Can I retire at age 61 with 502,000?

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 $502,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$41,455$41,085$40,725$40,374$40,030$39,031
2 years$20,522$20,140$19,770$19,410$19,062$18,061
3 years$13,546$13,162$12,792$12,436$12,094$11,123
4 years$10,058$9,675$9,309$8,960$8,625$7,693
5 years$7,966$7,585$7,224$6,882$6,557$5,664
6 years$6,572$6,194$5,838$5,504$5,188$4,337
7 years$5,576$5,202$4,852$4,525$4,219$3,409
8 years$4,830$4,459$4,115$3,796$3,500$2,731
9 years$4,250$3,882$3,544$3,233$2,948$2,218
10 years$3,786$3,422$3,090$2,787$2,512$1,822
11 years$3,407$3,046$2,720$2,425$2,160$1,508
12 years$3,091$2,734$2,414$2,127$1,872$1,257
13 years$2,824$2,471$2,157$1,878$1,632$1,054
14 years$2,595$2,246$1,938$1,667$1,431$887
15 years$2,397$2,052$1,750$1,487$1,260$749
16 years$2,224$1,883$1,586$1,331$1,114$635
17 years$2,071$1,734$1,443$1,196$987$539
18 years$1,936$1,602$1,318$1,078$878$459
19 years$1,815$1,485$1,206$974$782$391
20 years$1,706$1,380$1,107$882$699$334
21 years$1,608$1,285$1,018$801$625$286
22 years$1,519$1,200$939$728$561$245
23 years$1,437$1,122$867$663$503$210
24 years$1,363$1,051$801$605$452$180
25 years$1,294$987$742$552$407$154
26 years$1,231$927$688$505$367$132
27 years$1,173$873$639$462$331$114
28 years$1,119$822$594$423$298$98
29 years$1,069$776$553$388$269$84
30 years$1,022$733$515$356$243$72
31 years$978$693$480$327$220$62
32 years$937$655$448$301$199$53
33 years$899$621$418$277$180$46
34 years$863$588$391$255$163$40
35 years$829$558$365$234$148$34
36 years$797$529$342$216$134$29
37 years$767$503$320$199$121$25
38 years$739$478$300$183$110$22
39 years$712$454$281$169$100$19
40 years$686$432$263$156$90$16
41 years$662$412$247$144$82$14
42 years$639$392$231$133$74$12
43 years$617$373$217$122$68$10
44 years$596$356$204$113$61$9
45 years$577$339$191$104$56$8
46 years$558$324$180$96$51$7
47 years$540$309$169$89$46$6
48 years$522$295$159$82$42$5
49 years$506$282$149$76$38$4
50 years$490$269$140$70$34$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $502,000, adding $5,287 every year, while hoping to spend $39,836 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: 72/18/10 Blend
60$502,000$502,000$502,000$502,000
61$558,658$532,052$524,271$597,440
62$573,255$515,737$499,448$607,472
63$588,007$497,288$472,460$613,018
64$602,886$476,557$443,189$618,002
65$617,863$453,390$411,518$622,359
66$632,901$427,623$377,321$626,017
67$647,962$399,082$340,466$628,898
68$663,000$367,583$300,818$630,918
69$677,964$332,932$258,233$631,985
70$692,796$294,925$212,563$631,998
71$707,429$253,344$163,651$630,849
72$721,789$207,961$111,337$628,418
73$735,794$158,533$55,449$624,577
74$749,349$104,805$0$619,185
75$762,350$46,508$0$612,535
76$774,679$0$0$610,358
77$786,204$0$0$609,864
78$796,779$0$0$617,816
79$806,239$0$0$624,869
80$814,402$0$0$630,879
81$821,065$0$0$635,683
82$826,000$0$0$639,102
83$828,957$0$0$640,935
84$829,654$0$0$640,959
85$827,780$0$0$638,927
86$822,991$0$0$634,564
87$814,903$0$0$627,566
88$803,090$0$0$617,595
89$787,083$0$0$604,276
90$766,358$0$0$587,195
91$740,338$0$0$565,892
92$708,381$0$0$539,859
93$669,780$0$0$508,532
94$623,749$0$0$471,288
95$569,421$0$0$427,438
96$505,836$0$0$376,220
97$431,934$0$0$316,790
98$346,539$0$0$248,219
99$248,357$0$0$169,475
100$135,955$0$0$79,421