Can I retire at age 61 with 562,000?

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 $562,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$46,409$45,996$45,593$45,199$44,815$43,259
2 years$22,975$22,547$22,132$21,730$21,340$19,789
3 years$15,164$14,735$14,321$13,923$13,539$12,041
4 years$11,260$10,832$10,422$10,031$9,656$8,223
5 years$8,918$8,492$8,088$7,704$7,341$5,976
6 years$7,357$6,934$6,536$6,161$5,808$4,513
7 years$6,243$5,824$5,432$5,066$4,724$3,497
8 years$5,407$4,992$4,607$4,249$3,919$2,761
9 years$4,758$4,346$3,968$3,620$3,300$2,209
10 years$4,238$3,831$3,459$3,120$2,812$1,786
11 years$3,814$3,411$3,045$2,715$2,418$1,455
12 years$3,460$3,061$2,703$2,382$2,096$1,193
13 years$3,161$2,766$2,415$2,103$1,827$983
14 years$2,905$2,515$2,170$1,867$1,602$813
15 years$2,684$2,297$1,959$1,665$1,410$675
16 years$2,490$2,108$1,776$1,491$1,247$562
17 years$2,319$1,941$1,616$1,339$1,105$469
18 years$2,167$1,794$1,475$1,207$983$391
19 years$2,032$1,662$1,350$1,091$876$328
20 years$1,910$1,545$1,239$988$782$274
21 years$1,800$1,439$1,140$896$700$230
22 years$1,700$1,343$1,051$815$628$193
23 years$1,609$1,256$970$742$563$162
24 years$1,526$1,177$897$677$506$136
25 years$1,449$1,104$831$618$456$115
26 years$1,378$1,038$771$565$410$97
27 years$1,313$977$716$517$370$81
28 years$1,253$921$665$474$334$68
29 years$1,196$868$619$435$302$58
30 years$1,144$820$577$399$272$48
31 years$1,095$775$538$366$246$41
32 years$1,049$734$502$337$223$34
33 years$1,006$695$468$310$202$29
34 years$966$658$438$285$183$24
35 years$928$625$409$262$165$21
36 years$893$593$383$242$150$17
37 years$859$563$358$223$136$15
38 years$827$535$335$205$123$12
39 years$797$509$314$189$112$10
40 years$768$484$295$174$101$9
41 years$741$461$276$161$92$7
42 years$716$439$259$149$83$6
43 years$691$418$243$137$76$5
44 years$668$399$228$127$69$4
45 years$646$380$214$117$62$4
46 years$624$363$201$108$57$3
47 years$604$346$189$100$51$3
48 years$585$330$178$92$47$2
49 years$566$315$167$85$42$2
50 years$549$301$157$79$39$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $562,000, adding $2,797 every year, while hoping to spend $28,448 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: 59/22/19 Blend
60$562,000$562,000$562,000$562,000
61$622,209$592,423$583,712$655,665
62$655,406$591,183$572,998$677,422
63$691,035$588,929$560,972$697,780
64$729,316$585,582$547,559$719,339
65$770,486$581,055$532,682$742,219
66$814,809$575,261$516,261$766,557
67$862,574$568,103$498,210$792,499
68$914,098$559,481$478,441$820,213
69$969,728$549,288$456,861$849,882
70$1,029,848$537,411$433,373$881,709
71$1,094,879$523,730$407,877$915,921
72$1,165,282$508,118$380,267$952,769
73$1,241,566$490,441$350,431$992,530
74$1,324,290$470,557$318,255$1,035,512
75$1,414,068$448,315$283,617$1,082,056
76$1,511,577$423,556$246,392$1,132,541
77$1,617,560$396,112$206,448$1,187,386
78$1,732,835$365,806$163,648$1,247,054
79$1,858,301$332,448$117,848$1,312,059
80$1,994,950$295,840$68,898$1,382,970
81$2,143,871$255,772$16,642$1,460,417
82$2,306,264$212,023$0$1,545,095
83$2,483,447$164,356$0$1,645,707
84$2,676,874$112,525$0$1,759,290
85$2,888,145$56,268$0$1,883,446
86$3,119,019$0$0$2,019,256
87$3,371,435$0$0$2,169,048
88$3,647,528$0$0$2,347,834
89$3,949,646$0$0$2,543,518
90$4,280,378$0$0$2,757,783
91$4,642,573$0$0$2,992,480
92$5,039,367$0$0$3,249,648
93$5,474,217$0$0$3,531,533
94$5,950,928$0$0$3,840,608
95$6,473,691$0$0$4,179,598
96$7,047,122$0$0$4,551,504
97$7,676,307$0$0$4,959,630
98$8,366,845$0$0$5,407,617
99$9,124,907$0$0$5,899,474
100$9,957,287$0$0$6,439,620