Can I retire at age 61 with 359,000?

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 $359,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$29,646$29,382$29,124$28,873$28,627$28,364
2 years$14,676$14,403$14,138$13,881$13,632$13,366
3 years$9,687$9,412$9,148$8,894$8,649$8,389
4 years$7,193$6,919$6,658$6,407$6,168$5,917
5 years$5,697$5,425$5,167$4,922$4,689$4,447
6 years$4,700$4,430$4,175$3,936$3,710$3,478
7 years$3,988$3,720$3,470$3,236$3,017$2,794
8 years$3,454$3,189$2,943$2,714$2,503$2,289
9 years$3,039$2,776$2,534$2,312$2,108$1,903
10 years$2,707$2,447$2,210$1,993$1,796$1,601
11 years$2,436$2,179$1,945$1,735$1,545$1,358
12 years$2,210$1,955$1,726$1,521$1,339$1,161
13 years$2,019$1,767$1,542$1,343$1,167$998
14 years$1,856$1,606$1,386$1,192$1,023$863
15 years$1,714$1,467$1,251$1,063$901$749
16 years$1,591$1,346$1,134$952$796$652
17 years$1,481$1,240$1,032$855$706$569
18 years$1,385$1,146$942$771$628$499
19 years$1,298$1,062$863$697$560$437
20 years$1,220$987$792$631$500$385
21 years$1,150$919$728$573$447$339
22 years$1,086$858$671$521$401$299
23 years$1,028$802$620$474$360$264
24 years$974$752$573$432$323$233
25 years$926$706$531$395$291$206
26 years$880$663$492$361$262$183
27 years$839$624$457$331$236$162
28 years$800$588$425$303$213$144
29 years$764$555$395$278$193$127
30 years$731$524$368$255$174$113
31 years$700$495$343$234$157$100
32 years$670$469$320$215$142$89
33 years$643$444$299$198$129$79
34 years$617$421$280$182$117$70
35 years$593$399$261$168$106$63
36 years$570$379$244$154$96$56
37 years$549$360$229$142$87$50
38 years$528$342$214$131$79$44
39 years$509$325$201$121$71$39
40 years$491$309$188$111$65$35
41 years$474$294$176$103$59$31
42 years$457$280$166$95$53$28
43 years$441$267$155$88$48$25
44 years$427$255$146$81$44$22
45 years$412$243$137$75$40$20
46 years$399$232$129$69$36$17
47 years$386$221$121$64$33$16
48 years$374$211$114$59$30$14
49 years$362$201$107$54$27$12
50 years$351$192$100$50$25$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $359,000, adding $6,384 every year, while hoping to spend $30,888 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: 41/30/29 Blend
60$359,000$359,000$359,000$359,000
61$402,203$383,176$377,612$415,049
62$410,363$369,087$357,397$410,856
63$418,320$353,273$335,470$402,971
64$426,021$335,615$311,741$393,853
65$433,406$315,991$286,115$383,406
66$440,409$294,269$258,494$371,531
67$446,953$270,311$228,776$358,119
68$452,956$243,970$196,854$343,054
69$458,324$215,092$162,616$326,212
70$462,954$183,512$125,944$307,460
71$466,729$149,058$86,717$286,654
72$469,521$111,547$44,807$263,641
73$471,186$70,786$82$238,254
74$471,564$26,573$0$210,317
75$470,479$0$0$194,382
76$467,734$0$0$183,520
77$463,111$0$0$180,556
78$456,368$0$0$176,605
79$447,237$0$0$171,547
80$435,420$0$0$165,247
81$420,589$0$0$157,554
82$402,379$0$0$148,304
83$380,387$0$0$137,312
84$354,166$0$0$124,376
85$323,222$0$0$109,272
86$287,009$0$0$91,753
87$244,923$0$0$71,543
88$196,297$0$0$48,340
89$140,392$0$0$21,810
90$76,393$0$0$0
91$3,399$0$0$0
92$0$0$0$0
93$0$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