Can I retire at age 61 with 538,000?

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 $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%14.2%
1 years$44,428$44,032$43,646$43,269$42,901$42,155
2 years$21,994$21,584$21,187$20,802$20,429$19,680
3 years$14,517$14,106$13,710$13,328$12,961$12,233
4 years$10,779$10,369$9,977$9,602$9,244$8,541
5 years$8,537$8,129$7,743$7,375$7,027$6,352
6 years$7,043$6,638$6,257$5,898$5,560$4,914
7 years$5,976$5,575$5,200$4,849$4,522$3,904
8 years$5,176$4,779$4,410$4,068$3,751$3,162
9 years$4,555$4,161$3,798$3,465$3,159$2,599
10 years$4,057$3,667$3,311$2,987$2,692$2,159
11 years$3,651$3,265$2,915$2,599$2,315$1,809
12 years$3,312$2,930$2,587$2,280$2,006$1,527
13 years$3,026$2,648$2,311$2,013$1,749$1,296
14 years$2,781$2,407$2,077$1,787$1,534$1,105
15 years$2,569$2,199$1,875$1,594$1,350$946
16 years$2,384$2,018$1,700$1,427$1,193$812
17 years$2,220$1,858$1,547$1,282$1,058$700
18 years$2,075$1,717$1,412$1,155$941$604
19 years$1,945$1,591$1,293$1,044$839$522
20 years$1,828$1,479$1,186$946$749$452
21 years$1,723$1,377$1,091$858$670$392
22 years$1,627$1,286$1,006$780$601$341
23 years$1,540$1,202$929$711$539$296
24 years$1,460$1,127$859$648$485$258
25 years$1,387$1,057$796$592$436$225
26 years$1,319$994$738$541$393$196
27 years$1,257$935$685$495$354$171
28 years$1,199$881$637$454$320$149
29 years$1,145$831$593$416$289$130
30 years$1,095$785$552$382$261$114
31 years$1,048$742$515$351$236$99
32 years$1,005$702$480$322$213$87
33 years$963$665$448$296$193$76
34 years$925$630$419$273$175$66
35 years$889$598$392$251$158$58
36 years$854$567$366$231$143$51
37 years$822$539$343$213$130$44
38 years$792$512$321$196$118$39
39 years$763$487$301$181$107$34
40 years$736$463$282$167$97$30
41 years$710$441$264$154$88$26
42 years$685$420$248$142$80$23
43 years$662$400$233$131$72$20
44 years$639$382$218$121$66$17
45 years$618$364$205$112$60$15
46 years$598$347$193$103$54$13
47 years$578$331$181$96$49$12
48 years$560$316$170$88$45$10
49 years$542$302$160$82$41$9
50 years$525$288$150$75$37$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $538,000, adding $6,622 every year, while hoping to spend $25,335 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: 88/5/7 Blend
60$538,000$538,000$538,000$538,000
61$599,707$571,193$562,854$651,604
62$633,920$572,225$554,753$687,446
63$670,775$572,458$545,532$722,612
64$710,513$571,828$535,126$760,445
65$753,400$570,263$523,468$801,195
66$799,731$567,689$510,487$845,139
67$849,825$564,028$496,111$892,577
68$904,038$559,196$480,261$943,844
69$962,758$553,104$462,858$999,306
70$1,026,412$545,659$443,816$1,059,367
71$1,095,470$536,761$423,049$1,124,471
72$1,170,450$526,304$400,463$1,195,107
73$1,251,920$514,177$375,962$1,271,815
74$1,340,506$500,261$349,447$1,355,186
75$1,436,895$484,432$320,811$1,445,876
76$1,541,846$466,556$289,945$1,544,602
77$1,656,190$446,494$256,735$1,652,158
78$1,780,846$424,096$221,060$1,769,416
79$1,916,821$399,206$182,795$1,897,338
80$2,065,228$371,658$141,809$2,036,982
81$2,227,288$341,276$97,966$2,189,517
82$2,404,348$307,875$51,124$2,356,226
83$2,597,888$271,258$1,134$2,538,526
84$2,809,542$231,218$0$2,737,978
85$3,041,104$187,537$0$2,960,199
86$3,294,552$139,982$0$3,203,527
87$3,572,065$88,310$0$3,469,977
88$3,876,040$32,261$0$3,761,862
89$4,209,119$0$0$4,081,727
90$4,574,210$0$0$4,433,944
91$4,974,517$0$0$4,822,084
92$5,413,568$0$0$5,247,795
93$5,895,250$0$0$5,714,845
94$6,423,842$0$0$6,227,386
95$7,004,059$0$0$6,789,988
96$7,641,096$0$0$7,407,689
97$8,340,673$0$0$8,086,038
98$9,109,093$0$0$8,831,144
99$9,953,298$0$0$9,649,743
100$10,880,938$0$0$10,549,249