Can I retire at age 61 with 284,000?

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 $284,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$23,452$23,244$23,040$22,841$22,647$21,957
2 years$11,610$11,394$11,184$10,981$10,784$10,095
3 years$7,663$7,446$7,237$7,036$6,842$6,175
4 years$5,690$5,474$5,267$5,069$4,880$4,241
5 years$4,507$4,291$4,087$3,893$3,709$3,099
6 years$3,718$3,504$3,303$3,114$2,935$2,355
7 years$3,155$2,943$2,745$2,560$2,387$1,837
8 years$2,732$2,523$2,328$2,147$1,980$1,459
9 years$2,404$2,196$2,005$1,829$1,668$1,175
10 years$2,142$1,936$1,748$1,577$1,421$957
11 years$1,927$1,723$1,539$1,372$1,222$785
12 years$1,749$1,547$1,366$1,204$1,059$648
13 years$1,598$1,398$1,220$1,063$923$538
14 years$1,468$1,271$1,096$943$810$449
15 years$1,356$1,161$990$841$713$375
16 years$1,258$1,065$897$753$630$315
17 years$1,172$981$817$677$559$265
18 years$1,095$906$745$610$497$223
19 years$1,027$840$682$551$443$188
20 years$965$781$626$499$395$159
21 years$910$727$576$453$354$135
22 years$859$679$531$412$317$114
23 years$813$635$490$375$285$96
24 years$771$595$453$342$256$82
25 years$732$558$420$312$230$69
26 years$697$525$389$286$207$59
27 years$664$494$362$261$187$50
28 years$633$465$336$240$169$42
29 years$605$439$313$220$152$36
30 years$578$414$291$202$138$31
31 years$553$392$272$185$124$26
32 years$530$371$253$170$113$22
33 years$509$351$237$156$102$19
34 years$488$333$221$144$92$16
35 years$469$316$207$133$84$14
36 years$451$300$193$122$76$12
37 years$434$284$181$112$69$10
38 years$418$270$170$104$62$8
39 years$403$257$159$96$56$7
40 years$388$245$149$88$51$6
41 years$375$233$140$81$46$5
42 years$362$222$131$75$42$4
43 years$349$211$123$69$38$4
44 years$337$201$115$64$35$3
45 years$326$192$108$59$32$3
46 years$316$183$102$55$29$2
47 years$305$175$96$50$26$2
48 years$296$167$90$47$24$2
49 years$286$159$84$43$21$1
50 years$277$152$79$40$19$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $284,000, adding $6,898 every year, while hoping to spend $20,172 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: 51/24/25 Blend
60$284,000$284,000$284,000$284,000
61$320,083$305,031$300,629$333,850
62$331,269$298,515$289,238$337,614
63$342,919$291,003$276,788$339,103
64$355,061$282,426$263,224$340,313
65$367,721$272,709$248,486$341,226
66$380,931$261,774$232,513$341,824
67$394,723$249,538$215,239$342,087
68$409,133$235,913$196,597$341,995
69$424,197$220,806$176,516$341,529
70$439,959$204,119$154,923$340,667
71$456,461$185,747$131,739$339,389
72$473,753$165,582$106,886$337,674
73$491,887$143,506$80,277$335,499
74$510,919$119,398$51,827$332,844
75$530,912$93,128$21,442$329,687
76$551,932$64,558$0$326,006
77$574,053$33,545$0$324,710
78$597,354$0$0$329,144
79$621,920$0$0$333,605
80$647,847$0$0$347,675
81$675,237$0$0$362,551
82$704,202$0$0$378,296
83$734,865$0$0$394,979
84$767,358$0$0$412,673
85$801,828$0$0$431,460
86$838,434$0$0$451,429
87$877,351$0$0$472,677
88$918,769$0$0$495,312
89$962,898$0$0$519,450
90$1,009,966$0$0$545,219
91$1,060,224$0$0$572,760
92$1,113,946$0$0$602,225
93$1,171,433$0$0$633,783
94$1,233,016$0$0$667,619
95$1,299,057$0$0$703,936
96$1,369,952$0$0$742,957
97$1,446,138$0$0$784,925
98$1,528,093$0$0$830,109
99$1,616,342$0$0$878,802
100$1,711,463$0$0$931,329