Can I retire at age 61 with 556,000?

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 $556,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$45,914$45,505$45,106$44,717$44,336$43,264
2 years$22,730$22,306$21,896$21,498$21,112$20,039
3 years$15,003$14,577$14,168$13,774$13,395$12,353
4 years$11,140$10,716$10,311$9,924$9,553$8,552
5 years$8,823$8,401$8,002$7,622$7,262$6,304
6 years$7,279$6,860$6,467$6,096$5,746$4,831
7 years$6,176$5,761$5,374$5,011$4,673$3,802
8 years$5,349$4,939$4,557$4,204$3,877$3,049
9 years$4,707$4,300$3,925$3,581$3,265$2,480
10 years$4,193$3,790$3,422$3,087$2,782$2,039
11 years$3,773$3,374$3,013$2,686$2,393$1,691
12 years$3,423$3,028$2,674$2,356$2,073$1,411
13 years$3,128$2,737$2,389$2,080$1,808$1,184
14 years$2,874$2,488$2,146$1,847$1,585$998
15 years$2,655$2,273$1,938$1,647$1,395$844
16 years$2,463$2,085$1,757$1,475$1,233$717
17 years$2,294$1,920$1,599$1,325$1,094$610
18 years$2,144$1,774$1,459$1,194$972$520
19 years$2,010$1,644$1,336$1,079$867$444
20 years$1,890$1,528$1,226$977$774$379
21 years$1,781$1,423$1,128$887$693$325
22 years$1,682$1,329$1,039$806$621$279
23 years$1,592$1,243$960$734$557$239
24 years$1,509$1,164$888$670$501$205
25 years$1,433$1,093$822$612$451$176
26 years$1,364$1,027$762$559$406$152
27 years$1,299$966$708$512$366$130
28 years$1,239$911$658$469$330$112
29 years$1,184$859$613$430$298$97
30 years$1,132$811$571$395$270$83
31 years$1,083$767$532$363$244$72
32 years$1,038$726$496$333$220$62
33 years$996$687$463$306$199$53
34 years$956$651$433$282$181$46
35 years$918$618$405$260$164$40
36 years$883$586$379$239$148$34
37 years$850$557$354$220$134$29
38 years$818$529$332$203$122$25
39 years$788$503$311$187$110$22
40 years$760$479$291$173$100$19
41 years$733$456$273$159$91$16
42 years$708$434$256$147$82$14
43 years$684$414$241$136$75$12
44 years$661$394$226$125$68$10
45 years$639$376$212$116$62$9
46 years$618$359$199$107$56$8
47 years$598$342$187$99$51$7
48 years$579$327$176$91$46$6
49 years$560$312$165$84$42$5
50 years$543$298$155$78$38$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $556,000, adding $5,665 every year, while hoping to spend $35,932 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: 56/15/29 Blend
60$556,000$556,000$556,000$556,000
61$618,555$589,087$580,469$647,958
62$643,417$579,721$561,684$659,466
63$669,610$568,692$541,065$667,804
64$697,232$555,880$518,512$676,167
65$726,390$541,159$493,923$684,570
66$757,201$524,395$467,189$693,032
67$789,791$505,446$438,195$701,574
68$824,300$484,162$406,824$710,222
69$860,877$460,385$372,952$719,009
70$899,689$433,946$336,448$727,971
71$940,916$404,669$297,178$737,151
72$984,757$372,365$255,001$746,600
73$1,031,427$336,835$209,768$756,375
74$1,081,163$297,871$161,326$766,544
75$1,134,226$255,251$109,514$777,185
76$1,190,898$208,739$54,164$788,384
77$1,251,492$158,090$0$800,244
78$1,316,349$103,041$0$814,396
79$1,385,843$43,316$0$847,439
80$1,460,385$0$0$882,801
81$1,540,426$0$0$924,240
82$1,626,460$0$0$976,502
83$1,719,030$0$0$1,032,772
84$1,818,733$0$0$1,093,416
85$1,926,222$0$0$1,158,838
86$2,042,218$0$0$1,229,480
87$2,167,511$0$0$1,305,830
88$2,302,968$0$0$1,388,422
89$2,449,545$0$0$1,477,845
90$2,608,290$0$0$1,574,744
91$2,780,357$0$0$1,679,831
92$2,967,015$0$0$1,793,888
93$3,169,658$0$0$1,917,774
94$3,389,821$0$0$2,052,436
95$3,629,192$0$0$2,198,912
96$3,889,628$0$0$2,358,349
97$4,173,170$0$0$2,532,005
98$4,482,069$0$0$2,721,267
99$4,818,797$0$0$2,927,661
100$5,186,077$0$0$3,152,864