Can I retire at age 61 with 553,000?

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 $553,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$45,666$45,259$44,863$44,475$44,097$43,066
2 years$22,607$22,186$21,778$21,382$20,999$19,966
3 years$14,922$14,499$14,092$13,700$13,322$12,320
4 years$11,080$10,658$10,255$9,870$9,502$8,537
5 years$8,775$8,356$7,958$7,581$7,223$6,299
6 years$7,239$6,823$6,432$6,063$5,715$4,834
7 years$6,143$5,730$5,345$4,984$4,648$3,808
8 years$5,321$4,912$4,533$4,181$3,856$3,058
9 years$4,681$4,277$3,904$3,562$3,247$2,490
10 years$4,171$3,770$3,404$3,070$2,767$2,050
11 years$3,753$3,356$2,997$2,672$2,380$1,702
12 years$3,405$3,012$2,659$2,344$2,062$1,422
13 years$3,111$2,722$2,376$2,069$1,798$1,195
14 years$2,859$2,474$2,135$1,837$1,576$1,009
15 years$2,641$2,260$1,927$1,638$1,388$855
16 years$2,450$2,074$1,747$1,467$1,227$726
17 years$2,282$1,910$1,590$1,318$1,088$619
18 years$2,133$1,765$1,452$1,188$967$528
19 years$1,999$1,636$1,329$1,073$862$452
20 years$1,879$1,520$1,220$972$770$387
21 years$1,771$1,416$1,122$882$689$332
22 years$1,673$1,322$1,034$802$618$285
23 years$1,583$1,236$955$730$554$245
24 years$1,501$1,158$883$666$498$211
25 years$1,426$1,087$818$608$448$181
26 years$1,356$1,021$758$556$404$156
27 years$1,292$961$704$509$364$134
28 years$1,233$906$655$466$329$116
29 years$1,177$854$609$428$297$100
30 years$1,126$807$567$393$268$86
31 years$1,078$763$529$361$242$74
32 years$1,033$722$494$331$219$64
33 years$990$684$461$305$198$55
34 years$951$648$431$280$180$48
35 years$913$615$403$258$163$41
36 years$878$583$377$238$147$36
37 years$845$554$353$219$134$31
38 years$814$526$330$202$121$27
39 years$784$501$309$186$110$23
40 years$756$476$290$172$100$20
41 years$729$453$272$158$90$17
42 years$704$432$255$146$82$15
43 years$680$411$239$135$74$13
44 years$657$392$225$125$68$11
45 years$635$374$211$115$61$10
46 years$614$357$198$106$56$8
47 years$594$340$186$98$51$7
48 years$575$325$175$91$46$6
49 years$557$310$164$84$42$5
50 years$540$296$155$78$38$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $553,000, adding $5,764 every year, while hoping to spend $24,789 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: 33/38/29 Blend
60$553,000$553,000$553,000$553,000
61$615,352$586,043$577,471$630,095
62$651,742$588,383$570,441$644,159
63$691,014$590,008$562,345$656,713
64$733,434$590,855$553,120$669,765
65$779,297$590,860$542,703$683,379
66$828,926$589,953$531,024$697,622
67$882,677$588,061$518,014$712,574
68$940,941$585,107$503,598$728,323
69$1,004,146$581,007$487,698$744,971
70$1,072,767$575,673$470,233$762,629
71$1,147,321$569,014$451,118$781,424
72$1,228,382$560,930$430,265$801,498
73$1,316,579$551,316$407,580$823,011
74$1,412,602$540,064$382,967$846,140
75$1,517,215$527,054$356,323$871,087
76$1,631,255$512,163$327,544$898,075
77$1,755,644$495,261$296,518$927,353
78$1,891,398$476,207$263,130$959,201
79$2,039,634$454,855$227,258$993,931
80$2,201,583$431,049$188,778$1,031,889
81$2,378,599$404,624$147,556$1,073,465
82$2,572,172$375,407$103,455$1,119,089
83$2,783,946$343,214$56,333$1,169,241
84$3,015,726$307,849$6,038$1,224,458
85$3,269,504$269,108$0$1,285,335
86$3,547,473$226,773$0$1,367,272
87$3,852,045$180,615$0$1,459,217
88$4,185,879$130,391$0$1,560,170
89$4,551,904$75,845$0$1,671,093
90$4,953,343$16,707$0$1,793,051
91$5,393,750$0$0$1,927,221
92$5,877,036$0$0$2,094,687
93$6,407,510$0$0$2,286,258
94$6,989,920$0$0$2,496,675
95$7,629,494$0$0$2,727,836
96$8,331,993$0$0$2,981,836
97$9,103,762$0$0$3,260,979
98$9,951,791$0$0$3,567,808
99$10,883,782$0$0$3,905,121
100$11,908,218$0$0$4,276,002