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%19.2%
1 years$28,655$28,400$28,151$27,908$27,670$26,646
2 years$14,186$13,921$13,665$13,417$13,176$12,156
3 years$9,363$9,098$8,842$8,596$8,360$7,375
4 years$6,952$6,688$6,435$6,193$5,962$5,021
5 years$5,506$5,243$4,994$4,757$4,532$3,638
6 years$4,543$4,282$4,036$3,804$3,586$2,738
7 years$3,854$3,596$3,354$3,128$2,917$2,115
8 years$3,339$3,082$2,844$2,624$2,420$1,663
9 years$2,938$2,684$2,450$2,235$2,038$1,326
10 years$2,617$2,365$2,136$1,926$1,736$1,068
11 years$2,355$2,106$1,880$1,677$1,493$867
12 years$2,137$1,890$1,669$1,471$1,294$708
13 years$1,952$1,708$1,491$1,298$1,128$581
14 years$1,794$1,553$1,340$1,152$989$479
15 years$1,657$1,418$1,209$1,028$871$395
16 years$1,537$1,301$1,097$920$770$328
17 years$1,432$1,198$998$827$682$272
18 years$1,338$1,107$911$745$607$226
19 years$1,255$1,026$834$673$541$189
20 years$1,179$954$765$610$483$157
21 years$1,111$888$704$553$432$131
22 years$1,050$829$649$503$388$110
23 years$993$776$599$458$348$92
24 years$942$727$554$418$313$77
25 years$895$682$513$382$281$64
26 years$851$641$476$349$253$54
27 years$811$603$442$319$228$45
28 years$773$568$411$293$206$38
29 years$739$536$382$268$186$32
30 years$706$506$356$246$168$26
31 years$676$479$332$226$152$22
32 years$648$453$310$208$138$19
33 years$621$429$289$191$124$16
34 years$597$407$270$176$113$13
35 years$573$386$253$162$102$11
36 years$551$366$236$149$93$9
37 years$530$348$221$137$84$8
38 years$511$330$207$127$76$6
39 years$492$314$194$117$69$5
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 59 starting with $347,000, adding $2,936 every year, while hoping to spend $28,291 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: 80/13/7 Blend
58$347,000$347,000$347,000$347,000
59$385,422$367,031$361,653$415,731
60$394,634$354,915$343,667$423,890
61$403,837$341,256$324,130$428,813
62$413,001$325,950$302,961$433,362
63$422,091$308,885$280,074$437,483
64$431,067$289,943$255,379$441,121
65$439,885$268,999$228,783$444,212
66$448,495$245,923$200,190$446,687
67$456,842$220,573$169,496$448,471
68$464,861$192,803$136,596$449,481
69$472,484$162,457$101,379$449,624
70$479,631$129,370$63,728$448,802
71$486,213$93,370$23,523$446,904
72$492,134$54,272$0$443,810
73$497,282$11,882$0$440,834
74$501,537$0$0$438,352
75$504,761$0$0$439,322
76$506,805$0$0$440,945
77$507,500$0$0$441,374
78$506,659$0$0$440,442
79$504,076$0$0$437,968
80$499,519$0$0$433,749
81$492,735$0$0$427,559
82$483,440$0$0$419,150
83$471,321$0$0$408,244
84$456,031$0$0$394,535
85$437,186$0$0$377,684
86$414,359$0$0$357,316
87$387,080$0$0$333,016
88$354,828$0$0$304,323
89$317,027$0$0$270,730
90$273,039$0$0$231,675
91$222,161$0$0$186,536
92$163,613$0$0$134,626
93$96,534$0$0$75,187
94$19,976$0$0$7,380
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