Can I retire at age 61 with 558,000?

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 $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%12.2%
1 years$46,079$45,669$45,268$44,877$44,496$44,086
2 years$22,811$22,387$21,975$21,576$21,188$20,776
3 years$15,057$14,630$14,219$13,824$13,443$13,040
4 years$11,180$10,755$10,348$9,959$9,588$9,197
5 years$8,854$8,432$8,030$7,650$7,288$6,912
6 years$7,305$6,885$6,490$6,117$5,767$5,405
7 years$6,198$5,782$5,393$5,030$4,690$4,343
8 years$5,369$4,956$4,574$4,219$3,891$3,558
9 years$4,724$4,315$3,939$3,594$3,277$2,959
10 years$4,208$3,804$3,434$3,098$2,792$2,488
11 years$3,787$3,386$3,024$2,696$2,401$2,111
12 years$3,436$3,039$2,683$2,365$2,081$1,805
13 years$3,139$2,747$2,397$2,088$1,814$1,552
14 years$2,885$2,497$2,154$1,853$1,591$1,341
15 years$2,665$2,281$1,945$1,653$1,400$1,164
16 years$2,472$2,093$1,763$1,480$1,238$1,013
17 years$2,303$1,927$1,605$1,330$1,097$885
18 years$2,152$1,781$1,465$1,198$976$775
19 years$2,017$1,650$1,341$1,083$870$680
20 years$1,896$1,534$1,231$981$777$598
21 years$1,787$1,429$1,132$890$695$526
22 years$1,688$1,333$1,043$809$623$464
23 years$1,597$1,247$963$737$559$410
24 years$1,515$1,169$891$672$503$362
25 years$1,439$1,097$825$614$452$321
26 years$1,369$1,031$765$561$408$284
27 years$1,304$970$711$514$367$252
28 years$1,244$914$661$471$332$223
29 years$1,188$862$615$432$299$198
30 years$1,136$814$573$396$271$176
31 years$1,087$770$534$364$245$156
32 years$1,042$728$498$334$221$139
33 years$999$690$465$307$200$123
34 years$959$654$435$283$181$110
35 years$922$620$406$260$164$97
36 years$886$589$380$240$149$87
37 years$853$559$356$221$135$77
38 years$821$531$333$204$122$69
39 years$791$505$312$188$111$61
40 years$763$481$293$173$101$54
41 years$736$457$274$160$91$48
42 years$710$436$257$148$83$43
43 years$686$415$241$136$75$38
44 years$663$396$227$126$68$34
45 years$641$377$213$116$62$30
46 years$620$360$200$107$56$27
47 years$600$344$188$99$51$24
48 years$581$328$176$92$46$22
49 years$562$313$166$85$42$19
50 years$545$299$156$78$38$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $558,000, adding $4,180 every year, while hoping to spend $49,517 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: 57/35/8 Blend
60$558,000$558,000$558,000$558,000
61$619,228$589,654$581,005$653,154
62$629,703$565,861$547,783$652,696
63$639,588$539,243$511,788$646,286
64$648,768$509,609$472,876$638,088
65$657,120$476,756$430,894$627,939
66$664,502$440,473$385,685$615,659
67$670,758$400,533$337,082$601,052
68$675,714$356,698$284,913$583,909
69$679,176$308,716$228,997$564,000
70$680,930$256,321$169,147$541,077
71$680,736$199,231$105,164$514,871
72$678,328$137,151$36,844$485,087
73$673,411$69,765$0$451,410
74$665,658$0$0$416,571
75$654,707$0$0$381,927
76$640,155$0$0$371,863
77$621,557$0$0$359,228
78$598,419$0$0$343,711
79$570,195$0$0$324,969
80$536,280$0$0$302,620
81$496,006$0$0$276,244
82$448,632$0$0$245,374
83$393,340$0$0$209,495
84$329,225$0$0$168,039
85$255,287$0$0$120,374
86$170,421$0$0$65,807
87$73,405$0$0$3,568
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0