Can I retire at age 60 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%18.4%
1 years$28,407$28,154$27,907$27,666$27,431$26,500
2 years$14,063$13,801$13,547$13,301$13,062$12,134
3 years$9,282$9,019$8,766$8,522$8,287$7,390
4 years$6,892$6,630$6,379$6,140$5,911$5,052
5 years$5,459$5,198$4,951$4,716$4,493$3,675
6 years$4,503$4,245$4,001$3,771$3,555$2,778
7 years$3,821$3,565$3,325$3,101$2,891$2,156
8 years$3,310$3,056$2,820$2,601$2,399$1,704
9 years$2,912$2,660$2,429$2,216$2,020$1,365
10 years$2,594$2,345$2,117$1,910$1,721$1,105
11 years$2,334$2,088$1,864$1,662$1,480$901
12 years$2,118$1,874$1,654$1,458$1,283$740
13 years$1,935$1,693$1,478$1,287$1,119$611
14 years$1,778$1,539$1,328$1,143$981$506
15 years$1,643$1,406$1,199$1,019$863$420
16 years$1,524$1,290$1,087$912$763$350
17 years$1,420$1,188$989$820$677$293
18 years$1,327$1,098$903$739$602$245
19 years$1,244$1,017$827$668$536$205
20 years$1,169$945$759$605$479$172
21 years$1,102$881$698$549$429$145
22 years$1,041$822$643$499$384$122
23 years$985$769$594$454$345$102
24 years$934$720$549$414$310$86
25 years$887$676$509$378$279$73
26 years$844$635$472$346$251$61
27 years$804$598$438$317$227$52
28 years$767$563$407$290$204$43
29 years$732$532$379$266$185$37
30 years$700$502$353$244$167$31
31 years$670$475$329$224$151$26
32 years$642$449$307$206$136$22
33 years$616$425$287$190$123$19
34 years$591$403$268$174$112$16
35 years$568$382$250$161$101$13
36 years$546$363$234$148$92$11
37 years$526$345$219$136$83$9
38 years$506$327$205$126$75$8
39 years$488$311$192$116$68$7
40 years$470$296$180$107$62$6
41 years$454$282$169$99$56$5
42 years$438$269$159$91$51$4
43 years$423$256$149$84$46$3
44 years$409$244$140$78$42$3
45 years$395$233$131$72$38$2
46 years$382$222$123$66$35$2
47 years$370$212$116$61$31$2
48 years$358$202$109$56$29$1
49 years$347$193$102$52$26$1
50 years$336$184$96$48$24$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $344,000, adding $6,182 every year, while hoping to spend $23,859 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: 38/50/12 Blend
59$344,000$344,000$344,000$344,000
60$385,465$367,233$361,901$398,485
61$399,396$359,841$348,639$400,934
62$413,949$351,288$334,133$400,797
63$429,162$341,491$318,316$400,123
64$445,075$330,363$301,118$398,874
65$461,734$317,812$282,467$397,013
66$479,187$303,741$262,286$394,500
67$497,486$288,046$240,494$391,291
68$516,689$270,620$217,010$387,344
69$536,857$251,345$191,745$382,614
70$558,057$230,102$164,609$377,053
71$580,362$206,760$135,507$370,613
72$603,852$181,185$104,340$363,243
73$628,613$153,231$71,004$354,892
74$654,740$122,748$35,390$345,505
75$682,335$89,574$0$335,028
76$711,510$53,540$0$323,740
77$742,388$14,467$0$316,104
78$775,101$0$0$307,542
79$809,797$0$0$313,324
80$846,634$0$0$327,938
81$885,787$0$0$343,496
82$927,447$0$0$360,077
83$971,822$0$0$377,768
84$1,019,142$0$0$396,664
85$1,069,656$0$0$416,869
86$1,123,640$0$0$438,496
87$1,181,393$0$0$461,672
88$1,243,246$0$0$486,533
89$1,309,561$0$0$513,229
90$1,380,734$0$0$541,926
91$1,457,201$0$0$572,805
92$1,539,441$0$0$606,065
93$1,627,977$0$0$641,924
94$1,723,386$0$0$680,624
95$1,826,302$0$0$722,428
96$1,937,421$0$0$767,626
97$2,057,505$0$0$816,536
98$2,187,396$0$0$869,510
99$2,328,017$0$0$926,932
100$2,480,382$0$0$989,226