Can I retire at age 61 with 490,000?

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 $490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$40,464$40,103$39,752$39,408$39,073$37,898
2 years$20,032$19,658$19,297$18,946$18,606$17,433
3 years$13,222$12,847$12,486$12,139$11,805$10,669
4 years$9,817$9,444$9,087$8,746$8,419$7,330
5 years$7,775$7,404$7,052$6,717$6,400$5,360
6 years$6,415$6,046$5,699$5,372$5,064$4,075
7 years$5,443$5,077$4,736$4,417$4,119$3,180
8 years$4,714$4,352$4,016$3,705$3,417$2,528
9 years$4,148$3,789$3,459$3,156$2,877$2,037
10 years$3,695$3,340$3,016$2,720$2,452$1,659
11 years$3,325$2,974$2,655$2,368$2,109$1,363
12 years$3,017$2,669$2,356$2,077$1,827$1,126
13 years$2,756$2,412$2,105$1,833$1,593$936
14 years$2,533$2,192$1,892$1,627$1,397$781
15 years$2,340$2,003$1,708$1,451$1,230$653
16 years$2,171$1,838$1,548$1,300$1,087$549
17 years$2,022$1,692$1,409$1,168$964$462
18 years$1,890$1,564$1,286$1,052$857$389
19 years$1,772$1,449$1,177$951$764$329
20 years$1,665$1,347$1,081$861$682$278
21 years$1,569$1,254$994$782$610$235
22 years$1,482$1,171$916$711$547$199
23 years$1,403$1,095$846$647$491$169
24 years$1,330$1,026$782$590$442$143
25 years$1,263$963$725$539$397$122
26 years$1,202$905$672$493$358$103
27 years$1,145$852$624$451$323$88
28 years$1,092$803$580$413$291$75
29 years$1,043$757$540$379$263$64
30 years$997$715$503$348$238$54
31 years$955$676$469$319$215$46
32 years$915$640$437$294$194$39
33 years$878$606$408$270$176$33
34 years$842$574$382$248$159$28
35 years$809$544$357$229$144$24
36 years$778$517$334$211$131$21
37 years$749$491$312$194$118$17
38 years$721$466$292$179$107$15
39 years$695$444$274$165$97$13
40 years$670$422$257$152$88$11
41 years$646$402$241$140$80$9
42 years$624$383$226$130$73$8
43 years$603$365$212$120$66$7
44 years$582$347$199$110$60$6
45 years$563$331$187$102$54$5
46 years$544$316$175$94$49$4
47 years$527$302$165$87$45$4
48 years$510$288$155$80$41$3
49 years$494$275$146$74$37$3
50 years$478$263$137$69$34$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $490,000, adding $5,666 every year, while hoping to spend $27,534 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: 67/7/26 Blend
60$490,000$490,000$490,000$490,000
61$545,824$519,854$512,259$578,356
62$572,203$516,031$500,124$597,118
63$600,348$511,098$486,660$613,994
64$630,413$504,971$471,792$631,823
65$662,563$497,562$455,444$650,703
66$696,979$488,778$437,537$670,738
67$733,861$478,518$417,984$692,046
68$773,427$466,677$396,699$714,757
69$815,917$453,145$373,589$739,015
70$861,595$437,803$348,558$764,981
71$910,749$420,527$321,506$792,831
72$963,697$401,185$292,328$822,762
73$1,020,787$379,636$260,915$854,992
74$1,082,403$355,733$227,150$889,761
75$1,148,964$329,320$190,916$927,338
76$1,220,934$300,232$152,087$968,017
77$1,298,819$268,294$110,533$1,012,127
78$1,383,180$233,322$66,116$1,060,029
79$1,474,630$195,120$18,697$1,112,125
80$1,573,844$153,483$0$1,168,858
81$1,681,565$108,192$0$1,239,571
82$1,798,611$59,019$0$1,322,066
83$1,925,879$5,721$0$1,411,797
84$2,064,358$0$0$1,509,473
85$2,215,136$0$0$1,619,880
86$2,379,411$0$0$1,740,678
87$2,558,499$0$0$1,872,397
88$2,753,850$0$0$2,016,109
89$2,967,060$0$0$2,172,989
90$3,199,886$0$0$2,344,336
91$3,454,260$0$0$2,531,575
92$3,732,312$0$0$2,736,279
93$4,036,386$0$0$2,960,176
94$4,369,062$0$0$3,205,173
95$4,733,181$0$0$3,473,365
96$5,131,872$0$0$3,767,063
97$5,568,581$0$0$4,088,809
98$6,047,101$0$0$4,441,405
99$6,571,612$0$0$4,827,935
100$7,146,716$0$0$5,251,797