Can I retire at age 61 with 424,000?

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 $424,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$35,014$34,702$34,397$34,100$33,810$32,833
2 years$17,333$17,011$16,698$16,394$16,100$15,124
3 years$11,441$11,117$10,805$10,504$10,215$9,269
4 years$8,495$8,172$7,863$7,568$7,285$6,378
5 years$6,728$6,407$6,102$5,813$5,538$4,672
6 years$5,551$5,232$4,931$4,648$4,382$3,557
7 years$4,710$4,394$4,098$3,822$3,564$2,780
8 years$4,079$3,766$3,475$3,206$2,957$2,214
9 years$3,589$3,279$2,993$2,731$2,490$1,788
10 years$3,198$2,890$2,610$2,354$2,121$1,459
11 years$2,877$2,573$2,298$2,049$1,825$1,200
12 years$2,611$2,309$2,039$1,797$1,581$994
13 years$2,385$2,087$1,822$1,586$1,379$828
14 years$2,192$1,897$1,637$1,408$1,209$692
15 years$2,025$1,733$1,478$1,256$1,064$580
16 years$1,878$1,590$1,340$1,125$940$488
17 years$1,750$1,464$1,219$1,010$834$412
18 years$1,635$1,353$1,113$911$741$348
19 years$1,533$1,254$1,019$823$661$294
20 years$1,441$1,165$935$745$590$249
21 years$1,358$1,085$860$676$528$212
22 years$1,283$1,013$793$615$474$180
23 years$1,214$948$732$560$425$153
24 years$1,151$888$677$511$382$130
25 years$1,093$833$627$466$344$111
26 years$1,040$783$581$426$310$94
27 years$991$737$540$390$279$80
28 years$945$694$502$358$252$68
29 years$903$655$467$328$227$58
30 years$863$619$435$301$206$50
31 years$826$585$406$276$186$42
32 years$792$553$378$254$168$36
33 years$759$524$353$234$152$31
34 years$729$497$330$215$138$26
35 years$700$471$309$198$125$22
36 years$673$447$289$182$113$19
37 years$648$425$270$168$102$16
38 years$624$404$253$155$93$14
39 years$601$384$237$143$84$12
40 years$580$365$222$132$76$10
41 years$559$348$208$121$69$9
42 years$540$331$195$112$63$7
43 years$521$315$183$103$57$6
44 years$504$301$172$96$52$5
45 years$487$287$162$88$47$5
46 years$471$274$152$81$43$4
47 years$456$261$143$75$39$3
48 years$441$249$134$70$35$3
49 years$427$238$126$64$32$2
50 years$414$227$118$59$29$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $424,000, adding $4,188 every year, while hoping to spend $24,619 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: 70/14/16 Blend
60$424,000$424,000$424,000$424,000
61$471,568$449,096$442,524$502,536
62$493,473$444,907$431,154$519,490
63$516,788$439,688$418,578$534,698
64$541,630$433,362$404,730$550,714
65$568,128$425,848$389,540$567,612
66$596,422$417,061$372,935$585,478
67$626,669$406,908$354,840$604,405
68$659,038$395,295$335,176$624,498
69$693,714$382,119$313,858$645,870
70$730,902$367,272$290,802$668,649
71$770,825$350,640$265,915$692,977
72$813,730$332,102$239,104$719,009
73$859,887$311,531$210,270$746,919
74$909,590$288,791$179,309$776,898
75$963,166$263,739$146,114$809,159
76$1,020,972$236,226$110,572$843,936
77$1,083,401$206,090$72,565$881,489
78$1,150,883$173,164$31,971$922,106
79$1,223,893$137,269$0$966,107
80$1,302,952$98,218$0$1,015,780
81$1,388,634$55,810$0$1,075,529
82$1,481,567$9,838$0$1,140,344
83$1,582,446$0$0$1,210,729
84$1,692,031$0$0$1,293,386
85$1,811,161$0$0$1,384,910
86$1,940,759$0$0$1,484,497
87$2,081,840$0$0$1,592,929
88$2,235,518$0$0$1,711,067
89$2,403,024$0$0$1,839,858
90$2,585,709$0$0$1,980,346
91$2,785,062$0$0$2,133,677
92$3,002,720$0$0$2,301,115
93$3,240,487$0$0$2,484,050
94$3,500,348$0$0$2,684,014
95$3,784,490$0$0$2,902,692
96$4,095,317$0$0$3,141,939
97$4,435,481$0$0$3,403,800
98$4,807,898$0$0$3,690,524
99$5,215,781$0$0$4,004,589
100$5,662,669$0$0$4,348,724