Can I retire at age 58 with 355,000?

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 $355,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$29,316$29,054$28,800$28,551$28,308$28,153
2 years$14,513$14,242$13,980$13,726$13,480$13,324
3 years$9,579$9,308$9,046$8,795$8,552$8,400
4 years$7,113$6,842$6,583$6,336$6,100$5,951
5 years$5,633$5,364$5,109$4,867$4,637$4,494
6 years$4,647$4,380$4,129$3,892$3,669$3,531
7 years$3,943$3,679$3,431$3,200$2,984$2,851
8 years$3,416$3,153$2,910$2,684$2,475$2,348
9 years$3,005$2,745$2,506$2,286$2,085$1,963
10 years$2,677$2,420$2,185$1,971$1,776$1,659
11 years$2,409$2,154$1,924$1,715$1,528$1,416
12 years$2,186$1,934$1,707$1,504$1,324$1,217
13 years$1,997$1,747$1,525$1,328$1,154$1,053
14 years$1,835$1,588$1,370$1,179$1,012$915
15 years$1,695$1,451$1,237$1,052$891$799
16 years$1,573$1,331$1,122$942$787$700
17 years$1,465$1,226$1,021$846$698$615
18 years$1,369$1,133$932$762$621$542
19 years$1,283$1,050$853$689$553$479
20 years$1,207$976$783$624$494$424
21 years$1,137$909$720$566$442$376
22 years$1,074$848$664$515$396$333
23 years$1,016$793$613$469$356$296
24 years$964$743$567$428$320$264
25 years$915$698$525$391$288$235
26 years$871$656$487$357$259$210
27 years$829$617$452$327$234$187
28 years$791$581$420$299$211$167
29 years$756$549$391$275$190$149
30 years$723$518$364$252$172$134
31 years$692$490$340$231$156$119
32 years$663$463$317$213$141$107
33 years$636$439$296$196$127$96
34 years$610$416$276$180$115$86
35 years$586$394$258$166$104$77
36 years$564$374$242$153$95$69
37 years$543$356$226$141$86$62
38 years$522$338$212$130$78$55
39 years$503$321$199$119$71$50
40 years$485$306$186$110$64$45
41 years$468$291$174$102$58$40
42 years$452$277$164$94$53$36
43 years$437$264$154$87$48$32
44 years$422$252$144$80$43$29
45 years$408$240$135$74$39$26
46 years$394$229$127$68$36$23
47 years$382$219$119$63$32$21
48 years$369$209$112$58$29$19
49 years$358$199$106$54$27$17
50 years$347$190$99$50$24$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $355,000, adding $3,182 every year, while hoping to spend $30,860 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: 67/13/20 Blend
57$355,000$355,000$355,000$355,000
58$394,492$375,677$370,175$418,748
59$401,896$361,251$349,741$420,964
60$409,020$345,083$327,588$419,524
61$415,804$327,056$303,626$417,209
62$422,180$307,045$277,761$413,931
63$428,070$284,919$249,895$409,595
64$433,391$260,537$219,924$404,099
65$438,046$233,753$187,741$397,330
66$441,931$204,411$153,234$389,166
67$444,927$172,346$116,286$379,472
68$446,903$137,384$76,775$368,104
69$447,713$99,342$34,573$354,903
70$447,195$58,025$0$339,694
71$445,169$13,229$0$324,522
72$441,437$0$0$314,965
73$435,775$0$0$308,487
74$427,940$0$0$302,284
75$417,658$0$0$294,262
76$404,629$0$0$284,198
77$388,519$0$0$271,844
78$368,958$0$0$256,928
79$345,536$0$0$239,148
80$317,803$0$0$218,168
81$285,258$0$0$193,619
82$247,346$0$0$165,092
83$203,456$0$0$132,134
84$152,913$0$0$94,246
85$94,968$0$0$50,876
86$28,796$0$0$1,412
87$0$0$0$0
88$0$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