Can I retire at age 58 with 419,000?

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 $419,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$34,601$34,292$33,992$33,698$33,412$32,303
2 years$17,129$16,810$16,501$16,201$15,910$14,804
3 years$11,306$10,986$10,677$10,380$10,094$9,025
4 years$8,395$8,076$7,770$7,478$7,199$6,176
5 years$6,649$6,331$6,030$5,744$5,473$4,498
6 years$5,485$5,170$4,873$4,594$4,330$3,404
7 years$4,654$4,342$4,050$3,777$3,522$2,644
8 years$4,031$3,722$3,434$3,168$2,922$2,092
9 years$3,547$3,240$2,958$2,699$2,460$1,678
10 years$3,160$2,856$2,579$2,326$2,096$1,360
11 years$2,843$2,543$2,270$2,024$1,803$1,111
12 years$2,580$2,282$2,015$1,776$1,562$913
13 years$2,357$2,062$1,800$1,568$1,362$755
14 years$2,166$1,875$1,617$1,392$1,194$626
15 years$2,001$1,713$1,460$1,241$1,052$521
16 years$1,856$1,571$1,324$1,111$929$435
17 years$1,729$1,447$1,205$998$824$364
18 years$1,616$1,337$1,100$900$733$305
19 years$1,515$1,239$1,007$813$653$256
20 years$1,424$1,152$924$736$583$215
21 years$1,342$1,073$850$668$522$181
22 years$1,267$1,001$783$608$468$152
23 years$1,200$936$723$553$420$128
24 years$1,137$877$669$505$378$108
25 years$1,080$823$620$461$340$91
26 years$1,028$774$575$421$306$77
27 years$979$728$534$386$276$65
28 years$934$686$496$353$249$55
29 years$892$647$462$324$225$46
30 years$853$611$430$297$203$39
31 years$816$578$401$273$184$33
32 years$782$547$374$251$166$28
33 years$750$518$349$231$150$24
34 years$720$491$326$212$136$20
35 years$692$466$305$196$123$17
36 years$665$442$285$180$112$14
37 years$640$420$267$166$101$12
38 years$617$399$250$153$92$10
39 years$594$379$234$141$83$9
40 years$573$361$220$130$75$7
41 years$553$344$206$120$68$6
42 years$533$327$193$111$62$5
43 years$515$312$181$102$56$4
44 years$498$297$170$94$51$4
45 years$481$283$160$87$46$3
46 years$465$270$150$81$42$3
47 years$450$258$141$74$38$2
48 years$436$246$132$69$35$2
49 years$422$235$125$64$32$2
50 years$409$225$117$59$29$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $419,000, adding $5,518 every year, while hoping to spend $23,104 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: 65/21/14 Blend
57$419,000$419,000$419,000$419,000
58$467,430$445,223$438,728$495,915
59$490,525$442,456$428,843$512,879
60$515,202$438,780$417,853$528,218
61$541,597$434,124$405,695$544,405
62$569,860$428,417$392,306$561,523
63$600,157$421,580$377,619$579,662
64$632,667$413,532$361,564$598,924
65$667,589$404,185$344,066$619,421
66$705,140$393,447$325,049$641,278
67$745,559$381,221$304,433$664,632
68$789,109$367,403$282,135$689,637
69$836,077$351,885$258,065$716,462
70$886,780$334,550$232,133$745,296
71$941,565$315,277$204,243$776,346
72$1,000,815$293,936$174,296$809,844
73$1,064,950$270,390$142,186$846,045
74$1,134,430$244,495$107,806$885,232
75$1,209,765$216,099$71,040$927,720
76$1,291,513$185,039$31,771$973,855
77$1,380,286$151,145$0$1,024,022
78$1,476,761$114,237$0$1,080,160
79$1,581,681$74,125$0$1,146,389
80$1,695,863$30,607$0$1,218,499
81$1,820,206$0$0$1,297,089
82$1,955,700$0$0$1,386,636
83$2,103,434$0$0$1,492,009
84$2,264,607$0$0$1,606,995
85$2,440,538$0$0$1,732,538
86$2,632,680$0$0$1,869,677
87$2,842,632$0$0$2,019,557
88$3,072,153$0$0$2,183,440
89$3,323,182$0$0$2,362,712
90$3,597,852$0$0$2,558,901
91$3,898,513$0$0$2,773,690
92$4,227,753$0$0$3,008,932
93$4,588,421$0$0$3,266,667
94$4,983,654$0$0$3,549,142
95$5,416,907$0$0$3,858,831
96$5,891,988$0$0$4,198,460
97$6,413,087$0$0$4,571,031
98$6,984,822$0$0$4,979,852
99$7,612,279$0$0$5,428,562
100$8,301,059$0$0$5,921,176