Can I retire at age 57 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%14%
1 years$28,655$28,400$28,151$27,908$27,670$27,212
2 years$14,186$13,921$13,665$13,417$13,176$12,716
3 years$9,363$9,098$8,842$8,596$8,360$7,911
4 years$6,952$6,688$6,435$6,193$5,962$5,530
5 years$5,506$5,243$4,994$4,757$4,532$4,117
6 years$4,543$4,282$4,036$3,804$3,586$3,188
7 years$3,854$3,596$3,354$3,128$2,917$2,536
8 years$3,339$3,082$2,844$2,624$2,420$2,056
9 years$2,938$2,684$2,450$2,235$2,038$1,692
10 years$2,617$2,365$2,136$1,926$1,736$1,407
11 years$2,355$2,106$1,880$1,677$1,493$1,181
12 years$2,137$1,890$1,669$1,471$1,294$998
13 years$1,952$1,708$1,491$1,298$1,128$848
14 years$1,794$1,553$1,340$1,152$989$724
15 years$1,657$1,418$1,209$1,028$871$621
16 years$1,537$1,301$1,097$920$770$534
17 years$1,432$1,198$998$827$682$460
18 years$1,338$1,107$911$745$607$398
19 years$1,255$1,026$834$673$541$345
20 years$1,179$954$765$610$483$299
21 years$1,111$888$704$553$432$260
22 years$1,050$829$649$503$388$226
23 years$993$776$599$458$348$197
24 years$942$727$554$418$313$172
25 years$895$682$513$382$281$150
26 years$851$641$476$349$253$131
27 years$811$603$442$319$228$114
28 years$773$568$411$293$206$100
29 years$739$536$382$268$186$87
30 years$706$506$356$246$168$76
31 years$676$479$332$226$152$67
32 years$648$453$310$208$138$58
33 years$621$429$289$191$124$51
34 years$597$407$270$176$113$45
35 years$573$386$253$162$102$39
36 years$551$366$236$149$93$34
37 years$530$348$221$137$84$30
38 years$511$330$207$127$76$26
39 years$492$314$194$117$69$23
40 years$474$299$182$108$63$20
41 years$458$284$171$99$57$18
42 years$442$271$160$92$51$16
43 years$427$258$150$85$47$14
44 years$412$246$141$78$42$12
45 years$399$235$132$72$38$11
46 years$386$224$124$67$35$9
47 years$373$214$117$62$32$8
48 years$361$204$110$57$29$7
49 years$350$195$103$53$26$6
50 years$339$186$97$49$24$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $347,000, adding $4,690 every year, while hoping to spend $29,224 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: 41/30/29 Blend
56$347,000$347,000$347,000$347,000
57$387,232$368,841$363,462$399,648
58$395,635$355,820$344,544$396,057
59$403,916$341,181$324,013$389,103
60$412,032$324,815$301,783$381,024
61$419,933$306,605$277,767$371,734
62$427,566$286,428$251,871$361,143
63$434,867$264,153$223,999$349,152
64$441,770$239,643$194,049$335,657
65$448,197$212,752$161,917$320,545
66$454,063$183,327$127,491$303,698
67$459,272$151,204$90,656$284,986
68$463,717$116,213$51,292$264,270
69$467,280$78,171$9,275$241,404
70$469,829$36,888$0$216,227
71$471,217$0$0$199,573
72$471,281$0$0$186,621
73$469,838$0$0$185,141
74$466,690$0$0$182,863
75$461,611$0$0$179,686
76$454,355$0$0$175,498
77$444,646$0$0$170,173
78$432,182$0$0$163,574
79$416,626$0$0$155,547
80$397,604$0$0$145,922
81$374,704$0$0$134,513
82$347,469$0$0$121,112
83$315,394$0$0$105,490
84$277,921$0$0$87,393
85$234,432$0$0$66,542
86$184,245$0$0$42,626
87$126,604$0$0$15,303
88$60,676$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0