Can I retire at age 60 with 345,000?

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 $345,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$28,490$28,236$27,988$27,747$27,511$26,662
2 years$14,104$13,841$13,587$13,340$13,100$12,253
3 years$9,309$9,045$8,791$8,547$8,311$7,492
4 years$6,912$6,649$6,398$6,158$5,928$5,142
5 years$5,475$5,213$4,965$4,730$4,506$3,756
6 years$4,516$4,257$4,012$3,782$3,566$2,852
7 years$3,832$3,575$3,334$3,110$2,900$2,223
8 years$3,319$3,064$2,828$2,609$2,406$1,765
9 years$2,921$2,668$2,436$2,222$2,026$1,421
10 years$2,602$2,352$2,123$1,915$1,726$1,156
11 years$2,341$2,094$1,869$1,667$1,485$948
12 years$2,124$1,879$1,659$1,462$1,286$783
13 years$1,941$1,698$1,482$1,291$1,122$649
14 years$1,784$1,544$1,332$1,146$983$541
15 years$1,647$1,410$1,202$1,022$866$452
16 years$1,528$1,294$1,090$915$765$379
17 years$1,424$1,192$992$822$679$318
18 years$1,331$1,101$906$741$603$268
19 years$1,247$1,020$829$669$538$226
20 years$1,173$948$761$606$480$191
21 years$1,105$883$700$550$430$161
22 years$1,044$824$645$500$385$136
23 years$988$771$596$456$346$116
24 years$936$722$551$416$311$98
25 years$889$678$510$380$280$83
26 years$846$637$473$347$252$70
27 years$806$600$439$318$227$60
28 years$769$565$408$291$205$51
29 years$734$533$380$267$185$43
30 years$702$503$354$245$167$37
31 years$672$476$330$225$151$31
32 years$644$450$308$207$137$26
33 years$618$426$288$190$124$22
34 years$593$404$269$175$112$19
35 years$570$383$251$161$102$16
36 years$548$364$235$148$92$14
37 years$527$346$220$137$83$12
38 years$508$328$206$126$76$10
39 years$489$312$193$116$69$8
40 years$472$297$181$107$62$7
41 years$455$283$170$99$56$6
42 years$439$269$159$91$51$5
43 years$424$257$149$84$46$4
44 years$410$245$140$78$42$4
45 years$396$233$132$72$38$3
46 years$383$223$124$66$35$3
47 years$371$212$116$61$32$2
48 years$359$203$109$57$29$2
49 years$348$194$103$52$26$2
50 years$337$185$96$48$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $345,000, adding $6,336 every year, while hoping to spend $21,437 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: 58/12/30 Blend
59$345,000$345,000$345,000$345,000
60$386,726$368,441$363,093$405,645
61$403,363$363,685$352,448$414,583
62$420,979$357,979$340,728$421,544
63$439,650$351,251$327,874$428,702
64$459,461$343,430$313,825$436,081
65$480,505$334,436$298,516$443,712
66$502,882$324,189$281,882$451,628
67$526,702$312,601$263,851$459,867
68$552,086$299,579$244,351$468,472
69$579,167$285,026$223,305$477,490
70$608,090$268,840$200,633$486,979
71$639,013$250,911$176,252$496,998
72$672,110$231,123$150,074$507,619
73$707,572$209,355$122,009$518,919
74$745,609$185,479$91,961$530,987
75$786,451$159,357$59,831$543,922
76$830,349$130,845$25,516$557,835
77$877,581$99,793$0$572,850
78$928,451$66,039$0$592,662
79$983,292$29,414$0$622,818
80$1,042,471$0$0$655,353
81$1,106,391$0$0$691,857
82$1,175,495$0$0$735,543
83$1,250,270$0$0$782,839
84$1,331,250$0$0$834,086
85$1,419,024$0$0$889,658
86$1,514,238$0$0$949,970
87$1,617,604$0$0$1,015,474
88$1,729,905$0$0$1,086,671
89$1,852,000$0$0$1,164,111
90$1,984,837$0$0$1,248,397
91$2,129,456$0$0$1,340,195
92$2,287,006$0$0$1,440,237
93$2,458,746$0$0$1,549,328
94$2,646,065$0$0$1,668,356
95$2,850,492$0$0$1,798,295
96$3,073,707$0$0$1,940,222
97$3,317,564$0$0$2,095,317
98$3,584,099$0$0$2,264,884
99$3,875,558$0$0$2,450,356
100$4,194,410$0$0$2,653,311