Can I retire at age 54 with 348,000?

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 $348,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$28,738$28,482$28,232$27,988$27,750$26,992
2 years$14,226$13,962$13,705$13,456$13,214$12,456
3 years$9,390$9,124$8,868$8,621$8,384$7,649
4 years$6,972$6,707$6,454$6,211$5,979$5,274
5 years$5,522$5,258$5,008$4,771$4,545$3,871
6 years$4,556$4,294$4,047$3,815$3,597$2,954
7 years$3,866$3,606$3,363$3,137$2,925$2,314
8 years$3,348$3,091$2,852$2,631$2,427$1,847
9 years$2,946$2,691$2,457$2,241$2,044$1,495
10 years$2,624$2,372$2,142$1,932$1,741$1,223
11 years$2,362$2,112$1,886$1,681$1,497$1,009
12 years$2,143$1,896$1,673$1,475$1,298$838
13 years$1,958$1,713$1,495$1,302$1,132$699
14 years$1,799$1,557$1,343$1,156$992$586
15 years$1,662$1,422$1,213$1,031$873$493
16 years$1,542$1,305$1,100$923$772$416
17 years$1,436$1,202$1,001$829$684$352
18 years$1,342$1,111$913$747$609$298
19 years$1,258$1,029$836$675$542$253
20 years$1,183$956$767$612$485$215
21 years$1,115$891$706$555$434$183
22 years$1,053$832$651$505$389$156
23 years$996$778$601$460$349$133
24 years$945$729$556$419$314$114
25 years$897$684$515$383$282$97
26 years$853$643$477$350$254$83
27 years$813$605$443$320$229$71
28 years$776$570$412$294$207$60
29 years$741$538$383$269$187$52
30 years$708$508$357$247$169$44
31 years$678$480$333$227$153$38
32 years$650$454$311$209$138$32
33 years$623$430$290$192$125$28
34 years$598$408$271$176$113$24
35 years$575$387$253$162$102$20
36 years$553$367$237$150$93$17
37 years$532$349$222$138$84$15
38 years$512$331$208$127$76$13
39 years$493$315$195$117$69$11
40 years$476$300$182$108$63$9
41 years$459$285$171$100$57$8
42 years$443$272$160$92$52$7
43 years$428$259$151$85$47$6
44 years$413$247$141$78$43$5
45 years$400$235$133$72$39$4
46 years$387$224$125$67$35$4
47 years$374$214$117$62$32$3
48 years$362$205$110$57$29$3
49 years$351$195$103$53$26$2
50 years$340$187$97$49$24$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $348,000, adding $4,435 every year, while hoping to spend $20,631 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: 61/28/11 Blend
53$348,000$348,000$348,000$348,000
54$388,071$369,627$364,233$410,479
55$405,703$365,787$354,483$422,208
56$424,442$361,068$343,716$432,249
57$444,379$355,404$331,874$442,699
58$465,614$348,728$318,900$453,596
59$488,256$340,965$304,733$464,986
60$512,425$332,039$289,308$476,920
61$538,251$321,868$272,559$489,453
62$565,879$310,366$254,416$502,651
63$595,466$297,441$234,807$516,583
64$627,185$282,997$213,654$531,328
65$661,224$266,930$190,878$546,974
66$697,793$249,134$166,397$563,622
67$737,120$229,493$140,122$581,379
68$779,454$207,886$111,965$600,370
69$825,072$184,186$81,829$620,730
70$874,275$158,257$49,616$642,612
71$927,396$129,957$15,223$666,187
72$984,800$99,134$0$691,642
73$1,046,887$65,629$0$721,708
74$1,114,099$29,274$0$756,170
75$1,186,920$0$0$793,512
76$1,265,882$0$0$837,151
77$1,351,573$0$0$894,319
78$1,444,636$0$0$956,430
79$1,545,781$0$0$1,023,959
80$1,655,787$0$0$1,097,430
81$1,775,512$0$0$1,177,419
82$1,905,900$0$0$1,264,561
83$2,047,990$0$0$1,359,553
84$2,202,926$0$0$1,463,164
85$2,371,965$0$0$1,576,239
86$2,556,494$0$0$1,699,707
87$2,758,035$0$0$1,834,595
88$2,978,268$0$0$1,982,029
89$3,219,041$0$0$2,143,250
90$3,482,388$0$0$2,319,627
91$3,770,549$0$0$2,512,663
92$4,085,991$0$0$2,724,017
93$4,431,429$0$0$2,955,514
94$4,809,855$0$0$3,209,163
95$5,224,563$0$0$3,487,178
96$5,679,180$0$0$3,791,997
97$6,177,701$0$0$4,126,305
98$6,724,529$0$0$4,493,059
99$7,324,509$0$0$4,895,518
100$7,982,980$0$0$5,337,268