Can I retire at age 57 with 342,000?

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 $342,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$28,242$27,990$27,745$27,505$27,272$26,908
2 years$13,981$13,721$13,468$13,224$12,986$12,621
3 years$9,228$8,967$8,715$8,473$8,239$7,883
4 years$6,852$6,591$6,342$6,104$5,876$5,532
5 years$5,427$5,168$4,922$4,688$4,467$4,136
6 years$4,477$4,220$3,978$3,749$3,535$3,217
7 years$3,799$3,544$3,305$3,083$2,875$2,570
8 years$3,290$3,038$2,803$2,586$2,385$2,094
9 years$2,895$2,645$2,414$2,203$2,008$1,731
10 years$2,579$2,331$2,105$1,899$1,711$1,447
11 years$2,321$2,075$1,853$1,652$1,472$1,220
12 years$2,106$1,863$1,645$1,449$1,275$1,036
13 years$1,924$1,683$1,469$1,280$1,112$885
14 years$1,768$1,530$1,320$1,136$975$760
15 years$1,633$1,398$1,192$1,013$858$655
16 years$1,515$1,283$1,081$907$759$566
17 years$1,411$1,181$983$815$673$491
18 years$1,319$1,091$898$734$598$427
19 years$1,236$1,012$822$664$533$372
20 years$1,162$940$754$601$476$325
21 years$1,095$876$694$545$426$284
22 years$1,035$817$639$496$382$248
23 years$979$764$590$452$343$218
24 years$928$716$546$412$308$191
25 years$882$672$506$376$277$168
26 years$839$632$469$344$250$147
27 years$799$594$436$315$225$129
28 years$762$560$405$289$203$114
29 years$728$528$377$265$183$100
30 years$696$499$351$243$166$88
31 years$666$472$327$223$150$78
32 years$639$446$305$205$136$68
33 years$612$423$285$188$123$60
34 years$588$401$266$173$111$53
35 years$565$380$249$160$101$47
36 years$543$361$233$147$91$41
37 years$523$343$218$135$83$37
38 years$503$326$204$125$75$32
39 years$485$310$191$115$68$28
40 years$468$295$179$106$62$25
41 years$451$280$168$98$56$22
42 years$435$267$158$90$51$20
43 years$421$254$148$83$46$17
44 years$406$243$139$77$42$15
45 years$393$231$130$71$38$13
46 years$380$221$122$66$34$12
47 years$368$211$115$61$31$10
48 years$356$201$108$56$28$9
49 years$345$192$102$52$26$8
50 years$334$183$96$48$23$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 57 starting with $342,000, adding $3,654 every year, while hoping to spend $23,968 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: 60/13/27 Blend
56$342,000$342,000$342,000$342,000
57$380,653$362,527$357,226$400,519
58$393,978$354,789$343,691$406,740
59$407,859$345,869$328,900$410,636
60$422,327$335,683$312,784$414,379
61$437,415$324,143$295,274$417,962
62$453,162$311,156$276,296$421,374
63$469,605$296,623$255,773$424,607
64$486,787$280,440$233,623$427,652
65$504,754$262,496$209,765$430,501
66$523,556$242,676$184,109$433,148
67$543,246$220,854$156,564$435,583
68$563,883$196,901$127,034$437,803
69$585,529$170,679$95,419$439,801
70$608,252$142,043$61,616$441,575
71$632,129$110,837$25,515$443,122
72$657,238$76,901$0$444,442
73$683,669$40,061$0$449,285
74$711,516$137$0$461,994
75$740,885$0$0$475,254
76$771,887$0$0$495,273
77$804,649$0$0$516,459
78$839,304$0$0$538,882
79$876,000$0$0$562,639
80$914,898$0$0$587,837
81$956,174$0$0$614,590
82$1,000,022$0$0$643,027
83$1,046,651$0$0$673,285
84$1,096,291$0$0$705,516
85$1,149,196$0$0$739,888
86$1,205,642$0$0$776,580
87$1,265,930$0$0$815,794
88$1,330,393$0$0$857,749
89$1,399,395$0$0$902,682
90$1,473,333$0$0$950,859
91$1,552,647$0$0$1,002,566
92$1,637,814$0$0$1,058,122
93$1,729,363$0$0$1,117,873
94$1,827,872$0$0$1,182,201
95$1,933,975$0$0$1,251,525
96$2,048,369$0$0$1,326,305
97$2,171,822$0$0$1,407,048
98$2,305,174$0$0$1,494,308
99$2,449,350$0$0$1,588,696
100$2,605,368$0$0$1,690,884