Can I retire at age 61 with 358,000?

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 $358,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$29,563$29,300$29,043$28,792$28,547$28,285
2 years$14,635$14,363$14,099$13,842$13,594$13,329
3 years$9,660$9,386$9,123$8,869$8,625$8,366
4 years$7,173$6,900$6,639$6,390$6,151$5,901
5 years$5,681$5,410$5,152$4,908$4,676$4,435
6 years$4,687$4,417$4,164$3,925$3,700$3,468
7 years$3,977$3,710$3,460$3,227$3,009$2,786
8 years$3,444$3,180$2,934$2,707$2,496$2,283
9 years$3,031$2,769$2,527$2,306$2,102$1,898
10 years$2,700$2,440$2,203$1,988$1,791$1,596
11 years$2,429$2,173$1,940$1,730$1,541$1,355
12 years$2,204$1,950$1,722$1,517$1,335$1,158
13 years$2,014$1,762$1,538$1,339$1,164$996
14 years$1,851$1,602$1,382$1,189$1,020$860
15 years$1,710$1,463$1,248$1,060$898$747
16 years$1,586$1,343$1,131$949$794$650
17 years$1,477$1,236$1,029$853$704$568
18 years$1,381$1,143$940$769$626$497
19 years$1,294$1,059$860$695$558$436
20 years$1,217$984$790$629$498$384
21 years$1,147$917$726$571$446$338
22 years$1,083$856$669$519$400$298
23 years$1,025$800$618$473$359$263
24 years$972$750$572$431$323$232
25 years$923$704$529$394$290$206
26 years$878$661$491$360$261$182
27 years$836$622$456$330$236$161
28 years$798$586$424$302$213$143
29 years$762$553$394$277$192$127
30 years$729$522$367$254$174$113
31 years$698$494$342$233$157$100
32 years$668$467$320$215$142$89
33 years$641$443$298$197$128$79
34 years$615$419$279$182$116$70
35 years$591$398$261$167$105$63
36 years$569$378$244$154$95$56
37 years$547$359$228$142$86$49
38 years$527$341$214$131$78$44
39 years$508$324$200$120$71$39
40 years$489$308$188$111$65$35
41 years$472$294$176$103$59$31
42 years$456$280$165$95$53$28
43 years$440$266$155$87$48$25
44 years$425$254$145$81$44$22
45 years$411$242$137$74$40$20
46 years$398$231$128$69$36$17
47 years$385$220$120$64$33$15
48 years$373$210$113$59$30$14
49 years$361$201$106$54$27$12
50 years$350$192$100$50$25$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $358,000, adding $4,654 every year, while hoping to spend $24,543 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: 87/5/8 Blend
60$358,000$358,000$358,000$358,000
61$399,317$380,343$374,794$433,327
62$413,933$372,866$361,236$448,729
63$429,218$364,200$346,401$461,780
64$445,214$354,261$330,221$475,336
65$461,966$342,960$312,623$489,432
66$479,524$330,203$293,533$504,102
67$497,942$315,889$272,873$519,388
68$517,277$299,913$250,560$535,334
69$537,594$282,163$226,508$551,986
70$558,962$262,522$200,629$569,398
71$581,454$240,864$172,829$587,627
72$605,154$217,058$143,010$606,736
73$630,149$190,963$111,070$626,796
74$656,536$162,433$76,903$647,882
75$684,422$131,311$40,398$670,079
76$713,921$97,433$1,440$693,478
77$745,159$60,625$0$718,182
78$778,273$20,704$0$747,728
79$813,414$0$0$779,167
80$850,746$0$0$813,761
81$890,448$0$0$851,766
82$932,717$0$0$892,230
83$977,768$0$0$935,359
84$1,025,836$0$0$981,378
85$1,077,180$0$0$1,030,536
86$1,132,082$0$0$1,083,104
87$1,190,852$0$0$1,139,378
88$1,253,831$0$0$1,199,685
89$1,321,392$0$0$1,264,382
90$1,393,943$0$0$1,333,861
91$1,471,934$0$0$1,408,554
92$1,555,859$0$0$1,488,932
93$1,646,258$0$0$1,575,515
94$1,743,726$0$0$1,668,873
95$1,848,917$0$0$1,769,632
96$1,962,548$0$0$1,878,480
97$2,085,408$0$0$1,996,174
98$2,218,365$0$0$2,123,544
99$2,362,370$0$0$2,261,505
100$2,518,473$0$0$2,411,060