Can I retire at age 58 with 331,000?

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 $331,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$27,334$27,090$26,853$26,621$26,394$25,387
2 years$13,532$13,280$13,035$12,798$12,569$11,566
3 years$8,931$8,678$8,435$8,200$7,974$7,007
4 years$6,632$6,379$6,138$5,908$5,687$4,764
5 years$5,252$5,002$4,764$4,538$4,323$3,445
6 years$4,333$4,084$3,850$3,629$3,421$2,589
7 years$3,677$3,430$3,199$2,983$2,782$1,996
8 years$3,185$2,940$2,713$2,503$2,308$1,567
9 years$2,802$2,560$2,337$2,132$1,944$1,247
10 years$2,496$2,256$2,037$1,838$1,656$1,002
11 years$2,246$2,009$1,794$1,599$1,424$812
12 years$2,038$1,803$1,592$1,403$1,234$662
13 years$1,862$1,629$1,422$1,238$1,076$542
14 years$1,711$1,481$1,278$1,099$944$446
15 years$1,581$1,353$1,154$980$831$367
16 years$1,466$1,241$1,046$878$734$304
17 years$1,366$1,143$952$789$651$252
18 years$1,277$1,056$869$711$579$209
19 years$1,197$979$795$642$516$174
20 years$1,125$910$730$582$461$144
21 years$1,060$847$671$528$412$120
22 years$1,001$791$619$480$370$100
23 years$948$740$571$437$332$84
24 years$898$693$528$399$298$70
25 years$853$650$489$364$268$58
26 years$812$611$454$333$242$49
27 years$773$575$422$305$218$41
28 years$738$542$392$279$197$34
29 years$705$511$365$256$178$28
30 years$674$483$340$235$160$24
31 years$645$457$317$216$145$20
32 years$618$432$295$198$131$17
33 years$593$409$276$182$119$14
34 years$569$388$258$168$108$12
35 years$547$368$241$154$97$10
36 years$526$349$225$142$88$8
37 years$506$332$211$131$80$7
38 years$487$315$198$121$73$6
39 years$469$300$185$111$66$5
40 years$453$285$174$103$60$4
41 years$437$271$163$95$54$3
42 years$421$258$153$87$49$3
43 years$407$246$143$81$45$2
44 years$393$235$134$75$40$2
45 years$380$224$126$69$37$2
46 years$368$214$119$64$33$1
47 years$356$204$111$59$30$1
48 years$344$195$105$54$27$1
49 years$334$186$98$50$25$1
50 years$323$177$92$46$23$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $331,000, adding $3,981 every year, while hoping to spend $20,711 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: 47/47/6 Blend
57$331,000$331,000$331,000$331,000
58$368,868$351,325$346,195$385,434
59$384,457$346,504$335,756$392,391
60$400,941$340,752$324,273$397,431
61$418,390$334,003$311,690$402,413
62$436,881$326,184$297,947$407,337
63$456,496$317,220$282,981$412,205
64$477,326$307,031$266,728$417,019
65$499,470$295,532$249,120$421,787
66$523,036$282,634$230,086$426,514
67$548,144$268,241$209,552$431,212
68$574,923$252,253$187,441$435,893
69$603,516$234,564$163,671$440,575
70$634,079$215,062$138,158$445,276
71$666,783$193,628$110,815$450,023
72$701,816$170,137$81,548$454,845
73$739,383$144,456$50,262$459,777
74$779,711$116,445$16,856$464,860
75$823,046$85,955$0$470,145
76$869,662$52,832$0$476,890
77$919,856$16,910$0$485,190
78$973,958$0$0$494,048
79$1,032,326$0$0$514,930
80$1,095,357$0$0$546,954
81$1,163,486$0$0$581,599
82$1,237,190$0$0$619,112
83$1,316,996$0$0$659,763
84$1,403,481$0$0$703,853
85$1,497,280$0$0$751,709
86$1,599,092$0$0$803,692
87$1,709,685$0$0$860,199
88$1,829,904$0$0$921,668
89$1,960,680$0$0$988,579
90$2,103,034$0$0$1,061,462
91$2,258,093$0$0$1,140,898
92$2,427,095$0$0$1,227,528
93$2,611,404$0$0$1,322,058
94$2,812,520$0$0$1,425,264
95$3,032,095$0$0$1,537,999
96$3,271,946$0$0$1,661,206
97$3,534,075$0$0$1,795,919
98$3,820,685$0$0$1,943,278
99$4,134,203$0$0$2,104,540
100$4,477,300$0$0$2,281,087