Can I retire at age 61 with 300,000?

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 $300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$24,774$24,553$24,338$24,128$23,922$23,782
2 years$12,264$12,036$11,814$11,600$11,392$11,250
3 years$8,095$7,866$7,645$7,432$7,227$7,088
4 years$6,011$5,782$5,563$5,354$5,155$5,020
5 years$4,760$4,533$4,317$4,113$3,918$3,788
6 years$3,927$3,702$3,489$3,289$3,101$2,975
7 years$3,332$3,109$2,899$2,704$2,522$2,401
8 years$2,886$2,665$2,459$2,268$2,092$1,976
9 years$2,540$2,320$2,118$1,932$1,762$1,651
10 years$2,262$2,045$1,846$1,666$1,501$1,395
11 years$2,036$1,821$1,626$1,449$1,291$1,190
12 years$1,847$1,634$1,443$1,271$1,119$1,022
13 years$1,688$1,477$1,289$1,122$976$883
14 years$1,551$1,342$1,158$996$855$767
15 years$1,433$1,226$1,046$889$753$669
16 years$1,329$1,125$948$796$665$586
17 years$1,238$1,036$863$715$590$515
18 years$1,157$957$787$644$525$453
19 years$1,085$887$721$582$468$400
20 years$1,020$825$662$527$418$354
21 years$961$768$609$479$374$313
22 years$907$717$561$435$335$278
23 years$859$671$518$396$301$247
24 years$814$628$479$361$270$220
25 years$773$590$444$330$243$196
26 years$736$554$411$302$219$174
27 years$701$521$382$276$198$155
28 years$669$491$355$253$178$139
29 years$639$464$330$232$161$124
30 years$611$438$308$213$145$111
31 years$585$414$287$196$131$99
32 years$560$392$268$180$119$88
33 years$537$371$250$165$108$79
34 years$516$351$234$152$97$71
35 years$496$333$218$140$88$63
36 years$476$316$204$129$80$57
37 years$458$301$191$119$72$51
38 years$441$286$179$110$66$46
39 years$425$272$168$101$60$41
40 years$410$258$157$93$54$37
41 years$396$246$147$86$49$33
42 years$382$234$138$79$44$29
43 years$369$223$130$73$40$26
44 years$356$213$122$68$37$24
45 years$345$203$114$62$33$21
46 years$333$194$107$58$30$19
47 years$323$185$101$53$27$17
48 years$312$176$95$49$25$15
49 years$302$168$89$45$23$14
50 years$293$161$84$42$21$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $300,000, adding $6,251 every year, while hoping to spend $23,767 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: 54/38/8 Blend
60$300,000$300,000$300,000$300,000
61$337,048$321,148$316,498$354,262
62$346,139$311,596$301,813$357,074
63$355,361$300,780$285,839$356,990
64$364,701$288,612$268,508$356,328
65$374,147$275,000$249,750$355,037
66$383,682$259,847$229,488$353,063
67$393,288$243,050$207,647$350,346
68$402,944$224,500$184,143$346,825
69$412,624$204,081$158,892$342,432
70$422,303$181,672$131,806$337,095
71$431,948$157,144$102,792$330,736
72$441,524$130,361$71,752$323,273
73$450,990$101,179$38,587$314,614
74$460,301$69,448$3,190$304,665
75$469,406$35,005$0$293,322
76$478,248$0$0$283,426
77$486,763$0$0$273,358
78$494,877$0$0$277,673
79$502,510$0$0$281,685
80$509,573$0$0$285,342
81$515,963$0$0$288,581
82$521,570$0$0$291,336
83$526,268$0$0$293,532
84$529,916$0$0$295,084
85$532,361$0$0$295,901
86$533,430$0$0$295,879
87$532,930$0$0$294,902
88$530,651$0$0$292,846
89$526,354$0$0$289,566
90$519,779$0$0$284,909
91$510,636$0$0$278,699
92$498,601$0$0$270,744
93$483,319$0$0$260,832
94$464,395$0$0$248,727
95$441,392$0$0$234,168
96$413,825$0$0$216,867
97$381,161$0$0$196,503
98$342,805$0$0$172,723
99$298,105$0$0$145,138
100$246,336$0$0$113,315