Can I retire at age 58 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%18.8%
1 years$28,655$28,400$28,151$27,908$27,670$26,689
2 years$14,186$13,921$13,665$13,417$13,176$12,198
3 years$9,363$9,098$8,842$8,596$8,360$7,415
4 years$6,952$6,688$6,435$6,193$5,962$5,058
5 years$5,506$5,243$4,994$4,757$4,532$3,672
6 years$4,543$4,282$4,036$3,804$3,586$2,770
7 years$3,854$3,596$3,354$3,128$2,917$2,144
8 years$3,339$3,082$2,844$2,624$2,420$1,691
9 years$2,938$2,684$2,450$2,235$2,038$1,351
10 years$2,617$2,365$2,136$1,926$1,736$1,091
11 years$2,355$2,106$1,880$1,677$1,493$888
12 years$2,137$1,890$1,669$1,471$1,294$727
13 years$1,952$1,708$1,491$1,298$1,128$598
14 years$1,794$1,553$1,340$1,152$989$494
15 years$1,657$1,418$1,209$1,028$871$410
16 years$1,537$1,301$1,097$920$770$340
17 years$1,432$1,198$998$827$682$283
18 years$1,338$1,107$911$745$607$236
19 years$1,255$1,026$834$673$541$198
20 years$1,179$954$765$610$483$165
21 years$1,111$888$704$553$432$138
22 years$1,050$829$649$503$388$116
23 years$993$776$599$458$348$97
24 years$942$727$554$418$313$82
25 years$895$682$513$382$281$69
26 years$851$641$476$349$253$58
27 years$811$603$442$319$228$48
28 years$773$568$411$293$206$41
29 years$739$536$382$268$186$34
30 years$706$506$356$246$168$29
31 years$676$479$332$226$152$24
32 years$648$453$310$208$138$20
33 years$621$429$289$191$124$17
34 years$597$407$270$176$113$14
35 years$573$386$253$162$102$12
36 years$551$366$236$149$93$10
37 years$530$348$221$137$84$9
38 years$511$330$207$127$76$7
39 years$492$314$194$117$69$6
40 years$474$299$182$108$63$5
41 years$458$284$171$99$57$4
42 years$442$271$160$92$51$4
43 years$427$258$150$85$47$3
44 years$412$246$141$78$42$3
45 years$399$235$132$72$38$2
46 years$386$224$124$67$35$2
47 years$373$214$117$62$32$2
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 58 starting with $347,000, adding $4,992 every year, while hoping to spend $21,817 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: 62/25/13 Blend
57$347,000$347,000$347,000$347,000
58$387,543$369,152$363,774$410,059
59$403,860$364,028$352,747$420,646
60$421,109$357,921$340,620$429,259
61$439,363$350,760$327,332$438,128
62$458,702$342,471$312,821$447,280
63$479,210$332,973$297,021$456,742
64$500,983$322,182$279,865$466,549
65$524,122$310,008$261,279$476,738
66$548,741$296,357$241,191$487,350
67$574,963$281,128$219,521$498,433
68$602,922$264,216$196,187$510,040
69$632,766$245,509$171,106$522,232
70$664,658$224,888$144,187$535,077
71$698,773$202,228$115,338$548,650
72$735,308$177,397$84,461$563,036
73$774,475$150,255$51,456$578,331
74$816,508$120,654$16,217$594,642
75$861,664$88,438$0$612,089
76$910,225$53,443$0$633,773
77$962,500$15,494$0$659,470
78$1,018,829$0$0$687,112
79$1,079,586$0$0$723,944
80$1,145,181$0$0$768,330
81$1,216,064$0$0$816,316
82$1,292,730$0$0$868,239
83$1,375,723$0$0$924,471
84$1,465,643$0$0$985,420
85$1,563,147$0$0$1,051,536
86$1,668,959$0$0$1,123,312
87$1,783,874$0$0$1,201,291
88$1,908,768$0$0$1,286,072
89$2,044,604$0$0$1,378,311
90$2,192,440$0$0$1,478,732
91$2,353,444$0$0$1,588,130
92$2,528,898$0$0$1,707,382
93$2,720,212$0$0$1,837,451
94$2,928,942$0$0$1,979,399
95$3,156,798$0$0$2,134,393
96$3,405,661$0$0$2,303,719
97$3,677,605$0$0$2,488,793
98$3,974,911$0$0$2,691,171
99$4,300,092$0$0$2,912,571
100$4,655,912$0$0$3,154,881