Can I retire at age 61 with 493,000?

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 $493,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$40,711$40,349$39,995$39,650$39,313$38,870
2 years$20,154$19,779$19,415$19,062$18,720$18,274
3 years$13,303$12,926$12,563$12,213$11,877$11,442
4 years$9,878$9,502$9,143$8,799$8,471$8,050
5 years$7,823$7,449$7,095$6,759$6,439$6,034
6 years$6,454$6,083$5,734$5,405$5,095$4,706
7 years$5,476$5,109$4,765$4,444$4,144$3,770
8 years$4,743$4,379$4,041$3,728$3,438$3,080
9 years$4,174$3,813$3,480$3,175$2,895$2,554
10 years$3,718$3,361$3,034$2,737$2,467$2,141
11 years$3,346$2,992$2,671$2,382$2,121$1,811
12 years$3,035$2,685$2,371$2,089$1,838$1,543
13 years$2,773$2,427$2,118$1,845$1,603$1,323
14 years$2,549$2,206$1,903$1,637$1,405$1,139
15 years$2,354$2,015$1,718$1,460$1,237$985
16 years$2,184$1,849$1,558$1,308$1,094$855
17 years$2,034$1,703$1,418$1,175$970$744
18 years$1,901$1,573$1,294$1,059$862$649
19 years$1,782$1,458$1,185$957$768$568
20 years$1,676$1,355$1,087$866$686$497
21 years$1,579$1,262$1,000$786$614$436
22 years$1,491$1,178$922$715$551$383
23 years$1,411$1,102$851$651$494$337
24 years$1,338$1,032$787$594$444$297
25 years$1,271$969$729$542$400$262
26 years$1,209$911$676$496$360$231
27 years$1,152$857$628$454$325$204
28 years$1,099$808$584$416$293$180
29 years$1,049$762$543$381$264$159
30 years$1,004$719$506$350$239$141
31 years$961$680$472$321$216$124
32 years$921$644$440$295$195$110
33 years$883$609$411$272$177$97
34 years$848$578$384$250$160$86
35 years$814$548$359$230$145$76
36 years$783$520$336$212$131$68
37 years$753$494$314$195$119$60
38 years$726$469$294$180$108$53
39 years$699$446$276$166$98$47
40 years$674$425$258$153$89$42
41 years$650$404$242$141$81$37
42 years$628$385$227$130$73$33
43 years$606$367$213$120$66$29
44 years$586$350$200$111$60$26
45 years$566$333$188$103$55$23
46 years$548$318$177$95$50$20
47 years$530$303$166$88$45$18
48 years$513$290$156$81$41$16
49 years$497$277$147$75$37$14
50 years$481$264$138$69$34$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $493,000, adding $2,274 every year, while hoping to spend $48,699 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: 63/10/27 Blend
60$493,000$493,000$493,000$493,000
61$545,632$519,503$511,861$575,955
62$549,471$493,143$477,193$570,417
63$552,069$463,859$439,732$558,823
64$553,249$431,457$399,331$545,102
65$552,813$395,731$355,841$529,051
66$550,541$356,463$309,103$510,452
67$546,189$313,422$258,951$489,066
68$539,487$266,367$205,213$464,631
69$530,136$215,041$147,709$436,862
70$517,803$159,171$86,250$405,448
71$502,120$98,472$20,641$370,049
72$482,680$32,640$0$330,292
73$459,032$0$0$299,996
74$430,675$0$0$276,016
75$397,059$0$0$251,953
76$357,570$0$0$223,791
77$311,534$0$0$191,059
78$258,203$0$0$153,239
79$196,752$0$0$109,757
80$126,267$0$0$59,976
81$45,741$0$0$3,198
82$0$0$0$0
83$0$0$0$0
84$0$0$0$0
85$0$0$0$0
86$0$0$0$0
87$0$0$0$0
88$0$0$0$0
89$0$0$0$0
90$0$0$0$0
91$0$0$0$0
92$0$0$0$0
93$0$0$0$0
94$0$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0