Can I retire at age 58 with 408,000?

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 $408,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$33,692$33,392$33,099$32,814$32,534$31,418
2 years$16,679$16,369$16,068$15,776$15,493$14,379
3 years$11,009$10,697$10,397$10,108$9,829$8,753
4 years$8,175$7,864$7,566$7,282$7,010$5,981
5 years$6,474$6,165$5,872$5,593$5,329$4,348
6 years$5,341$5,034$4,745$4,473$4,217$3,286
7 years$4,532$4,228$3,943$3,677$3,429$2,548
8 years$3,925$3,624$3,344$3,085$2,845$2,012
9 years$3,454$3,155$2,880$2,628$2,396$1,611
10 years$3,077$2,781$2,511$2,265$2,041$1,303
11 years$2,769$2,476$2,211$1,971$1,756$1,063
12 years$2,512$2,222$1,962$1,729$1,521$872
13 years$2,295$2,008$1,753$1,527$1,327$719
14 years$2,109$1,826$1,575$1,355$1,163$595
15 years$1,948$1,668$1,422$1,209$1,024$494
16 years$1,808$1,530$1,289$1,082$905$412
17 years$1,684$1,409$1,173$972$802$344
18 years$1,573$1,302$1,071$876$713$287
19 years$1,475$1,207$980$792$636$241
20 years$1,387$1,121$900$717$568$202
21 years$1,307$1,045$828$651$508$169
22 years$1,234$975$763$592$456$142
23 years$1,168$912$704$539$409$120
24 years$1,108$854$651$491$368$101
25 years$1,052$802$603$449$331$85
26 years$1,001$754$560$410$298$71
27 years$953$709$520$376$269$60
28 years$909$668$483$344$242$51
29 years$869$630$449$316$219$43
30 years$831$595$419$290$198$36
31 years$795$563$390$266$179$30
32 years$762$533$364$244$162$26
33 years$731$504$340$225$146$22
34 years$701$478$318$207$133$18
35 years$674$453$297$190$120$15
36 years$648$430$278$175$109$13
37 years$624$409$260$162$99$11
38 years$600$388$244$149$89$9
39 years$579$369$228$137$81$8
40 years$558$351$214$127$74$7
41 years$538$335$201$117$67$6
42 years$519$319$188$108$61$5
43 years$502$304$177$100$55$4
44 years$485$289$166$92$50$3
45 years$469$276$156$85$45$3
46 years$453$263$146$78$41$2
47 years$439$251$137$72$37$2
48 years$425$240$129$67$34$2
49 years$411$229$121$62$31$1
50 years$398$219$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 $408,000, adding $2,921 every year, while hoping to spend $26,734 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: 59/26/15 Blend
57$408,000$408,000$408,000$408,000
58$452,629$431,005$424,681$477,444
59$470,352$423,679$410,463$487,217
60$488,988$415,099$394,873$494,646
61$508,599$405,174$377,836$502,121
62$529,258$393,809$359,275$509,650
63$551,041$380,904$339,109$517,244
64$574,031$366,352$317,253$524,913
65$598,319$350,041$293,619$532,674
66$624,006$331,851$268,113$540,545
67$651,200$311,657$240,640$548,545
68$680,019$289,325$211,098$556,702
69$710,593$264,714$179,382$565,044
70$743,064$237,676$145,382$573,606
71$777,587$208,052$108,983$582,427
72$814,331$175,676$70,064$591,555
73$853,482$140,374$28,500$601,043
74$895,243$101,958$0$610,952
75$939,837$60,233$0$623,890
76$987,508$14,992$0$642,432
77$1,038,523$0$0$662,127
78$1,093,176$0$0$692,824
79$1,151,788$0$0$730,367
80$1,214,713$0$0$770,697
81$1,282,338$0$0$814,064
82$1,355,087$0$0$860,744
83$1,433,428$0$0$911,040
84$1,517,874$0$0$965,285
85$1,608,988$0$0$1,023,845
86$1,707,389$0$0$1,087,121
87$1,813,757$0$0$1,155,555
88$1,928,838$0$0$1,229,632
89$2,053,456$0$0$1,309,886
90$2,188,513$0$0$1,396,902
91$2,335,002$0$0$1,491,326
92$2,494,015$0$0$1,593,868
93$2,666,755$0$0$1,705,308
94$2,854,542$0$0$1,826,503
95$3,058,830$0$0$1,958,399
96$3,281,219$0$0$2,102,035
97$3,523,469$0$0$2,258,554
98$3,787,517$0$0$2,429,214
99$4,075,494$0$0$2,615,400
100$4,389,747$0$0$2,818,638