Can I retire at age 61 with 420,000?

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 $420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$34,683$34,374$34,073$33,779$33,491$33,294
2 years$17,170$16,850$16,540$16,240$15,948$15,749
3 years$11,333$11,012$10,703$10,405$10,118$9,924
4 years$8,415$8,095$7,789$7,496$7,216$7,028
5 years$6,665$6,346$6,044$5,758$5,486$5,304
6 years$5,498$5,182$4,885$4,605$4,341$4,165
7 years$4,665$4,352$4,059$3,786$3,530$3,362
8 years$4,041$3,731$3,443$3,176$2,929$2,767
9 years$3,556$3,248$2,965$2,705$2,466$2,311
10 years$3,167$2,863$2,585$2,332$2,101$1,953
11 years$2,850$2,549$2,276$2,029$1,807$1,665
12 years$2,586$2,288$2,020$1,780$1,566$1,431
13 years$2,363$2,067$1,805$1,571$1,366$1,237
14 years$2,171$1,879$1,621$1,395$1,197$1,074
15 years$2,006$1,717$1,464$1,244$1,054$937
16 years$1,861$1,575$1,327$1,114$932$821
17 years$1,733$1,451$1,208$1,001$826$721
18 years$1,620$1,340$1,102$902$734$635
19 years$1,518$1,242$1,009$815$655$560
20 years$1,427$1,154$926$738$585$495
21 years$1,345$1,075$852$670$523$439
22 years$1,270$1,004$785$609$469$389
23 years$1,202$939$725$555$421$346
24 years$1,140$880$671$506$378$308
25 years$1,083$825$621$462$341$274
26 years$1,030$776$576$422$307$244
27 years$981$730$535$387$277$218
28 years$936$688$497$354$250$194
29 years$894$649$463$325$225$173
30 years$855$613$431$298$204$155
31 years$818$579$402$274$184$138
32 years$784$548$375$252$167$124
33 years$752$519$350$231$151$111
34 years$722$492$327$213$136$99
35 years$694$467$306$196$124$89
36 years$667$443$286$181$112$80
37 years$642$421$268$166$101$71
38 years$618$400$251$153$92$64
39 years$596$380$235$141$83$57
40 years$574$362$220$130$76$51
41 years$554$344$206$120$69$46
42 years$535$328$194$111$62$41
43 years$516$312$182$102$57$37
44 years$499$298$171$95$51$33
45 years$482$284$160$87$47$30
46 years$467$271$150$81$42$27
47 years$452$259$141$75$38$24
48 years$437$247$133$69$35$21
49 years$423$236$125$64$32$19
50 years$410$225$117$59$29$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $420,000, adding $3,357 every year, while hoping to spend $40,346 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: 73/17/10 Blend
60$420,000$420,000$420,000$420,000
61$466,303$444,043$437,533$499,229
62$470,938$422,873$409,262$500,257
63$474,693$399,314$378,692$496,034
64$477,437$373,205$345,704$490,296
65$479,022$344,379$310,171$482,882
66$479,285$312,655$271,964$473,615
67$478,043$277,847$230,947$462,302
68$475,096$239,754$186,976$448,729
69$470,219$198,166$139,903$432,665
70$463,165$152,859$89,573$413,854
71$453,659$103,600$35,824$392,016
72$441,395$50,139$0$366,845
73$426,036$0$0$340,301
74$407,209$0$0$315,404
75$384,499$0$0$296,752
76$357,449$0$0$274,595
77$325,553$0$0$248,528
78$288,250$0$0$218,098
79$244,921$0$0$182,808
80$194,882$0$0$142,105
81$137,375$0$0$95,381
82$71,565$0$0$41,963
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$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