Can I retire at age 61 with 500,000?

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 $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%15%
1 years$41,290$40,922$40,563$40,213$39,871$39,050
2 years$20,440$20,060$19,691$19,333$18,986$18,163
3 years$13,492$13,109$12,741$12,387$12,046$11,245
4 years$10,018$9,637$9,272$8,924$8,591$7,820
5 years$7,934$7,555$7,196$6,855$6,531$5,792
6 years$6,545$6,169$5,815$5,482$5,168$4,461
7 years$5,554$5,181$4,832$4,507$4,203$3,529
8 years$4,811$4,441$4,098$3,781$3,486$2,845
9 years$4,233$3,867$3,530$3,220$2,936$2,326
10 years$3,771$3,408$3,077$2,776$2,502$1,923
11 years$3,393$3,034$2,709$2,416$2,152$1,604
12 years$3,079$2,723$2,404$2,119$1,864$1,346
13 years$2,813$2,461$2,148$1,871$1,626$1,137
14 years$2,585$2,237$1,930$1,661$1,425$964
15 years$2,388$2,044$1,743$1,481$1,255$821
16 years$2,215$1,875$1,580$1,326$1,109$701
17 years$2,063$1,727$1,438$1,191$983$600
18 years$1,928$1,596$1,312$1,074$874$515
19 years$1,808$1,479$1,202$970$779$443
20 years$1,699$1,374$1,103$879$696$381
21 years$1,601$1,280$1,014$798$623$329
22 years$1,512$1,195$935$725$558$284
23 years$1,431$1,118$863$660$501$245
24 years$1,357$1,047$798$602$451$212
25 years$1,289$983$739$550$405$184
26 years$1,226$923$686$503$365$159
27 years$1,168$869$637$460$329$138
28 years$1,114$819$592$422$297$119
29 years$1,064$773$551$387$268$104
30 years$1,018$730$513$355$242$90
31 years$974$690$478$326$219$78
32 years$934$653$446$300$198$68
33 years$895$618$417$276$179$59
34 years$860$586$389$254$162$51
35 years$826$556$364$233$147$44
36 years$794$527$341$215$133$38
37 years$764$501$319$198$121$33
38 years$736$476$298$183$110$29
39 years$709$453$280$168$99$25
40 years$684$431$262$155$90$22
41 years$659$410$246$143$82$19
42 years$637$390$231$132$74$17
43 years$615$372$216$122$67$14
44 years$594$355$203$113$61$13
45 years$574$338$191$104$55$11
46 years$555$323$179$96$50$9
47 years$538$308$168$89$46$8
48 years$520$294$158$82$42$7
49 years$504$281$149$76$38$6
50 years$488$268$140$70$34$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $500,000, adding $4,289 every year, while hoping to spend $27,705 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: 28/46/26 Blend
60$500,000$500,000$500,000$500,000
61$555,424$528,924$521,174$566,389
62$582,599$525,363$509,156$571,854
63$611,618$520,700$495,806$575,026
64$642,639$514,850$481,051$577,867
65$675,836$507,725$464,814$580,369
66$711,400$499,232$447,014$582,522
67$749,540$489,272$427,566$584,322
68$790,486$477,740$406,383$585,764
69$834,491$464,524$383,372$586,848
70$881,830$449,506$358,435$587,577
71$932,807$432,563$331,474$587,957
72$987,757$413,562$302,382$588,000
73$1,047,045$392,364$271,049$587,721
74$1,111,075$368,821$237,360$587,143
75$1,180,289$342,777$201,196$586,296
76$1,255,173$314,068$162,430$585,215
77$1,336,261$282,518$120,932$583,946
78$1,424,142$247,943$76,566$582,546
79$1,519,462$210,150$29,188$581,081
80$1,622,931$168,931$0$579,632
81$1,735,331$124,070$0$584,222
82$1,857,522$75,337$0$598,059
83$1,990,450$22,489$0$613,214
84$2,135,155$0$0$629,882
85$2,292,784$0$0$665,866
86$2,464,595$0$0$717,570
87$2,651,977$0$0$774,037
88$2,856,455$0$0$835,737
89$3,079,711$0$0$903,186
90$3,323,593$0$0$976,955
91$3,590,139$0$0$1,057,671
92$3,881,589$0$0$1,146,022
93$4,200,413$0$0$1,242,771
94$4,549,329$0$0$1,348,753
95$4,931,329$0$0$1,464,891
96$5,349,709$0$0$1,592,200
97$5,808,098$0$0$1,731,797
98$6,310,494$0$0$1,884,915
99$6,861,298$0$0$2,052,911
100$7,465,359$0$0$2,237,277