Can I retire at age 61 with 558,000?

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 $558,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$46,079$45,669$45,268$44,877$44,496$42,730
2 years$22,811$22,387$21,975$21,576$21,188$19,432
3 years$15,057$14,630$14,219$13,824$13,443$11,750
4 years$11,180$10,755$10,348$9,959$9,588$7,972
5 years$8,854$8,432$8,030$7,650$7,288$5,753
6 years$7,305$6,885$6,490$6,117$5,767$4,314
7 years$6,198$5,782$5,393$5,030$4,690$3,319
8 years$5,369$4,956$4,574$4,219$3,891$2,599
9 years$4,724$4,315$3,939$3,594$3,277$2,063
10 years$4,208$3,804$3,434$3,098$2,792$1,654
11 years$3,787$3,386$3,024$2,696$2,401$1,337
12 years$3,436$3,039$2,683$2,365$2,081$1,086
13 years$3,139$2,747$2,397$2,088$1,814$887
14 years$2,885$2,497$2,154$1,853$1,591$727
15 years$2,665$2,281$1,945$1,653$1,400$598
16 years$2,472$2,093$1,763$1,480$1,238$493
17 years$2,303$1,927$1,605$1,330$1,097$407
18 years$2,152$1,781$1,465$1,198$976$337
19 years$2,017$1,650$1,341$1,083$870$279
20 years$1,896$1,534$1,231$981$777$232
21 years$1,787$1,429$1,132$890$695$192
22 years$1,688$1,333$1,043$809$623$160
23 years$1,597$1,247$963$737$559$133
24 years$1,515$1,169$891$672$503$111
25 years$1,439$1,097$825$614$452$92
26 years$1,369$1,031$765$561$408$77
27 years$1,304$970$711$514$367$64
28 years$1,244$914$661$471$332$53
29 years$1,188$862$615$432$299$44
30 years$1,136$814$573$396$271$37
31 years$1,087$770$534$364$245$31
32 years$1,042$728$498$334$221$26
33 years$999$690$465$307$200$21
34 years$959$654$435$283$181$18
35 years$922$620$406$260$164$15
36 years$886$589$380$240$149$12
37 years$853$559$356$221$135$10
38 years$821$531$333$204$122$9
39 years$791$505$312$188$111$7
40 years$763$481$293$173$101$6
41 years$736$457$274$160$91$5
42 years$710$436$257$148$83$4
43 years$686$415$241$136$75$3
44 years$663$396$227$126$68$3
45 years$641$377$213$116$62$2
46 years$620$360$200$107$56$2
47 years$600$344$188$99$51$2
48 years$581$328$176$92$46$1
49 years$562$313$166$85$42$1
50 years$545$299$156$78$38$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $558,000, adding $6,445 every year, while hoping to spend $23,096 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: 44/46/10 Blend
60$558,000$558,000$558,000$558,000
61$621,564$591,990$583,341$646,861
62$660,390$596,424$578,309$669,515
63$702,401$600,300$572,334$691,194
64$747,900$603,568$565,361$714,168
65$797,215$606,173$557,330$738,565
66$850,712$608,056$548,181$764,528
67$908,788$609,155$537,849$792,212
68$971,885$609,403$526,267$821,793
69$1,040,485$608,732$513,365$853,465
70$1,115,120$607,066$499,069$887,440
71$1,196,376$604,326$483,301$923,958
72$1,284,897$600,428$465,982$963,282
73$1,381,391$595,284$447,028$1,005,704
74$1,486,639$588,799$426,349$1,051,547
75$1,601,500$580,873$403,855$1,101,171
76$1,726,917$571,401$379,449$1,154,972
77$1,863,933$560,269$353,030$1,213,391
78$2,013,691$547,359$324,494$1,276,914
79$2,177,453$532,546$293,730$1,346,081
80$2,356,607$515,695$260,624$1,421,490
81$2,552,682$496,665$225,056$1,503,800
82$2,767,362$475,307$186,902$1,593,743
83$3,002,499$451,464$146,029$1,692,129
84$3,260,136$424,968$102,303$1,799,852
85$3,542,520$395,641$55,581$1,917,904
86$3,852,128$363,299$5,713$2,047,377
87$4,191,687$327,741$0$2,189,485
88$4,564,199$288,761$0$2,350,634
89$4,972,974$246,137$0$2,528,217
90$5,421,656$199,636$0$2,723,277
91$5,914,258$149,012$0$2,937,642
92$6,455,203$94,004$0$3,173,330
93$7,049,362$34,338$0$3,432,570
94$7,702,100$0$0$3,717,825
95$8,419,330$0$0$4,047,138
96$9,207,562$0$0$4,428,227
97$10,073,973$0$0$4,847,187
98$11,026,465$0$0$5,307,851
99$12,073,747$0$0$5,814,440
100$13,225,414$0$0$6,371,603