Can I retire at age 67 with 340,000?

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 $340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$28,077$27,827$27,583$27,345$27,112$26,885
2 years$13,899$13,641$13,390$13,146$12,911$12,682
3 years$9,174$8,914$8,664$8,423$8,191$7,967
4 years$6,812$6,553$6,305$6,068$5,842$5,625
5 years$5,395$5,138$4,893$4,661$4,441$4,232
6 years$4,451$4,195$3,954$3,727$3,514$3,313
7 years$3,777$3,523$3,286$3,065$2,858$2,665
8 years$3,271$3,020$2,787$2,571$2,371$2,186
9 years$2,878$2,629$2,400$2,190$1,997$1,820
10 years$2,564$2,318$2,093$1,888$1,701$1,532
11 years$2,307$2,063$1,842$1,643$1,463$1,302
12 years$2,093$1,852$1,635$1,441$1,268$1,114
13 years$1,913$1,674$1,461$1,272$1,106$959
14 years$1,758$1,521$1,313$1,129$969$830
15 years$1,624$1,390$1,185$1,007$853$721
16 years$1,506$1,275$1,074$902$754$629
17 years$1,403$1,174$978$810$669$550
18 years$1,311$1,085$892$730$595$482
19 years$1,229$1,006$817$660$530$424
20 years$1,156$934$750$598$473$373
21 years$1,089$870$690$542$424$329
22 years$1,028$813$636$493$380$291
23 years$973$760$587$449$341$257
24 years$923$712$543$410$306$228
25 years$877$668$503$374$276$202
26 years$834$628$466$342$248$179
27 years$794$591$433$313$224$159
28 years$758$557$403$287$202$141
29 years$724$525$375$263$182$125
30 years$692$496$349$241$165$111
31 years$663$469$325$222$149$99
32 years$635$444$303$204$135$88
33 years$609$420$283$187$122$79
34 years$585$398$265$172$110$70
35 years$562$378$248$159$100$62
36 years$540$359$232$146$91$55
37 years$520$341$217$135$82$49
38 years$500$324$203$124$74$44
39 years$482$308$190$114$68$39
40 years$465$293$178$106$61$35
41 years$448$279$167$97$56$31
42 years$433$265$157$90$50$28
43 years$418$253$147$83$46$25
44 years$404$241$138$77$42$22
45 years$391$230$130$71$38$20
46 years$378$219$122$65$34$18
47 years$366$209$114$60$31$16
48 years$354$200$108$56$28$14
49 years$343$191$101$52$26$13
50 years$332$182$95$48$23$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 67 starting with $340,000, adding $3,141 every year, while hoping to spend $22,675 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: 40/46/14 Blend
66$340,000$340,000$340,000$340,000
67$377,920$359,900$354,630$391,344
68$392,342$353,409$342,384$394,659
69$407,475$345,840$328,968$395,788
70$423,367$337,116$314,318$396,517
71$440,072$327,157$298,370$396,822
72$457,647$315,875$281,052$396,676
73$476,154$303,180$262,295$396,053
74$495,661$288,975$242,021$394,924
75$516,243$273,159$220,153$393,263
76$537,980$255,624$196,608$391,041
77$560,960$236,255$171,301$388,229
78$585,279$214,933$144,141$384,799
79$611,042$191,530$115,034$380,721
80$638,365$165,911$83,884$375,968
81$667,371$137,934$50,588$370,512
82$698,199$107,449$15,038$364,324
83$730,999$74,297$0$357,379
84$765,933$38,310$0$353,072
85$803,183$0$0$350,578
86$842,945$0$0$347,992
87$885,434$0$0$365,979
88$930,887$0$0$385,249
89$979,563$0$0$405,915
90$1,031,747$0$0$428,102
91$1,087,749$0$0$451,947
92$1,147,913$0$0$477,600
93$1,212,614$0$0$505,226
94$1,282,265$0$0$535,005
95$1,357,317$0$0$567,136
96$1,438,269$0$0$601,838
97$1,525,667$0$0$639,351
98$1,620,112$0$0$679,937
99$1,722,263$0$0$723,888
100$1,832,846$0$0$771,521