Can I retire at age 58 with 309,000?

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 $309,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$25,517$25,290$25,068$24,851$24,640$23,756
2 years$12,632$12,397$12,169$11,948$11,733$10,853
3 years$8,338$8,101$7,874$7,655$7,444$6,594
4 years$6,191$5,955$5,730$5,515$5,309$4,496
5 years$4,903$4,669$4,447$4,236$4,036$3,262
6 years$4,045$3,813$3,594$3,388$3,194$2,460
7 years$3,432$3,202$2,986$2,785$2,597$1,903
8 years$2,973$2,745$2,533$2,336$2,155$1,499
9 years$2,616$2,390$2,181$1,990$1,815$1,198
10 years$2,330$2,106$1,902$1,715$1,546$966
11 years$2,097$1,875$1,674$1,493$1,330$786
12 years$1,903$1,683$1,486$1,310$1,152$643
13 years$1,738$1,521$1,328$1,156$1,005$529
14 years$1,597$1,383$1,193$1,026$881$437
15 years$1,476$1,263$1,077$915$776$362
16 years$1,369$1,159$976$820$685$300
17 years$1,275$1,067$889$736$608$250
18 years$1,192$986$811$664$540$208
19 years$1,117$914$743$600$482$174
20 years$1,050$849$681$543$430$145
21 years$990$791$627$493$385$122
22 years$935$738$578$448$345$102
23 years$885$691$533$408$310$85
24 years$839$647$493$372$278$72
25 years$797$607$457$340$251$60
26 years$758$571$424$311$226$50
27 years$722$537$393$285$203$42
28 years$689$506$366$261$184$36
29 years$658$477$340$239$166$30
30 years$629$451$317$219$150$25
31 years$602$426$296$201$135$21
32 years$577$403$276$185$123$18
33 years$553$382$258$170$111$15
34 years$531$362$241$157$100$13
35 years$510$343$225$144$91$11
36 years$491$326$210$133$82$9
37 years$472$310$197$122$75$7
38 years$455$294$184$113$68$6
39 years$438$280$173$104$61$5
40 years$422$266$162$96$56$4
41 years$408$253$152$89$51$4
42 years$393$241$142$82$46$3
43 years$380$230$134$75$42$3
44 years$367$219$125$70$38$2
45 years$355$209$118$64$34$2
46 years$343$199$111$59$31$2
47 years$332$190$104$55$28$1
48 years$322$182$98$51$26$1
49 years$311$173$92$47$23$1
50 years$302$166$86$43$21$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $309,000, adding $5,802 every year, while hoping to spend $23,753 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: 34/50/16 Blend
57$309,000$309,000$309,000$309,000
58$346,503$330,126$325,336$356,390
59$356,573$321,029$310,962$355,032
60$366,874$310,690$295,310$350,933
61$377,405$299,024$278,313$346,001
62$388,163$285,939$259,899$340,179
63$399,145$271,339$239,994$333,401
64$410,345$255,122$218,522$325,599
65$421,759$237,181$195,401$316,702
66$433,377$217,402$170,546$306,633
67$445,192$195,665$143,869$295,311
68$457,191$171,842$115,278$282,650
69$469,362$145,799$84,677$268,559
70$481,688$117,395$51,966$252,940
71$494,153$86,480$17,039$235,692
72$506,733$52,894$0$216,704
73$519,405$16,471$0$199,317
74$532,141$0$0$183,280
75$544,908$0$0$178,209
76$557,670$0$0$182,172
77$570,385$0$0$186,093
78$583,006$0$0$189,952
79$595,478$0$0$193,728
80$607,743$0$0$197,397
81$619,731$0$0$200,934
82$631,368$0$0$204,309
83$642,566$0$0$207,489
84$653,232$0$0$210,437
85$663,256$0$0$213,112
86$672,520$0$0$215,468
87$680,889$0$0$217,454
88$688,215$0$0$219,013
89$694,331$0$0$220,080
90$699,053$0$0$220,587
91$702,174$0$0$220,455
92$703,465$0$0$219,596
93$702,673$0$0$217,913
94$699,515$0$0$215,301
95$693,678$0$0$211,640
96$684,814$0$0$206,798
97$672,537$0$0$200,630
98$656,422$0$0$192,975
99$635,994$0$0$183,652
100$610,730$0$0$172,465