14 years$1,489$1,289$1,112$957$821$430
15 years$1,375$1,177$1,004$853$723$358
16 years$1,276$1,080$910$764$639$299
17 years$1,188$995$828$686$566$250
18 years$1,111$919$756$618$504$210
19 years$1,041$852$692$559$449$176
20 years$979$792$635$506$401$148
21 years$922$737$584$459$359$124
22 years$871$688$538$418$322$105
23 years$825$644$497$380$289$88
24 years$782$603$460$347$260$74
25 years$743$566$426$317$234$63
26 years$706$532$395$290$210$53
27 years$673$501$367$265$190$45
28 years$642$472$341$243$171$38
29 years$613$445$317$223$155$32
30 years$586$420$296$204$140$27
31 years$561$397$276$188$126$23
32 years$538$376$257$173$114$19
33 years$516$356$240$159$103$16
34 years$495$337$224$146$94$14
35 years$476$320$210$134$85$12
36 years$457$304$196$124$77$10
37 years$440$288$184$114$70$8
38 years$424$274$172$105$63$7
39 years$408$261$161$97$57$6
40 years$394$248$151$89$52$5
41 years$380$236$142$82$47$4
42 years$367$225$133$76$43$4
43 years$354$214$125$70$39$3
44 years$342$204$117$65$35$3
45 years$331$195$110$60$32$2
46 years$320$186$103$55$29$2
47 years$310$177$97$51$26$2
48 years$300$169$91$47$24$1
49 years$290$162$86$44$22$1
50 years$281$154$80$40$20$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $288,000, adding $4,402 every year, while hoping to spend $20,281 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: 47/31/22 Blend
57$288,000$288,000$288,000$288,000
58$321,917$306,653$302,189$334,842
59$333,173$300,100$290,733$337,779
60$344,898$292,546$278,214$338,597
61$357,118$283,921$264,575$339,069
62$369,862$274,150$249,755$339,173
63$383,158$263,155$233,693$338,885
64$397,042$250,851$216,323$338,180
65$411,548$237,150$197,578$337,032
66$426,715$221,960$177,386$335,414
67$442,585$205,180$155,672$333,300
68$459,202$186,708$132,361$330,660
69$476,615$166,431$107,370$327,467
70$494,878$144,234$80,614$323,689
71$514,047$119,993$52,007$319,298
72$534,185$93,578$21,454$314,261
73$555,360$64,852$0$308,548
74$577,646$33,669$0$304,744
75$601,122$0$0$305,745
76$625,877$0$0$306,543
77$652,005$0$0$319,520
78$679,610$0$0$333,245
79$708,806$0$0$347,776
80$739,715$0$0$363,176
81$772,474$0$0$379,515
82$807,229$0$0$396,867
83$844,142$0$0$415,317
84$883,389$0$0$434,955
85$925,163$0$0$455,880
86$969,676$0$0$478,202
87$1,017,159$0$0$502,038
88$1,067,865$0$0$527,520
89$1,122,073$0$0$554,791
90$1,180,086$0$0$584,007
91$1,242,238$0$0$615,341
92$1,308,897$0$0$648,982
93$1,380,463$0$0$685,137
94$1,457,377$0$0$724,034
95$1,540,124$0$0$765,922
96$1,629,236$0$0$811,075
97$1,725,295$0$0$859,796
98$1,828,944$0$0$912,415
99$1,940,886$0$0$969,296
100$2,061,896$0$0$1,030,839