Can I retire at age 58 with 407,000?

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 $407,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$33,610$33,310$33,018$32,733$32,455$31,303
2 years$16,638$16,329$16,028$15,737$15,455$14,307
3 years$10,982$10,671$10,371$10,083$9,805$8,697
4 years$8,155$7,844$7,548$7,264$6,993$5,933
5 years$6,458$6,150$5,857$5,580$5,316$4,307
6 years$5,328$5,022$4,734$4,462$4,206$3,249
7 years$4,521$4,217$3,934$3,668$3,421$2,515
8 years$3,916$3,615$3,336$3,077$2,838$1,983
9 years$3,446$3,148$2,873$2,621$2,390$1,585
10 years$3,069$2,774$2,505$2,260$2,036$1,279
11 years$2,762$2,470$2,205$1,966$1,751$1,041
12 years$2,506$2,217$1,957$1,725$1,518$853
13 years$2,289$2,003$1,749$1,523$1,323$702
14 years$2,104$1,821$1,571$1,352$1,160$580
15 years$1,943$1,664$1,419$1,206$1,021$480
16 years$1,803$1,526$1,286$1,079$903$399
17 years$1,679$1,406$1,170$970$800$332
18 years$1,570$1,299$1,068$874$712$277
19 years$1,471$1,204$978$790$634$232
20 years$1,383$1,119$898$715$567$194
21 years$1,304$1,042$826$649$507$162
22 years$1,231$973$761$590$455$136
23 years$1,165$910$703$538$408$114
24 years$1,105$852$650$490$367$96
25 years$1,049$800$602$448$330$80
26 years$998$752$558$409$297$68
27 years$951$707$518$375$268$57
28 years$907$667$482$343$242$48
29 years$866$629$448$315$218$40
30 years$828$594$418$289$197$34
31 years$793$561$389$265$178$28
32 years$760$531$363$244$161$24
33 years$729$503$339$224$146$20
34 years$700$477$317$206$132$17
35 years$672$452$296$190$120$14
36 years$646$429$277$175$108$12
37 years$622$408$259$161$98$10
38 years$599$387$243$149$89$8
39 years$577$368$228$137$81$7
40 years$556$351$213$126$73$6
41 years$537$334$200$117$67$5
42 years$518$318$188$108$60$4
43 years$500$303$176$99$55$4
44 years$484$289$165$92$50$3
45 years$467$275$155$85$45$3
46 years$452$263$146$78$41$2
47 years$438$251$137$72$37$2
48 years$424$239$129$67$34$2
49 years$410$228$121$62$31$1
50 years$397$218$114$57$28$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $407,000, adding $3,286 every year, while hoping to spend $28,126 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: 83/9/8 Blend
57$407,000$407,000$407,000$407,000
58$451,904$430,333$424,024$488,713
59$468,072$421,493$408,303$504,424
60$484,947$411,278$391,113$517,559
61$502,570$399,589$372,374$531,115
62$520,989$386,325$352,005$545,118
63$540,251$371,377$329,918$559,594
64$560,411$354,629$306,025$574,574
65$581,527$335,959$280,231$590,094
66$603,660$315,239$252,436$606,189
67$626,881$292,333$222,540$622,900
68$651,261$267,096$190,434$640,274
69$676,883$239,376$156,006$658,360
70$703,832$209,013$119,139$677,212
71$732,204$175,836$79,712$696,893
72$762,102$139,665$37,596$717,468
73$793,640$100,312$0$739,012
74$826,938$57,575$0$762,235
75$862,133$11,242$0$790,065
76$899,368$0$0$819,403
77$938,805$0$0$854,224
78$980,617$0$0$892,327
79$1,024,994$0$0$932,772
80$1,072,145$0$0$975,750
81$1,122,297$0$0$1,021,468
82$1,175,700$0$0$1,070,154
83$1,232,626$0$0$1,122,058
84$1,293,374$0$0$1,177,452
85$1,358,272$0$0$1,236,637
86$1,427,678$0$0$1,299,940
87$1,501,985$0$0$1,367,720
88$1,581,626$0$0$1,440,372
89$1,667,072$0$0$1,518,329
90$1,758,844$0$0$1,602,065
91$1,857,511$0$0$1,692,101
92$1,963,699$0$0$1,789,010
93$2,078,095$0$0$1,893,420
94$2,201,454$0$0$2,006,020
95$2,334,604$0$0$2,127,569
96$2,478,456$0$0$2,258,899
97$2,634,011$0$0$2,400,925
98$2,802,369$0$0$2,554,655
99$2,984,741$0$0$2,721,193
100$3,182,455$0$0$2,901,756