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%16.6%
1 years$40,464$40,103$39,752$39,408$39,073$38,021
2 years$20,032$19,658$19,297$18,946$18,606$17,553
3 years$13,222$12,847$12,486$12,139$11,805$10,784
4 years$9,817$9,444$9,087$8,746$8,419$7,439
5 years$7,775$7,404$7,052$6,717$6,400$5,463
6 years$6,415$6,046$5,699$5,372$5,064$4,171
7 years$5,443$5,077$4,736$4,417$4,119$3,270
8 years$4,714$4,352$4,016$3,705$3,417$2,612
9 years$4,148$3,789$3,459$3,156$2,877$2,115
10 years$3,695$3,340$3,016$2,720$2,452$1,732
11 years$3,325$2,974$2,655$2,368$2,109$1,429
12 years$3,017$2,669$2,356$2,077$1,827$1,187
13 years$2,756$2,412$2,105$1,833$1,593$992
14 years$2,533$2,192$1,892$1,627$1,397$832
15 years$2,340$2,003$1,708$1,451$1,230$700
16 years$2,171$1,838$1,548$1,300$1,087$591
17 years$2,022$1,692$1,409$1,168$964$500
18 years$1,890$1,564$1,286$1,052$857$424
19 years$1,772$1,449$1,177$951$764$361
20 years$1,665$1,347$1,081$861$682$307
21 years$1,569$1,254$994$782$610$261
22 years$1,482$1,171$916$711$547$223
23 years$1,403$1,095$846$647$491$190
24 years$1,330$1,026$782$590$442$162
25 years$1,263$963$725$539$397$139
26 years$1,202$905$672$493$358$119
27 years$1,145$852$624$451$323$101
28 years$1,092$803$580$413$291$87
29 years$1,043$757$540$379$263$74
30 years$997$715$503$348$238$64
31 years$955$676$469$319$215$54
32 years$915$640$437$294$194$47
33 years$878$606$408$270$176$40
34 years$842$574$382$248$159$34
35 years$809$544$357$229$144$29
36 years$778$517$334$211$131$25
37 years$749$491$312$194$118$22
38 years$721$466$292$179$107$18
39 years$695$444$274$165$97$16
40 years$670$422$257$152$88$14
41 years$646$402$241$140$80$12
42 years$624$383$226$130$73$10
43 years$603$365$212$120$66$9
44 years$582$347$199$110$60$7
45 years$563$331$187$102$54$6
46 years$544$316$175$94$49$5
47 years$527$302$165$87$45$5
48 years$510$288$155$80$41$4
49 years$494$275$146$74$37$3
50 years$478$263$137$69$34$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $490,000, adding $6,859 every year, while hoping to spend $22,098 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: 26/44/30 Blend
60$490,000$490,000$490,000$490,000
61$547,055$521,085$513,490$556,051
62$579,343$523,106$507,180$566,056
63$614,183$524,486$499,918$574,467
64$651,813$525,169$491,648$583,044
65$692,493$525,097$482,314$591,818
66$736,510$524,209$471,854$600,824
67$784,178$522,440$460,205$610,102
68$835,843$519,718$447,301$619,699
69$891,886$515,972$433,072$629,667
70$952,725$511,121$417,447$640,069
71$1,018,820$505,083$400,349$650,974
72$1,090,679$497,771$381,699$662,462
73$1,168,856$489,090$361,415$674,624
74$1,253,967$478,943$339,409$687,564
75$1,346,684$467,223$315,591$701,398
76$1,447,749$453,821$289,868$716,258
77$1,557,980$438,619$262,139$732,294
78$1,678,275$421,492$232,301$749,673
79$1,809,624$402,310$200,248$768,586
80$1,953,115$380,933$165,866$789,245
81$2,109,949$357,214$129,038$811,890
82$2,281,444$330,998$89,642$836,790
83$2,469,054$302,120$47,548$864,244
84$2,674,381$270,407$2,623$894,590
85$2,899,185$235,674$0$928,205
86$3,145,408$197,728$0$980,017
87$3,415,186$156,364$0$1,037,829
88$3,710,874$111,364$0$1,101,374
89$4,035,063$62,501$0$1,171,290
90$4,390,608$9,532$0$1,248,281
91$4,780,654$0$0$1,333,132
92$5,208,664$0$0$1,449,851
93$5,678,453$0$0$1,583,115
94$6,194,223$0$0$1,729,511
95$6,760,604$0$0$1,890,365
96$7,382,694$0$0$2,067,136
97$8,066,112$0$0$2,261,432
98$8,817,046$0$0$2,475,025
99$9,642,313$0$0$2,709,867
100$10,549,424$0$0$2,968,107