Can I retire at age 58 with 291,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $291,000?

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$24,031$23,816$23,608$23,404$23,205$22,534
2 years$11,896$11,675$11,460$11,252$11,050$10,380
3 years$7,852$7,630$7,415$7,209$7,010$6,362
4 years$5,830$5,609$5,397$5,194$5,000$4,377
5 years$4,618$4,397$4,188$3,989$3,801$3,206
6 years$3,809$3,591$3,384$3,190$3,008$2,441
7 years$3,232$3,015$2,812$2,623$2,446$1,908
8 years$2,800$2,585$2,385$2,200$2,029$1,520
9 years$2,463$2,250$2,054$1,874$1,709$1,227
10 years$2,195$1,984$1,791$1,616$1,456$1,001
11 years$1,975$1,766$1,577$1,406$1,252$824
12 years$1,792$1,585$1,399$1,233$1,085$682
13 years$1,637$1,432$1,250$1,089$946$568
14 years$1,504$1,302$1,123$967$829$475
15 years$1,390$1,189$1,014$862$730$398
16 years$1,289$1,091$920$772$645$335
17 years$1,201$1,005$837$693$572$283
18 years$1,122$929$764$625$509$239
19 years$1,052$861$699$565$454$202
20 years$989$800$642$511$405$171
21 years$932$745$590$464$363$145
22 years$880$695$544$422$325$123
23 years$833$650$502$384$292$105
24 years$790$609$465$351$262$89
25 years$750$572$430$320$236$76
26 years$714$537$399$293$213$65
27 years$680$506$371$268$192$55
28 years$649$477$344$245$173$47
29 years$619$450$321$225$156$40
30 years$592$425$299$207$141$34
31 years$567$401$278$190$128$29
32 years$543$380$260$174$115$25
33 years$521$360$243$160$104$21
34 years$500$341$227$148$95$18
35 years$481$323$212$136$86$15
36 years$462$307$198$125$78$13
37 years$445$292$185$115$70$11
38 years$428$277$174$106$64$10
39 years$413$263$163$98$58$8
40 years$398$251$153$90$52$7
41 years$384$239$143$83$48$6
42 years$370$227$134$77$43$5
43 years$358$216$126$71$39$4
44 years$346$206$118$66$36$4
45 years$334$197$111$61$32$3
46 years$323$188$104$56$29$3
47 years$313$179$98$52$27$2
48 years$303$171$92$48$24$2
49 years$293$163$86$44$22$2
50 years$284$156$81$41$20$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $291,000, adding $3,477 every year, while hoping to spend $23,545 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: 52/29/19 Blend
57$291,000$291,000$291,000$291,000
58$324,269$308,846$304,335$339,269
59$332,292$298,927$289,479$340,041
60$340,345$287,734$273,335$338,139
61$348,406$275,178$255,837$335,562
62$356,449$261,167$236,913$332,254
63$364,446$245,604$216,489$328,156
64$372,365$228,385$194,488$323,201
65$380,171$209,400$170,828$317,321
66$387,823$188,535$145,425$310,440
67$395,274$165,667$118,190$302,477
68$402,475$140,667$89,032$293,347
69$409,366$113,398$57,853$282,955
70$415,885$83,718$24,554$271,202
71$421,958$51,473$0$257,979
72$427,506$16,504$0$245,396
73$432,438$0$0$236,559
74$436,656$0$0$233,189
75$440,047$0$0$234,596
76$442,488$0$0$235,442
77$443,841$0$0$235,646
78$443,953$0$0$235,122
79$442,654$0$0$233,770
80$439,755$0$0$231,482
81$435,047$0$0$228,138
82$428,297$0$0$223,603
83$419,249$0$0$217,730
84$407,616$0$0$210,355
85$393,083$0$0$201,296
86$375,300$0$0$190,351
87$353,881$0$0$177,298
88$328,396$0$0$161,891
89$298,372$0$0$143,858
90$263,284$0$0$122,897
91$222,554$0$0$98,676
92$175,540$0$0$70,826
93$121,535$0$0$38,942
94$59,756$0$0$2,573
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