Can I retire at age 63 with 344,000?

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 $344,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$28,407$28,154$27,907$27,666$27,431$27,156
2 years$14,063$13,801$13,547$13,301$13,062$12,785
3 years$9,282$9,019$8,766$8,522$8,287$8,017
4 years$6,892$6,630$6,379$6,140$5,911$5,649
5 years$5,459$5,198$4,951$4,716$4,493$4,241
6 years$4,503$4,245$4,001$3,771$3,555$3,313
7 years$3,821$3,565$3,325$3,101$2,891$2,659
8 years$3,310$3,056$2,820$2,601$2,399$2,176
9 years$2,912$2,660$2,429$2,216$2,020$1,807
10 years$2,594$2,345$2,117$1,910$1,721$1,518
11 years$2,334$2,088$1,864$1,662$1,480$1,286
12 years$2,118$1,874$1,654$1,458$1,283$1,098
13 years$1,935$1,693$1,478$1,287$1,119$943
14 years$1,778$1,539$1,328$1,143$981$814
15 years$1,643$1,406$1,199$1,019$863$705
16 years$1,524$1,290$1,087$912$763$613
17 years$1,420$1,188$989$820$677$535
18 years$1,327$1,098$903$739$602$468
19 years$1,244$1,017$827$668$536$410
20 years$1,169$945$759$605$479$360
21 years$1,102$881$698$549$429$316
22 years$1,041$822$643$499$384$279
23 years$985$769$594$454$345$246
24 years$934$720$549$414$310$217
25 years$887$676$509$378$279$191
26 years$844$635$472$346$251$169
27 years$804$598$438$317$227$150
28 years$767$563$407$290$204$133
29 years$732$532$379$266$185$117
30 years$700$502$353$244$167$104
31 years$670$475$329$224$151$92
32 years$642$449$307$206$136$82
33 years$616$425$287$190$123$73
34 years$591$403$268$174$112$64
35 years$568$382$250$161$101$57
36 years$546$363$234$148$92$51
37 years$526$345$219$136$83$45
38 years$506$327$205$126$75$40
39 years$488$311$192$116$68$36
40 years$470$296$180$107$62$32
41 years$454$282$169$99$56$28
42 years$438$269$159$91$51$25
43 years$423$256$149$84$46$22
44 years$409$244$140$78$42$20
45 years$395$233$131$72$38$18
46 years$382$222$123$66$35$16
47 years$370$212$116$61$31$14
48 years$358$202$109$56$29$12
49 years$347$193$102$52$26$11
50 years$336$184$96$48$24$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 63 starting with $344,000, adding $6,997 every year, while hoping to spend $22,797 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: 71/16/13 Blend
62$344,000$344,000$344,000$344,000
63$386,305$368,073$362,741$412,156
64$401,453$361,853$350,637$424,000
65$417,381$354,564$337,364$433,521
66$434,146$346,130$322,858$443,340
67$451,808$336,469$307,052$453,483
68$470,433$325,497$289,879$463,977
69$490,092$313,121$271,265$474,855
70$510,865$299,248$251,136$486,150
71$532,836$283,774$229,412$497,903
72$556,099$266,592$206,011$510,157
73$580,756$247,590$180,847$522,961
74$606,917$226,646$153,830$536,371
75$634,705$203,634$124,865$550,447
76$664,253$178,420$93,856$565,258
77$695,706$150,862$60,699$580,881
78$729,223$120,810$25,289$597,402
79$764,980$88,105$0$614,914
80$803,168$52,582$0$635,258
81$843,996$14,063$0$660,675
82$887,693$0$0$687,802
83$934,513$0$0$721,668
84$984,730$0$0$760,659
85$1,038,650$0$0$802,538
86$1,096,603$0$0$847,563
87$1,158,956$0$0$896,020
88$1,226,110$0$0$948,224
89$1,298,506$0$0$1,004,517
90$1,376,626$0$0$1,065,279
91$1,461,004$0$0$1,130,926
92$1,552,222$0$0$1,201,913
93$1,650,925$0$0$1,278,743
94$1,757,816$0$0$1,361,969
95$1,873,674$0$0$1,452,197
96$1,999,350$0$0$1,550,094
97$2,135,785$0$0$1,656,394
98$2,284,009$0$0$1,771,905
99$2,445,159$0$0$1,897,515
100$2,620,484$0$0$2,034,200