Can I retire at age 61 with 542,000?

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 $542,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$44,758$44,359$43,970$43,591$43,220$42,347
2 years$22,157$21,745$21,345$20,957$20,581$19,706
3 years$14,625$14,210$13,811$13,427$13,057$12,207
4 years$10,859$10,446$10,051$9,674$9,313$8,493
5 years$8,601$8,190$7,800$7,430$7,079$6,293
6 years$7,095$6,688$6,304$5,942$5,602$4,850
7 years$6,020$5,616$5,238$4,885$4,556$3,838
8 years$5,215$4,814$4,443$4,098$3,779$3,096
9 years$4,588$4,192$3,826$3,491$3,183$2,534
10 years$4,088$3,695$3,336$3,009$2,712$2,096
11 years$3,678$3,289$2,937$2,619$2,332$1,749
12 years$3,337$2,952$2,606$2,297$2,021$1,469
13 years$3,049$2,668$2,329$2,028$1,762$1,241
14 years$2,802$2,425$2,092$1,800$1,545$1,053
15 years$2,588$2,215$1,889$1,605$1,360$897
16 years$2,401$2,033$1,713$1,437$1,202$767
17 years$2,237$1,872$1,559$1,292$1,066$657
18 years$2,090$1,730$1,423$1,164$948$564
19 years$1,960$1,603$1,302$1,052$845$485
20 years$1,842$1,490$1,195$953$755$418
21 years$1,736$1,388$1,099$864$675$361
22 years$1,640$1,295$1,013$786$605$312
23 years$1,552$1,211$936$716$543$270
24 years$1,471$1,135$865$653$488$233
25 years$1,397$1,065$801$596$439$202
26 years$1,329$1,001$743$545$396$175
27 years$1,266$942$690$499$357$152
28 years$1,208$888$642$457$322$132
29 years$1,154$837$597$419$291$114
30 years$1,103$791$556$385$263$99
31 years$1,056$748$519$353$238$86
32 years$1,012$707$484$325$215$75
33 years$971$670$452$299$194$65
34 years$932$635$422$275$176$57
35 years$895$602$395$253$159$49
36 years$861$572$369$233$144$43
37 years$828$543$345$215$131$37
38 years$798$516$324$198$119$32
39 years$769$491$303$182$108$28
40 years$741$467$284$168$98$24
41 years$715$444$266$155$89$21
42 years$690$423$250$143$80$19
43 years$666$403$234$132$73$16
44 years$644$384$220$122$66$14
45 years$623$367$207$113$60$12
46 years$602$350$194$104$55$11
47 years$583$334$182$96$50$9
48 years$564$319$171$89$45$8
49 years$546$304$161$82$41$7
50 years$529$291$151$76$37$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $542,000, adding $5,077 every year, while hoping to spend $36,959 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: 61/23/16 Blend
60$542,000$542,000$542,000$542,000
61$602,521$573,795$565,394$636,547
62$624,654$562,587$545,011$648,864
63$647,806$549,591$522,706$657,701
64$672,042$534,680$498,376$666,473
65$697,431$517,721$471,913$675,176
66$724,051$498,571$443,204$683,810
67$751,984$477,081$412,131$692,375
68$781,320$453,091$378,570$700,871
69$812,156$426,434$342,394$709,304
70$844,597$396,931$303,466$717,678
71$878,761$364,395$261,647$726,003
72$914,772$328,628$216,789$734,292
73$952,766$289,418$168,739$742,561
74$992,894$246,545$117,337$750,829
75$1,035,317$199,774$62,417$759,122
76$1,080,214$148,858$3,802$767,472
77$1,127,779$93,534$0$775,915
78$1,178,222$33,527$0$794,526
79$1,231,776$0$0$814,671
80$1,288,693$0$0$843,759
81$1,349,252$0$0$883,758
82$1,413,754$0$0$926,386
83$1,482,533$0$0$971,865
84$1,555,951$0$0$1,020,440
85$1,634,407$0$0$1,072,376
86$1,718,337$0$0$1,127,967
87$1,808,221$0$0$1,187,534
88$1,904,583$0$0$1,251,429
89$2,008,000$0$0$1,320,039
90$2,119,103$0$0$1,393,787
91$2,238,588$0$0$1,473,139
92$2,367,214$0$0$1,558,606
93$2,505,820$0$0$1,650,750
94$2,655,324$0$0$1,750,188
95$2,816,735$0$0$1,857,596
96$2,991,163$0$0$1,973,720
97$3,179,827$0$0$2,099,379
98$3,384,067$0$0$2,235,471
99$3,605,357$0$0$2,382,986
100$3,845,315$0$0$2,543,012