Can I retire at age 63 with 342,000?

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 $342,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$28,242$27,990$27,745$27,505$27,272$26,842
2 years$13,981$13,721$13,468$13,224$12,986$12,555
3 years$9,228$8,967$8,715$8,473$8,239$7,819
4 years$6,852$6,591$6,342$6,104$5,876$5,470
5 years$5,427$5,168$4,922$4,688$4,467$4,077
6 years$4,477$4,220$3,978$3,749$3,535$3,161
7 years$3,799$3,544$3,305$3,083$2,875$2,517
8 years$3,290$3,038$2,803$2,586$2,385$2,043
9 years$2,895$2,645$2,414$2,203$2,008$1,683
10 years$2,579$2,331$2,105$1,899$1,711$1,402
11 years$2,321$2,075$1,853$1,652$1,472$1,178
12 years$2,106$1,863$1,645$1,449$1,275$996
13 years$1,924$1,683$1,469$1,280$1,112$848
14 years$1,768$1,530$1,320$1,136$975$725
15 years$1,633$1,398$1,192$1,013$858$622
16 years$1,515$1,283$1,081$907$759$536
17 years$1,411$1,181$983$815$673$463
18 years$1,319$1,091$898$734$598$401
19 years$1,236$1,012$822$664$533$347
20 years$1,162$940$754$601$476$302
21 years$1,095$876$694$545$426$263
22 years$1,035$817$639$496$382$229
23 years$979$764$590$452$343$200
24 years$928$716$546$412$308$174
25 years$882$672$506$376$277$152
26 years$839$632$469$344$250$133
27 years$799$594$436$315$225$116
28 years$762$560$405$289$203$102
29 years$728$528$377$265$183$89
30 years$696$499$351$243$166$78
31 years$666$472$327$223$150$69
32 years$639$446$305$205$136$60
33 years$612$423$285$188$123$53
34 years$588$401$266$173$111$46
35 years$565$380$249$160$101$41
36 years$543$361$233$147$91$36
37 years$523$343$218$135$83$31
38 years$503$326$204$125$75$27
39 years$485$310$191$115$68$24
40 years$468$295$179$106$62$21
41 years$451$280$168$98$56$19
42 years$435$267$158$90$51$16
43 years$421$254$148$83$46$14
44 years$406$243$139$77$42$13
45 years$393$231$130$71$38$11
46 years$380$221$122$66$34$10
47 years$368$211$115$61$31$9
48 years$356$201$108$56$28$7
49 years$345$192$102$52$26$7
50 years$334$183$96$48$23$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $342,000, adding $6,659 every year, while hoping to spend $26,807 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: 46/38/16 Blend
62$342,000$342,000$342,000$342,000
63$383,753$365,627$360,326$399,375
64$394,373$355,020$343,874$400,319
65$405,178$342,995$325,973$398,107
66$416,159$329,454$306,546$395,128
67$427,303$314,294$285,511$391,324
68$438,599$297,405$262,786$386,630
69$450,029$278,671$238,283$380,976
70$461,576$257,970$211,909$374,291
71$473,218$235,172$183,570$366,496
72$484,932$210,141$153,165$357,507
73$496,689$182,732$120,590$347,237
74$508,458$152,792$85,736$335,588
75$520,202$120,160$48,490$322,462
76$531,880$84,665$8,732$307,748
77$543,446$46,128$0$291,331
78$554,846$4,357$0$278,840
79$566,023$0$0$266,356
80$576,909$0$0$269,347
81$587,430$0$0$273,952
82$597,501$0$0$278,307
83$607,030$0$0$282,363
84$615,911$0$0$286,066
85$624,027$0$0$289,357
86$631,248$0$0$292,168
87$637,428$0$0$294,424
88$642,404$0$0$296,042
89$645,997$0$0$296,931
90$648,005$0$0$296,987
91$648,207$0$0$296,097
92$646,352$0$0$294,134
93$642,168$0$0$290,957
94$635,348$0$0$286,411
95$625,555$0$0$280,323
96$612,412$0$0$272,502
97$595,506$0$0$262,737
98$574,374$0$0$250,792
99$548,509$0$0$236,408
100$517,344$0$0$219,299