Can I retire at age 61 with 500,000?

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 $500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$41,290$40,922$40,563$40,213$39,871$39,162
2 years$20,440$20,060$19,691$19,333$18,986$18,274
3 years$13,492$13,109$12,741$12,387$12,046$11,353
4 years$10,018$9,637$9,272$8,924$8,591$7,923
5 years$7,934$7,555$7,196$6,855$6,531$5,889
6 years$6,545$6,169$5,815$5,482$5,168$4,553
7 years$5,554$5,181$4,832$4,507$4,203$3,616
8 years$4,811$4,441$4,098$3,781$3,486$2,927
9 years$4,233$3,867$3,530$3,220$2,936$2,404
10 years$3,771$3,408$3,077$2,776$2,502$1,996
11 years$3,393$3,034$2,709$2,416$2,152$1,672
12 years$3,079$2,723$2,404$2,119$1,864$1,410
13 years$2,813$2,461$2,148$1,871$1,626$1,196
14 years$2,585$2,237$1,930$1,661$1,425$1,019
15 years$2,388$2,044$1,743$1,481$1,255$872
16 years$2,215$1,875$1,580$1,326$1,109$748
17 years$2,063$1,727$1,438$1,191$983$644
18 years$1,928$1,596$1,312$1,074$874$555
19 years$1,808$1,479$1,202$970$779$480
20 years$1,699$1,374$1,103$879$696$415
21 years$1,601$1,280$1,014$798$623$360
22 years$1,512$1,195$935$725$558$312
23 years$1,431$1,118$863$660$501$271
24 years$1,357$1,047$798$602$451$236
25 years$1,289$983$739$550$405$205
26 years$1,226$923$686$503$365$179
27 years$1,168$869$637$460$329$156
28 years$1,114$819$592$422$297$136
29 years$1,064$773$551$387$268$119
30 years$1,018$730$513$355$242$103
31 years$974$690$478$326$219$90
32 years$934$653$446$300$198$79
33 years$895$618$417$276$179$69
34 years$860$586$389$254$162$60
35 years$826$556$364$233$147$53
36 years$794$527$341$215$133$46
37 years$764$501$319$198$121$40
38 years$736$476$298$183$110$35
39 years$709$453$280$168$99$31
40 years$684$431$262$155$90$27
41 years$659$410$246$143$82$23
42 years$637$390$231$132$74$21
43 years$615$372$216$122$67$18
44 years$594$355$203$113$61$16
45 years$574$338$191$104$55$14
46 years$555$323$179$96$50$12
47 years$538$308$168$89$46$10
48 years$520$294$158$82$42$9
49 years$504$281$149$76$38$8
50 years$488$268$140$70$34$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $500,000, adding $2,762 every year, while hoping to spend $40,899 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: 57/38/5 Blend
60$500,000$500,000$500,000$500,000
61$553,849$527,349$519,599$584,733
62$566,825$509,673$493,489$588,126
63$579,755$489,760$465,134$586,952
64$592,589$467,457$434,415$584,646
65$605,273$442,603$401,209$581,105
66$617,747$415,027$365,386$576,215
67$629,942$384,548$326,810$569,854
68$641,780$350,974$285,342$561,889
69$653,174$314,104$240,834$552,179
70$664,027$273,725$193,131$540,569
71$674,230$229,610$142,074$526,892
72$683,662$181,522$87,494$510,969
73$692,187$129,208$29,216$492,606
74$699,654$72,402$0$471,591
75$705,893$10,824$0$449,457
76$710,717$0$0$425,976
77$713,917$0$0$422,673
78$715,261$0$0$422,705
79$714,490$0$0$421,384
80$711,319$0$0$418,528
81$705,428$0$0$413,937
82$696,465$0$0$407,388
83$684,040$0$0$398,635
84$667,717$0$0$387,405
85$647,018$0$0$373,395
86$621,410$0$0$356,269
87$590,305$0$0$335,658
88$553,051$0$0$311,150
89$508,926$0$0$282,292
90$457,134$0$0$248,581
91$396,792$0$0$209,464
92$326,926$0$0$164,325
93$246,459$0$0$112,487
94$154,198$0$0$53,202
95$48,828$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