Can I retire at age 58 with 388,000?

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 $388,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$32,041$31,755$31,477$31,205$30,940$30,118
2 years$15,862$15,566$15,280$15,002$14,733$13,912
3 years$10,469$10,173$9,887$9,612$9,347$8,551
4 years$7,774$7,478$7,195$6,925$6,667$5,902
5 years$6,157$5,863$5,584$5,319$5,068$4,336
6 years$5,079$4,787$4,513$4,254$4,010$3,313
7 years$4,310$4,021$3,750$3,497$3,261$2,598
8 years$3,733$3,446$3,180$2,934$2,705$2,077
9 years$3,285$3,001$2,739$2,499$2,278$1,683
10 years$2,926$2,645$2,388$2,154$1,941$1,378
11 years$2,633$2,355$2,102$1,875$1,670$1,138
12 years$2,389$2,113$1,866$1,644$1,447$946
13 years$2,183$1,910$1,667$1,452$1,262$791
14 years$2,006$1,736$1,498$1,289$1,106$664
15 years$1,853$1,586$1,352$1,149$974$559
16 years$1,719$1,455$1,226$1,029$861$473
17 years$1,601$1,340$1,116$925$763$400
18 years$1,496$1,238$1,018$833$679$340
19 years$1,403$1,148$932$753$605$289
20 years$1,319$1,066$856$682$540$246
21 years$1,243$993$787$619$483$210
22 years$1,174$927$725$563$433$179
23 years$1,111$867$670$512$389$153
24 years$1,053$813$619$467$350$131
25 years$1,000$763$574$427$315$112
26 years$952$717$532$390$283$96
27 years$907$674$494$357$255$82
28 years$865$636$459$327$231$70
29 years$826$600$427$300$208$60
30 years$790$566$398$275$188$51
31 years$756$535$371$253$170$44
32 years$724$506$346$233$154$38
33 years$695$480$323$214$139$32
34 years$667$455$302$197$126$28
35 years$641$431$282$181$114$24
36 years$616$409$264$167$103$20
37 years$593$389$247$154$94$18
38 years$571$369$232$142$85$15
39 years$550$351$217$131$77$13
40 years$530$334$203$120$70$11
41 years$512$318$191$111$63$10
42 years$494$303$179$103$58$8
43 years$477$289$168$95$52$7
44 years$461$275$158$87$47$6
45 years$446$262$148$81$43$5
46 years$431$250$139$75$39$4
47 years$417$239$131$69$35$4
48 years$404$228$123$64$32$3
49 years$391$218$115$59$29$3
50 years$379$208$108$54$27$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $388,000, adding $4,337 every year, while hoping to spend $27,747 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: 79/8/13 Blend
57$388,000$388,000$388,000$388,000
58$432,050$411,486$405,472$464,745
59$446,596$402,126$389,532$477,503
60$461,696$391,377$372,129$487,491
61$477,378$379,143$353,184$497,656
62$493,669$365,320$332,614$508,003
63$510,601$349,799$310,335$518,539
64$528,208$332,464$286,256$529,271
65$546,524$313,194$260,285$540,207
66$565,589$291,860$232,324$551,356
67$585,443$268,325$202,270$562,730
68$606,130$242,444$170,018$574,341
69$627,697$214,067$135,456$586,202
70$650,197$183,030$98,469$598,328
71$673,683$149,165$58,934$610,737
72$698,216$112,291$16,725$623,449
73$723,859$72,219$0$636,487
74$750,683$28,747$0$653,803
75$778,761$0$0$674,229
76$808,176$0$0$697,109
77$839,016$0$0$723,753
78$871,376$0$0$751,715
79$905,361$0$0$781,085
80$941,083$0$0$811,959
81$978,664$0$0$844,446
82$1,018,240$0$0$878,662
83$1,059,954$0$0$914,732
84$1,103,965$0$0$952,793
85$1,150,446$0$0$992,998
86$1,199,585$0$0$1,035,508
87$1,251,588$0$0$1,080,503
88$1,306,680$0$0$1,128,177
89$1,365,104$0$0$1,178,744
90$1,427,130$0$0$1,232,438
91$1,493,050$0$0$1,289,512
92$1,563,185$0$0$1,350,245
93$1,637,886$0$0$1,414,943
94$1,717,537$0$0$1,483,941
95$1,802,559$0$0$1,557,603
96$1,893,413$0$0$1,636,331
97$1,990,604$0$0$1,720,564
98$2,094,687$0$0$1,810,786
99$2,206,269$0$0$1,907,523
100$2,326,017$0$0$2,011,357