Can I retire at age 58 with 318,000?

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 $318,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$26,260$26,026$25,798$25,575$25,358$25,114
2 years$13,000$12,758$12,523$12,296$12,075$11,829
3 years$8,581$8,337$8,103$7,878$7,661$7,421
4 years$6,371$6,129$5,897$5,676$5,464$5,232
5 years$5,046$4,805$4,576$4,359$4,154$3,930
6 years$4,163$3,924$3,698$3,486$3,287$3,071
7 years$3,532$3,295$3,073$2,866$2,673$2,466
8 years$3,060$2,825$2,607$2,404$2,217$2,020
9 years$2,692$2,459$2,245$2,048$1,867$1,678
10 years$2,398$2,168$1,957$1,765$1,591$1,410
11 years$2,158$1,930$1,723$1,536$1,368$1,196
12 years$1,958$1,732$1,529$1,348$1,186$1,022
13 years$1,789$1,565$1,366$1,190$1,034$878
14 years$1,644$1,423$1,228$1,056$906$758
15 years$1,519$1,300$1,108$942$798$658
16 years$1,409$1,193$1,005$843$705$572
17 years$1,312$1,098$914$758$625$499
18 years$1,226$1,015$835$683$556$437
19 years$1,150$941$764$617$496$383
20 years$1,081$874$701$559$443$337
21 years$1,018$814$645$507$396$296
22 years$962$760$595$461$355$261
23 years$910$711$549$420$319$230
24 years$863$666$508$383$287$203
25 years$820$625$470$350$258$180
26 years$780$587$436$320$232$159
27 years$743$553$405$293$209$141
28 years$709$521$376$268$189$125
29 years$677$491$350$246$171$111
30 years$647$464$326$226$154$98
31 years$620$439$304$207$139$87
32 years$594$415$284$191$126$77
33 years$569$393$265$175$114$69
34 years$547$373$248$161$103$61
35 years$525$353$232$148$94$54
36 years$505$335$217$137$85$48
37 years$486$319$203$126$77$43
38 years$468$303$190$116$70$38
39 years$451$288$178$107$63$34
40 years$435$274$167$99$57$30
41 years$419$261$156$91$52$27
42 years$405$248$147$84$47$24
43 years$391$237$138$78$43$21
44 years$378$226$129$72$39$19
45 years$365$215$121$66$35$17
46 years$353$205$114$61$32$15
47 years$342$196$107$56$29$13
48 years$331$187$101$52$26$12
49 years$320$178$95$48$24$11
50 years$310$170$89$45$22$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $318,000, adding $6,686 every year, while hoping to spend $23,935 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: 59/20/21 Blend
57$318,000$318,000$318,000$318,000
58$357,333$340,479$335,550$376,058
59$368,314$331,695$321,324$380,760
60$379,613$321,680$305,819$382,702
61$391,237$310,346$288,968$384,288
62$403,194$297,603$270,699$385,489
63$415,489$283,355$250,937$386,273
64$428,131$267,501$229,605$386,606
65$441,125$249,933$206,621$386,453
66$454,478$230,539$181,902$385,775
67$468,196$209,197$155,357$384,533
68$482,286$185,781$126,895$382,683
69$496,753$160,158$96,420$380,181
70$511,601$132,185$63,829$376,977
71$526,835$101,713$29,018$373,021
72$542,459$68,584$0$368,257
73$558,477$32,631$0$364,452
74$574,890$0$0$366,777
75$591,699$0$0$370,078
76$608,906$0$0$380,805
77$626,508$0$0$391,774
78$644,504$0$0$402,984
79$662,889$0$0$414,432
80$681,658$0$0$426,114
81$700,803$0$0$438,023
82$720,314$0$0$450,153
83$740,177$0$0$462,495
84$760,378$0$0$475,039
85$780,898$0$0$487,771
86$801,714$0$0$500,676
87$822,800$0$0$513,738
88$844,124$0$0$526,934
89$865,652$0$0$540,241
90$887,342$0$0$553,632
91$909,146$0$0$567,074
92$931,010$0$0$580,533
93$952,872$0$0$593,966
94$974,661$0$0$607,327
95$996,297$0$0$620,563
96$1,017,689$0$0$633,615
97$1,038,737$0$0$646,416
98$1,059,325$0$0$658,890
99$1,079,324$0$0$670,952
100$1,098,589$0$0$682,508