Can I retire at age 61 with 350,000?

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 $350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$28,903$28,645$28,394$28,149$27,909$27,710
2 years$14,308$14,042$13,784$13,533$13,290$13,089
3 years$9,444$9,176$8,919$8,671$8,432$8,236
4 years$7,012$6,746$6,491$6,247$6,014$5,824
5 years$5,554$5,289$5,037$4,798$4,572$4,388
6 years$4,582$4,319$4,071$3,837$3,617$3,441
7 years$3,888$3,627$3,383$3,155$2,942$2,772
8 years$3,367$3,109$2,869$2,646$2,441$2,278
9 years$2,963$2,707$2,471$2,254$2,055$1,899
10 years$2,640$2,386$2,154$1,943$1,751$1,602
11 years$2,375$2,124$1,897$1,691$1,506$1,364
12 years$2,155$1,906$1,683$1,483$1,305$1,169
13 years$1,969$1,723$1,504$1,310$1,138$1,009
14 years$1,809$1,566$1,351$1,162$998$875
15 years$1,671$1,431$1,220$1,037$878$761
16 years$1,551$1,313$1,106$928$776$665
17 years$1,444$1,209$1,006$834$688$583
18 years$1,350$1,117$919$752$612$512
19 years$1,265$1,035$841$679$546$451
20 years$1,190$962$772$615$487$398
21 years$1,121$896$710$558$436$352
22 years$1,059$836$654$508$391$312
23 years$1,002$782$604$462$351$276
24 years$950$733$559$422$315$245
25 years$902$688$518$385$284$218
26 years$858$646$480$352$256$193
27 years$818$608$446$322$230$172
28 years$780$573$414$295$208$153
29 years$745$541$386$271$188$137
30 years$712$511$359$248$170$122
31 years$682$483$335$228$153$109
32 years$654$457$312$210$139$97
33 years$627$433$292$193$126$86
34 years$602$410$273$177$114$77
35 years$578$389$255$163$103$69
36 years$556$369$238$150$93$62
37 years$535$351$223$139$85$55
38 years$515$333$209$128$77$49
39 years$496$317$196$118$70$44
40 years$479$301$183$109$63$39
41 years$462$287$172$100$57$35
42 years$446$273$161$93$52$31
43 years$430$260$151$85$47$28
44 years$416$248$142$79$43$25
45 years$402$237$133$73$39$22
46 years$389$226$125$67$35$20
47 years$376$215$118$62$32$18
48 years$364$206$111$57$29$16
49 years$353$196$104$53$26$14
50 years$342$188$98$49$24$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $350,000, adding $6,559 every year, while hoping to spend $27,887 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: 50/21/29 Blend
60$350,000$350,000$350,000$350,000
61$392,466$373,916$368,491$408,580
62$402,826$362,566$351,163$409,182
63$413,308$349,725$332,321$406,548
64$423,895$335,292$311,884$403,145
65$434,567$319,156$289,767$398,913
66$445,302$301,204$265,884$393,788
67$456,075$281,315$240,142$387,702
68$466,854$259,359$212,447$380,582
69$477,607$235,202$182,698$372,349
70$488,296$208,699$150,791$362,920
71$498,877$179,701$116,618$352,205
72$509,302$148,045$80,064$340,108
73$519,516$113,564$41,011$326,525
74$529,457$76,079$0$311,347
75$539,055$35,401$0$294,662
76$548,234$0$0$289,691
77$556,907$0$0$285,641
78$564,975$0$0$289,419
79$572,332$0$0$292,783
80$578,855$0$0$295,667
81$584,411$0$0$297,994
82$588,848$0$0$299,683
83$591,999$0$0$300,639
84$593,680$0$0$300,760
85$593,683$0$0$299,931
86$591,778$0$0$298,025
87$587,712$0$0$294,902
88$581,202$0$0$290,403
89$571,934$0$0$284,357
90$559,562$0$0$276,570
91$543,700$0$0$266,830
92$523,923$0$0$254,901
93$499,759$0$0$240,523
94$470,685$0$0$223,406
95$436,125$0$0$203,231
96$395,438$0$0$179,644
97$347,918$0$0$152,256
98$292,784$0$0$120,635
99$229,172$0$0$84,303
100$156,126$0$0$42,733