Can I retire at age 61 with 538,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $538,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$44,428$44,032$43,646$43,269$42,901$42,018
2 years$21,994$21,584$21,187$20,802$20,429$19,543
3 years$14,517$14,106$13,710$13,328$12,961$12,100
4 years$10,779$10,369$9,977$9,602$9,244$8,415
5 years$8,537$8,129$7,743$7,375$7,027$6,232
6 years$7,043$6,638$6,257$5,898$5,560$4,800
7 years$5,976$5,575$5,200$4,849$4,522$3,797
8 years$5,176$4,779$4,410$4,068$3,751$3,061
9 years$4,555$4,161$3,798$3,465$3,159$2,503
10 years$4,057$3,667$3,311$2,987$2,692$2,069
11 years$3,651$3,265$2,915$2,599$2,315$1,726
12 years$3,312$2,930$2,587$2,280$2,006$1,449
13 years$3,026$2,648$2,311$2,013$1,749$1,223
14 years$2,781$2,407$2,077$1,787$1,534$1,037
15 years$2,569$2,199$1,875$1,594$1,350$883
16 years$2,384$2,018$1,700$1,427$1,193$754
17 years$2,220$1,858$1,547$1,282$1,058$646
18 years$2,075$1,717$1,412$1,155$941$554
19 years$1,945$1,591$1,293$1,044$839$476
20 years$1,828$1,479$1,186$946$749$410
21 years$1,723$1,377$1,091$858$670$354
22 years$1,627$1,286$1,006$780$601$305
23 years$1,540$1,202$929$711$539$264
24 years$1,460$1,127$859$648$485$228
25 years$1,387$1,057$796$592$436$197
26 years$1,319$994$738$541$393$171
27 years$1,257$935$685$495$354$148
28 years$1,199$881$637$454$320$128
29 years$1,145$831$593$416$289$111
30 years$1,095$785$552$382$261$97
31 years$1,048$742$515$351$236$84
32 years$1,005$702$480$322$213$73
33 years$963$665$448$296$193$63
34 years$925$630$419$273$175$55
35 years$889$598$392$251$158$48
36 years$854$567$366$231$143$41
37 years$822$539$343$213$130$36
38 years$792$512$321$196$118$31
39 years$763$487$301$181$107$27
40 years$736$463$282$167$97$24
41 years$710$441$264$154$88$21
42 years$685$420$248$142$80$18
43 years$662$400$233$131$72$16
44 years$639$382$218$121$66$13
45 years$618$364$205$112$60$12
46 years$598$347$193$103$54$10
47 years$578$331$181$96$49$9
48 years$560$316$170$88$45$8
49 years$542$302$160$82$41$7
50 years$525$288$150$75$37$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $538,000, adding $5,580 every year, while hoping to spend $24,751 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: 64/17/19 Blend
60$538,000$538,000$538,000$538,000
61$598,632$570,118$561,779$633,725
62$633,357$571,719$554,263$659,593
63$670,795$572,568$545,667$684,527
64$711,196$572,604$535,927$711,183
65$754,836$571,759$524,977$739,731
66$802,016$569,962$512,751$770,358
67$853,069$567,138$499,176$803,270
68$908,361$563,207$484,177$838,698
69$968,294$558,084$467,677$876,894
70$1,033,309$551,679$449,593$918,137
71$1,103,892$543,897$429,841$962,736
72$1,180,579$534,637$408,330$1,011,034
73$1,263,956$523,793$384,967$1,063,407
74$1,354,671$511,250$359,655$1,120,273
75$1,453,435$496,889$332,291$1,182,091
76$1,561,031$480,583$302,769$1,249,371
77$1,678,322$462,197$270,977$1,322,675
78$1,806,256$441,589$236,800$1,402,623
79$1,945,876$418,610$200,115$1,489,902
80$2,098,332$393,098$160,795$1,585,268
81$2,264,889$364,887$118,709$1,689,558
82$2,446,940$333,798$73,717$1,803,696
83$2,646,017$299,643$25,676$1,928,699
84$2,863,808$262,224$0$2,065,696
85$3,102,174$221,329$0$2,221,115
86$3,363,159$176,739$0$2,397,034
87$3,649,019$128,216$0$2,589,789
88$3,962,235$75,515$0$2,801,087
89$4,305,542$18,374$0$3,032,808
90$4,681,949$0$0$3,287,026
91$5,094,773$0$0$3,574,163
92$5,547,665$0$0$3,892,978
93$6,044,650$0$0$4,242,871
94$6,590,157$0$0$4,626,967
95$7,189,068$0$0$5,048,707
96$7,846,759$0$0$5,511,883
97$8,569,154$0$0$6,020,672
98$9,362,776$0$0$6,579,674
99$10,234,815$0$0$7,193,959
100$11,193,188$0$0$7,869,110