Can I retire at age 59 with 348,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%13%
1 years$28,738$28,482$28,232$27,988$27,750$27,403
2 years$14,226$13,962$13,705$13,456$13,214$12,865
3 years$9,390$9,124$8,868$8,621$8,384$8,043
4 years$6,972$6,707$6,454$6,211$5,979$5,650
5 years$5,522$5,258$5,008$4,771$4,545$4,229
6 years$4,556$4,294$4,047$3,815$3,597$3,293
7 years$3,866$3,606$3,363$3,137$2,925$2,634
8 years$3,348$3,091$2,852$2,631$2,427$2,148
9 years$2,946$2,691$2,457$2,241$2,044$1,778
10 years$2,624$2,372$2,142$1,932$1,741$1,488
11 years$2,362$2,112$1,886$1,681$1,497$1,256
12 years$2,143$1,896$1,673$1,475$1,298$1,068
13 years$1,958$1,713$1,495$1,302$1,132$914
14 years$1,799$1,557$1,343$1,156$992$786
15 years$1,662$1,422$1,213$1,031$873$678
16 years$1,542$1,305$1,100$923$772$587
17 years$1,436$1,202$1,001$829$684$510
18 years$1,342$1,111$913$747$609$444
19 years$1,258$1,029$836$675$542$387
20 years$1,183$956$767$612$485$339
21 years$1,115$891$706$555$434$296
22 years$1,053$832$651$505$389$260
23 years$996$778$601$460$349$228
24 years$945$729$556$419$314$200
25 years$897$684$515$383$282$176
26 years$853$643$477$350$254$155
27 years$813$605$443$320$229$136
28 years$776$570$412$294$207$120
29 years$741$538$383$269$187$106
30 years$708$508$357$247$169$93
31 years$678$480$333$227$153$82
32 years$650$454$311$209$138$73
33 years$623$430$290$192$125$64
34 years$598$408$271$176$113$57
35 years$575$387$253$162$102$50
36 years$553$367$237$150$93$44
37 years$532$349$222$138$84$39
38 years$512$331$208$127$76$35
39 years$493$315$195$117$69$31
40 years$476$300$182$108$63$27
41 years$459$285$171$100$57$24
42 years$443$272$160$92$52$21
43 years$428$259$151$85$47$19
44 years$413$247$141$78$43$17
45 years$400$235$133$72$39$15
46 years$387$224$125$67$35$13
47 years$374$214$117$62$32$11
48 years$362$205$110$57$29$10
49 years$351$195$103$53$26$9
50 years$340$187$97$49$24$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $348,000, adding $5,698 every year, while hoping to spend $23,400 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: 46/43/11 Blend
58$348,000$348,000$348,000$348,000
59$389,373$370,929$365,535$405,831
60$404,192$364,208$352,884$411,078
61$419,738$356,372$339,023$413,905
62$436,061$347,344$323,890$416,444
63$453,214$337,038$307,415$418,678
64$471,256$325,367$289,528$420,588
65$490,250$312,237$270,153$422,154
66$510,266$297,547$249,214$423,360
67$531,379$281,192$226,628$424,186
68$553,671$263,062$202,312$424,613
69$577,232$243,038$176,175$424,625
70$602,159$220,997$148,127$424,205
71$628,559$196,806$118,069$423,335
72$656,549$170,326$85,901$422,002
73$686,256$141,411$51,518$420,191
74$717,819$109,905$14,809$417,890
75$751,392$75,645$0$415,091
76$787,139$38,458$0$414,646
77$825,245$0$0$415,731
78$865,909$0$0$417,492
79$909,350$0$0$438,837
80$955,808$0$0$461,691
81$1,005,547$0$0$486,185
82$1,058,854$0$0$512,466
83$1,116,048$0$0$540,694
84$1,177,474$0$0$571,043
85$1,243,516$0$0$603,707
86$1,314,590$0$0$638,896
87$1,391,158$0$0$676,843
88$1,473,723$0$0$717,804
89$1,562,842$0$0$762,058
90$1,659,122$0$0$809,914
91$1,763,235$0$0$861,711
92$1,875,915$0$0$917,819
93$1,997,974$0$0$978,650
94$2,130,300$0$0$1,044,652
95$2,273,872$0$0$1,116,322
96$2,429,766$0$0$1,194,203
97$2,599,166$0$0$1,278,894
98$2,783,374$0$0$1,371,054
99$2,983,823$0$0$1,471,409
100$3,202,088$0$0$1,580,756