Can I retire at age 61 with 354,000?

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 $354,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$29,233$28,973$28,719$28,471$28,228$27,647
2 years$14,472$14,202$13,941$13,688$13,442$12,859
3 years$9,552$9,281$9,021$8,770$8,528$7,962
4 years$7,093$6,823$6,565$6,318$6,082$5,537
5 years$5,617$5,349$5,095$4,853$4,624$4,101
6 years$4,634$4,368$4,117$3,881$3,659$3,158
7 years$3,932$3,668$3,421$3,191$2,975$2,498
8 years$3,406$3,144$2,902$2,677$2,468$2,014
9 years$2,997$2,738$2,499$2,280$2,079$1,647
10 years$2,670$2,413$2,179$1,965$1,771$1,362
11 years$2,402$2,148$1,918$1,710$1,523$1,135
12 years$2,180$1,928$1,702$1,500$1,320$953
13 years$1,991$1,743$1,521$1,325$1,151$805
14 years$1,830$1,584$1,367$1,176$1,009$683
15 years$1,690$1,447$1,234$1,049$888$581
16 years$1,568$1,328$1,119$939$785$496
17 years$1,461$1,223$1,018$844$696$425
18 years$1,365$1,130$929$760$619$365
19 years$1,280$1,047$851$687$552$313
20 years$1,203$973$781$622$493$270
21 years$1,134$906$718$565$441$233
22 years$1,071$846$662$513$395$201
23 years$1,013$791$611$468$355$174
24 years$961$741$565$426$319$150
25 years$913$696$523$389$287$130
26 years$868$654$485$356$259$113
27 years$827$615$451$326$233$97
28 years$789$580$419$299$210$85
29 years$754$547$390$274$190$73
30 years$721$517$363$251$172$64
31 years$690$488$339$231$155$55
32 years$661$462$316$212$140$48
33 years$634$438$295$195$127$42
34 years$609$415$276$179$115$36
35 years$585$393$258$165$104$31
36 years$562$373$241$152$94$27
37 years$541$355$226$140$86$24
38 years$521$337$211$129$78$21
39 years$502$320$198$119$70$18
40 years$484$305$186$110$64$16
41 years$467$290$174$101$58$14
42 years$451$276$163$94$53$12
43 years$435$263$153$86$48$10
44 years$421$251$144$80$43$9
45 years$407$239$135$74$39$8
46 years$393$228$127$68$36$7
47 years$381$218$119$63$32$6
48 years$368$208$112$58$29$5
49 years$357$199$105$54$27$4
50 years$346$190$99$50$24$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $354,000, adding $6,684 every year, while hoping to spend $23,552 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: 34/44/22 Blend
60$354,000$354,000$354,000$354,000
61$397,003$378,241$372,754$407,644
62$412,438$371,715$360,182$409,590
63$428,658$364,081$346,399$409,060
64$445,718$355,258$331,341$408,008
65$463,679$345,163$314,938$406,402
66$482,605$333,707$297,120$404,209
67$502,568$320,796$277,811$401,396
68$523,646$306,331$256,933$397,929
69$545,923$290,206$234,405$393,771
70$569,491$272,310$210,142$388,887
71$594,451$252,526$184,054$383,240
72$620,914$230,728$156,049$376,794
73$649,000$206,787$126,029$369,509
74$678,840$180,561$93,893$361,349
75$710,579$151,906$59,535$352,276
76$744,374$120,665$22,845$342,251
77$780,397$86,674$0$331,238
78$818,837$49,762$0$323,030
79$859,903$9,744$0$319,733
80$903,819$0$0$315,975
81$950,835$0$0$328,011
82$1,001,224$0$0$346,001
83$1,055,285$0$0$365,339
84$1,113,346$0$0$386,146
85$1,175,767$0$0$408,558
86$1,242,945$0$0$432,721
87$1,315,313$0$0$458,796
88$1,393,349$0$0$486,963
89$1,477,576$0$0$517,416
90$1,568,571$0$0$550,369
91$1,666,966$0$0$586,060
92$1,773,457$0$0$624,746
93$1,888,809$0$0$666,715
94$2,013,862$0$0$712,279
95$2,149,541$0$0$761,783
96$2,296,862$0$0$815,608
97$2,456,945$0$0$874,171
98$2,631,018$0$0$937,931
99$2,820,436$0$0$1,007,395
100$3,026,688$0$0$1,083,118