Can I retire at age 58 with 344,000?

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 $344,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$28,407$28,154$27,907$27,666$27,431$26,910
2 years$14,063$13,801$13,547$13,301$13,062$12,540
3 years$9,282$9,019$8,766$8,522$8,287$7,779
4 years$6,892$6,630$6,379$6,140$5,911$5,421
5 years$5,459$5,198$4,951$4,716$4,493$4,023
6 years$4,503$4,245$4,001$3,771$3,555$3,105
7 years$3,821$3,565$3,325$3,101$2,891$2,462
8 years$3,310$3,056$2,820$2,601$2,399$1,989
9 years$2,912$2,660$2,429$2,216$2,020$1,631
10 years$2,594$2,345$2,117$1,910$1,721$1,352
11 years$2,334$2,088$1,864$1,662$1,480$1,130
12 years$2,118$1,874$1,654$1,458$1,283$951
13 years$1,935$1,693$1,478$1,287$1,119$805
14 years$1,778$1,539$1,328$1,143$981$685
15 years$1,643$1,406$1,199$1,019$863$584
16 years$1,524$1,290$1,087$912$763$500
17 years$1,420$1,188$989$820$677$430
18 years$1,327$1,098$903$739$602$370
19 years$1,244$1,017$827$668$536$319
20 years$1,169$945$759$605$479$275
21 years$1,102$881$698$549$429$238
22 years$1,041$822$643$499$384$206
23 years$985$769$594$454$345$179
24 years$934$720$549$414$310$155
25 years$887$676$509$378$279$135
26 years$844$635$472$346$251$117
27 years$804$598$438$317$227$102
28 years$767$563$407$290$204$88
29 years$732$532$379$266$185$77
30 years$700$502$353$244$167$67
31 years$670$475$329$224$151$58
32 years$642$449$307$206$136$51
33 years$616$425$287$190$123$44
34 years$591$403$268$174$112$39
35 years$568$382$250$161$101$34
36 years$546$363$234$148$92$29
37 years$526$345$219$136$83$26
38 years$506$327$205$126$75$22
39 years$488$311$192$116$68$19
40 years$470$296$180$107$62$17
41 years$454$282$169$99$56$15
42 years$438$269$159$91$51$13
43 years$423$256$149$84$46$11
44 years$409$244$140$78$42$10
45 years$395$233$131$72$38$9
46 years$382$222$123$66$35$7
47 years$370$212$116$61$31$7
48 years$358$202$109$56$29$6
49 years$347$193$102$52$26$5
50 years$336$184$96$48$24$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $344,000, adding $3,548 every year, while hoping to spend $26,342 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: 26/46/28 Blend
57$344,000$344,000$344,000$344,000
58$382,748$364,516$359,184$389,285
59$393,760$354,349$343,189$384,758
60$405,013$342,802$325,775$377,422
61$416,503$329,778$306,867$369,012
62$428,226$315,176$286,387$359,453
63$440,176$298,891$264,251$348,669
64$452,345$280,807$240,374$336,579
65$464,724$260,807$214,667$323,096
66$477,302$238,763$187,035$308,128
67$490,067$214,542$157,380$291,581
68$503,001$188,002$125,600$273,350
69$516,089$158,996$91,589$253,329
70$529,307$127,363$55,234$231,402
71$542,631$92,939$16,420$207,450
72$556,034$55,548$0$181,343
73$569,482$15,003$0$160,415
74$582,940$0$0$142,775
75$596,364$0$0$138,025
76$609,707$0$0$140,813
77$622,916$0$0$143,530
78$635,928$0$0$146,158
79$648,677$0$0$148,675
80$661,084$0$0$151,059
81$673,064$0$0$153,283
82$684,519$0$0$155,319
83$695,340$0$0$157,134
84$705,406$0$0$158,692
85$714,583$0$0$159,954
86$722,718$0$0$160,874
87$729,643$0$0$161,402
88$735,170$0$0$161,485
89$739,091$0$0$161,060
90$741,174$0$0$160,059
91$741,159$0$0$158,408
92$738,762$0$0$156,021
93$733,662$0$0$152,808
94$725,509$0$0$148,663
95$713,910$0$0$143,475
96$698,431$0$0$137,116
97$678,592$0$0$129,447
98$653,860$0$0$120,314
99$623,647$0$0$109,546
100$587,299$0$0$96,954