Can I retire at age 71 with 349,000?

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 $349,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$28,820$28,563$28,313$28,068$27,830$27,437
2 years$14,267$14,002$13,744$13,494$13,252$12,857
3 years$9,417$9,150$8,893$8,646$8,408$8,022
4 years$6,992$6,726$6,472$6,229$5,996$5,624
5 years$5,538$5,274$5,023$4,784$4,558$4,200
6 years$4,569$4,306$4,059$3,826$3,607$3,263
7 years$3,877$3,616$3,373$3,146$2,933$2,605
8 years$3,358$3,100$2,861$2,639$2,434$2,119
9 years$2,955$2,699$2,464$2,248$2,049$1,750
10 years$2,632$2,379$2,148$1,938$1,746$1,461
11 years$2,368$2,118$1,891$1,686$1,502$1,230
12 years$2,149$1,901$1,678$1,479$1,301$1,044
13 years$1,963$1,718$1,499$1,306$1,135$891
14 years$1,804$1,562$1,347$1,159$995$763
15 years$1,667$1,426$1,216$1,034$876$657
16 years$1,546$1,309$1,103$926$774$568
17 years$1,440$1,205$1,004$832$686$491
18 years$1,346$1,114$916$749$610$427
19 years$1,262$1,032$839$677$544$371
20 years$1,186$959$770$613$486$323
21 years$1,118$893$708$557$435$282
22 years$1,056$834$652$506$390$247
23 years$999$780$602$461$350$216
24 years$947$731$557$420$314$189
25 years$900$686$516$384$283$166
26 years$856$645$479$351$255$145
27 years$815$607$444$321$230$128
28 years$778$572$413$294$207$112
29 years$743$539$384$270$187$98
30 years$710$509$358$248$169$87
31 years$680$481$334$228$153$76
32 years$652$456$312$209$138$67
33 years$625$431$291$192$125$59
34 years$600$409$272$177$113$52
35 years$576$388$254$163$103$46
36 years$554$368$238$150$93$40
37 years$533$350$222$138$84$35
38 years$514$332$208$127$76$31
39 years$495$316$195$117$69$27
40 years$477$301$183$108$63$24
41 years$460$286$172$100$57$21
42 years$444$273$161$92$52$19
43 years$429$260$151$85$47$17
44 years$415$247$142$79$43$15
45 years$401$236$133$73$39$13
46 years$388$225$125$67$35$11
47 years$375$215$117$62$32$10
48 years$363$205$110$57$29$9
49 years$352$196$104$53$26$8
50 years$341$187$98$49$24$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $349,000, adding $6,728 every year, while hoping to spend $24,871 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: 78/13/9 Blend
70$349,000$349,000$349,000$349,000
71$391,538$373,041$367,631$421,000
72$405,012$364,857$353,485$433,121
73$419,027$355,439$338,030$442,520
74$433,612$344,700$321,198$452,103
75$448,798$332,547$302,915$461,877
76$464,617$318,884$283,105$471,850
77$481,107$303,608$261,688$482,033
78$498,305$286,610$238,580$492,435
79$516,254$267,775$213,693$503,069
80$534,997$246,982$186,938$513,947
81$554,584$224,101$158,217$525,087
82$575,066$198,997$127,433$536,504
83$596,502$171,527$94,480$548,219
84$618,951$141,538$59,251$560,253
85$642,481$108,870$21,633$572,632
86$667,163$73,354$0$585,383
87$693,076$34,810$0$600,316
88$720,305$0$0$618,021
89$748,942$0$0$637,464
90$779,087$0$0$663,177
91$810,851$0$0$690,276
92$844,352$0$0$718,861
93$879,720$0$0$749,044
94$917,097$0$0$780,947
95$956,637$0$0$814,703
96$998,509$0$0$850,455
97$1,042,898$0$0$888,364
98$1,090,004$0$0$928,600
99$1,140,048$0$0$971,353
100$1,193,270$0$0$1,016,831