Can I retire at age 61 with 487,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $487,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$40,216$39,858$39,508$39,167$38,834$37,606
2 years$19,909$19,538$19,179$18,830$18,492$17,266
3 years$13,141$12,768$12,410$12,065$11,732$10,547
4 years$9,757$9,386$9,031$8,692$8,368$7,231
5 years$7,728$7,359$7,009$6,676$6,361$5,277
6 years$6,375$6,009$5,664$5,339$5,033$4,003
7 years$5,410$5,046$4,707$4,390$4,093$3,117
8 years$4,686$4,326$3,992$3,682$3,396$2,472
9 years$4,123$3,766$3,438$3,136$2,860$1,987
10 years$3,673$3,320$2,997$2,704$2,437$1,615
11 years$3,305$2,955$2,639$2,353$2,096$1,322
12 years$2,998$2,653$2,342$2,064$1,816$1,090
13 years$2,739$2,397$2,092$1,822$1,584$903
14 years$2,518$2,179$1,880$1,617$1,388$751
15 years$2,326$1,991$1,697$1,443$1,222$627
16 years$2,158$1,826$1,539$1,292$1,080$525
17 years$2,010$1,682$1,400$1,161$958$440
18 years$1,878$1,554$1,278$1,046$852$370
19 years$1,761$1,440$1,170$945$759$312
20 years$1,655$1,338$1,074$856$678$263
21 years$1,560$1,247$988$777$607$222
22 years$1,473$1,164$910$706$544$187
23 years$1,394$1,088$841$643$488$158
24 years$1,322$1,020$777$587$439$134
25 years$1,256$957$720$536$395$113
26 years$1,194$899$668$490$356$96
27 years$1,138$847$620$448$321$81
28 years$1,085$798$577$411$289$69
29 years$1,037$753$537$377$261$58
30 years$991$711$500$346$236$49
31 years$949$672$466$318$213$42
32 years$909$636$435$292$193$36
33 years$872$602$406$268$175$30
34 years$837$571$379$247$158$26
35 years$804$541$355$227$143$22
36 years$773$514$332$209$130$18
37 years$744$488$310$193$118$16
38 years$717$464$291$178$107$13
39 years$691$441$272$164$97$11
40 years$666$419$255$151$88$10
41 years$642$399$239$139$80$8
42 years$620$380$225$129$72$7
43 years$599$362$211$119$66$6
44 years$579$345$198$110$60$5
45 years$559$329$186$101$54$4
46 years$541$314$174$94$49$4
47 years$524$300$164$86$45$3
48 years$507$286$154$80$40$3
49 years$491$273$145$74$37$2
50 years$475$261$136$68$33$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $487,000, adding $2,837 every year, while hoping to spend $30,480 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: 51/34/15 Blend
60$487,000$487,000$487,000$487,000
61$539,600$513,789$506,241$564,779
62$562,209$506,535$490,769$575,105
63$586,102$497,903$473,758$582,893
64$611,379$487,794$455,123$590,683
65$638,147$476,103$434,777$598,483
66$666,524$462,719$412,628$606,307
67$696,639$447,521$388,581$614,169
68$728,633$430,387$362,535$622,089
69$762,660$411,182$334,386$630,090
70$798,888$389,767$304,025$638,200
71$837,503$365,993$271,338$646,452
72$878,705$339,704$236,205$654,886
73$922,717$310,734$198,502$663,547
74$969,782$278,907$158,099$672,489
75$1,020,165$244,038$114,861$681,775
76$1,074,158$205,933$68,645$691,478
77$1,132,081$164,383$19,304$701,680
78$1,194,286$119,170$0$712,477
79$1,261,158$70,064$0$729,317
80$1,333,120$16,821$0$750,631
81$1,410,637$0$0$773,495
82$1,494,219$0$0$813,369
83$1,584,427$0$0$863,236
84$1,681,877$0$0$917,147
85$1,787,245$0$0$975,481
86$1,901,276$0$0$1,038,655
87$2,024,788$0$0$1,107,130
88$2,158,681$0$0$1,181,408
89$2,303,942$0$0$1,262,046
90$2,461,659$0$0$1,349,653
91$2,633,030$0$0$1,444,900
92$2,819,369$0$0$1,548,527
93$3,022,124$0$0$1,661,345
94$3,242,889$0$0$1,784,249
95$3,483,415$0$0$1,918,222
96$3,745,633$0$0$2,064,349
97$4,031,664$0$0$2,223,819
98$4,343,846$0$0$2,397,947
99$4,684,750$0$0$2,588,176
100$5,057,208$0$0$2,796,095