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%19.6%
1 years$41,290$40,922$40,563$40,213$39,871$38,334
2 years$20,440$20,060$19,691$19,333$18,986$17,456
3 years$13,492$13,109$12,741$12,387$12,046$10,571
4 years$10,018$9,637$9,272$8,924$8,591$7,182
5 years$7,934$7,555$7,196$6,855$6,531$5,192
6 years$6,545$6,169$5,815$5,482$5,168$3,900
7 years$5,554$5,181$4,832$4,507$4,203$3,005
8 years$4,811$4,441$4,098$3,781$3,486$2,358
9 years$4,233$3,867$3,530$3,220$2,936$1,875
10 years$3,771$3,408$3,077$2,776$2,502$1,506
11 years$3,393$3,034$2,709$2,416$2,152$1,219
12 years$3,079$2,723$2,404$2,119$1,864$993
13 years$2,813$2,461$2,148$1,871$1,626$813
14 years$2,585$2,237$1,930$1,661$1,425$668
15 years$2,388$2,044$1,743$1,481$1,255$550
16 years$2,215$1,875$1,580$1,326$1,109$455
17 years$2,063$1,727$1,438$1,191$983$376
18 years$1,928$1,596$1,312$1,074$874$312
19 years$1,808$1,479$1,202$970$779$259
20 years$1,699$1,374$1,103$879$696$216
21 years$1,601$1,280$1,014$798$623$179
22 years$1,512$1,195$935$725$558$149
23 years$1,431$1,118$863$660$501$124
24 years$1,357$1,047$798$602$451$104
25 years$1,289$983$739$550$405$87
26 years$1,226$923$686$503$365$72
27 years$1,168$869$637$460$329$60
28 years$1,114$819$592$422$297$50
29 years$1,064$773$551$387$268$42
30 years$1,018$730$513$355$242$35
31 years$974$690$478$326$219$29
32 years$934$653$446$300$198$25
33 years$895$618$417$276$179$21
34 years$860$586$389$254$162$17
35 years$826$556$364$233$147$14
36 years$794$527$341$215$133$12
37 years$764$501$319$198$121$10
38 years$736$476$298$183$110$8
39 years$709$453$280$168$99$7
40 years$684$431$262$155$90$6
41 years$659$410$246$143$82$5
42 years$637$390$231$132$74$4
43 years$615$372$216$122$67$3
44 years$594$355$203$113$61$3
45 years$574$338$191$104$55$2
46 years$555$323$179$96$50$2
47 years$538$308$168$89$46$2
48 years$520$294$158$82$42$1
49 years$504$281$149$76$38$1
50 years$488$268$140$70$34$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $500,000, adding $3,167 every year, while hoping to spend $23,524 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: 73/8/19 Blend
60$500,000$500,000$500,000$500,000
61$554,267$527,767$520,017$592,012
62$585,773$528,598$512,408$618,331
63$619,704$528,682$503,756$644,002
64$656,282$527,956$494,001$671,520
65$695,753$526,356$483,080$701,065
66$738,385$523,812$470,928$732,834
67$784,472$520,251$457,476$767,045
68$834,340$515,595$442,653$803,938
69$888,345$509,761$426,384$843,779
70$946,878$502,661$408,590$886,860
71$1,010,371$494,204$389,189$933,504
72$1,079,299$484,289$368,097$984,068
73$1,154,182$472,814$345,223$1,038,945
74$1,235,594$459,667$320,473$1,098,568
75$1,324,166$444,732$293,750$1,163,417
76$1,420,593$427,886$264,953$1,234,020
77$1,525,638$408,997$233,973$1,310,959
78$1,640,142$387,927$200,700$1,394,878
79$1,765,030$364,529$165,018$1,486,485
80$1,901,321$338,649$126,804$1,586,563
81$2,050,137$310,124$85,933$1,695,976
82$2,212,710$278,779$42,270$1,815,676
83$2,390,399$244,432$0$1,946,713
84$2,584,701$206,890$0$2,091,123
85$2,797,261$165,949$0$2,258,510
86$3,029,894$121,393$0$2,441,735
87$3,284,596$72,993$0$2,642,385
88$3,563,565$20,510$0$2,862,209
89$3,869,223$0$0$3,103,134
90$4,204,237$0$0$3,370,477
91$4,571,543$0$0$3,665,593
92$4,974,377$0$0$3,989,278
93$5,416,300$0$0$4,344,396
94$5,901,238$0$0$4,734,106
95$6,433,512$0$0$5,161,883
96$7,017,884$0$0$5,631,558
97$7,659,599$0$0$6,147,350
98$8,364,435$0$0$6,713,905
99$9,138,755$0$0$7,336,344
100$9,989,573$0$0$8,020,307