Can I retire at age 58 with 420,000?

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 $420,000?

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$34,683$34,374$34,073$33,779$33,491$33,183
2 years$17,170$16,850$16,540$16,240$15,948$15,638
3 years$11,333$11,012$10,703$10,405$10,118$9,815
4 years$8,415$8,095$7,789$7,496$7,216$6,923
5 years$6,665$6,346$6,044$5,758$5,486$5,203
6 years$5,498$5,182$4,885$4,605$4,341$4,068
7 years$4,665$4,352$4,059$3,786$3,530$3,269
8 years$4,041$3,731$3,443$3,176$2,929$2,678
9 years$3,556$3,248$2,965$2,705$2,466$2,227
10 years$3,167$2,863$2,585$2,332$2,101$1,873
11 years$2,850$2,549$2,276$2,029$1,807$1,589
12 years$2,586$2,288$2,020$1,780$1,566$1,358
13 years$2,363$2,067$1,805$1,571$1,366$1,168
14 years$2,171$1,879$1,621$1,395$1,197$1,009
15 years$2,006$1,717$1,464$1,244$1,054$876
16 years$1,861$1,575$1,327$1,114$932$763
17 years$1,733$1,451$1,208$1,001$826$666
18 years$1,620$1,340$1,102$902$734$583
19 years$1,518$1,242$1,009$815$655$512
20 years$1,427$1,154$926$738$585$450
21 years$1,345$1,075$852$670$523$396
22 years$1,270$1,004$785$609$469$349
23 years$1,202$939$725$555$421$309
24 years$1,140$880$671$506$378$273
25 years$1,083$825$621$462$341$241
26 years$1,030$776$576$422$307$214
27 years$981$730$535$387$277$189
28 years$936$688$497$354$250$168
29 years$894$649$463$325$225$149
30 years$855$613$431$298$204$132
31 years$818$579$402$274$184$117
32 years$784$548$375$252$167$104
33 years$752$519$350$231$151$93
34 years$722$492$327$213$136$82
35 years$694$467$306$196$124$73
36 years$667$443$286$181$112$65
37 years$642$421$268$166$101$58
38 years$618$400$251$153$92$52
39 years$596$380$235$141$83$46
40 years$574$362$220$130$76$41
41 years$554$344$206$120$69$36
42 years$535$328$194$111$62$32
43 years$516$312$182$102$57$29
44 years$499$298$171$95$51$26
45 years$482$284$160$87$47$23
46 years$467$271$150$81$42$20
47 years$452$259$141$75$38$18
48 years$437$247$133$69$35$16
49 years$423$236$125$64$32$14
50 years$410$225$117$59$29$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $420,000, adding $5,941 every year, while hoping to spend $24,022 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: 34/46/20 Blend
57$420,000$420,000$420,000$420,000
58$468,968$446,708$440,198$481,865
59$491,244$443,038$429,386$488,230
60$514,986$438,382$417,406$492,455
61$540,320$432,668$404,194$496,512
62$567,381$425,817$389,683$500,401
63$596,319$417,747$373,802$504,123
64$627,297$408,370$356,478$507,682
65$660,495$397,594$337,633$511,086
66$696,109$385,319$317,188$514,343
67$734,355$371,443$295,057$517,466
68$775,470$355,855$271,152$520,475
69$819,715$338,439$245,383$523,390
70$867,375$319,072$217,653$526,240
71$918,764$297,623$187,861$529,059
72$974,227$273,955$155,902$531,888
73$1,034,142$247,923$121,669$534,776
74$1,098,925$219,372$85,046$537,781
75$1,169,034$188,140$45,913$540,972
76$1,244,972$154,055$4,148$544,429
77$1,327,291$116,936$0$548,244
78$1,416,600$76,591$0$561,152
79$1,513,568$32,818$0$576,154
80$1,618,928$0$0$592,537
81$1,733,491$0$0$617,884
82$1,858,147$0$0$663,594
83$1,993,875$0$0$713,421
84$2,141,752$0$0$767,768
85$2,302,964$0$0$827,077
86$2,478,817$0$0$891,838
87$2,670,747$0$0$962,587
88$2,880,335$0$0$1,039,916
89$3,109,322$0$0$1,124,475
90$3,359,624$0$0$1,216,982
91$3,633,351$0$0$1,318,225
92$3,932,826$0$0$1,429,074
93$4,260,607$0$0$1,550,486
94$4,619,511$0$0$1,683,515
95$5,012,639$0$0$1,829,322
96$5,443,407$0$0$1,989,184
97$5,915,577$0$0$2,164,511
98$6,433,292$0$0$2,356,852
99$7,001,115$0$0$2,567,917
100$7,624,073$0$0$2,799,586