Can I retire at age 61 with 504,000?

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 $504,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$41,620$41,249$40,887$40,534$40,190$39,508
2 years$20,604$20,220$19,848$19,488$19,138$18,453
3 years$13,599$13,214$12,843$12,486$12,142$11,475
4 years$10,098$9,714$9,347$8,995$8,660$8,016
5 years$7,998$7,616$7,253$6,909$6,583$5,965
6 years$6,598$6,219$5,862$5,525$5,209$4,617
7 years$5,598$5,223$4,871$4,543$4,236$3,670
8 years$4,849$4,477$4,131$3,811$3,514$2,975
9 years$4,267$3,898$3,558$3,246$2,960$2,446
10 years$3,801$3,436$3,102$2,798$2,522$2,033
11 years$3,420$3,059$2,731$2,435$2,169$1,705
12 years$3,103$2,745$2,424$2,136$1,879$1,440
13 years$2,835$2,481$2,165$1,886$1,639$1,223
14 years$2,605$2,255$1,946$1,674$1,437$1,043
15 years$2,407$2,060$1,757$1,493$1,265$894
16 years$2,233$1,890$1,593$1,337$1,118$768
17 years$2,080$1,741$1,449$1,201$991$662
18 years$1,944$1,608$1,323$1,082$881$572
19 years$1,822$1,491$1,211$978$786$495
20 years$1,713$1,385$1,112$886$702$429
21 years$1,614$1,290$1,022$804$628$372
22 years$1,525$1,204$942$731$563$324
23 years$1,443$1,126$870$666$505$282
24 years$1,368$1,055$805$607$454$245
25 years$1,299$990$745$554$409$214
26 years$1,236$931$691$507$368$187
27 years$1,178$876$642$464$332$163
28 years$1,123$826$597$425$299$142
29 years$1,073$779$555$390$270$124
30 years$1,026$735$517$358$244$109
31 years$982$695$482$329$221$95
32 years$941$658$450$302$200$83
33 years$903$623$420$278$181$73
34 years$866$590$392$256$164$64
35 years$832$560$367$235$148$56
36 years$800$532$343$217$134$49
37 years$770$505$321$200$122$43
38 years$742$480$301$184$110$37
39 years$715$456$282$170$100$33
40 years$689$434$264$156$91$29
41 years$665$413$248$144$82$25
42 years$642$394$232$133$75$22
43 years$620$375$218$123$68$19
44 years$599$357$205$114$62$17
45 years$579$341$192$105$56$15
46 years$560$325$181$97$51$13
47 years$542$310$170$89$46$11
48 years$524$296$159$83$42$10
49 years$508$283$150$76$38$9
50 years$492$270$141$71$35$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $504,000, adding $5,065 every year, while hoping to spend $33,748 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: 62/33/5 Blend
60$504,000$504,000$504,000$504,000
61$560,633$533,921$526,109$594,637
62$581,909$524,175$507,826$608,191
63$604,226$512,821$487,799$618,565
64$627,651$499,744$465,935$629,008
65$652,263$484,822$442,135$639,526
66$678,143$467,928$416,296$650,125
67$705,383$448,926$388,311$660,817
68$734,080$427,672$358,068$671,611
69$764,343$404,014$325,449$682,522
70$796,286$377,791$290,333$693,569
71$830,039$348,834$252,590$704,773
72$865,738$316,963$212,087$716,160
73$903,537$281,987$168,686$727,760
74$943,600$243,707$122,239$739,610
75$986,109$201,910$72,595$751,753
76$1,031,261$156,372$19,596$764,237
77$1,079,272$106,857$0$777,120
78$1,130,379$53,114$0$792,441
79$1,184,841$0$0$809,548
80$1,242,942$0$0$829,350
81$1,304,993$0$0$871,120
82$1,371,334$0$0$915,800
83$1,442,338$0$0$963,647
84$1,518,415$0$0$1,014,939
85$1,600,015$0$0$1,069,982
86$1,687,629$0$0$1,129,113
87$1,781,799$0$0$1,192,699
88$1,883,118$0$0$1,261,147
89$1,992,239$0$0$1,334,900
90$2,109,877$0$0$1,414,447
91$2,236,818$0$0$1,500,324
92$2,373,927$0$0$1,593,122
93$2,522,153$0$0$1,693,487
94$2,682,540$0$0$1,802,133
95$2,856,234$0$0$1,919,842
96$3,044,498$0$0$2,047,474
97$3,248,719$0$0$2,185,977
98$3,470,420$0$0$2,336,391
99$3,711,281$0$0$2,499,863
100$3,973,146$0$0$2,677,651