Can I retire at age 61 with 508,000?

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 $508,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$41,950$41,576$41,212$40,856$40,509$40,069
2 years$20,767$20,381$20,006$19,642$19,290$18,847
3 years$13,707$13,319$12,945$12,585$12,238$11,806
4 years$10,178$9,791$9,421$9,067$8,728$8,310
5 years$8,061$7,676$7,311$6,964$6,635$6,233
6 years$6,650$6,268$5,908$5,569$5,250$4,863
7 years$5,643$5,264$4,910$4,579$4,270$3,899
8 years$4,888$4,512$4,164$3,841$3,542$3,187
9 years$4,301$3,929$3,586$3,272$2,983$2,644
10 years$3,831$3,463$3,127$2,820$2,542$2,218
11 years$3,447$3,083$2,753$2,454$2,186$1,877
12 years$3,128$2,767$2,443$2,153$1,894$1,601
13 years$2,858$2,501$2,183$1,901$1,652$1,373
14 years$2,626$2,273$1,961$1,687$1,448$1,183
15 years$2,426$2,076$1,771$1,505$1,275$1,024
16 years$2,251$1,905$1,605$1,347$1,127$889
17 years$2,096$1,754$1,461$1,211$999$774
18 years$1,959$1,621$1,333$1,091$888$676
19 years$1,837$1,503$1,221$986$792$592
20 years$1,727$1,396$1,120$893$707$519
21 years$1,627$1,301$1,030$810$633$455
22 years$1,537$1,214$950$737$567$400
23 years$1,454$1,135$877$671$509$352
24 years$1,379$1,064$811$612$458$311
25 years$1,310$998$751$559$412$274
26 years$1,246$938$697$511$371$242
27 years$1,187$883$647$468$335$214
28 years$1,132$832$601$429$302$189
29 years$1,081$785$560$393$273$167
30 years$1,034$741$521$361$246$148
31 years$990$701$486$331$223$131
32 years$949$663$453$304$201$116
33 years$910$628$423$280$182$103
34 years$873$595$396$258$165$91
35 years$839$564$370$237$149$81
36 years$807$536$346$218$135$71
37 years$776$509$324$201$123$63
38 years$748$484$303$185$111$56
39 years$720$460$284$171$101$50
40 years$695$438$266$158$92$44
41 years$670$416$250$146$83$39
42 years$647$397$234$134$75$35
43 years$625$378$220$124$68$31
44 years$604$360$206$114$62$27
45 years$584$344$194$106$56$24
46 years$564$328$182$98$51$22
47 years$546$313$171$90$46$19
48 years$529$299$161$83$42$17
49 years$512$285$151$77$38$15
50 years$496$272$142$71$35$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $508,000, adding $2,867 every year, while hoping to spend $29,362 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: 55/28/17 Blend
60$508,000$508,000$508,000$508,000
61$562,773$535,849$527,975$591,026
62$588,935$530,865$514,422$605,620
63$616,782$524,652$499,430$618,113
64$646,453$517,120$482,920$631,061
65$678,104$508,172$464,811$644,513
66$711,904$497,705$445,015$658,528
67$748,037$485,611$423,442$673,170
68$786,706$471,776$399,997$688,511
69$828,134$456,077$374,581$704,634
70$872,565$438,386$347,091$721,630
71$920,267$418,568$317,418$739,603
72$971,534$396,477$285,451$758,669
73$1,026,687$371,961$251,071$778,958
74$1,086,083$344,861$214,155$800,616
75$1,150,109$315,004$174,575$823,807
76$1,219,192$282,212$132,196$848,712
77$1,293,804$246,294$86,878$875,536
78$1,374,458$207,049$38,475$904,508
79$1,461,723$164,264$0$935,882
80$1,556,221$117,716$0$972,332
81$1,658,639$67,167$0$1,019,388
82$1,769,729$12,368$0$1,070,446
83$1,890,321$0$0$1,125,931
84$2,021,325$0$0$1,200,779
85$2,163,745$0$0$1,286,333
86$2,318,683$0$0$1,379,450
87$2,487,354$0$0$1,480,865
88$2,671,092$0$0$1,591,387
89$2,871,367$0$0$1,711,905
90$3,089,797$0$0$1,843,400
91$3,328,161$0$0$1,986,949
92$3,588,420$0$0$2,143,739
93$3,872,730$0$0$2,315,076
94$4,183,465$0$0$2,502,399
95$4,523,241$0$0$2,707,291
96$4,894,935$0$0$2,931,497
97$5,301,717$0$0$3,176,935
98$5,747,077$0$0$3,445,720
99$6,234,859$0$0$3,740,180
100$6,769,294$0$0$4,062,880