Can I retire at age 61 with 507,000?

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 $507,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$41,868$41,495$41,131$40,776$40,429$40,191
2 years$20,727$20,341$19,966$19,604$19,252$19,012
3 years$13,680$13,293$12,920$12,560$12,214$11,979
4 years$10,158$9,772$9,402$9,049$8,711$8,484
5 years$8,045$7,661$7,296$6,950$6,622$6,402
6 years$6,637$6,256$5,897$5,558$5,240$5,028
7 years$5,632$5,254$4,900$4,570$4,261$4,058
8 years$4,878$4,503$4,156$3,834$3,535$3,340
9 years$4,292$3,921$3,579$3,265$2,977$2,790
10 years$3,824$3,456$3,121$2,815$2,537$2,358
11 years$3,441$3,077$2,747$2,450$2,182$2,010
12 years$3,122$2,762$2,438$2,149$1,891$1,727
13 years$2,852$2,496$2,178$1,897$1,649$1,493
14 years$2,621$2,268$1,957$1,684$1,445$1,297
15 years$2,421$2,072$1,767$1,502$1,272$1,131
16 years$2,246$1,901$1,602$1,345$1,125$991
17 years$2,092$1,751$1,458$1,208$997$870
18 years$1,955$1,618$1,331$1,089$887$766
19 years$1,833$1,500$1,218$984$790$676
20 years$1,723$1,393$1,118$891$706$598
21 years$1,624$1,298$1,028$809$632$530
22 years$1,534$1,212$948$735$566$470
23 years$1,451$1,133$875$670$508$417
24 years$1,376$1,062$809$611$457$371
25 years$1,307$996$750$558$411$330
26 years$1,243$936$695$510$370$294
27 years$1,185$881$646$467$334$263
28 years$1,130$830$600$428$301$234
29 years$1,079$783$559$392$272$209
30 years$1,032$740$520$360$246$187
31 years$988$699$485$331$222$167
32 years$947$662$453$304$201$150
33 years$908$627$423$279$182$134
34 years$872$594$395$257$165$120
35 years$837$563$369$237$149$107
36 years$805$535$345$218$135$96
37 years$775$508$323$201$122$86
38 years$746$483$303$185$111$77
39 years$719$459$284$171$101$69
40 years$693$437$266$157$91$62
41 years$669$416$249$145$83$55
42 years$645$396$234$134$75$50
43 years$623$377$219$124$68$45
44 years$602$360$206$114$62$40
45 years$582$343$193$105$56$36
46 years$563$327$182$97$51$32
47 years$545$312$171$90$46$29
48 years$528$298$160$83$42$26
49 years$511$285$151$77$38$23
50 years$495$272$142$71$35$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $507,000, adding $2,314 every year, while hoping to spend $31,530 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: 63/21/16 Blend
60$507,000$507,000$507,000$507,000
61$561,101$534,230$526,371$594,085
62$584,786$526,859$510,457$609,145
63$609,829$518,071$492,953$621,786
64$636,337$507,762$473,773$634,834
65$664,425$495,824$452,825$648,330
66$694,218$482,140$430,016$662,321
67$725,853$466,590$405,247$676,858
68$759,481$449,044$378,413$692,001
69$795,266$429,366$349,408$707,815
70$833,388$407,410$318,119$724,376
71$874,045$383,024$284,427$741,767
72$917,451$356,046$248,209$760,082
73$963,844$326,305$209,336$779,427
74$1,013,482$293,620$167,676$799,918
75$1,066,651$257,801$123,086$821,689
76$1,123,661$218,644$75,421$844,888
77$1,184,855$175,938$24,528$869,679
78$1,250,608$129,457$0$896,248
79$1,321,332$78,962$0$929,885
80$1,397,479$24,203$0$970,536
81$1,479,546$0$0$1,014,293
82$1,568,080$0$0$1,069,583
83$1,663,679$0$0$1,135,353
84$1,767,002$0$0$1,206,466
85$1,878,773$0$0$1,283,425
86$1,999,789$0$0$1,366,782
87$2,130,923$0$0$1,457,144
88$2,273,139$0$0$1,555,177
89$2,427,494$0$0$1,661,615
90$2,595,151$0$0$1,777,267
91$2,777,392$0$0$1,903,019
92$2,975,623$0$0$2,039,849
93$3,191,394$0$0$2,188,831
94$3,426,411$0$0$2,351,148
95$3,682,547$0$0$2,528,102
96$3,961,869$0$0$2,721,125
97$4,266,649$0$0$2,931,794
98$4,599,387$0$0$3,161,844
99$4,962,837$0$0$3,413,186
100$5,360,029$0$0$3,687,923