Can I retire at age 54 with 347,000?

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 $347,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$28,655$28,400$28,151$27,908$27,670$26,667
2 years$14,186$13,921$13,665$13,417$13,176$12,177
3 years$9,363$9,098$8,842$8,596$8,360$7,395
4 years$6,952$6,688$6,435$6,193$5,962$5,040
5 years$5,506$5,243$4,994$4,757$4,532$3,655
6 years$4,543$4,282$4,036$3,804$3,586$2,754
7 years$3,854$3,596$3,354$3,128$2,917$2,130
8 years$3,339$3,082$2,844$2,624$2,420$1,677
9 years$2,938$2,684$2,450$2,235$2,038$1,338
10 years$2,617$2,365$2,136$1,926$1,736$1,079
11 years$2,355$2,106$1,880$1,677$1,493$877
12 years$2,137$1,890$1,669$1,471$1,294$717
13 years$1,952$1,708$1,491$1,298$1,128$589
14 years$1,794$1,553$1,340$1,152$989$486
15 years$1,657$1,418$1,209$1,028$871$402
16 years$1,537$1,301$1,097$920$770$334
17 years$1,432$1,198$998$827$682$278
18 years$1,338$1,107$911$745$607$231
19 years$1,255$1,026$834$673$541$193
20 years$1,179$954$765$610$483$161
21 years$1,111$888$704$553$432$135
22 years$1,050$829$649$503$388$113
23 years$993$776$599$458$348$94
24 years$942$727$554$418$313$79
25 years$895$682$513$382$281$66
26 years$851$641$476$349$253$56
27 years$811$603$442$319$228$47
28 years$773$568$411$293$206$39
29 years$739$536$382$268$186$33
30 years$706$506$356$246$168$28
31 years$676$479$332$226$152$23
32 years$648$453$310$208$138$19
33 years$621$429$289$191$124$16
34 years$597$407$270$176$113$14
35 years$573$386$253$162$102$12
36 years$551$366$236$149$93$10
37 years$530$348$221$137$84$8
38 years$511$330$207$127$76$7
39 years$492$314$194$117$69$6
40 years$474$299$182$108$63$5
41 years$458$284$171$99$57$4
42 years$442$271$160$92$51$3
43 years$427$258$150$85$47$3
44 years$412$246$141$78$42$2
45 years$399$235$132$72$38$2
46 years$386$224$124$67$35$2
47 years$373$214$117$62$32$1
48 years$361$204$110$57$29$1
49 years$350$195$103$53$26$1
50 years$339$186$97$49$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $347,000, adding $2,273 every year, while hoping to spend $21,792 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: 53/23/24 Blend
53$347,000$347,000$347,000$347,000
54$384,739$366,348$360,969$402,462
55$400,795$361,112$349,875$409,698
56$417,760$354,890$337,679$415,134
57$435,701$347,609$324,321$420,598
58$454,695$339,194$309,738$426,101
59$474,825$329,566$293,866$431,657
60$496,181$318,639$276,634$437,280
61$518,863$306,324$257,973$442,990
62$542,978$292,525$237,806$448,809
63$568,646$277,143$216,057$454,761
64$595,996$260,071$192,643$460,877
65$625,170$241,197$167,479$467,192
66$656,324$220,402$140,476$473,746
67$689,629$197,561$111,541$480,585
68$725,270$172,541$80,577$487,763
69$763,454$145,202$47,483$495,340
70$804,405$115,395$12,153$503,386
71$848,371$82,966$0$511,980
72$895,621$47,747$0$527,755
73$946,453$9,566$0$548,016
74$1,001,194$0$0$569,793
75$1,060,201$0$0$601,288
76$1,123,870$0$0$637,909
77$1,192,631$0$0$677,488
78$1,266,961$0$0$720,300
79$1,347,383$0$0$766,651
80$1,434,470$0$0$816,875
81$1,528,853$0$0$871,341
82$1,631,228$0$0$930,454
83$1,742,358$0$0$994,659
84$1,863,083$0$0$1,064,446
85$1,994,326$0$0$1,140,353
86$2,137,105$0$0$1,222,973
87$2,292,536$0$0$1,312,960
88$2,461,851$0$0$1,411,030
89$2,646,403$0$0$1,517,975
90$2,847,683$0$0$1,634,662
91$3,067,332$0$0$1,762,051
92$3,307,153$0$0$1,901,193
93$3,569,136$0$0$2,053,250
94$3,855,467$0$0$2,219,497
95$4,168,556$0$0$2,401,342
96$4,511,055$0$0$2,600,331
97$4,885,884$0$0$2,818,170
98$5,296,258$0$0$3,056,736
99$5,745,719$0$0$3,318,095
100$6,238,166$0$0$3,604,525