Can I retire at age 61 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%11%
1 years$28,407$28,154$27,907$27,666$27,431$27,315
2 years$14,063$13,801$13,547$13,301$13,062$12,946
3 years$9,282$9,019$8,766$8,522$8,287$8,173
4 years$6,892$6,630$6,379$6,140$5,911$5,800
5 years$5,459$5,198$4,951$4,716$4,493$4,386
6 years$4,503$4,245$4,001$3,771$3,555$3,452
7 years$3,821$3,565$3,325$3,101$2,891$2,792
8 years$3,310$3,056$2,820$2,601$2,399$2,303
9 years$2,912$2,660$2,429$2,216$2,020$1,929
10 years$2,594$2,345$2,117$1,910$1,721$1,634
11 years$2,334$2,088$1,864$1,662$1,480$1,396
12 years$2,118$1,874$1,654$1,458$1,283$1,203
13 years$1,935$1,693$1,478$1,287$1,119$1,042
14 years$1,778$1,539$1,328$1,143$981$908
15 years$1,643$1,406$1,199$1,019$863$794
16 years$1,524$1,290$1,087$912$763$697
17 years$1,420$1,188$989$820$677$614
18 years$1,327$1,098$903$739$602$542
19 years$1,244$1,017$827$668$536$480
20 years$1,169$945$759$605$479$425
21 years$1,102$881$698$549$429$378
22 years$1,041$822$643$499$384$336
23 years$985$769$594$454$345$300
24 years$934$720$549$414$310$267
25 years$887$676$509$378$279$239
26 years$844$635$472$346$251$213
27 years$804$598$438$317$227$191
28 years$767$563$407$290$204$171
29 years$732$532$379$266$185$153
30 years$700$502$353$244$167$137
31 years$670$475$329$224$151$123
32 years$642$449$307$206$136$110
33 years$616$425$287$190$123$99
34 years$591$403$268$174$112$89
35 years$568$382$250$161$101$80
36 years$546$363$234$148$92$72
37 years$526$345$219$136$83$65
38 years$506$327$205$126$75$58
39 years$488$311$192$116$68$52
40 years$470$296$180$107$62$47
41 years$454$282$169$99$56$42
42 years$438$269$159$91$51$38
43 years$423$256$149$84$46$34
44 years$409$244$140$78$42$31
45 years$395$233$131$72$38$28
46 years$382$222$123$66$35$25
47 years$370$212$116$61$31$22
48 years$358$202$109$56$29$20
49 years$347$193$102$52$26$18
50 years$336$184$96$48$24$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $344,000, adding $6,182 every year, while hoping to spend $28,824 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: 46/35/19 Blend
60$344,000$344,000$344,000$344,000
61$385,465$367,233$361,901$400,845
62$394,114$354,559$343,356$399,543
63$402,679$340,297$323,224$394,764
64$411,121$324,341$301,421$388,974
65$419,396$306,575$277,859$382,092
66$427,455$286,878$252,448$374,030
67$435,243$265,122$225,093$364,696
68$442,697$241,172$195,692$353,987
69$449,747$214,885$164,143$341,797
70$456,317$186,109$130,337$328,008
71$462,318$154,685$94,161$312,496
72$467,654$120,445$55,495$295,128
73$472,218$83,209$14,216$275,757
74$475,888$42,790$0$254,229
75$478,530$0$0$236,425
76$479,997$0$0$219,976
77$480,121$0$0$219,303
78$478,720$0$0$217,835
79$475,590$0$0$215,465
80$470,503$0$0$212,080
81$463,209$0$0$207,550
82$453,430$0$0$201,734
83$440,857$0$0$194,475
84$425,149$0$0$185,598
85$405,927$0$0$174,912
86$382,772$0$0$162,202
87$355,223$0$0$147,234
88$322,766$0$0$129,747
89$284,834$0$0$109,452
90$240,802$0$0$86,030
91$189,976$0$0$59,131
92$131,591$0$0$28,363
93$64,802$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0