Can I retire at age 48 with 340,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$28,077$27,827$27,583$27,345$27,112$26,586
2 years$13,899$13,641$13,390$13,146$12,911$12,383
3 years$9,174$8,914$8,664$8,423$8,191$7,678
4 years$6,812$6,553$6,305$6,068$5,842$5,348
5 years$5,395$5,138$4,893$4,661$4,441$3,967
6 years$4,451$4,195$3,954$3,727$3,514$3,060
7 years$3,777$3,523$3,286$3,065$2,858$2,425
8 years$3,271$3,020$2,787$2,571$2,371$1,958
9 years$2,878$2,629$2,400$2,190$1,997$1,604
10 years$2,564$2,318$2,093$1,888$1,701$1,329
11 years$2,307$2,063$1,842$1,643$1,463$1,110
12 years$2,093$1,852$1,635$1,441$1,268$934
13 years$1,913$1,674$1,461$1,272$1,106$790
14 years$1,758$1,521$1,313$1,129$969$671
15 years$1,624$1,390$1,185$1,007$853$573
16 years$1,506$1,275$1,074$902$754$490
17 years$1,403$1,174$978$810$669$421
18 years$1,311$1,085$892$730$595$362
19 years$1,229$1,006$817$660$530$312
20 years$1,156$934$750$598$473$269
21 years$1,089$870$690$542$424$232
22 years$1,028$813$636$493$380$201
23 years$973$760$587$449$341$174
24 years$923$712$543$410$306$151
25 years$877$668$503$374$276$131
26 years$834$628$466$342$248$114
27 years$794$591$433$313$224$99
28 years$758$557$403$287$202$86
29 years$724$525$375$263$182$75
30 years$692$496$349$241$165$65
31 years$663$469$325$222$149$56
32 years$635$444$303$204$135$49
33 years$609$420$283$187$122$43
34 years$585$398$265$172$110$37
35 years$562$378$248$159$100$32
36 years$540$359$232$146$91$28
37 years$520$341$217$135$82$25
38 years$500$324$203$124$74$21
39 years$482$308$190$114$68$19
40 years$465$293$178$106$61$16
41 years$448$279$167$97$56$14
42 years$433$265$157$90$50$12
43 years$418$253$147$83$46$11
44 years$404$241$138$77$42$9
45 years$391$230$130$71$38$8
46 years$378$219$122$65$34$7
47 years$366$209$114$60$31$6
48 years$354$200$108$56$28$5
49 years$343$191$101$52$26$5
50 years$332$182$95$48$23$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 48 starting with $340,000, adding $6,583 every year, while hoping to spend $20,590 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: 71/11/18 Blend
47$340,000$340,000$340,000$340,000
48$381,470$363,450$358,180$406,472
49$398,473$359,352$348,272$419,864
50$416,519$354,362$337,341$431,433
51$435,695$348,417$325,333$443,576
52$456,092$341,445$312,188$456,347
53$477,812$333,375$297,845$469,805
54$500,966$324,128$282,240$484,017
55$525,677$313,622$265,307$499,056
56$552,076$301,770$246,975$515,004
57$580,311$288,480$227,172$531,950
58$610,542$273,654$205,821$549,994
59$642,944$257,190$182,842$569,248
60$677,709$238,977$158,153$589,833
61$715,050$218,902$131,666$611,887
62$755,199$196,842$103,290$635,560
63$798,410$172,668$72,931$661,019
64$844,963$146,244$40,490$688,448
65$895,166$117,426$5,863$718,053
66$949,356$86,063$0$750,060
67$1,007,904$51,994$0$790,692
68$1,071,218$15,050$0$835,844
69$1,139,747$0$0$884,719
70$1,213,981$0$0$940,701
71$1,294,465$0$0$1,003,384
72$1,381,792$0$0$1,071,414
73$1,476,618$0$0$1,145,301
74$1,579,664$0$0$1,225,611
75$1,691,722$0$0$1,312,961
76$1,813,664$0$0$1,408,035
77$1,946,451$0$0$1,511,583
78$2,091,136$0$0$1,624,430
79$2,248,884$0$0$1,747,486
80$2,420,972$0$0$1,881,750
81$2,608,808$0$0$2,028,324
82$2,813,942$0$0$2,188,419
83$3,038,078$0$0$2,363,371
84$3,283,096$0$0$2,554,647
85$3,551,063$0$0$2,763,864
86$3,844,254$0$0$2,992,804
87$4,165,177$0$0$3,243,428
88$4,516,591$0$0$3,517,894
89$4,901,537$0$0$3,818,579
90$5,323,361$0$0$4,148,104
91$5,785,750$0$0$4,509,351
92$6,292,763$0$0$4,905,496
93$6,848,874$0$0$5,340,038
94$7,459,006$0$0$5,816,830
95$8,128,586$0$0$6,340,117
96$8,863,589$0$0$6,914,572
97$9,670,598$0$0$7,545,347
98$10,556,864$0$0$8,238,114
99$11,530,374$0$0$8,999,122
100$12,599,929$0$0$9,835,255