Can I retire at age 64 with 345,000?

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 $345,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$28,490$28,236$27,988$27,747$27,511$26,651
2 years$14,104$13,841$13,587$13,340$13,100$12,242
3 years$9,309$9,045$8,791$8,547$8,311$7,481
4 years$6,912$6,649$6,398$6,158$5,928$5,132
5 years$5,475$5,213$4,965$4,730$4,506$3,747
6 years$4,516$4,257$4,012$3,782$3,566$2,844
7 years$3,832$3,575$3,334$3,110$2,900$2,216
8 years$3,319$3,064$2,828$2,609$2,406$1,758
9 years$2,921$2,668$2,436$2,222$2,026$1,414
10 years$2,602$2,352$2,123$1,915$1,726$1,150
11 years$2,341$2,094$1,869$1,667$1,485$942
12 years$2,124$1,879$1,659$1,462$1,286$777
13 years$1,941$1,698$1,482$1,291$1,122$644
14 years$1,784$1,544$1,332$1,146$983$537
15 years$1,647$1,410$1,202$1,022$866$448
16 years$1,528$1,294$1,090$915$765$375
17 years$1,424$1,192$992$822$679$315
18 years$1,331$1,101$906$741$603$265
19 years$1,247$1,020$829$669$538$223
20 years$1,173$948$761$606$480$188
21 years$1,105$883$700$550$430$159
22 years$1,044$824$645$500$385$135
23 years$988$771$596$456$346$114
24 years$936$722$551$416$311$96
25 years$889$678$510$380$280$82
26 years$846$637$473$347$252$69
27 years$806$600$439$318$227$59
28 years$769$565$408$291$205$50
29 years$734$533$380$267$185$42
30 years$702$503$354$245$167$36
31 years$672$476$330$225$151$30
32 years$644$450$308$207$137$26
33 years$618$426$288$190$124$22
34 years$593$404$269$175$112$19
35 years$570$383$251$161$102$16
36 years$548$364$235$148$92$13
37 years$527$346$220$137$83$11
38 years$508$328$206$126$76$10
39 years$489$312$193$116$69$8
40 years$472$297$181$107$62$7
41 years$455$283$170$99$56$6
42 years$439$269$159$91$51$5
43 years$424$257$149$84$46$4
44 years$410$245$140$78$42$4
45 years$396$233$132$72$38$3
46 years$383$223$124$66$35$3
47 years$371$212$116$61$32$2
48 years$359$203$109$57$29$2
49 years$348$194$103$52$26$2
50 years$337$185$96$48$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $345,000, adding $4,514 every year, while hoping to spend $27,430 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: 88/5/7 Blend
63$345,000$345,000$345,000$345,000
64$384,846$366,561$361,214$418,126
65$394,915$355,337$344,129$429,266
66$405,092$342,644$325,553$437,212
67$415,358$328,381$305,406$445,052
68$425,694$312,440$283,606$452,754
69$436,074$294,710$260,066$460,284
70$446,473$275,070$234,698$467,601
71$456,859$253,394$207,406$474,663
72$467,197$229,548$178,092$481,422
73$477,447$203,392$146,654$487,823
74$487,564$174,776$112,985$493,809
75$497,498$143,543$76,972$499,314
76$507,192$109,525$38,500$504,266
77$516,581$72,548$0$508,584
78$525,594$32,424$0$512,371
79$534,151$0$0$518,420
80$542,161$0$0$524,361
81$549,525$0$0$531,457
82$556,129$0$0$537,816
83$561,849$0$0$543,317
84$566,547$0$0$547,823
85$570,066$0$0$551,186
86$572,234$0$0$553,237
87$572,861$0$0$553,791
88$571,732$0$0$552,642
89$568,613$0$0$549,560
90$563,239$0$0$544,291
91$555,322$0$0$536,552
92$544,538$0$0$526,032
93$530,530$0$0$512,383
94$512,902$0$0$495,222
95$491,216$0$0$474,124
96$464,988$0$0$448,618
97$433,679$0$0$418,184
98$396,697$0$0$382,245
99$353,385$0$0$340,165
100$303,015$0$0$291,239