Can I retire at age 60 with 344,000?

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 $344,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$28,407$28,154$27,907$27,666$27,431$27,133
2 years$14,063$13,801$13,547$13,301$13,062$12,763
3 years$9,282$9,019$8,766$8,522$8,287$7,995
4 years$6,892$6,630$6,379$6,140$5,911$5,628
5 years$5,459$5,198$4,951$4,716$4,493$4,220
6 years$4,503$4,245$4,001$3,771$3,555$3,293
7 years$3,821$3,565$3,325$3,101$2,891$2,640
8 years$3,310$3,056$2,820$2,601$2,399$2,158
9 years$2,912$2,660$2,429$2,216$2,020$1,790
10 years$2,594$2,345$2,117$1,910$1,721$1,502
11 years$2,334$2,088$1,864$1,662$1,480$1,271
12 years$2,118$1,874$1,654$1,458$1,283$1,084
13 years$1,935$1,693$1,478$1,287$1,119$930
14 years$1,778$1,539$1,328$1,143$981$801
15 years$1,643$1,406$1,199$1,019$863$693
16 years$1,524$1,290$1,087$912$763$602
17 years$1,420$1,188$989$820$677$524
18 years$1,327$1,098$903$739$602$458
19 years$1,244$1,017$827$668$536$401
20 years$1,169$945$759$605$479$351
21 years$1,102$881$698$549$429$308
22 years$1,041$822$643$499$384$271
23 years$985$769$594$454$345$239
24 years$934$720$549$414$310$210
25 years$887$676$509$378$279$186
26 years$844$635$472$346$251$164
27 years$804$598$438$317$227$145
28 years$767$563$407$290$204$128
29 years$732$532$379$266$185$113
30 years$700$502$353$244$167$100
31 years$670$475$329$224$151$89
32 years$642$449$307$206$136$78
33 years$616$425$287$190$123$69
34 years$591$403$268$174$112$62
35 years$568$382$250$161$101$55
36 years$546$363$234$148$92$48
37 years$526$345$219$136$83$43
38 years$506$327$205$126$75$38
39 years$488$311$192$116$68$34
40 years$470$296$180$107$62$30
41 years$454$282$169$99$56$27
42 years$438$269$159$91$51$24
43 years$423$256$149$84$46$21
44 years$409$244$140$78$42$19
45 years$395$233$131$72$38$16
46 years$382$222$123$66$35$15
47 years$370$212$116$61$31$13
48 years$358$202$109$56$29$12
49 years$347$193$102$52$26$10
50 years$336$184$96$48$24$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $344,000, adding $2,827 every year, while hoping to spend $28,730 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: 47/44/9 Blend
59$344,000$344,000$344,000$344,000
60$382,004$363,772$358,440$398,887
61$390,400$351,028$339,879$398,055
62$398,689$336,697$319,734$393,930
63$406,831$320,671$297,920$388,793
64$414,779$302,835$274,351$382,558
65$422,480$283,068$248,936$375,136
66$429,877$261,242$221,580$366,428
67$436,904$237,222$192,182$356,328
68$443,488$210,866$160,640$344,723
69$449,547$182,021$126,844$331,491
70$454,990$150,530$90,683$316,501
71$459,715$116,222$52,037$299,611
72$463,609$78,920$10,784$280,669
73$466,546$38,436$0$259,511
74$468,386$0$0$239,152
75$468,972$0$0$220,151
76$468,131$0$0$218,999
77$465,672$0$0$216,986
78$461,380$0$0$214,001
79$455,018$0$0$209,920
80$446,325$0$0$204,606
81$435,010$0$0$197,908
82$420,750$0$0$189,659
83$403,188$0$0$179,673
84$381,931$0$0$167,745
85$356,539$0$0$153,646
86$326,531$0$0$137,127
87$291,372$0$0$117,908
88$250,469$0$0$95,684
89$203,170$0$0$70,113
90$148,751$0$0$40,821
91$86,415$0$0$7,394
92$15,279$0$0$0
93$0$0$0$0
94$0$0$0$0
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