Can I retire at age 61 with 398,000?

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 $398,000?

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$32,866$32,574$32,288$32,009$31,737$31,445
2 years$16,271$15,968$15,674$15,389$15,113$14,819
3 years$10,739$10,435$10,142$9,860$9,588$9,301
4 years$7,974$7,671$7,381$7,104$6,838$6,560
5 years$6,316$6,014$5,728$5,456$5,198$4,930
6 years$5,210$4,911$4,629$4,363$4,113$3,855
7 years$4,421$4,124$3,847$3,587$3,345$3,098
8 years$3,829$3,535$3,262$3,009$2,775$2,538
9 years$3,369$3,078$2,810$2,563$2,337$2,110
10 years$3,002$2,713$2,450$2,210$1,991$1,775
11 years$2,701$2,415$2,157$1,923$1,713$1,506
12 years$2,451$2,168$1,914$1,687$1,484$1,287
13 years$2,239$1,959$1,710$1,489$1,294$1,107
14 years$2,058$1,781$1,536$1,322$1,134$957
15 years$1,901$1,627$1,387$1,179$999$830
16 years$1,763$1,493$1,258$1,056$883$723
17 years$1,642$1,375$1,144$948$783$631
18 years$1,535$1,270$1,045$855$696$553
19 years$1,439$1,177$956$772$620$485
20 years$1,353$1,094$878$699$554$426
21 years$1,275$1,019$807$635$496$376
22 years$1,204$951$744$577$444$331
23 years$1,139$890$687$526$399$292
24 years$1,080$833$635$479$359$258
25 years$1,026$782$589$438$323$229
26 years$976$735$546$400$291$203
27 years$930$692$507$366$262$179
28 years$887$652$471$336$236$159
29 years$847$615$438$308$214$141
30 years$810$581$408$283$193$125
31 years$776$549$381$260$174$111
32 years$743$520$355$238$158$99
33 years$713$492$332$219$143$88
34 years$684$466$310$202$129$78
35 years$657$442$290$186$117$69
36 years$632$420$271$171$106$62
37 years$608$399$254$158$96$55
38 years$586$379$238$145$87$49
39 years$564$360$223$134$79$44
40 years$544$343$209$124$72$39
41 years$525$326$196$114$65$35
42 years$507$311$184$105$59$31
43 years$489$296$172$97$54$27
44 years$473$282$162$90$49$24
45 years$457$269$152$83$44$22
46 years$442$257$143$76$40$19
47 years$428$245$134$71$36$17
48 years$414$234$126$65$33$15
49 years$401$223$118$60$30$14
50 years$389$213$111$56$27$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $398,000, adding $6,898 every year, while hoping to spend $28,135 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: 40/38/22 Blend
60$398,000$398,000$398,000$398,000
61$445,711$424,617$418,448$460,398
62$461,238$415,488$402,531$462,459
63$477,406$404,969$385,137$461,500
64$494,251$392,961$366,188$459,895
65$511,810$379,362$345,601$457,601
66$530,125$364,061$323,290$454,571
67$549,241$346,943$299,163$450,760
68$569,206$327,886$273,127$446,117
69$590,071$306,758$245,083$440,592
70$611,893$283,424$214,928$434,132
71$634,732$257,738$182,554$426,680
72$658,655$229,547$147,849$418,180
73$683,731$198,688$110,696$408,571
74$710,039$164,991$70,972$397,792
75$737,662$128,275$28,548$385,778
76$766,692$88,349$0$372,463
77$797,227$45,010$0$361,705
78$829,375$0$0$356,914
79$863,253$0$0$352,160
80$898,989$0$0$367,019
81$936,722$0$0$382,731
82$976,604$0$0$399,360
83$1,018,801$0$0$416,980
84$1,063,494$0$0$435,669
85$1,110,879$0$0$455,513
86$1,161,173$0$0$476,607
87$1,214,612$0$0$499,053
88$1,271,455$0$0$522,964
89$1,331,983$0$0$548,464
90$1,396,507$0$0$575,688
91$1,465,365$0$0$604,784
92$1,538,929$0$0$635,915
93$1,617,605$0$0$669,258
94$1,701,840$0$0$705,010
95$1,792,123$0$0$743,384
96$1,888,990$0$0$784,615
97$1,993,032$0$0$828,963
98$2,104,893$0$0$876,711
99$2,225,285$0$0$928,169
100$2,354,985$0$0$983,679