Can I retire at age 61 with 493,000?

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 $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%12.3%
1 years$40,711$40,349$39,995$39,650$39,313$38,934
2 years$20,154$19,779$19,415$19,062$18,720$18,339
3 years$13,303$12,926$12,563$12,213$11,877$11,505
4 years$9,878$9,502$9,143$8,799$8,471$8,111
5 years$7,823$7,449$7,095$6,759$6,439$6,092
6 years$6,454$6,083$5,734$5,405$5,095$4,762
7 years$5,476$5,109$4,765$4,444$4,144$3,824
8 years$4,743$4,379$4,041$3,728$3,438$3,131
9 years$4,174$3,813$3,480$3,175$2,895$2,602
10 years$3,718$3,361$3,034$2,737$2,467$2,187
11 years$3,346$2,992$2,671$2,382$2,121$1,854
12 years$3,035$2,685$2,371$2,089$1,838$1,584
13 years$2,773$2,427$2,118$1,845$1,603$1,361
14 years$2,549$2,206$1,903$1,637$1,405$1,176
15 years$2,354$2,015$1,718$1,460$1,237$1,019
16 years$2,184$1,849$1,558$1,308$1,094$887
17 years$2,034$1,703$1,418$1,175$970$774
18 years$1,901$1,573$1,294$1,059$862$677
19 years$1,782$1,458$1,185$957$768$594
20 years$1,676$1,355$1,087$866$686$522
21 years$1,579$1,262$1,000$786$614$459
22 years$1,491$1,178$922$715$551$405
23 years$1,411$1,102$851$651$494$357
24 years$1,338$1,032$787$594$444$315
25 years$1,271$969$729$542$400$279
26 years$1,209$911$676$496$360$247
27 years$1,152$857$628$454$325$218
28 years$1,099$808$584$416$293$194
29 years$1,049$762$543$381$264$172
30 years$1,004$719$506$350$239$152
31 years$961$680$472$321$216$135
32 years$921$644$440$295$195$120
33 years$883$609$411$272$177$106
34 years$848$578$384$250$160$95
35 years$814$548$359$230$145$84
36 years$783$520$336$212$131$75
37 years$753$494$314$195$119$66
38 years$726$469$294$180$108$59
39 years$699$446$276$166$98$53
40 years$674$425$258$153$89$47
41 years$650$404$242$141$81$42
42 years$628$385$227$130$73$37
43 years$606$367$213$120$66$33
44 years$586$350$200$111$60$29
45 years$566$333$188$103$55$26
46 years$548$318$177$95$50$23
47 years$530$303$166$88$45$21
48 years$513$290$156$81$41$18
49 years$497$277$147$75$37$16
50 years$481$264$138$69$34$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $493,000, adding $6,761 every year, while hoping to spend $41,583 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: 49/32/19 Blend
60$493,000$493,000$493,000$493,000
61$550,260$524,131$516,489$573,988
62$562,142$505,569$489,548$572,572
63$573,843$484,705$460,310$566,245
64$585,300$461,380$428,655$558,490
65$596,443$435,429$394,457$549,187
66$607,192$406,678$357,584$538,210
67$617,460$374,939$317,897$525,421
68$627,148$340,019$275,254$510,673
69$636,146$301,708$229,503$493,809
70$644,329$259,788$180,488$474,656
71$651,561$214,028$128,045$453,031
72$657,689$164,184$72,003$428,736
73$662,541$109,997$12,183$401,557
74$665,927$51,194$0$371,263
75$667,637$0$0$348,077
76$667,436$0$0$328,982
77$665,062$0$0$326,711
78$660,227$0$0$323,079
79$652,610$0$0$317,913
80$641,855$0$0$311,019
81$627,567$0$0$302,184
82$609,309$0$0$291,169
83$586,598$0$0$277,713
84$558,897$0$0$261,526
85$525,613$0$0$242,284
86$486,090$0$0$219,634
87$439,601$0$0$193,182
88$385,345$0$0$162,493
89$322,433$0$0$127,086
90$249,884$0$0$86,429
91$166,614$0$0$39,937
92$71,425$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