Can I retire at age 61 with 480,000?

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 $480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$39,638$39,285$38,940$38,604$38,276$37,987
2 years$19,623$19,257$18,903$18,560$18,227$17,935
3 years$12,952$12,585$12,232$11,891$11,564$11,279
4 years$9,617$9,251$8,901$8,567$8,247$7,972
5 years$7,617$7,253$6,908$6,580$6,269$6,003
6 years$6,284$5,923$5,583$5,262$4,961$4,705
7 years$5,332$4,974$4,639$4,326$4,034$3,788
8 years$4,618$4,264$3,934$3,629$3,347$3,111
9 years$4,064$3,712$3,389$3,091$2,819$2,593
10 years$3,620$3,272$2,954$2,665$2,402$2,186
11 years$3,257$2,913$2,601$2,319$2,065$1,859
12 years$2,955$2,614$2,308$2,034$1,790$1,593
13 years$2,700$2,363$2,062$1,796$1,561$1,374
14 years$2,481$2,148$1,853$1,594$1,368$1,190
15 years$2,292$1,962$1,673$1,422$1,205$1,036
16 years$2,127$1,800$1,517$1,273$1,065$904
17 years$1,981$1,658$1,380$1,144$944$792
18 years$1,851$1,532$1,260$1,031$839$695
19 years$1,735$1,420$1,153$931$748$612
20 years$1,631$1,319$1,059$844$668$540
21 years$1,537$1,229$974$766$598$477
22 years$1,452$1,147$897$696$536$422
23 years$1,374$1,073$829$634$481$373
24 years$1,303$1,005$766$578$433$331
25 years$1,238$943$710$528$389$294
26 years$1,177$887$658$483$351$261
27 years$1,121$834$611$442$316$232
28 years$1,070$786$568$405$285$206
29 years$1,022$742$529$371$258$184
30 years$977$700$493$341$233$164
31 years$935$662$459$313$210$146
32 years$896$627$428$288$190$130
33 years$860$593$400$265$172$116
34 years$825$562$374$243$156$103
35 years$793$533$349$224$141$92
36 years$762$506$327$206$128$82
37 years$734$481$306$190$116$73
38 years$706$457$287$175$105$66
39 years$681$435$268$162$95$59
40 years$656$413$252$149$86$52
41 years$633$394$236$137$78$47
42 years$611$375$221$127$71$42
43 years$590$357$208$117$65$37
44 years$570$340$195$108$59$33
45 years$551$325$183$100$53$30
46 years$533$310$172$92$48$27
47 years$516$295$162$85$44$24
48 years$500$282$152$79$40$21
49 years$484$269$143$73$36$19
50 years$469$257$134$67$33$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $480,000, adding $3,149 every year, while hoping to spend $20,147 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: 78/8/14 Blend
60$480,000$480,000$480,000$480,000
61$532,208$506,768$499,328$571,954
62$565,057$510,164$494,619$601,970
63$600,582$513,050$489,078$632,005
64$639,033$515,382$482,654$664,384
65$680,688$517,109$475,296$699,333
66$725,850$518,180$466,951$737,100
67$774,855$518,538$457,562$777,962
68$828,070$518,126$447,070$822,220
69$885,899$516,881$435,413$870,208
70$948,788$514,735$422,526$922,294
71$1,017,226$511,619$408,343$978,884
72$1,091,752$507,457$392,792$1,040,423
73$1,172,960$502,171$375,798$1,107,404
74$1,261,500$495,676$357,286$1,180,370
75$1,358,092$487,883$337,174$1,259,919
76$1,463,526$478,698$315,378$1,346,710
77$1,578,671$468,020$291,809$1,441,471
78$1,704,487$455,744$266,376$1,545,001
79$1,842,026$441,757$238,981$1,658,185
80$1,992,450$425,941$209,524$1,781,995
81$2,157,038$408,169$177,901$1,917,505
82$2,337,196$388,310$144,001$2,065,897
83$2,534,475$366,222$107,710$2,228,476
84$2,750,581$341,757$68,908$2,406,679
85$2,987,394$314,756$27,470$2,602,090
86$3,246,984$285,055$0$2,816,457
87$3,531,630$252,477$0$3,054,205
88$3,843,845$216,837$0$3,319,499
89$4,186,393$177,937$0$3,610,589
90$4,562,321$135,572$0$3,930,078
91$4,974,984$89,521$0$4,280,832
92$5,428,079$39,555$0$4,666,007
93$5,925,678$0$0$5,089,084
94$6,472,265$0$0$5,555,178
95$7,072,783$0$0$6,071,104
96$7,732,675$0$0$6,638,056
97$8,457,937$0$0$7,261,191
98$9,255,177$0$0$7,946,185
99$10,131,673$0$0$8,699,296
100$11,095,444$0$0$9,527,417