Can I retire at age 58 with 406,000?

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 $406,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$33,527$33,228$32,937$32,653$32,375$31,580
2 years$16,598$16,288$15,989$15,698$15,417$14,620
3 years$10,955$10,645$10,346$10,058$9,781$9,008
4 years$8,134$7,825$7,529$7,246$6,976$6,233
5 years$6,443$6,135$5,843$5,566$5,303$4,592
6 years$5,315$5,010$4,722$4,451$4,196$3,518
7 years$4,510$4,207$3,924$3,659$3,413$2,767
8 years$3,906$3,606$3,328$3,070$2,831$2,218
9 years$3,437$3,140$2,866$2,615$2,384$1,803
10 years$3,062$2,768$2,499$2,254$2,031$1,481
11 years$2,755$2,464$2,200$1,962$1,747$1,227
12 years$2,500$2,211$1,952$1,721$1,514$1,024
13 years$2,284$1,998$1,744$1,519$1,320$858
14 years$2,099$1,817$1,567$1,348$1,157$723
15 years$1,939$1,659$1,415$1,203$1,019$611
16 years$1,799$1,523$1,283$1,077$901$518
17 years$1,675$1,402$1,167$967$799$441
18 years$1,566$1,296$1,066$872$710$375
19 years$1,468$1,201$976$788$633$320
20 years$1,380$1,116$895$714$565$274
21 years$1,300$1,039$824$648$506$234
22 years$1,228$970$759$589$453$201
23 years$1,162$907$701$536$407$172
24 years$1,102$850$648$489$366$148
25 years$1,047$798$600$447$329$127
26 years$996$750$557$408$297$109
27 years$949$706$517$374$267$94
28 years$905$665$481$342$241$80
29 years$864$627$447$314$218$69
30 years$826$592$417$288$197$60
31 years$791$560$388$265$178$51
32 years$758$530$362$243$161$44
33 years$727$502$338$224$146$38
34 years$698$476$316$206$132$33
35 years$671$451$296$189$119$28
36 years$645$428$277$175$108$24
37 years$620$407$259$161$98$21
38 years$597$387$242$148$89$18
39 years$576$368$227$137$81$16
40 years$555$350$213$126$73$13
41 years$535$333$200$116$66$12
42 years$517$317$187$107$60$10
43 years$499$302$176$99$55$9
44 years$482$288$165$91$50$7
45 years$466$275$155$84$45$6
46 years$451$262$145$78$41$5
47 years$436$250$137$72$37$5
48 years$423$239$128$67$34$4
49 years$409$228$121$62$31$4
50 years$396$218$113$57$28$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $406,000, adding $5,234 every year, while hoping to spend $25,932 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: 78/12/10 Blend
57$406,000$406,000$406,000$406,000
58$452,811$431,293$425,000$486,954
59$471,406$424,835$411,646$503,674
60$491,029$417,191$396,975$518,139
61$511,757$408,276$380,917$533,254
62$533,674$398,000$363,396$549,071
63$556,873$386,266$344,334$565,650
64$581,455$372,974$323,650$583,055
65$607,529$358,015$301,257$601,360
66$635,215$341,276$277,068$620,644
67$664,646$322,637$250,988$640,996
68$695,964$301,972$222,921$662,513
69$729,328$279,144$192,765$685,303
70$764,911$254,013$160,413$709,486
71$802,900$226,428$125,755$735,194
72$843,503$196,230$88,675$762,574
73$886,946$163,251$49,052$791,785
74$933,480$127,315$6,760$823,008
75$983,375$88,235$0$856,439
76$1,036,933$45,811$0$896,392
77$1,094,481$0$0$940,049
78$1,156,380$0$0$986,993
79$1,223,026$0$0$1,044,059
80$1,294,853$0$0$1,105,572
81$1,372,340$0$0$1,171,942
82$1,456,011$0$0$1,243,621
83$1,546,443$0$0$1,321,104
84$1,644,270$0$0$1,404,934
85$1,750,187$0$0$1,495,712
86$1,864,961$0$0$1,594,094
87$1,989,435$0$0$1,700,804
88$2,124,533$0$0$1,816,639
89$2,271,276$0$0$1,942,472
90$2,430,782$0$0$2,079,268
91$2,604,284$0$0$2,228,085
92$2,793,139$0$0$2,390,088
93$2,998,839$0$0$2,566,559
94$3,223,025$0$0$2,758,910
95$3,467,505$0$0$2,968,694
96$3,734,267$0$0$3,197,619
97$4,025,501$0$0$3,447,568
98$4,343,616$0$0$3,720,610
99$4,691,266$0$0$4,019,027
100$5,071,371$0$0$4,345,328