Can I retire at age 58 with 408,000?

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 $408,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$33,692$33,392$33,099$32,814$32,534$31,468
2 years$16,679$16,369$16,068$15,776$15,493$14,428
3 years$11,009$10,697$10,397$10,108$9,829$8,800
4 years$8,175$7,864$7,566$7,282$7,010$6,025
5 years$6,474$6,165$5,872$5,593$5,329$4,390
6 years$5,341$5,034$4,745$4,473$4,217$3,324
7 years$4,532$4,228$3,943$3,677$3,429$2,584
8 years$3,925$3,624$3,344$3,085$2,845$2,046
9 years$3,454$3,155$2,880$2,628$2,396$1,642
10 years$3,077$2,781$2,511$2,265$2,041$1,331
11 years$2,769$2,476$2,211$1,971$1,756$1,088
12 years$2,512$2,222$1,962$1,729$1,521$895
13 years$2,295$2,008$1,753$1,527$1,327$740
14 years$2,109$1,826$1,575$1,355$1,163$615
15 years$1,948$1,668$1,422$1,209$1,024$512
16 years$1,808$1,530$1,289$1,082$905$428
17 years$1,684$1,409$1,173$972$802$358
18 years$1,573$1,302$1,071$876$713$300
19 years$1,475$1,207$980$792$636$252
20 years$1,387$1,121$900$717$568$212
21 years$1,307$1,045$828$651$508$179
22 years$1,234$975$763$592$456$150
23 years$1,168$912$704$539$409$127
24 years$1,108$854$651$491$368$107
25 years$1,052$802$603$449$331$90
26 years$1,001$754$560$410$298$76
27 years$953$709$520$376$269$65
28 years$909$668$483$344$242$55
29 years$869$630$449$316$219$46
30 years$831$595$419$290$198$39
31 years$795$563$390$266$179$33
32 years$762$533$364$244$162$28
33 years$731$504$340$225$146$24
34 years$701$478$318$207$133$20
35 years$674$453$297$190$120$17
36 years$648$430$278$175$109$14
37 years$624$409$260$162$99$12
38 years$600$388$244$149$89$10
39 years$579$369$228$137$81$9
40 years$558$351$214$127$74$7
41 years$538$335$201$117$67$6
42 years$519$319$188$108$61$5
43 years$502$304$177$100$55$4
44 years$485$289$166$92$50$4
45 years$469$276$156$85$45$3
46 years$453$263$146$78$41$3
47 years$439$251$137$72$37$2
48 years$425$240$129$67$34$2
49 years$411$229$121$62$31$2
50 years$398$219$114$57$28$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $408,000, adding $5,531 every year, while hoping to spend $21,244 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: 41/44/15 Blend
57$408,000$408,000$408,000$408,000
58$455,321$433,697$427,373$471,764
59$479,161$432,345$419,087$482,563
60$504,719$430,214$409,811$491,738
61$532,151$427,245$399,489$501,212
62$561,623$423,373$388,065$511,021
63$593,319$418,529$375,476$521,208
64$627,443$412,642$361,660$531,822
65$664,216$405,635$346,549$542,917
66$703,882$397,427$330,074$554,555
67$746,709$387,932$312,163$566,807
68$792,992$377,060$292,739$579,751
69$843,055$364,713$271,724$593,479
70$897,253$350,791$249,033$608,089
71$955,978$335,185$224,581$623,697
72$1,019,660$317,781$198,276$640,430
73$1,088,772$298,459$170,025$658,431
74$1,163,834$277,091$139,728$677,861
75$1,245,419$253,542$107,283$698,901
76$1,334,156$227,669$72,581$721,753
77$1,430,738$199,323$35,510$746,643
78$1,535,927$168,343$0$773,823
79$1,650,561$134,562$0$804,224
80$1,775,564$97,802$0$843,622
81$1,911,952$57,874$0$886,697
82$2,060,843$14,582$0$933,865
83$2,223,468$0$0$985,584
84$2,401,182$0$0$1,057,997
85$2,595,476$0$0$1,144,936
86$2,807,994$0$0$1,240,081
87$3,040,543$0$0$1,344,250
88$3,295,116$0$0$1,458,341
89$3,573,905$0$0$1,583,344
90$3,879,325$0$0$1,720,349
91$4,214,036$0$0$1,870,557
92$4,580,966$0$0$2,035,291
93$4,983,342$0$0$2,216,006
94$5,424,717$0$0$2,414,308
95$5,909,003$0$0$2,631,962
96$6,440,512$0$0$2,870,917
97$7,023,992$0$0$3,133,315
98$7,664,673$0$0$3,421,519
99$8,368,317$0$0$3,738,131
100$9,141,271$0$0$4,086,018