Can I retire at age 59 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%17.8%
1 years$28,655$28,400$28,151$27,908$27,670$26,795
2 years$14,186$13,921$13,665$13,417$13,176$12,303
3 years$9,363$9,098$8,842$8,596$8,360$7,515
4 years$6,952$6,688$6,435$6,193$5,962$5,153
5 years$5,506$5,243$4,994$4,757$4,532$3,760
6 years$4,543$4,282$4,036$3,804$3,586$2,852
7 years$3,854$3,596$3,354$3,128$2,917$2,221
8 years$3,339$3,082$2,844$2,624$2,420$1,761
9 years$2,938$2,684$2,450$2,235$2,038$1,416
10 years$2,617$2,365$2,136$1,926$1,736$1,150
11 years$2,355$2,106$1,880$1,677$1,493$942
12 years$2,137$1,890$1,669$1,471$1,294$777
13 years$1,952$1,708$1,491$1,298$1,128$644
14 years$1,794$1,553$1,340$1,152$989$535
15 years$1,657$1,418$1,209$1,028$871$447
16 years$1,537$1,301$1,097$920$770$374
17 years$1,432$1,198$998$827$682$314
18 years$1,338$1,107$911$745$607$264
19 years$1,255$1,026$834$673$541$222
20 years$1,179$954$765$610$483$187
21 years$1,111$888$704$553$432$158
22 years$1,050$829$649$503$388$133
23 years$993$776$599$458$348$113
24 years$942$727$554$418$313$95
25 years$895$682$513$382$281$81
26 years$851$641$476$349$253$68
27 years$811$603$442$319$228$58
28 years$773$568$411$293$206$49
29 years$739$536$382$268$186$42
30 years$706$506$356$246$168$35
31 years$676$479$332$226$152$30
32 years$648$453$310$208$138$25
33 years$621$429$289$191$124$22
34 years$597$407$270$176$113$18
35 years$573$386$253$162$102$15
36 years$551$366$236$149$93$13
37 years$530$348$221$137$84$11
38 years$511$330$207$127$76$9
39 years$492$314$194$117$69$8
40 years$474$299$182$108$63$7
41 years$458$284$171$99$57$6
42 years$442$271$160$92$51$5
43 years$427$258$150$85$47$4
44 years$412$246$141$78$42$4
45 years$399$235$132$72$38$3
46 years$386$224$124$67$35$3
47 years$373$214$117$62$32$2
48 years$361$204$110$57$29$2
49 years$350$195$103$53$26$2
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 59 starting with $347,000, adding $3,858 every year, while hoping to spend $21,022 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: 57/30/13 Blend
58$347,000$347,000$347,000$347,000
59$386,374$367,983$362,604$406,911
60$403,416$363,646$352,384$416,913
61$421,493$358,393$341,117$425,155
62$440,687$352,156$328,746$433,642
63$461,089$344,863$315,211$442,402
64$482,798$336,440$300,449$451,464
65$505,924$326,807$284,395$460,864
66$530,587$315,878$266,980$470,640
67$556,916$303,566$248,133$480,837
68$585,056$289,775$227,780$491,505
69$615,162$274,405$205,841$502,702
70$647,409$257,350$182,237$514,490
71$681,983$238,499$156,881$526,943
72$719,093$217,733$129,684$540,141
73$758,966$194,928$100,554$554,175
74$801,852$169,951$69,394$569,148
75$848,025$142,662$36,102$585,174
76$897,785$112,914$573$602,381
77$951,463$80,551$0$620,915
78$1,009,423$45,408$0$646,115
79$1,072,063$7,313$0$673,402
80$1,139,823$0$0$702,917
81$1,213,184$0$0$746,096
82$1,292,677$0$0$795,526
83$1,378,883$0$0$849,158
84$1,472,445$0$0$907,393
85$1,574,068$0$0$970,675
86$1,684,525$0$0$1,039,489
87$1,804,672$0$0$1,114,371
88$1,935,445$0$0$1,195,909
89$2,077,879$0$0$1,284,753
90$2,233,109$0$0$1,381,615
91$2,402,385$0$0$1,487,280
92$2,587,086$0$0$1,602,613
93$2,788,724$0$0$1,728,563
94$3,008,970$0$0$1,866,179
95$3,249,657$0$0$2,016,613
96$3,512,809$0$0$2,181,133
97$3,800,651$0$0$2,361,138
98$4,115,632$0$0$2,558,165
99$4,460,452$0$0$2,773,909
100$4,838,083$0$0$3,010,235