Can I retire at age 61 with 550,000?

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 $550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$45,418$45,014$44,619$44,234$43,858$42,403
2 years$22,484$22,066$21,660$21,266$20,885$19,433
3 years$14,841$14,420$14,015$13,626$13,250$11,847
4 years$11,020$10,600$10,200$9,816$9,450$8,107
5 years$8,728$8,311$7,915$7,540$7,184$5,904
6 years$7,200$6,786$6,397$6,030$5,684$4,468
7 years$6,109$5,699$5,316$4,957$4,623$3,471
8 years$5,292$4,885$4,508$4,159$3,835$2,746
9 years$4,656$4,254$3,883$3,542$3,230$2,203
10 years$4,148$3,749$3,385$3,053$2,752$1,785
11 years$3,732$3,338$2,980$2,657$2,367$1,458
12 years$3,386$2,996$2,645$2,331$2,051$1,199
13 years$3,094$2,707$2,363$2,058$1,788$991
14 years$2,843$2,461$2,123$1,827$1,568$822
15 years$2,626$2,248$1,917$1,629$1,380$684
16 years$2,437$2,063$1,738$1,459$1,220$571
17 years$2,270$1,900$1,582$1,311$1,082$478
18 years$2,121$1,755$1,444$1,181$962$400
19 years$1,989$1,627$1,322$1,067$857$336
20 years$1,869$1,512$1,213$967$766$282
21 years$1,762$1,408$1,116$877$685$238
22 years$1,664$1,314$1,028$798$614$200
23 years$1,575$1,229$949$726$551$169
24 years$1,493$1,152$878$663$496$142
25 years$1,418$1,081$813$605$446$120
26 years$1,349$1,016$754$553$402$101
27 years$1,285$956$700$506$362$85
28 years$1,226$901$651$464$327$72
29 years$1,171$850$606$425$295$61
30 years$1,120$803$564$390$267$52
31 years$1,072$759$526$359$241$44
32 years$1,027$718$491$330$218$37
33 years$985$680$458$303$197$31
34 years$946$644$428$279$179$26
35 years$908$611$400$257$162$22
36 years$874$580$375$236$147$19
37 years$841$551$351$218$133$16
38 years$809$524$328$201$120$13
39 years$780$498$308$185$109$11
40 years$752$474$288$171$99$10
41 years$725$451$270$158$90$8
42 years$700$429$254$145$82$7
43 years$676$409$238$134$74$6
44 years$653$390$223$124$67$5
45 years$632$372$210$114$61$4
46 years$611$355$197$106$55$4
47 years$591$339$185$98$50$3
48 years$572$323$174$90$46$3
49 years$554$309$163$83$41$2
50 years$537$295$154$77$38$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $550,000, adding $4,461 every year, while hoping to spend $30,469 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: 46/40/14 Blend
60$550,000$550,000$550,000$550,000
61$610,702$581,552$573,027$636,179
62$640,574$577,629$559,804$650,400
63$672,473$572,493$545,118$662,362
64$706,572$566,051$528,886$674,671
65$743,062$558,208$511,024$687,371
66$782,154$548,860$491,442$700,511
67$824,077$537,897$470,049$714,150
68$869,084$525,205$446,746$728,352
69$917,451$510,661$421,433$743,193
70$969,483$494,135$394,003$758,756
71$1,025,513$475,491$364,345$775,138
72$1,085,909$454,583$332,344$792,447
73$1,151,072$431,258$297,878$810,805
74$1,221,446$405,354$260,821$830,350
75$1,297,516$376,699$221,042$851,237
76$1,379,817$345,112$178,401$873,642
77$1,468,937$310,400$132,755$897,762
78$1,565,520$272,362$83,955$923,816
79$1,670,278$230,782$31,842$952,052
80$1,783,990$185,435$0$982,747
81$1,907,517$136,081$0$1,019,764
82$2,041,803$82,468$0$1,065,205
83$2,187,886$24,329$0$1,114,723
84$2,346,912$0$0$1,168,780
85$2,520,138$0$0$1,244,887
86$2,708,949$0$0$1,339,571
87$2,914,870$0$0$1,442,896
88$3,139,576$0$0$1,555,711
89$3,384,916$0$0$1,678,951
90$3,652,921$0$0$1,813,645
91$3,945,828$0$0$1,960,926
92$4,266,103$0$0$2,122,041
93$4,616,455$0$0$2,298,365
94$4,999,873$0$0$2,491,411
95$5,419,645$0$0$2,702,843
96$5,879,391$0$0$2,934,496
97$6,383,101$0$0$3,188,391
98$6,935,165$0$0$3,466,753
99$7,540,420$0$0$3,772,031
100$8,204,195$0$0$4,106,925