Can I retire at age 58 with 351,000?

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 $351,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$28,985$28,727$28,475$28,229$27,989$27,813
2 years$14,349$14,082$13,823$13,572$13,328$13,150
3 years$9,471$9,203$8,944$8,696$8,456$8,282
4 years$7,033$6,765$6,509$6,265$6,031$5,862
5 years$5,570$5,304$5,051$4,812$4,585$4,422
6 years$4,595$4,331$4,082$3,848$3,628$3,471
7 years$3,899$3,637$3,392$3,164$2,950$2,800
8 years$3,377$3,118$2,877$2,654$2,447$2,303
9 years$2,971$2,715$2,478$2,261$2,061$1,923
10 years$2,647$2,393$2,160$1,949$1,756$1,624
11 years$2,382$2,130$1,902$1,696$1,510$1,384
12 years$2,161$1,912$1,688$1,488$1,309$1,188
13 years$1,974$1,728$1,508$1,313$1,141$1,026
14 years$1,815$1,570$1,355$1,166$1,001$891
15 years$1,676$1,435$1,223$1,040$881$777
16 years$1,555$1,316$1,109$931$779$680
17 years$1,448$1,212$1,009$836$690$596
18 years$1,354$1,120$921$754$614$525
19 years$1,269$1,038$843$681$547$463
20 years$1,193$965$774$617$489$409
21 years$1,124$899$712$560$437$362
22 years$1,062$839$656$509$392$321
23 years$1,005$785$606$464$352$285
24 years$953$735$560$423$316$253
25 years$905$690$519$386$285$225
26 years$861$648$481$353$256$201
27 years$820$610$447$323$231$179
28 years$782$575$416$296$209$159
29 years$747$542$387$272$188$142
30 years$714$512$360$249$170$127
31 years$684$484$336$229$154$113
32 years$655$458$313$210$139$101
33 years$629$434$293$193$126$91
34 years$603$411$273$178$114$81
35 years$580$390$256$164$103$72
36 years$557$370$239$151$94$65
37 years$536$352$224$139$85$58
38 years$517$334$210$128$77$52
39 years$498$318$196$118$70$47
40 years$480$302$184$109$63$42
41 years$463$288$173$101$57$37
42 years$447$274$162$93$52$33
43 years$432$261$152$86$47$30
44 years$417$249$143$79$43$27
45 years$403$237$134$73$39$24
46 years$390$226$126$67$35$22
47 years$377$216$118$62$32$19
48 years$365$206$111$58$29$17
49 years$354$197$104$53$26$16
50 years$343$188$98$49$24$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $351,000, adding $5,998 every year, while hoping to spend $30,002 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: 23/50/27 Blend
57$351,000$351,000$351,000$351,000
58$392,989$374,386$368,945$398,572
59$401,152$360,809$349,383$390,234
60$409,142$345,561$328,160$378,396
61$416,910$328,529$305,189$365,081
62$424,400$309,592$280,378$350,185
63$431,551$288,624$253,633$333,599
64$438,292$265,490$224,853$315,208
65$444,548$240,049$193,935$294,889
66$450,230$212,149$160,770$272,510
67$455,242$181,633$125,244$247,933
68$459,476$148,333$87,240$221,009
69$462,814$112,073$46,633$191,581
70$465,120$72,664$3,295$159,481
71$466,248$29,909$0$124,529
72$466,032$0$0$98,912
73$464,288$0$0$80,890
74$460,815$0$0$78,851
75$455,386$0$0$76,280
76$447,752$0$0$73,112
77$437,635$0$0$69,276
78$424,729$0$0$64,693
79$408,695$0$0$59,275
80$389,155$0$0$52,927
81$365,693$0$0$45,540
82$337,848$0$0$36,998
83$305,112$0$0$27,168
84$266,920$0$0$15,908
85$222,648$0$0$3,057
86$171,609$0$0$0
87$113,041$0$0$0
88$46,102$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0