Can I retire at age 53 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%12.5%
1 years$28,407$28,154$27,907$27,666$27,431$27,145
2 years$14,063$13,801$13,547$13,301$13,062$12,774
3 years$9,282$9,019$8,766$8,522$8,287$8,006
4 years$6,892$6,630$6,379$6,140$5,911$5,638
5 years$5,459$5,198$4,951$4,716$4,493$4,231
6 years$4,503$4,245$4,001$3,771$3,555$3,303
7 years$3,821$3,565$3,325$3,101$2,891$2,649
8 years$3,310$3,056$2,820$2,601$2,399$2,167
9 years$2,912$2,660$2,429$2,216$2,020$1,799
10 years$2,594$2,345$2,117$1,910$1,721$1,510
11 years$2,334$2,088$1,864$1,662$1,480$1,279
12 years$2,118$1,874$1,654$1,458$1,283$1,091
13 years$1,935$1,693$1,478$1,287$1,119$936
14 years$1,778$1,539$1,328$1,143$981$808
15 years$1,643$1,406$1,199$1,019$863$699
16 years$1,524$1,290$1,087$912$763$608
17 years$1,420$1,188$989$820$677$530
18 years$1,327$1,098$903$739$602$463
19 years$1,244$1,017$827$668$536$405
20 years$1,169$945$759$605$479$355
21 years$1,102$881$698$549$429$312
22 years$1,041$822$643$499$384$275
23 years$985$769$594$454$345$242
24 years$934$720$549$414$310$214
25 years$887$676$509$378$279$188
26 years$844$635$472$346$251$167
27 years$804$598$438$317$227$147
28 years$767$563$407$290$204$130
29 years$732$532$379$266$185$115
30 years$700$502$353$244$167$102
31 years$670$475$329$224$151$90
32 years$642$449$307$206$136$80
33 years$616$425$287$190$123$71
34 years$591$403$268$174$112$63
35 years$568$382$250$161$101$56
36 years$546$363$234$148$92$50
37 years$526$345$219$136$83$44
38 years$506$327$205$126$75$39
39 years$488$311$192$116$68$35
40 years$470$296$180$107$62$31
41 years$454$282$169$99$56$27
42 years$438$269$159$91$51$24
43 years$423$256$149$84$46$22
44 years$409$244$140$78$42$19
45 years$395$233$131$72$38$17
46 years$382$222$123$66$35$15
47 years$370$212$116$61$31$13
48 years$358$202$109$56$29$12
49 years$347$193$102$52$26$11
50 years$336$184$96$48$24$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 53 starting with $344,000, adding $6,896 every year, while hoping to spend $24,698 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: 54/18/28 Blend
52$344,000$344,000$344,000$344,000
53$386,201$367,969$362,637$403,719
54$399,315$359,721$348,507$408,324
55$412,939$350,241$333,076$410,236
56$427,099$339,443$316,274$411,824
57$441,822$327,235$298,028$413,065
58$457,139$313,520$278,263$413,937
59$473,080$298,196$256,898$414,416
60$489,681$281,155$233,851$414,479
61$506,979$262,281$209,035$414,100
62$525,012$241,454$182,359$413,255
63$543,824$218,546$153,729$411,916
64$563,460$193,421$123,045$410,058
65$583,971$165,936$90,204$407,653
66$605,409$135,940$55,099$404,673
67$627,832$103,273$17,617$401,091
68$651,305$67,767$0$396,877
69$675,893$29,243$0$398,690
70$701,672$0$0$405,866
71$728,720$0$0$415,619
72$757,125$0$0$431,954
73$786,980$0$0$449,134
74$818,389$0$0$467,221
75$851,461$0$0$486,279
76$886,320$0$0$506,379
77$923,097$0$0$527,601
78$961,935$0$0$550,029
79$1,002,992$0$0$573,756
80$1,046,440$0$0$598,883
81$1,092,466$0$0$625,521
82$1,141,274$0$0$653,792
83$1,193,087$0$0$683,826
84$1,248,151$0$0$715,770
85$1,306,733$0$0$749,780
86$1,369,124$0$0$786,032
87$1,435,647$0$0$824,714
88$1,506,651$0$0$866,034
89$1,582,522$0$0$910,221
90$1,663,680$0$0$957,524
91$1,750,588$0$0$1,008,218
92$1,843,754$0$0$1,062,603
93$1,943,732$0$0$1,121,009
94$2,051,133$0$0$1,183,798
95$2,166,627$0$0$1,251,367
96$2,290,950$0$0$1,324,153
97$2,424,908$0$0$1,402,636
98$2,569,388$0$0$1,487,342
99$2,725,366$0$0$1,578,849
100$2,893,911$0$0$1,677,793