Can I retire at age 58 with 332,000?

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 $332,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$27,416$27,172$26,934$26,701$26,474$26,352
2 years$13,572$13,320$13,075$12,837$12,607$12,483
3 years$8,958$8,705$8,460$8,225$7,998$7,877
4 years$6,652$6,399$6,157$5,926$5,704$5,587
5 years$5,268$5,017$4,778$4,551$4,336$4,223
6 years$4,346$4,097$3,861$3,640$3,431$3,322
7 years$3,688$3,440$3,209$2,992$2,791$2,685
8 years$3,194$2,949$2,721$2,510$2,315$2,214
9 years$2,811$2,568$2,344$2,138$1,950$1,853
10 years$2,504$2,263$2,043$1,843$1,661$1,568
11 years$2,253$2,015$1,799$1,604$1,429$1,340
12 years$2,044$1,808$1,597$1,407$1,238$1,153
13 years$1,868$1,634$1,426$1,242$1,080$999
14 years$1,716$1,485$1,282$1,103$946$869
15 years$1,585$1,357$1,157$983$833$760
16 years$1,471$1,245$1,049$881$736$667
17 years$1,370$1,147$955$791$653$587
18 years$1,280$1,060$871$713$581$518
19 years$1,200$982$798$644$517$458
20 years$1,128$912$732$583$462$406
21 years$1,063$850$673$530$414$360
22 years$1,004$793$621$481$371$320
23 years$950$742$573$438$333$285
24 years$901$695$530$400$299$254
25 years$856$652$491$365$269$227
26 years$814$613$455$334$242$203
27 years$776$577$423$306$219$181
28 years$740$544$393$280$197$162
29 years$707$513$366$257$178$145
30 years$676$484$341$236$161$130
31 years$647$458$318$216$146$116
32 years$620$433$296$199$132$104
33 years$595$410$277$183$119$94
34 years$571$389$259$168$108$84
35 years$548$369$242$155$98$75
36 years$527$350$226$143$89$68
37 years$507$333$212$131$80$61
38 years$489$316$198$121$73$55
39 years$471$301$186$112$66$49
40 years$454$286$174$103$60$44
41 years$438$272$163$95$54$40
42 years$423$259$153$88$49$36
43 years$408$247$144$81$45$32
44 years$394$235$135$75$41$29
45 years$381$225$127$69$37$26
46 years$369$214$119$64$33$23
47 years$357$204$112$59$30$21
48 years$345$195$105$54$28$19
49 years$335$186$99$50$25$17
50 years$324$178$93$47$23$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $332,000, adding $6,364 every year, while hoping to spend $24,867 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: 60/33/7 Blend
57$332,000$332,000$332,000$332,000
58$372,428$354,832$349,686$393,857
59$383,958$345,761$334,943$399,906
60$395,830$335,412$318,872$403,076
61$408,053$323,695$301,402$405,907
62$420,636$310,518$282,461$408,366
63$433,588$295,781$261,971$410,419
64$446,918$279,377$239,850$412,029
65$460,634$261,197$216,016$413,158
66$474,745$241,122$190,379$413,764
67$489,260$219,028$162,847$413,804
68$504,187$194,784$133,325$413,230
69$519,535$168,249$101,713$411,994
70$535,313$139,278$67,905$410,042
71$551,527$107,715$31,792$407,317
72$568,185$73,396$0$403,760
73$585,296$36,148$0$399,812
74$602,865$0$0$397,467
75$620,900$0$0$395,815
76$639,404$0$0$407,587
77$658,385$0$0$419,658
78$677,845$0$0$432,032
79$697,787$0$0$444,708
80$718,213$0$0$457,689
81$739,125$0$0$470,975
82$760,521$0$0$484,563
83$782,398$0$0$498,452
84$804,752$0$0$512,638
85$827,577$0$0$527,116
86$850,863$0$0$541,881
87$874,599$0$0$556,923
88$898,769$0$0$572,231
89$923,357$0$0$587,794
90$948,339$0$0$603,597
91$973,689$0$0$619,620
92$999,377$0$0$635,843
93$1,025,366$0$0$652,241
94$1,051,613$0$0$668,785
95$1,078,069$0$0$685,442
96$1,104,679$0$0$702,174
97$1,131,377$0$0$718,937
98$1,158,090$0$0$735,682
99$1,184,734$0$0$752,353
100$1,211,214$0$0$768,885