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%15.3%
1 years$40,464$40,103$39,752$39,408$39,073$38,222
2 years$20,032$19,658$19,297$18,946$18,606$17,753
3 years$13,222$12,847$12,486$12,139$11,805$10,976
4 years$9,817$9,444$9,087$8,746$8,419$7,621
5 years$7,775$7,404$7,052$6,717$6,400$5,635
6 years$6,415$6,046$5,699$5,372$5,064$4,333
7 years$5,443$5,077$4,736$4,417$4,119$3,422
8 years$4,714$4,352$4,016$3,705$3,417$2,754
9 years$4,148$3,789$3,459$3,156$2,877$2,248
10 years$3,695$3,340$3,016$2,720$2,452$1,855
11 years$3,325$2,974$2,655$2,368$2,109$1,544
12 years$3,017$2,669$2,356$2,077$1,827$1,294
13 years$2,756$2,412$2,105$1,833$1,593$1,090
14 years$2,533$2,192$1,892$1,627$1,397$923
15 years$2,340$2,003$1,708$1,451$1,230$784
16 years$2,171$1,838$1,548$1,300$1,087$668
17 years$2,022$1,692$1,409$1,168$964$571
18 years$1,890$1,564$1,286$1,052$857$489
19 years$1,772$1,449$1,177$951$764$419
20 years$1,665$1,347$1,081$861$682$360
21 years$1,569$1,254$994$782$610$310
22 years$1,482$1,171$916$711$547$267
23 years$1,403$1,095$846$647$491$230
24 years$1,330$1,026$782$590$442$198
25 years$1,263$963$725$539$397$171
26 years$1,202$905$672$493$358$148
27 years$1,145$852$624$451$323$128
28 years$1,092$803$580$413$291$111
29 years$1,043$757$540$379$263$96
30 years$997$715$503$348$238$83
31 years$955$676$469$319$215$72
32 years$915$640$437$294$194$62
33 years$878$606$408$270$176$54
34 years$842$574$382$248$159$47
35 years$809$544$357$229$144$40
36 years$778$517$334$211$131$35
37 years$749$491$312$194$118$30
38 years$721$466$292$179$107$26
39 years$695$444$274$165$97$23
40 years$670$422$257$152$88$20
41 years$646$402$241$140$80$17
42 years$624$383$226$130$73$15
43 years$603$365$212$120$66$13
44 years$582$347$199$110$60$11
45 years$563$331$187$102$54$10
46 years$544$316$175$94$49$8
47 years$527$302$165$87$45$7
48 years$510$288$155$80$41$6
49 years$494$275$146$74$37$5
50 years$478$263$137$69$34$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $490,000, adding $4,264 every year, while hoping to spend $22,640 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: 72/12/16 Blend
60$490,000$490,000$490,000$490,000
61$544,378$518,408$510,813$581,284
62$575,816$519,722$503,837$607,652
63$609,702$520,340$495,868$633,363
64$646,261$520,207$486,849$660,929
65$685,742$519,259$476,721$690,529
66$728,417$517,432$465,421$722,361
67$774,586$514,657$452,883$756,644
68$824,579$510,860$439,039$793,617
69$878,756$505,963$423,817$833,548
70$937,517$499,882$407,143$876,728
71$1,001,299$492,532$388,937$923,482
72$1,070,584$483,818$369,119$974,166
73$1,145,901$473,643$347,602$1,029,174
74$1,227,833$461,901$324,296$1,088,941
75$1,317,021$448,484$299,109$1,153,946
76$1,414,171$433,273$271,943$1,224,717
77$1,520,058$416,145$242,696$1,301,840
78$1,635,538$396,971$211,260$1,385,956
79$1,761,551$375,610$177,525$1,477,778
80$1,899,131$351,917$141,374$1,578,088
81$2,049,418$325,737$102,686$1,687,751
82$2,213,667$296,906$61,334$1,807,722
83$2,393,258$265,251$17,186$1,939,051
84$2,589,712$230,590$0$2,082,900
85$2,804,704$192,730$0$2,245,659
86$3,040,075$151,466$0$2,427,093
87$3,297,858$106,582$0$2,625,849
88$3,580,286$57,852$0$2,843,672
89$3,889,823$5,034$0$3,082,485
90$4,229,179$0$0$3,344,407
91$4,601,342$0$0$3,638,658
92$5,009,600$0$0$3,962,200
93$5,457,576$0$0$4,317,245
94$5,949,261$0$0$4,706,958
95$6,489,051$0$0$5,134,826
96$7,081,788$0$0$5,604,691
97$7,732,806$0$0$6,120,785
98$8,447,981$0$0$6,687,769
99$9,233,787$0$0$7,310,780
100$10,097,354$0$0$7,995,475