Can I retire at age 61 with 547,000?

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 $547,000?

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$45,171$44,768$44,376$43,993$43,619$43,362
2 years$22,362$21,945$21,542$21,150$20,771$20,512
3 years$14,760$14,341$13,939$13,551$13,178$12,925
4 years$10,959$10,543$10,144$9,763$9,399$9,153
5 years$8,680$8,265$7,872$7,499$7,145$6,907
6 years$7,161$6,749$6,362$5,997$5,653$5,425
7 years$6,076$5,668$5,287$4,930$4,598$4,378
8 years$5,263$4,859$4,484$4,136$3,814$3,603
9 years$4,631$4,230$3,862$3,523$3,212$3,010
10 years$4,125$3,729$3,367$3,037$2,737$2,544
11 years$3,712$3,320$2,964$2,643$2,354$2,169
12 years$3,368$2,979$2,630$2,318$2,040$1,863
13 years$3,077$2,693$2,350$2,047$1,779$1,611
14 years$2,828$2,447$2,112$1,817$1,559$1,399
15 years$2,612$2,236$1,907$1,620$1,373$1,221
16 years$2,423$2,051$1,729$1,451$1,213$1,069
17 years$2,257$1,889$1,573$1,303$1,076$939
18 years$2,110$1,746$1,436$1,175$957$826
19 years$1,978$1,618$1,314$1,061$853$729
20 years$1,859$1,503$1,206$961$762$645
21 years$1,752$1,400$1,110$872$682$571
22 years$1,655$1,307$1,023$793$611$507
23 years$1,566$1,223$944$722$548$450
24 years$1,485$1,145$873$659$493$400
25 years$1,410$1,075$809$602$444$357
26 years$1,342$1,010$750$550$400$318
27 years$1,278$951$697$504$360$283
28 years$1,219$896$648$461$325$253
29 years$1,164$845$603$423$293$226
30 years$1,113$798$561$388$265$202
31 years$1,066$755$523$357$240$180
32 years$1,021$714$488$328$217$161
33 years$980$676$456$301$196$144
34 years$940$641$426$277$178$129
35 years$904$608$398$255$161$116
36 years$869$577$373$235$146$104
37 years$836$548$349$217$132$93
38 years$805$521$327$200$120$83
39 years$776$495$306$184$109$74
40 years$748$471$287$170$99$67
41 years$721$448$269$157$89$60
42 years$696$427$252$145$81$54
43 years$673$407$237$133$74$48
44 years$650$388$222$123$67$43
45 years$628$370$209$114$61$39
46 years$608$353$196$105$55$35
47 years$588$337$184$97$50$31
48 years$569$321$173$90$45$28
49 years$551$307$163$83$41$25
50 years$534$293$153$77$37$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $547,000, adding $5,823 every year, while hoping to spend $22,709 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: 48/44/8 Blend
60$547,000$547,000$547,000$547,000
61$608,800$579,809$571,331$636,446
62$646,736$584,058$566,308$660,266
63$687,780$587,753$560,356$683,246
64$732,225$590,845$553,420$707,667
65$780,393$593,278$545,441$733,669
66$832,640$594,995$536,360$761,408
67$889,354$595,935$526,113$791,057
68$950,964$596,032$514,634$822,807
69$1,017,942$595,217$501,853$856,869
70$1,090,806$593,416$487,699$893,479
71$1,170,126$590,551$472,095$932,896
72$1,256,531$586,540$454,962$975,406
73$1,350,711$581,295$436,218$1,021,329
74$1,453,427$574,722$415,775$1,071,016
75$1,565,516$566,723$393,542$1,124,857
76$1,687,899$557,192$369,426$1,183,283
77$1,821,590$546,020$343,327$1,246,772
78$1,967,706$533,089$315,142$1,315,851
79$2,127,475$518,273$284,763$1,391,104
80$2,302,251$501,442$252,076$1,473,177
81$2,493,525$482,457$216,964$1,562,784
82$2,702,936$461,168$179,304$1,660,715
83$2,932,292$437,422$138,967$1,767,844
84$3,183,582$411,052$95,819$1,885,134
85$3,458,998$381,885$49,720$2,013,654
86$3,760,953$349,734$523$2,154,583
87$4,092,106$314,407$0$2,309,225
88$4,455,383$275,695$0$2,483,456
89$4,854,010$233,382$0$2,674,768
90$5,291,539$187,237$0$2,884,888
91$5,771,881$137,018$0$3,115,773
92$6,299,348$82,467$0$3,369,586
93$6,878,687$23,313$0$3,648,711
94$7,515,127$0$0$3,955,784
95$8,214,431$0$0$4,313,433
96$8,982,946$0$0$4,718,949
97$9,827,665$0$0$5,164,742
98$10,756,291$0$0$5,654,887
99$11,777,313$0$0$6,193,872
100$12,900,081$0$0$6,786,642