Can I retire at age 61 with 551,000?

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 $551,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$45,501$45,096$44,700$44,314$43,938$43,245
2 years$22,525$22,106$21,699$21,305$20,923$20,227
3 years$14,868$14,446$14,041$13,650$13,274$12,597
4 years$11,040$10,620$10,218$9,834$9,467$8,813
5 years$8,743$8,326$7,930$7,554$7,197$6,568
6 years$7,213$6,799$6,408$6,041$5,695$5,092
7 years$6,120$5,710$5,325$4,966$4,631$4,055
8 years$5,301$4,894$4,516$4,166$3,842$3,292
9 years$4,665$4,261$3,890$3,549$3,236$2,711
10 years$4,155$3,756$3,391$3,059$2,757$2,258
11 years$3,739$3,344$2,986$2,662$2,371$1,897
12 years$3,393$3,001$2,650$2,335$2,055$1,605
13 years$3,099$2,712$2,367$2,062$1,792$1,366
14 years$2,848$2,465$2,127$1,830$1,571$1,168
15 years$2,631$2,252$1,920$1,632$1,383$1,003
16 years$2,441$2,066$1,741$1,461$1,222$863
17 years$2,274$1,903$1,584$1,313$1,084$746
18 years$2,125$1,758$1,446$1,183$964$645
19 years$1,992$1,630$1,324$1,069$859$560
20 years$1,873$1,514$1,215$968$767$486
21 years$1,765$1,411$1,118$879$686$423
22 years$1,667$1,317$1,030$799$615$369
23 years$1,577$1,232$951$728$552$322
24 years$1,496$1,154$880$664$496$281
25 years$1,421$1,083$815$606$447$245
26 years$1,351$1,018$756$554$402$215
27 years$1,287$958$702$507$363$188
28 years$1,228$903$652$465$327$164
29 years$1,173$851$607$426$296$144
30 years$1,122$804$565$391$267$126
31 years$1,074$760$527$359$241$111
32 years$1,029$719$492$330$218$97
33 years$987$681$459$304$198$85
34 years$947$646$429$279$179$75
35 years$910$612$401$257$162$65
36 years$875$581$375$237$147$57
37 years$842$552$351$218$133$50
38 years$811$525$329$201$121$44
39 years$781$499$308$185$109$39
40 years$753$475$289$171$99$34
41 years$727$452$271$158$90$30
42 years$702$430$254$146$82$26
43 years$678$410$238$134$74$23
44 years$655$391$224$124$67$20
45 years$633$373$210$115$61$18
46 years$612$355$197$106$55$16
47 years$592$339$185$98$50$14
48 years$573$324$174$90$46$12
49 years$555$309$164$84$42$11
50 years$538$295$154$77$38$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $551,000, adding $3,079 every year, while hoping to spend $29,573 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: 57/27/16 Blend
60$551,000$551,000$551,000$551,000
61$610,378$581,175$572,634$642,456
62$641,171$578,187$560,352$661,579
63$674,114$574,062$546,667$678,917
64$709,395$568,712$531,502$697,133
65$747,219$562,045$514,774$716,319
66$787,814$553,964$496,397$736,574
67$831,428$544,365$476,283$758,011
68$878,333$533,138$454,338$780,754
69$928,828$520,167$430,463$804,942
70$983,242$505,329$404,557$830,730
71$1,041,936$488,493$376,514$858,290
72$1,105,307$469,522$346,220$887,813
73$1,173,790$448,271$313,560$919,514
74$1,247,864$424,583$278,412$953,629
75$1,328,055$398,297$240,648$990,421
76$1,414,943$369,240$200,136$1,030,184
77$1,509,163$337,229$156,736$1,073,242
78$1,611,416$302,071$110,305$1,119,956
79$1,722,470$263,562$60,690$1,170,727
80$1,843,172$221,487$7,733$1,226,000
81$1,974,454$175,618$0$1,286,268
82$2,117,340$125,715$0$1,360,407
83$2,272,957$71,524$0$1,442,644
84$2,442,546$12,776$0$1,532,362
85$2,627,472$0$0$1,630,338
86$2,829,238$0$0$1,752,527
87$3,049,498$0$0$1,890,105
88$3,290,072$0$0$2,040,419
89$3,552,965$0$0$2,204,727
90$3,840,382$0$0$2,384,414
91$4,154,755$0$0$2,581,006
92$4,498,757$0$0$2,796,181
93$4,875,334$0$0$3,031,789
94$5,287,729$0$0$3,289,867
95$5,739,515$0$0$3,572,658
96$6,234,625$0$0$3,882,630
97$6,777,390$0$0$4,222,505
98$7,372,584$0$0$4,595,279
99$8,025,459$0$0$5,004,250
100$8,741,806$0$0$5,453,055