Can I retire at age 53 with 343,000?

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 $343,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$28,325$28,072$27,826$27,586$27,351$26,810
2 years$14,022$13,761$13,508$13,262$13,024$12,481
3 years$9,255$8,993$8,740$8,497$8,263$7,735
4 years$6,872$6,611$6,361$6,122$5,893$5,385
5 years$5,443$5,183$4,936$4,702$4,480$3,992
6 years$4,490$4,232$3,989$3,760$3,545$3,078
7 years$3,810$3,554$3,315$3,092$2,883$2,438
8 years$3,300$3,047$2,811$2,593$2,392$1,967
9 years$2,904$2,653$2,421$2,209$2,014$1,611
10 years$2,587$2,338$2,111$1,904$1,716$1,333
11 years$2,328$2,082$1,859$1,657$1,476$1,113
12 years$2,112$1,868$1,649$1,454$1,279$936
13 years$1,929$1,688$1,474$1,283$1,115$791
14 years$1,773$1,535$1,324$1,139$978$672
15 years$1,638$1,402$1,195$1,016$861$573
16 years$1,520$1,286$1,084$910$761$490
17 years$1,415$1,185$986$817$675$420
18 years$1,323$1,095$900$737$600$361
19 years$1,240$1,014$824$666$535$311
20 years$1,166$943$756$603$478$268
21 years$1,099$878$696$547$427$231
22 years$1,038$820$641$497$383$200
23 years$982$767$592$453$344$173
24 years$931$718$548$413$309$150
25 years$884$674$507$377$278$130
26 years$841$634$470$345$251$113
27 years$801$596$437$316$226$98
28 years$764$562$406$289$204$85
29 years$730$530$378$265$184$74
30 years$698$501$352$244$166$64
31 years$668$473$328$224$150$56
32 years$640$448$306$206$136$48
33 years$614$424$286$189$123$42
34 years$590$402$267$174$111$37
35 years$567$381$250$160$101$32
36 years$545$362$234$147$91$28
37 years$524$344$219$136$83$24
38 years$505$327$205$125$75$21
39 years$486$311$192$115$68$18
40 years$469$295$180$106$62$16
41 years$452$281$169$98$56$14
42 years$437$268$158$91$51$12
43 years$422$255$148$84$46$11
44 years$408$243$139$77$42$9
45 years$394$232$131$71$38$8
46 years$381$221$123$66$35$7
47 years$369$211$115$61$31$6
48 years$357$202$108$56$28$5
49 years$346$192$102$52$26$5
50 years$335$184$96$48$23$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $343,000, adding $2,178 every year, while hoping to spend $22,303 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: 37/36/27 Blend
52$343,000$343,000$343,000$343,000
53$380,233$362,054$356,737$391,163
54$395,286$356,064$344,958$393,425
55$411,128$349,033$332,036$393,672
56$427,814$340,887$317,910$393,507
57$445,407$331,547$302,516$392,909
58$463,974$320,928$285,786$391,854
59$483,588$308,943$267,649$390,319
60$504,331$295,497$248,032$388,281
61$526,288$280,493$226,857$385,717
62$549,557$263,824$204,044$382,604
63$574,241$245,381$179,509$378,919
64$600,455$225,045$153,163$374,640
65$628,323$202,694$124,916$369,746
66$657,982$178,197$94,671$364,216
67$689,582$151,414$62,328$358,031
68$723,287$122,201$27,783$351,174
69$759,275$90,402$0$343,629
70$797,744$55,854$0$338,000
71$838,909$18,386$0$340,372
72$883,007$0$0$342,759
73$930,296$0$0$353,983
74$981,061$0$0$373,884
75$1,035,614$0$0$395,304
76$1,094,298$0$0$418,383
77$1,157,488$0$0$443,272
78$1,225,599$0$0$470,140
79$1,299,083$0$0$499,171
80$1,378,440$0$0$530,567
81$1,464,217$0$0$564,550
82$1,557,016$0$0$601,365
83$1,657,499$0$0$641,281
84$1,766,394$0$0$684,593
85$1,884,501$0$0$731,628
86$2,012,700$0$0$782,742
87$2,151,959$0$0$838,329
88$2,303,342$0$0$898,822
89$2,468,020$0$0$964,697
90$2,647,282$0$0$1,036,478
91$2,842,546$0$0$1,114,743
92$3,055,371$0$0$1,200,126
93$3,287,476$0$0$1,293,325
94$3,540,750$0$0$1,395,111
95$3,817,274$0$0$1,506,330
96$4,119,337$0$0$1,627,915
97$4,449,460$0$0$1,760,890
98$4,810,419$0$0$1,906,388
99$5,205,271$0$0$2,065,652
100$5,637,379$0$0$2,240,052