Can I retire at age 68 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%14.3%
1 years$28,655$28,400$28,151$27,908$27,670$27,178
2 years$14,186$13,921$13,665$13,417$13,176$12,682
3 years$9,363$9,098$8,842$8,596$8,360$7,879
4 years$6,952$6,688$6,435$6,193$5,962$5,499
5 years$5,506$5,243$4,994$4,757$4,532$4,087
6 years$4,543$4,282$4,036$3,804$3,586$3,160
7 years$3,854$3,596$3,354$3,128$2,917$2,509
8 years$3,339$3,082$2,844$2,624$2,420$2,031
9 years$2,938$2,684$2,450$2,235$2,038$1,668
10 years$2,617$2,365$2,136$1,926$1,736$1,385
11 years$2,355$2,106$1,880$1,677$1,493$1,160
12 years$2,137$1,890$1,669$1,471$1,294$978
13 years$1,952$1,708$1,491$1,298$1,128$830
14 years$1,794$1,553$1,340$1,152$989$707
15 years$1,657$1,418$1,209$1,028$871$605
16 years$1,537$1,301$1,097$920$770$519
17 years$1,432$1,198$998$827$682$447
18 years$1,338$1,107$911$745$607$385
19 years$1,255$1,026$834$673$541$333
20 years$1,179$954$765$610$483$288
21 years$1,111$888$704$553$432$250
22 years$1,050$829$649$503$388$217
23 years$993$776$599$458$348$188
24 years$942$727$554$418$313$164
25 years$895$682$513$382$281$143
26 years$851$641$476$349$253$124
27 years$811$603$442$319$228$108
28 years$773$568$411$293$206$94
29 years$739$536$382$268$186$82
30 years$706$506$356$246$168$72
31 years$676$479$332$226$152$63
32 years$648$453$310$208$138$55
33 years$621$429$289$191$124$48
34 years$597$407$270$176$113$42
35 years$573$386$253$162$102$36
36 years$551$366$236$149$93$32
37 years$530$348$221$137$84$28
38 years$511$330$207$127$76$24
39 years$492$314$194$117$69$21
40 years$474$299$182$108$63$19
41 years$458$284$171$99$57$16
42 years$442$271$160$92$51$14
43 years$427$258$150$85$47$12
44 years$412$246$141$78$42$11
45 years$399$235$132$72$38$10
46 years$386$224$124$67$35$8
47 years$373$214$117$62$32$7
48 years$361$204$110$57$29$6
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 68 starting with $347,000, adding $4,588 every year, while hoping to spend $28,428 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: 68/9/23 Blend
67$347,000$347,000$347,000$347,000
68$387,127$368,736$363,357$410,896
69$396,366$356,556$345,282$415,223
70$405,596$342,828$325,649$416,254
71$414,784$327,443$304,376$416,710
72$423,895$310,292$281,376$416,534
73$432,890$291,254$256,560$415,663
74$441,724$270,204$229,834$414,031
75$450,347$247,011$201,100$411,563
76$458,701$221,533$170,255$408,180
77$466,723$193,624$137,194$403,794
78$474,343$163,125$101,804$398,312
79$481,481$129,873$63,969$391,630
80$488,047$93,692$23,567$383,637
81$493,943$54,398$0$374,210
82$499,058$11,796$0$368,015
83$503,268$0$0$366,594
84$506,437$0$0$367,432
85$508,413$0$0$368,532
86$509,025$0$0$368,598
87$508,085$0$0$367,490
88$505,384$0$0$365,048
89$500,690$0$0$361,100
90$493,746$0$0$355,452
91$484,265$0$0$347,890
92$471,933$0$0$338,176
93$456,399$0$0$326,048
94$437,274$0$0$311,214
95$414,130$0$0$293,352
96$386,491$0$0$272,106
97$353,831$0$0$247,081
98$315,570$0$0$217,840
99$271,064$0$0$183,902
100$219,603$0$0$144,734