Can I retire at age 58 with 390,000?

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 $390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$32,206$31,919$31,639$31,366$31,099$30,813
2 years$15,943$15,647$15,359$15,080$14,809$14,521
3 years$10,523$10,225$9,938$9,662$9,396$9,114
4 years$7,814$7,517$7,232$6,961$6,701$6,428
5 years$6,189$5,893$5,613$5,347$5,094$4,831
6 years$5,105$4,812$4,536$4,276$4,031$3,778
7 years$4,332$4,041$3,769$3,515$3,278$3,035
8 years$3,752$3,464$3,197$2,949$2,719$2,487
9 years$3,302$3,016$2,753$2,512$2,290$2,068
10 years$2,941$2,659$2,400$2,165$1,951$1,739
11 years$2,647$2,367$2,113$1,884$1,678$1,476
12 years$2,401$2,124$1,875$1,653$1,454$1,261
13 years$2,194$1,920$1,676$1,459$1,268$1,085
14 years$2,016$1,745$1,506$1,295$1,112$937
15 years$1,862$1,594$1,359$1,155$979$813
16 years$1,728$1,463$1,232$1,034$865$708
17 years$1,609$1,347$1,121$929$767$619
18 years$1,504$1,245$1,024$838$682$542
19 years$1,410$1,154$937$757$608$475
20 years$1,325$1,072$860$685$543$418
21 years$1,249$998$791$622$486$368
22 years$1,180$932$729$566$436$324
23 years$1,117$872$673$515$391$287
24 years$1,059$817$623$470$351$253
25 years$1,005$766$577$429$316$224
26 years$956$720$535$392$285$198
27 years$911$678$497$359$257$176
28 years$869$639$462$329$232$156
29 years$830$603$430$302$209$138
30 years$794$569$400$277$189$123
31 years$760$538$373$254$171$109
32 years$728$509$348$234$155$97
33 years$698$482$325$215$140$86
34 years$670$457$304$198$127$77
35 years$644$433$284$182$115$68
36 years$619$411$266$168$104$61
37 years$596$391$249$154$94$54
38 years$574$371$233$142$85$48
39 years$553$353$218$131$77$43
40 years$533$336$204$121$70$38
41 years$514$320$192$112$64$34
42 years$497$305$180$103$58$30
43 years$480$290$169$95$52$27
44 years$463$277$158$88$48$24
45 years$448$264$149$81$43$21
46 years$433$252$140$75$39$19
47 years$419$240$131$69$36$17
48 years$406$229$123$64$32$15
49 years$393$219$116$59$29$13
50 years$381$209$109$55$27$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $390,000, adding $5,321 every year, while hoping to spend $31,239 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: 78/17/5 Blend
57$390,000$390,000$390,000$390,000
58$435,269$414,599$408,554$468,695
59$446,428$401,676$389,002$478,441
60$457,679$387,073$367,749$484,503
61$468,997$370,674$344,703$490,213
62$480,355$352,359$319,772$495,522
63$491,724$331,996$292,856$500,374
64$503,066$309,450$263,853$504,711
65$514,343$284,577$232,656$508,465
66$525,508$257,225$199,153$511,567
67$536,512$227,231$163,227$513,936
68$547,297$194,425$124,755$515,488
69$557,797$158,628$83,610$516,128
70$567,940$119,649$39,660$515,753
71$577,646$77,287$0$514,249
72$586,823$31,331$0$511,881
73$595,368$0$0$510,410
74$603,169$0$0$511,027
75$610,098$0$0$516,749
76$616,015$0$0$521,593
77$620,761$0$0$525,424
78$624,162$0$0$528,090
79$626,022$0$0$529,423
80$626,125$0$0$529,238
81$624,230$0$0$527,328
82$620,070$0$0$523,461
83$613,350$0$0$517,385
84$603,740$0$0$508,815
85$590,876$0$0$497,438
86$574,356$0$0$482,909
87$553,731$0$0$464,841
88$528,507$0$0$442,809
89$498,137$0$0$416,343
90$462,015$0$0$384,921
91$419,470$0$0$347,966
92$369,760$0$0$304,841
93$312,067$0$0$254,841
94$245,483$0$0$197,186
95$169,008$0$0$131,016
96$81,535$0$0$55,378
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0