Can I retire at age 71 with 345,000?

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 $345,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$28,490$28,236$27,988$27,747$27,511$26,737
2 years$14,104$13,841$13,587$13,340$13,100$12,327
3 years$9,309$9,045$8,791$8,547$8,311$7,562
4 years$6,912$6,649$6,398$6,158$5,928$5,209
5 years$5,475$5,213$4,965$4,730$4,506$3,819
6 years$4,516$4,257$4,012$3,782$3,566$2,911
7 years$3,832$3,575$3,334$3,110$2,900$2,278
8 years$3,319$3,064$2,828$2,609$2,406$1,817
9 years$2,921$2,668$2,436$2,222$2,026$1,469
10 years$2,602$2,352$2,123$1,915$1,726$1,200
11 years$2,341$2,094$1,869$1,667$1,485$988
12 years$2,124$1,879$1,659$1,462$1,286$820
13 years$1,941$1,698$1,482$1,291$1,122$683
14 years$1,784$1,544$1,332$1,146$983$572
15 years$1,647$1,410$1,202$1,022$866$480
16 years$1,528$1,294$1,090$915$765$405
17 years$1,424$1,192$992$822$679$342
18 years$1,331$1,101$906$741$603$289
19 years$1,247$1,020$829$669$538$245
20 years$1,173$948$761$606$480$208
21 years$1,105$883$700$550$430$177
22 years$1,044$824$645$500$385$150
23 years$988$771$596$456$346$128
24 years$936$722$551$416$311$109
25 years$889$678$510$380$280$93
26 years$846$637$473$347$252$79
27 years$806$600$439$318$227$68
28 years$769$565$408$291$205$58
29 years$734$533$380$267$185$49
30 years$702$503$354$245$167$42
31 years$672$476$330$225$151$36
32 years$644$450$308$207$137$31
33 years$618$426$288$190$124$26
34 years$593$404$269$175$112$22
35 years$570$383$251$161$102$19
36 years$548$364$235$148$92$16
37 years$527$346$220$137$83$14
38 years$508$328$206$126$76$12
39 years$489$312$193$116$69$10
40 years$472$297$181$107$62$9
41 years$455$283$170$99$56$8
42 years$439$269$159$91$51$6
43 years$424$257$149$84$46$5
44 years$410$245$140$78$42$5
45 years$396$233$132$72$38$4
46 years$383$223$124$66$35$3
47 years$371$212$116$61$32$3
48 years$359$203$109$57$29$3
49 years$348$194$103$52$26$2
50 years$337$185$96$48$24$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $345,000, adding $4,985 every year, while hoping to spend $28,700 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: 79/7/14 Blend
70$345,000$345,000$345,000$345,000
71$385,332$367,047$361,700$414,293
72$394,099$354,496$343,280$421,503
73$402,799$340,368$323,281$425,231
74$411,394$324,555$301,621$428,507
75$419,842$306,944$278,211$431,272
76$428,096$287,414$252,961$433,464
77$436,103$265,839$225,776$435,013
78$443,803$242,083$196,558$435,845
79$451,131$216,004$165,202$435,875
80$458,010$187,453$131,600$435,012
81$464,359$156,269$95,640$433,155
82$470,083$122,286$57,204$430,195
83$475,079$85,327$16,169$426,009
84$479,233$45,203$0$420,467
85$482,414$1,717$0$417,547
86$484,480$0$0$415,810
87$485,272$0$0$416,175
88$484,614$0$0$415,404
89$482,308$0$0$413,192
90$478,137$0$0$409,350
91$471,859$0$0$403,667
92$463,208$0$0$395,911
93$451,885$0$0$385,822
94$437,563$0$0$373,114
95$419,876$0$0$357,471
96$398,423$0$0$338,540
97$372,756$0$0$315,933
98$342,383$0$0$289,220
99$306,757$0$0$257,926
100$265,275$0$0$221,525