Can I retire at age 61 with 356,000?

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 $356,000?

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$29,398$29,136$28,881$28,631$28,388$27,512
2 years$14,554$14,282$14,020$13,765$13,518$12,644
3 years$9,606$9,334$9,072$8,819$8,576$7,730
4 years$7,133$6,861$6,602$6,354$6,117$5,306
5 years$5,649$5,379$5,123$4,880$4,650$3,876
6 years$4,660$4,393$4,140$3,903$3,679$2,943
7 years$3,954$3,689$3,441$3,209$2,992$2,294
8 years$3,425$3,162$2,918$2,692$2,482$1,822
9 years$3,014$2,753$2,513$2,293$2,091$1,466
10 years$2,685$2,427$2,191$1,976$1,781$1,193
11 years$2,416$2,160$1,929$1,720$1,532$978
12 years$2,192$1,939$1,712$1,509$1,328$807
13 years$2,003$1,752$1,530$1,332$1,158$670
14 years$1,840$1,593$1,374$1,182$1,015$558
15 years$1,700$1,455$1,241$1,054$893$467
16 years$1,577$1,335$1,125$944$790$391
17 years$1,469$1,230$1,024$848$700$329
18 years$1,373$1,136$934$765$623$277
19 years$1,287$1,053$855$691$555$233
20 years$1,210$978$785$626$496$197
21 years$1,140$911$722$568$444$166
22 years$1,077$851$666$516$398$141
23 years$1,019$796$615$470$357$119
24 years$966$746$568$429$321$101
25 years$918$700$526$392$289$86
26 years$873$658$488$358$260$73
27 years$832$619$453$328$234$62
28 years$793$583$421$300$212$52
29 years$758$550$392$275$191$44
30 years$725$520$365$253$173$38
31 years$694$491$341$232$156$32
32 years$665$465$318$213$141$27
33 years$638$440$297$196$128$23
34 years$612$417$277$180$116$20
35 years$588$396$259$166$105$17
36 years$565$375$242$153$95$14
37 years$544$357$227$141$86$12
38 years$524$339$213$130$78$10
39 years$505$322$199$120$71$9
40 years$487$307$187$111$64$7
41 years$470$292$175$102$58$6
42 years$453$278$164$94$53$5
43 years$438$265$154$87$48$5
44 years$423$252$145$80$43$4
45 years$409$241$136$74$39$3
46 years$396$230$128$68$36$3
47 years$383$219$120$63$33$2
48 years$370$209$113$58$30$2
49 years$359$200$106$54$27$2
50 years$348$191$99$50$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $356,000, adding $6,250 every year, while hoping to spend $28,451 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: 67/8/25 Blend
60$356,000$356,000$356,000$356,000
61$398,759$379,891$374,373$422,509
62$409,161$368,234$356,643$427,590
63$419,670$355,052$337,365$429,340
64$430,267$340,241$316,458$430,599
65$440,931$323,689$293,836$431,320
66$451,636$305,280$269,410$431,452
67$462,354$284,890$243,085$430,940
68$473,051$262,386$214,766$429,722
69$483,691$237,632$184,349$427,734
70$494,231$210,479$151,728$424,905
71$504,624$180,774$116,793$421,158
72$514,817$148,353$79,427$416,410
73$524,749$113,044$39,508$410,571
74$534,353$74,662$0$403,543
75$543,553$33,017$0$396,045
76$552,264$0$0$398,438
77$560,392$0$0$401,147
78$567,831$0$0$406,242
79$574,462$0$0$410,728
80$580,154$0$0$414,508
81$584,760$0$0$417,473
82$588,117$0$0$419,502
83$590,043$0$0$420,460
84$590,337$0$0$420,198
85$588,774$0$0$418,551
86$585,105$0$0$415,333
87$579,056$0$0$410,341
88$570,318$0$0$403,348
89$558,554$0$0$394,103
90$543,387$0$0$382,328
91$524,400$0$0$367,715
92$501,133$0$0$349,922
93$473,074$0$0$328,573
94$439,660$0$0$303,249
95$400,265$0$0$273,489
96$354,198$0$0$238,782
97$300,695$0$0$198,562
98$238,911$0$0$152,206
99$167,913$0$0$99,024
100$86,670$0$0$38,252