Can I retire at age 63 with 341,000?

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 $341,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$28,159$27,909$27,664$27,425$27,192$26,144
2 years$13,940$13,681$13,429$13,185$12,948$11,905
3 years$9,201$8,940$8,690$8,448$8,215$7,209
4 years$6,832$6,572$6,324$6,086$5,859$4,898
5 years$5,411$5,153$4,907$4,675$4,454$3,541
6 years$4,464$4,208$3,966$3,738$3,524$2,659
7 years$3,788$3,534$3,296$3,074$2,866$2,049
8 years$3,281$3,029$2,795$2,578$2,378$1,608
9 years$2,887$2,637$2,407$2,196$2,002$1,279
10 years$2,572$2,325$2,099$1,893$1,706$1,027
11 years$2,314$2,069$1,848$1,648$1,467$832
12 years$2,100$1,857$1,640$1,445$1,272$677
13 years$1,918$1,679$1,465$1,276$1,109$554
14 years$1,763$1,526$1,316$1,133$972$455
15 years$1,628$1,394$1,189$1,010$856$375
16 years$1,511$1,279$1,078$904$756$310
17 years$1,407$1,178$981$813$671$257
18 years$1,315$1,088$895$732$596$213
19 years$1,233$1,009$819$662$532$177
20 years$1,159$937$752$599$475$147
21 years$1,092$873$692$544$425$122
22 years$1,032$815$638$495$381$102
23 years$976$762$589$450$342$85
24 years$926$714$544$411$307$71
25 years$879$670$504$375$276$59
26 years$836$630$468$343$249$49
27 years$797$593$434$314$225$41
28 years$760$559$404$288$203$34
29 years$726$527$376$264$183$29
30 years$694$498$350$242$165$24
31 years$664$470$326$222$149$20
32 years$637$445$304$204$135$17
33 years$611$422$284$188$122$14
34 years$586$400$266$173$111$12
35 years$563$379$248$159$100$10
36 years$542$360$232$147$91$8
37 years$521$342$217$135$82$7
38 years$502$325$204$124$75$6
39 years$484$309$191$115$68$5
40 years$466$294$179$106$61$4
41 years$450$280$168$98$56$3
42 years$434$266$157$90$51$3
43 years$419$254$148$83$46$2
44 years$405$242$138$77$42$2
45 years$392$231$130$71$38$2
46 years$379$220$122$66$34$1
47 years$367$210$115$61$31$1
48 years$355$200$108$56$28$1
49 years$344$191$101$52$26$1
50 years$333$183$95$48$23$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $341,000, adding $3,655 every year, while hoping to spend $22,227 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: 53/42/5 Blend
62$341,000$341,000$341,000$341,000
63$379,552$361,479$356,194$399,060
64$394,617$355,542$344,477$406,731
65$410,474$348,570$331,622$412,312
66$427,179$340,487$317,569$417,841
67$444,796$331,215$302,252$423,314
68$463,393$320,672$285,605$428,732
69$483,042$308,768$267,556$434,096
70$503,826$295,412$248,033$439,408
71$525,833$280,503$226,959$444,673
72$549,159$263,939$204,253$449,896
73$573,909$245,608$179,831$455,086
74$600,199$225,394$153,607$460,255
75$628,155$203,174$125,488$465,418
76$657,915$178,817$95,380$470,592
77$689,629$152,186$63,182$475,801
78$723,463$123,135$28,791$481,071
79$759,598$91,511$0$486,434
80$798,233$57,151$0$492,353
81$839,585$19,883$0$500,115
82$883,893$0$0$508,245
83$931,418$0$0$526,272
84$982,447$0$0$555,517
85$1,037,297$0$0$586,977
86$1,096,313$0$0$620,851
87$1,159,874$0$0$657,361
88$1,228,398$0$0$696,751
89$1,302,343$0$0$739,288
90$1,382,214$0$0$785,264
91$1,468,562$0$0$835,003
92$1,561,997$0$0$888,858
93$1,663,187$0$0$947,221
94$1,772,868$0$0$1,010,519
95$1,891,847$0$0$1,079,225
96$2,021,013$0$0$1,153,855
97$2,161,344$0$0$1,234,981
98$2,313,917$0$0$1,323,230
99$2,479,913$0$0$1,419,292
100$2,660,635$0$0$1,523,927